Since President Obama took office, the Youth Misery Index (YMI) has risen 36%, the New Guard reports. The YMI was created by Young America’s Foundation and is calculated by adding together the youth unemployment rate, student loan debt, and debt per capita.
In January 2009, the YMI was 83.5. Now it stands at a staggering 113.4. According to the New Guard, the youth unemployment rate is currently 14.7%, the student loan debt average is $37,173, and the debt per capita is $61,549.
Under President Obama, there has been a significant increase in the YMI, yet many college student still protest for a liberal solution. If the past eight years have not brought forth positive change for millennials, then why don’t we try a plan that is different? Instead of relying on the federal government to pay for expenses through the people’s taxes, let’s come up with other solutions. Higher taxes mean you will still be paying for both your own debt and others’ debts.
The people who are protesting the outrageous costs of higher education and unemployment are correct in doing so. However, bringing forth a plan with the same failed ideas of the past eight years will only prove to make matters worse.
We do not have to fear the information provided by the New Guard report. In fact, the numbers can help us look for effective solutions.
This report comes just three days before President elect Trump will be sworn in to the office of the presidency. During the next four years, the United States will have a Republican president. If President Trump moves to fix the increasing costs of college, limit government overreach, or lowers taxes so that students can put more towards their own tuition and less towards taxes, the YMI may lower over time.
The numbers that came out in the New Guard report show that there is not only room for improvement, but a need for it. Going forward, we must focus on ideas that have been effective in the past that can be modified for the present. It is important to peacefully protest, as it is our right and duty when we see something that needs to change. Yet, we must remember that protesting is not the only action that must be taken on order to make a difference.
Solutions must also take place. Yelling that there is a problem notifies people of its existence, but debating ideas and going to public officials with the enthusiasm and proof for an idea is the first step leading to policy improvement.