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What has happened to millennials over the past decade, and who is responsible?
Millennials complain that the job market has never fully worked for them, that they are crushed by student debt, and that paying for their parents’ old-age entitlement benefits will bankrupt them. But are these complaints justified? Joseph Sternberg of The Wall Street Journal joins AEI’s Ramesh Ponnuru and The Century Foundation’s Conor Williams to discuss if the policy choices of baby boomers have created a real problem for millennials entering the job market today.
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Sorry, but 17 minutes in I was bored to tears.
Baby boomers nation-wide elected Ronald Reagan. You’re welcome. Baby boomers nation wide Did Not elect Barney Frank. He was elected by a small group of idiot baby boomers in whatever God-forsaken state he was from.
Baby boomers nation wide did not elect the regulators who imposed onerous regulations on banks which had the effect of driving a lot of small banks either out of business or into mergers with large banks, which in turn made it difficult for small businesses to get financing for their enterprises, which in turn hurt job creation – since in a healthy economy, 70% to 80% of new jobs are created by small businesses.
In recent years, the cost of tuition has increased by three times the rate of inflation – due to a fraud committed by the government and universities. The government announces that more money will be made available for college tuition and the colleges/universities respond by increasing their tuition.
The fair way to solve that specific problem would be for colleges and universities to be required to refund two-thirds of their unjust enrichment to the students they’ve cheated. Although I don’t understand how people bright enough to aspire to a college education could be dumb enough to sign on to tuition loans that they must have known would require the rest of their lives to pay off.
But — it’s not a generational issue.