Our generation is getting screwed by the political decisions of the past, generalized apathy and a lack of dedication to real change. Our vote holds the key to the country. This was shown in the 2008 election when the 18-29 vote represented 18 percent of the electorate compared to the 65+ vote, which accounted for only 16 percent. We have a great amount of power with our vote and our voice, but we fail to use it. As a result, our generation faces a combination of issues that—individually—were the landmark issues for many of the generations that preceded us. It is a common sentiment that this election will determine the course of the country for the next century and we are the only voting generation who will see most of that century.
The focus of this election, the slow economy, is hurting our generation more than others. September’s youth unemployment and national underemployment rates were 16.6 percent and 16.5 percent respectively. At least one third of young workers are losing income—as lost wages now and as depressed wages due to lost experience in the future. In a less tangible way, the lagging economy robs employed youth of opportunity for advancement through hiring rates that have made upper level positions scarce and more competitive. The country’s economic future remains uncertain and each month of high unemployment and low growth is another blow to our future. We are already paying for decisions that were made for us and we will pay for more decisions made for us if we do not use our voice now.
Politicians believe they can simply buy the youth vote by promising cheap education loans. While loans do help save some interest on the $26,600 of average undergraduate student loan debt incurred, the debt that past generations have passed down will cause much more burden.
As it stands now with over $16 trillion in national debt, every man, woman and child has over $51,000 in debt burden and every household has $140,000 in national debt burden. Put another way: Two years and nine months of the median household income will go directly into government coffers. If you account for the fact that only the top half of earners pay federal income taxes, the amount owed per college graduate skyrockets.
We get to enjoy the consequences of Washington’s unfunded spending spree. Either years of wages will be stolen from us for benefits we did not receive or our country will join many European countries as a second-tier nation with an economy in long-term peril. A real redistribution of wealth has already happened: The money came from our future earnings and went to our elder’s immediate benefits.
The breadth of this generational redistribution grows when the focus turns to Medicare and Social Security. Every paycheck we earn takes out 5.65 percent to pay for these programs. However, Medicare is projected to become insolvent as early as 2023, a few decades before our generation becomes eligible. We can appreciate that politicians promise unchanged benefits to our grandparent’s generation but they completely ignore us on the issue. Our generation will end up paying for our parents and ourselves when the benefits break down. The consequences of failing to act now will be our burden. Social Security will—at best—be greatly diminished by the time we can collect on our investment due to poor planning and the financial burden left to us by the baby boomers. The guarantee of retirement benefits is gone. Those in our generation who do not save will have nothing and those who do save will pay for everyone else. We must fix that. It is up to us, the generation that will be most impacted, to fight for change and stop allowing politicians to pass us the bill.
Our generation stands to lose considerable wealth through paying off the debt and lost benefits and wages. Our poor will be poorer, our middle class will be diminished and our opportunities to get rich will fade away. Failing to address these issues now will limit what we can change in the future. Unsolved economic problems will dominate the political landscape and social issues close to many of our hearts, like immigration and gay rights, will lose political priority. Problems at home will hurt America’s standing on an international level as many countries are poised to pass us in economic importance during our lifetime. Each vote determines the future and our share of that future is larger than the older electorate.
Every generation talks about making change for the next one. Our predecessors have done a lot for us; however, they have mishandled just as much. All of these issues will not be solved by a single majority or bipartisanship as these past four years have shown. Educating yourself and voting can go a long way toward making things right for our generation, yet voting alone will get very little done due to the enormity of the issues. A vote offers a yes or no response to a hundred questions that cannot be answered so simply. You must fight to be heard in other ways. Many of us have spent years and thousands of dollars on education to make the rest of our lives better and it’s time to put some of that effort into making our country a better place to live. The decisions we face and the actions we take will have a large and lasting effect on our lives and we cannot take the consequences lightly. This election matters for us and we have to show politicians that we should matter to them.
Steven is the winner of The Daily Cardinal 1000 words for $1000 contest. Congratulations Steven!
