According to a new poll issued by Generation Opportunity and The Polling Company, Inc./WomanTrend, America’s young adults are looking at a bleak future as the unemployment rate remains at 9.1 percent. The poll indicates that almost three-quarters of young Americans ages 18 to 29 will postpone important life events associated with the American Dream, such as purchasing a home, preparing for retirement, furthering education, marrying, and having children. These young adults have ideas about how to get out of this situation, however. The poll shows 76 percent advocating less federal spending, and more than half concur that economic growth occurs with less government regulation and taxation of profits.
There is plenty of support for young Americans’ views in the poll. Instead of spending and regulating, the government should retreat from American businesses to allow them to prosper and create more jobs. Job creators need solutions such as certainty of economic stability, reduced government spending, and the repeal of Obamacare for the U.S. to see employment growth.
The U.S. debt also weighs down the vision of prosperity for this generation. Heritage’s Bill Beach has explained how the debt translates into a delay of marriage and decrease in income. Beach says the current generation is in danger of becoming the “generation that improved the least” from the time of employment to retirement.
Despite these reports, this generation has the power to improve its potential. Beach suggests personal savings, monthly budgets, and financial plans to combat debt problems. In addition, young Americans not only can speak out to national leaders but also can spread their ideas for economic growth through family and friends. They can save and keep a budget and demand that the government do the same. Instead of being labeled as an unimproved generation, young Americans can become known as the generation that fought to improve their situation—to live, and not merely dream, the American Dream.
Katie Yoder is a member of the summer Young Leaders Program at The Heritage Foundation. Click here for more information on interning at Heritage.