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24 Facts That Show How Ridiculously Unfair Our Economy Is For Americans Under The Age Of 30

If you are an American under the age of 30, you have probably figured out by now that the entire economic system is stacked against you.  The way that our economy is structured today is ridiculously unfair to younger Americans.  First, we endlessly push our young people to go to our ridiculously expensive colleges and universities where the pile up enormous amounts of debt.  Then they get out into the real world where they find that only a handful of really good jobs are available for the vast army of college graduates entering the workforce.  Sadly, most of the jobs that our young people are working these days do not pay enough to be able to support a family or buy a decent home.  Meanwhile, our politicians are busy mortgaging their future.  Our young people are expected to support a Social Security system that will not be there when they get older, and every single day more than 2 billion dollars is added to a debt that will hang around the necks of younger Americans and their children for the rest of their lives.  If you stop and think about all of this for too long, your head might just explode with anger.  Well, not literally, but you get the point.  The truth is that this is going to be the first generation in U.S. history that is going to do significantly worse than their parents, and that is a terrible shame.

Are you not convinced that things are really bad for younger Americans?

Do you think that they should just shut up and quit whining about things?

Well, keep reading.  You just might change your mind by the time this article is over.

The following are 24 facts that show how ridiculously unfair our economy is for Americans under the age of 30 that will make your head explode….

#1 U.S. households led by someone 65 years of age or older are 47 times wealthier than U.S. households led by someone 35 years of age or younger.

#2 Today, only about 55 percent of all Americans between the ages of 16 and 29 have a job.

#3 Back in the year 2000, more than 50 percent of all Americans teens had a job.  This past summer, only 29.6% of all American teens had a job.

#4 Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you adjust for inflation.

#5 It is absolutely ridiculous how much it costs to get a college education in America today.  After adjusting for inflation, U.S. college students are now borrowing about twice as much money as they did a decade ago.

#6 Average yearly tuition at private colleges and universities in the United States is now up to $27,293.  That figure has increased by 29% in just the past five years.

#7 Back in 1952, a full year of tuition at Harvard was only $600. Today, it is $35,568.

#8 The cost of college textbooks has tripled over the past decade.

#9 In 2010, the average college graduate had accumulated approximately $25,000 in student loan debt by graduation day.

#10 At some point this year, total student loan debt in the United States will surpass the 1 trillion dollar mark for the first time ever.

#11 The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.

#12 Our economy is not producing nearly enough jobs for our college graduates.  The percentage of mail carriers with a college degree is now 4 times higher than it was back in 1970.

#13 One-third of all college graduates end up taking jobs that don’t even require college degrees.

#14 In the United States today, there are more than 100,000 janitors that have college degrees.

#15 In the United States today, 317,000 waiters and waitresses have college degrees.

#16 Right now, there are 5.9 million Americans between the ages of 25 and 34 that are living with their parents.  According to recent Census data, men are almost twice as likely to live with their parents as women are.

#17 At this point, there are more than 3.5 million Americans that are behind on their mortgage payments.  Young people that were offered “teaser rates” on their first homes before the housing collapse represent a large proportion of these mortgages.

CNN recently featured the story of 29-year-old Ginny Gant….

I followed “the plan” to achieve the American dream and now I feel like I’m caught in a stagnant nightmare.

My husband now works for the Navy as a civilian and I am a high school teacher. We bought our two-bedroom townhouse nearly at the peak of the housing boom for $196,500. We’re underwater on our mortgage with a high interest rate. I’m looking at having to stick with this house for eight, nine, 10 years.

I really would like to have two or three children, but I just don’t think it’s feasible to have that many children in this house. It’s too small to have a family and it’s not what I envisioned for myself when I followed the rules.

#18 The total value of household real estate in the U.S. has declined from $22.7 trillion in 2006 to $16.2 trillion today.  As noted above, large numbers of young Americans bought homes in the years leading up to the housing crash, and they lost a ton of wealth when home values plummeted.

#19 We are facing a retirement crisis that is absolutely unprecedented in U.S. history.  Right now, more than 10,000 Baby Boomers are turning 65 every single day.  Young Americans are expected to pay for their Social Security benefits, but Social Security will not be there when Americans under the age of 30 get older.

#20 Young Americans get arrested at a far higher rate than older Americans do.  Amazingly, 30% of all Americans get arrested by the time they reach the age of 23.  Once you spend time in prison, getting a good job becomes much tougher.

#21 Approximately one out of every five Americans under the age of 30 is currently living in poverty.

#22 In 2010, 42 percent of all single mothers in the United States were on food stamps.  A very large percentage of those single mothers are under the age of 30.

#23 According to one recent survey, only 14 percent of all Americans that are 28 or 29 years old are optimistic about their financial futures.

#24 The U.S. government is stealing about 150 million dollars from our children and our grandchildren every single hour.  Younger Americans will have to bear the burden of this debt far longer than older Americans will.

So what do you think about the plight of Americans that are under the age of 30?

Please feel free to leave a comment with your thoughts below….

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comments

  • Gary2

    All of this is thanks to the republican great recession caused by immoral and discusting conservative policies.

    Obama is way too conservative and things are not improving.

    He needs to move far left to fix this country.

    • MisterC

      Wake up! Right wing, left wing…..SAME VULTURE!! You are lucky that there isn’t a “stupid tax” because it would bankrupt you.

  • Gary2

    Tax the rich hard and spread the wealth to the yoouth. Forgive all student debt and tax the rich to pay for it.

    Tax the greedy to help the needy

    • Colin

      Clueless……..

    • http://www.2guys1stump.com Turd Burglestein

      An obvious product of our public schools and victim of the no child left with a mind program.

      • sensetti

        Thats a great post, made me laugh
        sensetti

    • http://glblgeopolitics.wordpress.com/ Aurelius 7

      Gary2 never worked a day in his life. He constantly berates, slanders and makes blanket statements when assailing conservatives. He even at one time posted here that he wanted conservatives dead, literally. He loves the attention.

      I’m clueless as to why his posts still get approved here.

      Don’t feed the trolls.

    • dudley

      Tax the greedy to help the needy Yeah Riiiight!!!
      Then the greedy give up trying to run a business with so many rules and idiots like you with their hand out.

      Then there won’t be any more greedy to feedy the needy and we will all be equal.. .Equally miserable. You are a ************* idiot with your stupid ideas that have time and time again been proven to NOT work…

  • Golden Child

    Once again, Michael, you’ve hit the nail on the head. I’m 28, college-educated and broke as all hell. I’m lucky my aunt, who is a childless doctor, paid for my overpriced worthless college education in full. Otherwise, I would be financially ruined for life. College is absolutely worthless at this day in age. I went to a top ten honors college and the level of teaching and education at that institution was absolutely pitiful. Teachers would disappear for two hours a time during three hour classes and do as little “teaching” as possible. It is basically impossible to flunk out of college unless you binge drink yourself into too many life problems or quit school voluntarily. Even though I went to a “nerd school”, there was still a bar ON CAMPUS above the cafeteria where kids were getting drunk 7 days a week! This is a proof that every college is a party school. Colleges are just an expensive country club for rich kids to party for four years and use their elite family connections to get “jobs” upon graduation. All of the normal poor and middle class kids going to college without rich boy connections are screwed. Even if you get a job upon graduation, you will be making peanuts and probably have tens to hundreds of thousands of dollars in debt. For what? To learn a bunch of useless facts that you will forget in three months? It doesn’t help that student loan debt is the most toxic type of debt that cannot be expunged even through bankruptcy. College for Generation Y will be remembered as one of the greatest scams in the history of mankind. Even though only about 25% of the American population holds at least a Bachelor’s degree, only about one in five recent college grads in the past few years are fully-employed in jobs requiring a degree. It is absolutely pathetic that this country cannot provide jobs for the minority of the population that holds a college degree.

    For some strange reason, older folks who came of age in much better economic times love to chastise every single unemployed and underemployed young person under 30 for not being a rocket scientist or an engineer. This is quite idiotic seeing as only a tiny portion of the American population can perform such jobs. America ranks damn near dead last in terms of standardized math scores yet we expect millions upon millions of American kids who hate math to become engineers?! Contrary to popular belief, there is no math/science/technology shortage in America. It is not hard to find hundreds of sob story testimonials of unemployed and underemployed science/math/technology graduates grinding away in minimum wage Mcpoverty. The wages of most types of engineers have been flat for decades.

    http://www.washingtonpost.com/national/on-innovations/president-obama-there-is-no-engineer-shortage/2011/09/01/gIQADpmpuJ_story.html

    http://www.youtube.com/watch?v=exx4uCC0eJY

    All in all, more kids are going to college these days because there is no more manufacturing plant down the street. There are more white collar jobs than blue collar jobs left in America because the U.S. is a post-industrial country and illegal immigrants have stagnated wages in many service sector jobs. Also, Americans refuse to live like illegal immigrants who share one bedroom apartments with 20 other people while carpooling in a rickety old vans to work 60-80 hour weeks. The era of the average Homer Simpson working at the Nuclear Power Plant without a college education while still living in a safe neighborhood in a big house in the suburbs has come to a close. Now according to all the Nobel Peace prize worthy genius internet guidance counselors out there, you either become an engineer, a fry cook or starve. Anything less than being the top 5% of the most intelligent (AND WELL-CONNECTED) college educated people deserves to live in abject poverty while enjoying a quickly declining standard of living. That’s right kids. According to the Boomers, if you aren’t a robotic super-smart math nerd or an already well-connected rich kid with top 15% earners as parents with connections, you can enjoy living in poverty for the rest of your life. This is just as bad as saying selling crack, rapping and playing pro basketball or football is the only way out of the ghetto. Instead of continuing to create wealth for America, the aging hippies of the non-working Boomers squandered all of this country’s wealth while Generation Y and Z will be picking up the tab.

    • Michael

      Good comments.

      There are a few under 30s out there that are doing well, but most are really struggling.

      Michael

    • Mike

      I was doing ok and I am 30. I took some college in Accounting but I need a lot more. These past couple of months have been hard because I have not been working. I will keep applying and maybe move in with my parent (s). These days we can’t live alone and we sure can’t buy houses and cars. We need to accept this reality right now or we will end up with even more credit than we already have. Most of my family my age are living with someone as well. I think we are all in the same boat right now.

    • Colin

      What did you go to school for (what degree of study)? Did you have a plan going in or coming out? What are you doing now?

      I guess your comments are good in an ideological way, but if you’re going to rant like that then be accountable to some degree for YOUR education.

      Its not ALL their fault. You’re 28, own your future!

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    • S. Wiseman

      Thank you for sharing. Another typical statement from boomers I am tired of hearing “just work hard and you too can be successful/rich…” or “the problem with you young people is you don’t want to work hard.” Both statements are absolutely untrue and absurd if you stop to think about it. The people at or near the bottom of the economic make work pyramid could never work hard enough to earn a good living for themselves and their families. All of their energies – and the energies of their children – must be dedicated to putting clothes on their backs and food on the table. They are quite literally exhausted. You cannot whip a horse to work harder if he is already exhausted. It is insulting to suggest to the poorest among us that all they have to do is “work hard”. It may be painful to admit, but people who are born of means do in fact have connections and a support system that enable them to achieve certain successes more easily than humans at the lower levels of society. It takes more than “hard work” and not everyone is cut out to be an engineer or a doctor. No one should be shamed for choosing to be a farmer or a carpenter. Surely we all know by now that those at the top or near the top of the global economic pyramid scheme DO NOT WORK. Politicians do not work, the uuber rich do not work. They manage, dictate, take from others the means to fulfill their lavish lifestyles, then boast about how hard they worked. I don’t mean to over generalize, but it is simply the truth. So stop insulting the working poor (soon to include the majority of the middle class). It is an impossible and sometimes fruitless endeavor to work so hard and not enjoy the fruits of one’s labor. Ultimately hard work will lead to an early death. Just ask the dirt poor Haitian.

      • roger

        All very true Mr. Wiseman.

    • S. Wiseman

      Note to Golden Child…
      In case it wasn’t understand, when I said “stop insulting the working poor” my gripe was with the boomers and those who support the “work harder” mantra. Not with you. Just thought I’d clarify things.

    • SalaciousCrumb

      It’s not just Gen Y. I’m Gen X and have complained about the Baby Boomers(and the Greatest Generation for that matter) fucking everyone younger than them since the early 90’s. Everyone knew that Social Security was Pby Ponzi scheme back then and that we were all going to get royally screwed by that spoiled generation of vipers. They’ve been squatting in most of the best jobs for decades now and could care less what happens to future generations. They are literally that self-centered. The best you can hope for is to take advantage of them when they get old and feeble. The old lady down the street needs help moving something? Time to pay up Granny! No charity work for geezers these days!

  • REED RICHARDS

    All,

    Fear not. All is as it should be. The education system is working as it is designed to work. More dumbed down, worker drones with no critical thinking skills who only have three words on the brain, yes, sir, and ma’am. These drones are just smart enough to operate machines and systems but still dumb and stupid enough to create wealth and comfort for the power elite without questioning their motives, goals, and methods and to work as “law enforcers” and guards for the filthy poor masses who disagree with and/or question the aforementioned class system. Also, keep in mind, the whole amerikan experiment was built on wealth generation. Endless growth and money creation, along with a culture of death, is at the heart and soul of amerikan life. This will result in the empire’s collapse, and hopefully, when that collapse comes, the few remaining and surviving souls will have the presence of mind and the force of intellect to rebuild a more egalitarian society.

    • DaytoDay

      Reed,

      When is the last time you heard someone use the words (Yes sir, and Yes mam)?

      I got hired at a hotel, at the end of 2009. The manager who hired me, said that I beat out over 100 applicants for the job (As a men’s locker-room attendant at the spa), and it was mainly because of my manners.

      Unbelievable huh?

      “Once you stop hearing the words sir and mam, the rest is soon to follow”- No Country For Old Men

      • REED RICHARDS

        DaytoDay,

        Seriously? If you have to ask that question, then you obviously need to get out more………..

        All the asylum states churns out are college grads who have no capacity to think on their own, only know how to take orders from someone else, and who lack any creative spark. You can shoot the messenger all you want, but the fact remains is that this society is centrally planned, led from the top down, and in that type of social hierachy, unless you are at the top, you are definitely taking orders from someone else………….

        • DaytoDay

          Reed,

          No, I know what your saying… The corporate structure is made up of nothing but “Yes men”.

          However, what I’m saying is, your typical or average teenager or “young professional” doesn’t have any manners…

          I know this for a fact… And maybe where you live some people still do, but the majority of the youth and young people in our society, do not have any manners, mainly because, they weren’t raised with any…

      • mondobeyondo

        Politeness is pretty much dying in today’s society.

        Never mind chivalry. That died out last week.

  • William

    Two comments:
    First, do not be so hard on Social Security. The US Congress owes the Social Security system about $2.57 TRILLION, which represents the PAID IN excess Social Security taxes collected above what was required to pay out to recipients. Of course, these excess taxes were squandered by IDIOTS in the US Congress from about 1970 until the system went into the red last year, or was it 2010. Anyway, there is NO way for this debt to the Social Security system to be repaid. America is BANKRUPT!
    Second, the cost of a college education is directly related to the wildly excessive salaries paid to university presidents, staff, professors and, above all, COACHES. Now, if you want to get RICH, get a job coaching at a major Div I school.

    • Deborah

      William, you are so right! My husband tells me that the college coaches are sometimes paid more than division I coaches. How do they get away with this?

      • Deborah

        sorry I meant more than NFL coaches.

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  • KyTim89

    Thank you for this topic, Michael. As a 23-year-old man myself the economy is getting worse for my demographic. With the retirining of the Baby Boomers all oof the tax burden that goes towards maintianing or society and its bloated life style is going to be moved to the shoulders of the younger generations. As you have hintedd in your article, young people are becoming increasingly responsible for the monetary abuse that has been conducted by the older generations. There are simply not enough
    jobs or opprotunities for the youth to maintain the system.

    To add insult to injury, most of the youth of today have been so pampered throughout their lives to the point that managing the civilization is not going to happen. Kids today are more interested in partying than fixing the economy or doing away with trade deficits. It is simply unsustainable and it is not going to last forever.

    Right now most of the youth fall pretty much in the liberal spectrum. However, as the economy gets worse the youth will become increasingly conservative because their lives will depend on it. Look at how many young people support Ron Paul. He would allow young people to opt out of the Social Security ssytem if he were elcted president.

    The future of voting is going to boli down to the young versus the old. The elderly are going to increasingly vote for leaders who want to maintain the entitlement ssytem jst a little longer. The youth will vote for leaders who see that a fiscal calamity on the horizon that if entitlement reform is put into place, the US will be bankrupted beyond reproach.

    • KyTim89

      I hate to toot my own horn, or sound like a narcassit, but I consider myself to be part of the fututre of conservative. I am 23-years-old and I advocate pretty much all of Ron Paul’s political and economic positions. I could list them, but this website would do it better:

      http://en.wikipedia.org/wiki/Political_positions_of_Ron_Paul

      • Nexus789

        You may not have noticed this but the US is bankrupt and vast swaths of US manufacturing and skills have been trashed and sent overseas. What you really want to do is change the policy direction 180 degrees. Without a change it will simply get worse.

        Read this – this is what the US could have become – an innovation powerhouse and would have have blown China into the weeds. Instead Americans now use debt to buy Chinese made products that are made in what could be described as ‘prison factories’. Apple has perfected this model – nothing is manufactured in the US.

        http://quadrigy.com/papers/Technology-based%20Planning%20and%20Impact.pdf

      • xander cross

        You also probably believe ron paul’s states right ideas as well. You know, like how he don’t like black people as he stated in his own newsletters. Yes, he did wrote those letters, so why you all support a guy that truly wants to bring back segeration?

        • http://endoftheamericandream.com Mike B

          Your insight is as astounding as your grammar. Another nitwit with tunnel information.

    • Michael

      Very insightful comment KyTim89.

      Michael

    • Mike

      You are so right. The Baby Boomers call our generation pampered and expect everything, when they have everything, real estate, good paying jobs, assets etc. and expect it all. They want what their parents had, and both my grandfather’s had solid pension plans and nice paying secure jobs with money in the bank at 80. I was laid off and got hardly anything. I will most likely never get a pension plan and will be living with my parents for now. The middle class is nearly gone and so is the American Dream. It was sold in the mid 2000’s with the subprime mortgages, GM bailouts and the high unemployment. However, we need to keep moving forward and fight for our dreams to have a decent job and be happy and all that. If we don’t then it will truly be gone for our kids. Occupying Wall Street is not the answer either.

    • xander cross

      Ask Ron Paul about his drug policies about free use of herion and crack. This guy is a con artist at best and personally, I think he knows it himself, if you doubt me, then ask one simple question? why does he not bring up the vote rigging that happen in Iowa? His states right idea actually scares me because he is indeed a racist. Just read what he wrote and his connecitons to the John Birtch Society.

  • Cinderella Man

    That what is so fustrating about the older generation. They tell us “Go to college, work hard, save your money, make the right choices with your investments and SOMEDAY you will can have a piece of the American Dream. What happens when SOMEDAY never comes? My Dad (a boomer) still thinks that there will be SS money for him when he retires. Well the boomers have a major reality check coming their way. The truth is there is not going to be enough Gen Xers and Millenials to cover their end of the ponzi scheme. They cant retire so there is never going to be opportunities for the younger generation to come up. This is a fustrating situation and time to be a young American! What are we supposed to do? Live on welfare forever? One thing is for certain there is waaaay too many of us with college degrees. Now its not even worth having unless its in the right job field. Liberal Arts degree = “Would you like fries with that?” We’rem screwed. Thats why so many intellegent young people like Ron Paul. He is the only politician that genuinely cares about the massive debt that is going to be thrust upon GenX and Millenials. Everyone else could care less but there is going to come a day when the govt. defaults on its obligations to seniors by cutting pensions and SS and Medicare and the oldens will find themselves right along with their children in a living hell.

    • xander cross

      Ron Paul is using the youth to his advantage because he knows you are all dumb enough to support him and amazingly, this guy been in congress for over a decade racking up all of those millions from so called “moneybombs” that goes to his pockets. Just read his newsletters, that is what he truly thinks just like how he walked off that CNN interview when they question him about it. I got a feeling if paul ever because president, he truly would bring back segreation because it’s states rights.

    • mondobeyondo

      Those rules worked for the older generation. Back then, you could come home from the war, go to school on the G.I. Bill, or get a job at a factory at a good wage.

      It’s now 2012. That doesn’t work anymore. The paradigm has shifted.

      Oh by the way, would you like any ice or stamps today?

  • JasonD

    My old college trick 15-20 years ago (when text books were expensive as well) was to get the syllabus, go and buy text books, then take them to Kinko and copy the sections that I needed and have them binded, then take the damn things and return them and get my money back! Costs about 33% as much.

    • mondobeyondo

      Cliff Notes worked for me! *giggle*

  • Gay Veteran

    “…#18 The total value of household real estate in the U.S. has declined from $22.7 trillion in 2006 to $16.2 trillion today….”

    And that is why the Big Banks are bankrupt. Yet these zombie banks continue to exist. Why? Because they have bought the politicians, both Republican AND Democratic

  • Mike

    Two words from a male who is 30…baby boomers.

    • mondobeyondo

      Well, I blame the boomers as well, but as a front-line member of Generation X (born 1965), I can safely remove myself from that group. Hee hee!

    • dudley

      The democrats under LBJ ************ this country up way before any of us boomers were old enough to vote. So don’t blame it all on us.. There is equal blame for every generation.. I blame the latest generation of young folks for voting en mass to install a marxist in the white house who is trying to ruin our country.

  • Mike

    One more thing, the American Dream was sold by banks and Walls Street. The key to our economy is good jobs, affordable housing and transportation. All of these have been taken away with high unemployment, subprime mortgage crises and high fuel and car costs. The middle class will soon be gone as employers are flooded with resumes and can pick and choose the highest educated or who has the best connections, etc. Eventually we will die and the tax base will be gone. The Bush Administration did really nothing and President Obama is crippled by a broken government.

  • D

    Education was corrupted by the elites (more specifically, the Rockefellers) a century ago. This is all in the works and was planned from the beginning.

    Students are indoctrinated to the believe that college is mandatory to live the delusional American dream. The elites knew they couldn’t make them debt slaves from housing market, so hiked tuition costs with no investment value was the way to go. All college graduates (young and old) are now pawn slaves to the money changers. It’s all fitting perfectly into place for when the NWO overtly operates.

    And to the graduates who actually do get related jobs to their degree, salaries will be forever low and stagnant until the dollar collapse.

    And guess what happens when the dollar collapses?

    :-0

  • Ron

    Actually I took an Accounting Certificate, continuing education, and it cost about $5,000. The definition of lower middle class is some college, or even just high school. I could never afford Harvard and I accept that. There are also scholarships and low interest student loans. Just saying if there is a will there is a way.

  • A Dodgy Bloke

    Jack Spirko of the Survival Podcast hit on this episode 817, young people are not getting the chance to develop experience and job skills. Add to that with retirement becoming more and more of a pipe dream people are working well into thier seventies.
    It used to be not everybody got collage degree, there used to be good paying industrial jobs people could get right out of high school, or out of the military. Those days are dead and gone never to return. This is a global issue young people in Ireland, and Greece are leaving for other part so of the world. Young people in Spain who have skills in other languages are leaving for Germany or Northern Europe. Governments are shoveling money to keep the stalling economies afloat. Sooner or later this has to stop you cant argue with mathematics or “Taxing the Rich” as some of the dimmer bulbs have suggested. Brace for impact.

  • mondobeyondo

    My advice to those under 30, is that old 1960’s saying, “Don’t trust anyone over 30″.

    Except me. You can trust me.

  • Deborah

    I just saw a segment on a local tv station called “on the spot”…the reporter interviews random people and asks questions about random things to put the people on the spot. This weeks segment she asked some younger (under 30) women about politicians running for the repub nomination. They had no idea who was running. At the end she asked an older woman (about 50ish) who was with a young teenage girl who the vice president was. This woman had no idea. Everyone was laughing as if this is comedy. At that moment I knew that this country truly is doomed. How is this funny? How much do you want to bet these people just went home to their social media, desperate housewives lives. I wonder if these people even consider looking for the truth. I believe that someone wants us to be dumb, broke and sick. Sad.

  • Tatiana Covington

    “We’re boned.”–Bender the Robot

  • Bob Marshall

    While i can understand the anger and frustration from the younger working generation, it wasn’t we baby boomers who decided to put the Social Security funds under general funds. It was congress and they replaced those funds with i.o.u.’s. If congress have left these funds alone and only used them for their intended purpose they would be plenty of funds for years and years.

  • Ken

    No one mentioned the elephant in the room, so I will mention it: co-education.

  • Colin

    The kids are where they should be. Where are the parents? College is worth it if the young ones coming out of high school have the forethought to seek a profession with longevity (ie: health care provider, scientist, mathetmatician, biomedical professional, etc).

    The only problem with this is that it requires critical thinking in the curriculum and kids actually have to do math, science, solve and understand inert gas laws, know the difference between an acid and a base, etc.

    Bottom line, the work ethic required to obtain a worthwhile degree also requires mental fortitude beyond anything that has ever been asked of them. Who is asking the kids to be more? Not many and certainly not the parents…..

  • VyseLegend

    Prescient article, as usual Michael. The picture at the end ads a comic touch to an otherwise outrageous situation…at this point its time for people to wake up and realize this comedy of ‘civil society’ must be taken for what it is, and abandoned.

  • oldfart

    As shown in some of the comments above, there’s a brewing generational war in America. On one side, the greedy, self-centered, self-righteous boomers, and on the other side, the ticked-off Millenials. The Mils spent their childhoods believing they were very special. But their childhoods also are turning out to be the material high point of their lives: starting in their 20s, it’s been all downhill since.

    The boomers–as arrogant as ever, as filled with selfishness and self-righteousness as ever, are beginning to try to bully the Millenials into submission. It’s not working.

    The coming generational war will evolve around the issue of “who is to benefit in America in the future”–is America to become a gerontocracy, run for and by aging boomers, or is it to be a country which still values its young, recognizing that as go the youth, so goes the future.

    The boomers once were on the other side of this issue, but they’ve developed a forgetfulness about youth now. The boomers have become to the 2010’s what their parents were to the 1960s; but the boomers are much harsher and more bloodthirsty than their GI Generation parents ever were.

    The Millenials will eventually win, but at great cost. The end for the boomers, however, will be much harsher and much more abrupt than they can imagine. If this war really cranks up, I can see a sudden normalization of euthanasia by about 2020. “Put Granny to sleep” may become a viable option.

    • dudley

      Your brain has died from sniffing its own farts if you really believe what you have written.

    • sadboomer

      I was wondering when someone was going to mention euthanasia. I am unemployed now. Have been for a couple of years. The economy, heck the country, is in dire straights. I hope they do have assisted death (suicide) for us soon to be old people. I don’t want to stick around and be a burden on my children or the country. And if and when the economy collapses, I just rather not be here.
      And as another post indicated here, our education system was planned since ~ mid 1800s. Critical thinking was being taught until someone discovered the “prussian method” of learning. Thus, the ultimate, planned dumbing down of America. The perfect set-up for today’s world of over population and export of jobs.

  • Cinderella Man

    I feel so emotionally drained today. After watching Obama Caesar last night, I feel an impending sense of doom headed our way. Which sucks cuz I was beginning to think that we were turning the corner. Last night’s state of the dis-union speech led me to believe that our nation is filled with useful idiots that has to have their govt. do everything for them. My generation X, and the one below it is one of learned helplessness. We have been raised by our mothers, told that mediocrity is rewardable, and that govt. will solve everything. Its beginning to dawn on me that we are truly f—ed. How many 30 and 20 somethings out there that are working two jobs to try to make ends meet and are falling further and further behind each year? Oh, to be a fly on the wall in young american household today! Just imagine the despair and fustration you would here. It is up to us GenX to put this right. No offense Millenials, but alot of you have been purposely dumbed down so you have no knowledge of the past, and no way to defend yourselves from the onslaught of tyranny.

  • Chris

    Hard for me to feel sorry for my peers at 23. They scoffed at me for deciding to work with my hands while they went off to get college educations. Now I have a surplus of experience and unlimited career mobility and they are debt slaves who can’t find anyone impressed by their piece of paper and lack of real world experience.

  • El Pollo de Oro

    “Hey kiddies, keep spending that money in college. Get that degree as an MBA. You too can have a job at Wal-Mart. You can become a cashier or a clerk.”—Gerald Celente

    I’ve often said that even though Generation X has been seriously screwed by economic conditions in The Banana Republic of America (formerly the USA), Generation Y has it worse. At least Gen-X benefited from the prosperity of the 1990s; a lot of Gen-Xers did really well in the 1990s and were able to put some money away, but Gen-Y entered the workforce too late to benefit from that period of prosperity. So even though many Gen-Xers are presently earning much less than they did during the Bill Clinton years (assuming they even have a job), much of Gen-Y have never worked during a period of true prosperity. And Generation Z, God help them, won’t even be old enough to remember a time when The Banana Republic of America (BRA) wasn’t the rotting, decaying, collapsing Third World horror movie it has become.

    Gen-Y can look forward to a lot of poverty, a lot of unemployment, and a lot of crappy, dead-end minimum wage service jobs. But when the going gets tough, the desperate and the destitute do desperate things—and quite often, they do them with guns and knives. More and more members of Gen-Y (and later, Gen-Z) will enter the underground economy and seek employment in the following growth areas: drug trafficker (El Chapo Guzman is always looking to expand north of the border), kidnapper, carjacker, hit man, violent home invader. And none of those jobs will require college degrees, only proficiency with firearms.

    Welcome to the hellhole that cannibalizes its youth. Welcome to The Banana Republic of America, dying empire of the Third World.

  • Fred

    Well said GOLDEN CHILD. You hit it right on the head!

  • Kelly B

    I am 20. I dropped my psychology major to major in elementary education, solely for the reason that there’s a program that pays for all my school if I agree to teach in a critical needs area where they tell me. It will likely be in a rough part of the Mississippi delta. Lets hope I escape with my life. I wonder if I will be able to secure a job after my service is up here in this state..

  • Kelly B

    If I were not in this program, my college 4 years in total would be about 80,000 for 2 years community college then 2 at public university in supposedly the cheapest state in the nation.

  • Otown Right Guy

    I can think of three recent young college graduates I know that are all in service/retail jobs and with no prospects of anything better. I hope their generation will realize that their chief enemy and problem is Washington DC. Judging by the success of Ron Paul with young people, I’d say that they are figuring this out.

  • Colin

    Though I am very concerned about my mother’s generation (the “baby boomers”), my generation (the “Generation X”), and the generation after me (the “Generation Y”), I am thankful that I was not born after 2000 for if trends continue they will face greater adversity and will be living in a country where their success will be dependent on the wealth of their parents and not on their individual merits.

    Our nation has chosen to invest in the needs of the capitalist class to the expense of the other classes. This is a value-based decision which has far ranging consequences for the health and stability of our nation. The generations that live now and the generations that are to come will be impacted by this decision.

  • KerriS

    This is not a republican vs. democrat problem. Who benefits from all this? The bankers and they own both parties. There is only two candidates that are talking about the root cause of the collapse of our economy and that’s Ron Paul and Buddy Roemer. Great book is Web of Debt by Ellen Brown.

  • A Citizen

    Agree with what most people have said. As a under 30 individual I am very disappointed in our politicians. I emphasize and agree with Golden Child on mostly everything. I to will not graduate with debt next year, since my parents only make me pay for books (which are still overprice). However, as trivial as it is I disagree that all colleges are party schools. I go to a school where we can’t drink, smoke, have premarital sex etc.. The workload is strenuous and many have failed out.

    • Kim

      It is sad that you are in college and yet you used ‘a’ instead of ‘an’ in front of under (As a under 30…) in your second sentence and you used ‘to’ instead of too. It should have read: I, too, will not graduate…
      It’s totally irritating to see these errors all the time. I blame the schools for the lack of phonics.

      • http://none.com JB

        Ever consider the possibility that it was a typo?

  • REED RICHARDS

    Otown Right Guy,

    For their sake you had better be right about this. With studen loan debt bigger than most mortages, young people need to realize that the democrats and the republicans, a.k.a. the war party, are going to do everything in their power to not only restrict freedom, but to finally crush them economically once and for all. The sooner they understand this message and act accordingly, the more they will be helping themselves……………

  • Ed

    I think the solution is fairly simple. If the corrupt economy isn’t working for you then use an economy that does. Get in the habit of using bitcoin. Eventually, the corrupt economy that does not work for you will cease to exist because the bitcoin economy will not be paying the taxes that are needed to prop up the corrupt economy. In the mean time, feel free to get what you can from your parents. After all, they’re the ones that supported and helped build the corruption in the present system. They owe you big time.

  • Nick Nailer

    Fair is a place where kids ride the Ferris Wheel and rednecks show off their livestock.

  • TruthBeTold

    I remember what it was like growing up “middle class.” My parents didn’t have an extreme amount of money. But they did make enough to have a HOME and a FAMILY. It is those two exact things that I never plan on having, because I simply cannot afford to.

    Aren’t those two things the quintessential elements to the “American Dream?”

    My generation has woken up from that dream, but we are quickly realizing that we are now living the American Nightmare.

  • Michael

    KyTim,

    I would much rather vote for Ron Paul than the other candidatates. He is right on foreign policy, civil liberties, and ending the Fed, but he will not do anything to improve the job situation for 20 and 30-somethings.

    Ron is more of a Libertarian than a conservative, and as such, believes the market is always perfect. He opposes NAFTA, but only because he believes the government should have no business negotiating trade agreements. He supports free trade, yet ignores the massive trade deficits and job losses that result from our unregulated trade policies vs. other countries’ mercantilist methods.

    But if somehow Ron wins, at least you won’t get sent to Guantanamo for protesting.

  • TinkerTailerSoldier

    Folks, I have never heard more whining (metaphor) then on this webpage – you guys went to screwel and think that just becuase you spent alot of money that you are entitled to a good paying job? Well let me tell you people a little something about life… YOU HAVE TO START OUT AT THE BOTTOM. Most of you are thinking that you should be the CEO or something and get paid lots of money. Here is my retort – “The world needs ditchdiggers too.” So you think that you hustled and worked hard (by going to school??? – For real??? School is work???) I am laughing my ass off. The real world REQUIRES sweat, toil, industry, nerve and yes HARD WORK, with a little luck thrown in as well. Mowing lawns with a push mower, make enough money to buy a gasoline powered lawn mower, continue to work (hard); save up money, work at the car wash, make more money and save it. Bought a bike – that was transportation. Moved out of the house at 16. Continued to work and save money. Found my sweetheart, got married, we both worked, saved money. Purchased our first home with cash saved. The moral of this story – WE are successful, becuase we SAVED money. All of you, who went to College, you didn’t save money. You spent money, and NOW you think that somebody OWES you???? You get out, what you put in. If you put NOTHING in then that is exactly what you get….NOTHING. Spending money is NOT WORK. Well maybe for all of you crybabies….boooohooooo. Cry me a river. Like the article says, you don’t go to college to learn anything, it is a party venue. If you still invested in that….. How stupid can that be? Life is hard, life is alot harder if you are stupid. For those that are going into survival mode and are wising up…your time is short, but good luck. For the rest that think that something is owed to yourselves and will continue to do nothing…“Violence, naked force, has settled more issues in history than has any other factor, and the contrary opinion is wishful thinking at its worst. Those that forget this basic truth have always paid for it with their lives and freedoms.”

    • http://none.com JB

      You would do yourself some good, sir, to recognize that economic conditions have changed today such that many of the things that worked “back then” for you no longer apply. True enough, saving money to pull yourself up by the bootstraps worked for you, but I might suggest that you are making some key assumptions that simply are not true; to wit, that the economic environment in which we live is a static one. It is not. It is dynamic. Things have changed which make your success story infinitely more difficult in today’s world. For example, if you did those very same things today which you say brought about your affluence, you would be living on the street. Get a grip. Since 1999, the purchasing power of your SAVED DOLLARS has declined approximately 30%, not even counting inflation! Are you starting to understand? If not, please allow me to illustrate for you. Say, for example, you made $10 per job mowing lawns back then, it would buy you several gallons of gas, food for a couple of days, with money left over to SAVE in the bank at 5% or so. Today, however, you may get $20 for the same job, which will buy you one meal and two gallons of gas with nothing left over to put in the bank at 1% interest. I could go on and on re: other examples of the differences, but somehow I doubt you would be open-minded enough to even consider anything other than your typical baby-boomer, me me me, preconceived notion of “if it was good enough for me and I made it then there must be something wrong with everyone else today who cannot” attitude. TYPICAL SELF-RIGHTEOUS AND SELF-CENTERED BABY-BOOMER!

  • Groener

    One thing is clear. Girls who went to college will never , ever marry someone who didn’t, even if the latter might drive a nice Cadillac.

  • mike

    @Groener, The way american women are today, who’d want to marry one anyway?

  • Disciple

    I know what it’s like. I’m 20 years old and push carts at a grocery store, and that’s in a LUCKY neighborhood. I would love nothing more than to move out to the country and live off the land. But many are economically stuck and imprisoned in suburban/urban area’s. There’s just NOWHERE to go.

    The Lord Jesus Christ is the only one who will sustain you through these times. Repent and believe the Gospel before time runs out. Jesus is coming soon. The Kingdom of God is at hand.

    • n. daniels

      Disciple; Send me an e-mail address. As I read your post, God placed on my heart that I should talk to you and maybe offer you a way out. Yeah I know it sounds weird but when GOd speaks I try to listen.

  • Myblackbridein12

    Ladies and gentlemen,

    The plight of American’s under 30, as well as every other American, is the flawed monetary system that begets all of the public and private debt problems. The bottom line is this – YOU CAN’T HAVE HONESTY GOVERNMENT, BUSINESS, OR AN HONEST SOCIETY WITH FAKE/DISHONEST MONEY! If you want this country to be turned around for the better, the solution is simple, elect RON PAUL!!!!

  • BenjiK

    10 years ago, at age 23, I was married, we each had a good job and had bought our first home. The majority of 20-somethings I now know have yet to move out of their parents house. Sadly, there are many more now in their 30’s who have moved BACK in with their parents.

  • momof3

    Common sense and smart choices!! I am 29 and a stay at home mom. My husband and I worked hard and bought out first house when we were 20 (with no parental help). I went back to college a few years ago because out of high school I did not want to aquire debt on a degree that I wasn’t 100% sure I wanted, especially if I couldn’t find a job with it. My husband has no college degree, just a trade. We are by no means rich. We struggle and have a very, very tight budget! We have a mortgage,but it is not more then our house is worth, very little credit card debt, and no school loans. We are very fortunate! It worries me to think that going to college is drilled into our kids when clearly, that is not necessarily the answer!

  • Thunderbird

    First of all you young people will need to change your mindset about the status quo and about how this present economy works. You are the captain of your ship. Start thinking about being an entreprenear. This is what this country needs to repair the economy; new entreprenears. Develop your skills to manufacture and sell. For example: If you have carpentry skills make furniture in youe garage and take to the flee market to sell or sell on creigslist. Develop barter and sales networks among your friends. As you develop your skills and keep your eyes & ears open opportunity will show up out of seeming nowhere.

    With a basic knowledge of physics, mechanics, chemistry, and math you have the knowledge to create new products that can be sold to others around you.

    The reason jobs are scarce is because due to government and corporate cooperation the economy has become controlled for the purpose of obtaining maximum profit for a select few. This now leaves you young ones mostly out of the equation. A controlled economy is a closed economy. The way around this is to create your own products and services to offer the buying public. As you succeed then you become a job creator and introduce competition back into the economy.

  • John the Blind

    71 self employed since 32…..
    first get the parasites off your back
    it you went to college you weren supposed to learn how to learn
    quit whining, make a plan and workm your plan…
    make your own rules but accept the responsibility for your mistakes, and thank yourlucky stars you live in the here and now and not when your Grandparents were young and America could be really cruel except when you consider the rest of the world a hundred years ago

    Get up in the morning and go make a difference
    Take care of your self by being useful to others and you willm prosper

    I guarantee

    John the Blind

  • Melanie

    US situations is far worst than the one we have in Canada, and yet no revolutions? Follow Quebec’s lead and start going out in the streets with a casserole and show your anger to the governement. If you think only whining will help…

  • Gemstone

    I only needed this for homework, but I’ve learned quite a lot from this, it just shows how idiotically unfair the world is. Although I’m not American, I totally agree with those facts