Continued from page 1

Student Loan Debt

Prognosticators used to warn the public about a credit card bubble. But now, student loan debt has surpassed credit card debt at more than $1 trillion. Student loans, similar to the housing market, relied on a government-sponsored enterprise: Sallie Mae. Lax lending standards, and easy, government-backed credit has fueled an explosion in tuition prices.

Today tuition costs continue to increase at twice the rate of inflation. Recently, a growing number of indebted graduates have been demanding that the government forgive all student loans. Meanwhile, college debt continues to skyrocket under the Obama administration’s newly nationalized student lending system.

Nothing is more earth-shattering to a young person than being stuck with no job and tens of thousands in college debt. As the Youth Misery Index rises, look for Mr. Obama’s youth approval numbers to continue to plummet.

All three indicators of the Youth Misery Index have gone up, at least in part, thanks to government intervention and out-of-control spending. As recent college graduates ourselves, we believe our generation would be best served by using our activist tendencies to be the catalyst for government reform. No one expects young people to fight for fiscal responsibility and sustainable government, but it’s time to shock the establishment before it’s too late to reverse our country’s dour trajectory.

Ron Meyer is a program officer for Young America's Foundation. Nathan Harden is a Novak Fellow with the Phillips Foundation.