The crash is hard when it comes. Our poor yoot were deceived and ignorant about what/who they were voting for. Perhaps their eyes are slowly opening....
[U]pper-middle-class professionals—are suddenly downwardly mobile. For years, they used rising family wealth to help foot the bill for college, down payments for houses and start-up cash for children’s careers. But pay cuts, layoffs and the decade-long flat-lining of the stock market mean many families can no longer help their children.
This comes as young adults could use a financial helping hand more than ever. The unemployment rate for workers ages 16 to 29 was 15.2% in March, the highest rate since 1948, according to the Bureau of Labor Statistics.
In general, highly trained and educated workers are faring better than those without degrees in this labor market. The unemployment rate for college graduates is 5%, compared with 9.7% overall. In general, the employment picture is improving, with employers adding 162,000 jobs in March, the biggest monthly gain in three years.
Even so, the average length of unemployment, 31 weeks, is at its highest level since 1948. There were a total of 2.3 million unemployed college graduates in March 2010, 1.45 million more than in March 2007, with heavy layoffs in white-collar sectors such as finance.
So the young are being penalized by Obama’s economic policies and healthcare mandate. And those making over $250,000 (who voted for Obama by a majority) are now having to pay for the rest of the President’s welfare policies.
I think I’ve figured out Obama’s principles: Use them, throw them under the bus, move on to next target. No wonder he hearts Castro & Chavez.