JimBowie1958
Old Fogey
- Sep 25, 2011
- 63,590
- 16,798
- 2,220
Both of my kids attended college and none of them took student loans to do it.
They worked their asses off instead.
7 Reasons Millennials are Financially Doomed - Breitbart
As the smartest and, possibly, poorest generation in our nation’s history, Millennials will soon have their day of reckoning. Here are the key issues threatening our generation, that we hope the next administration will tackle, so that we, too, can live the American Dream.
1. Colleges are robbing students.
College tuition costs have skyrocketed by over 500 percent since 1985. As long as schools continue to tell young people that a degree will guarantee them a better future, they’ll keep footing the bill. The government helps them load up on debt – and leaves them with little to no help after the fact. ....
4. We’re kept financially illiterate by a broken education system.
One of the most indebted generations in American history is also the least equipped to manage its debt. Only 24 percent of Millenials qualify as financially literate, according toPWC and half expect that they wouldn’t be able to handle an emergency bill of $2,000.
Few colleges and fewer high schools teach pocketbook economics. No wonder we’re slaves to the system.
5. The government puts up roadblocks to starting our own businesses.
Despite the majority of Millennials and college students indicating that they want to start their own business at some point, the number of actual entrepreneurs is going down. The share of new entrepreneurs between the ages of 20 and 34 declined by 12% when compared to the same demographic in 1996.
According to the Manhattan Institute, one of the biggest barriers to new business creation among those under 30 is the mountain of federal, state and local regulations.
Without modernizing government regulations to encourage new startups, we’re likely to see entrepreneurship continue to decline. We’ll also have less chances of making money driving an Uber or renting out a room on Airbnb, as the taxi and hotel industries and regulators crack down on innovation.
6. Not only does government stop us from working, it takes what little cash we may have.
Politicians use Millennials to pay for programs such as Social Security and Medicare that would otherwise be insolvent. The amount of debt held by the public will be more that 79 percent of GDP by 2024, when Millennials will make up most of the labor force. To pay for that debt, taxes will have to rise.
The think tank Demos calls this “generational theft.”
7. Of course, in the end, politicians don’t care about us. We’re, um, fkd.
A survey from GenFKD confirms our suspicions: Presidential candidates don’t discuss the issues important to America’s largest eligible voting demographic, millennials.
When asked whether or not the presidential candidates were addressing the issues close to them, roughly 86 percent, all aged 18 to 34, reported feeling ignored.
They worked their asses off instead.
7 Reasons Millennials are Financially Doomed - Breitbart
As the smartest and, possibly, poorest generation in our nation’s history, Millennials will soon have their day of reckoning. Here are the key issues threatening our generation, that we hope the next administration will tackle, so that we, too, can live the American Dream.
1. Colleges are robbing students.
College tuition costs have skyrocketed by over 500 percent since 1985. As long as schools continue to tell young people that a degree will guarantee them a better future, they’ll keep footing the bill. The government helps them load up on debt – and leaves them with little to no help after the fact. ....
4. We’re kept financially illiterate by a broken education system.
One of the most indebted generations in American history is also the least equipped to manage its debt. Only 24 percent of Millenials qualify as financially literate, according toPWC and half expect that they wouldn’t be able to handle an emergency bill of $2,000.
Few colleges and fewer high schools teach pocketbook economics. No wonder we’re slaves to the system.
5. The government puts up roadblocks to starting our own businesses.
Despite the majority of Millennials and college students indicating that they want to start their own business at some point, the number of actual entrepreneurs is going down. The share of new entrepreneurs between the ages of 20 and 34 declined by 12% when compared to the same demographic in 1996.
According to the Manhattan Institute, one of the biggest barriers to new business creation among those under 30 is the mountain of federal, state and local regulations.
Without modernizing government regulations to encourage new startups, we’re likely to see entrepreneurship continue to decline. We’ll also have less chances of making money driving an Uber or renting out a room on Airbnb, as the taxi and hotel industries and regulators crack down on innovation.
6. Not only does government stop us from working, it takes what little cash we may have.
Politicians use Millennials to pay for programs such as Social Security and Medicare that would otherwise be insolvent. The amount of debt held by the public will be more that 79 percent of GDP by 2024, when Millennials will make up most of the labor force. To pay for that debt, taxes will have to rise.
The think tank Demos calls this “generational theft.”
7. Of course, in the end, politicians don’t care about us. We’re, um, fkd.
A survey from GenFKD confirms our suspicions: Presidential candidates don’t discuss the issues important to America’s largest eligible voting demographic, millennials.
When asked whether or not the presidential candidates were addressing the issues close to them, roughly 86 percent, all aged 18 to 34, reported feeling ignored.
