Photo Credit: Personal Liberty President Barack Obama was able to sail into the Oval Office twice thanks largely to his campaign efforts to woe young, idealistic voters into believing that “hope,” “change” and, of course, massive student loan forgiveness and basically free insurance were on the horizon. Now, young people are paying for having been fooled twice as Young America’s Foundation reports that its Youth Misery Index numbers for 2014 reached a record high.
The YMI is calculated by compiling information on youth unemployment, average graduating student debt (in thousands), and national debt per capita (in thousands). For 2014, the foundation reports that the YMI hit 106.5, up from 98.6 in 2013.
The increase is attributed to youth unemployment hovering around 18.1 percent last year as nearly 6 million young Americans between 16 and 24 were unable to find jobs. Making the problem worse, college graduates shouldered an average student loan debt burden of $30,000 for 2014, according to the index.
National debt per capita, meanwhile, was the highest ever for 2014 at $58,400. (Read more on how Obama is killing young America’s future HERE)