President Obama, in a speech to the National Urban League in New Orleans, urged students to put down the video game controller, stop slacking off, and get to work.
Naturally, I would agree with the President—if he didn’t put young people in this position in the first place.
“Of course, that means all of you all have got to hit the books, I’m just saying,” he said. “That’s part of the bargain—America says we will give you opportunity, but you’ve got to earn your success.”
I would like to hear the president tell that to the recent 2012 graduates that worked hard for years to earn their degree and are now stuck in their parents basement.
The fact of the matter is that young people cannot find jobs. Youth unemployment is the highest since World War II, topping off at 17 percent for the month of June. This more than doubles the national unemployment rate of 8.2 percent.
The statistics get worse as time passes. Over 50 percent of recent graduates are unemployed or underemployed. 1 in 3 young adults—4.7 million people—are unemployed and living with their parents.
This isn’t laziness. This is a youth depression.
The president can only use his rhetorical spin on reality to bring light to these abysmal times for young Americans.
Take the Affortable Care Act, for example. Under this provision, young Americans will be able to stay on their parents’ health care plan until age 26. “I believe it was right to make sure that over 3 million young people can stay on their parent’s health insurance plan,” he said.
But what does this really mean for those 3 million young adults? Joblessness. Those who will stay on their parents plan until age 26 are on that plan because they cannot find a job or they cannot afford their own healthcare.
But according to the president’s speech to the National Urban League, getting off the couch and spending hundreds of thousands of dollars to hit the books at a university will solve the unemployment problem.
It would be comical if the circumstances weren’t so dire.
The only way young people will be successful is if businesses start hiring. This will only happen through some form of legislative change.
It currently costs businesses $46 billion annually in regulation costs—more than $10,000 per employee annually for small businesses that employ more than 25 percent of the total population.
Businesses are also facing the expiration of the Bush tax cuts in 2013.
According to the National Federation of Independent Business (NFIB), 75 percent of small businesses pay taxes on their businesses income at the individual rate. The Joint Committee on Taxation (JCT) estimates that the tax-hike would hit around 940,000 small businesses. The JCT also shows that President Obama’s plan for massive tax hikes would mean higher taxes on 53 percent of business income reported on individual returns.
Needless to say, hiring will be the last thing on their minds.
The president is notorious for pointing his finger at others for the problems that he has created. Luckily, the facts are on the side of truth. The illusion that young people are choosing laziness over opportunity is proven null and void in the light of factual reality. Quite frankly, it just makes the president look moronic.