Posted on 04/07/2013 6:15:11 AM PDT by Kaslin
Young people voted for Obama in overwhelming numbers, but the question is why?
As I explain in this interview for Blaze TV, they are being hurt by his policies.
It’s not just that youth unemployment is high. Obama’s policies also are hurting those who found jobs. Simply stated, these “lucky” folks are getting below-average pay.
Dan Mitchell Warning that Young People Are Most Hurt by Obamanomics
Some of you may think I’m clutching at straws because I don’t like Obama, but perhaps you’ll believe the man who formerly served as the Chairman of President Obama’s Council of Economic Advisers.
Here’s some of what Austin Goolsbee wrote several years ago for the New York Times.
…starting at the bottom is a recipe for being underpaid for a long time to come. Graduates’ first jobs have an inordinate impact on their career path and their “future income stream,” as economists refer to a person’s earnings over a lifetime. The importance of that first job for future success also means that graduates remain highly dependent on the random fluctuations of the economy, which can play a crucial role in the quality of jobs available when they get out of school.
Goolsbee cites some research based on the career paths of Stanford MBAs.
Consider the evidence uncovered by Paul Oyer, a Stanford Business School economist… He found that the performance of the stock market in the two years the students were in business school played a major role in whether they took an investment banking job upon graduating and, because such jobs pay extremely well, upon the average salary of the class. That is no surprise. The startling thing about the data was his finding that the relative income differences among classes remained, even as much as 20 years later.
He also reports on what other scholars found for regular college students.
Dr. Oyer’s findings hold for more than just high-end M.B.A. students on Wall Street. They are also true for college students. A recent study, by the economists Philip Oreopoulos, Till Von Wachter and Andrew Heisz…finds that the setback in earnings for college students who graduate in a recession stays with them for the next 10 years. These data confirm that people essentially cannot close the wage gap by working their way up the company hierarchy. While they may work their way up, the people who started above them do, too. They don’t catch up.
Now think about today’s young people. They’re buried in debt, thanks to government programs that have caused a third-party payer crisis. Yet they are having a hard time finding jobs because Obama’s policies are stunting the economy’s performance.
And even if they do find a job, the research suggests they will get paid less. Not just today, but for the foreseeable future.
Yet they gush over Obama. Go figure.
P.S. Goolsbee’s recent columns have been less impressive, perhaps because he feels the need to defend Obama.
P.P.S. I’m not suggesting that young people should have gushed over McCain or Romney. Just that they should view almost all politicians with disdain.
P.P.P.S. I also say in the interview that the government should get out of the housing business – both on the spending side of the budget and the revenue side of the budget. And it goes without saying that I also explain the need to reduce the burden of government spending.
Because their media masters told them so.
Absolutely.
For the past two generations. The government public schools and leftist media totally brainwashed them.
During the same time period, government flooded the country with foreigners from socialist countries, millions of illegals etc., etc...
They did an excellent job of dividing the once united.
It’s a combination of economic illiteracy, ignorance of history (the world did not begin the day a young person today was born), loose morals (total ignorance of Scripture), and inability to reason effectively.
A: Indoctrination.
Duh.
The GOP thinks that if they embrace gay marriage, the youth vote will go GOP. Talk about deluded thinking. The many deaths in the Iraqi War is what caused the youth vote to sour on the GOP. Young people had their friends and family got to Iraqi to fight to stop Saddam’s tyranny. Many of them died or returned maimed. Thus, many young people blame Bush/Cheney for what happened to their family/friends.
You just had to $igure out which letter was missing on my keyboard, suddenly, the $ wouldn’t register. It’s the letter
a@ter e and be$ore g. Yes, it’s a pain/
Get another keyboard!
I have a laptop!
What can you suggest?
I have a laptop!
What can you suggest?
Get it fixed, or buy another one? Just a guess...
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