Millennial malaise – the betrayal of America’s young

New college graduates face economic uncertainty thanks both to a lackluster economy and often, their own student debt. What isn’t so well acknowledged is the legacy of financial instability they’re inheriting thanks to imprudent public policies and associated actions of prior generations.

And don’t point that finger of blame solely at government. Every time parents and grandparents race out to enthusiastically support the building of opulent new schools, lavish parks (including water parks) or tricked-out government buildings, you add debt to your child’s future financial liability.

Best advice for college graduates going forward. Don’t spend what you don’t have. Your parents and grandparents don’t subscribe. If they did, Texas wouldn’t have more than $330 billion in local government debt with which you – the Class of 2015 – will be left.

This lesson is something you’ll also not learn from “educators.” Not K-12, not higher ed. If practical reality and student interests were a priority, the student loan drum beat that starts in middle school and with each year gains strength in its “everyone needs to go to college” message wouldn’t so fervently and mindlessly be promoted by educrats throughout a child’s scholastic career.

Solutions do exist, but millennials must first come to recognize and understand the problem.

From Millennial malaise: Reversing the ‘disinheritance’ of America’s young:

Is it time for an “American Association of Young Persons”? It’s not so far-fetched an idea according to Disinherited: How Washington Is Betraying America’s Young, a new book by Diana Furchtgott-Roth and Jared Meyer.

According to Furchtgott-Roth, the book is about creating awareness for America’s young, largely those born 1981 to 1997 and often characterized as millennials.

“This book was written to describe the process whereby our government is biased in favor of the old and against the young,” Furchtgott-Roth said Friday at an Austin book signing sponsored by the Texas Public Policy Foundation and America’s Future Foundation.

“It’s a systematic bias and not just a matter that we are expecting young people to pay off the $18 trillion in national debt and the $5 trillion in state debt although that is very important also,” she said. “It starts with education, it continues into the work force, it even extends into health care.”

Read more at Watchdog Arena.

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