In your experience, are young adults losing their sense of optimism?
Posted at 5:00 AM on March 24, 2010
by Eric Ringham
(62 Comments)
Filed under: Economy, Politics/Government
A Harvard poll finds young people feeling glum about their economic outlook and losing interest in political involvement. Today's Question: In your experience, are young adults losing their sense of optimism?
Comments (62)
No but they should, they are in deep do-do. They are they second generation give or take a generation, that will be less healthy, less wealthy, and less happy than their parents or grandparents. Sad really.
Greg B.
My Libertarian days were fun--but they're gone. Crude reality kept getting in the way. One of the less than noble admissions I've made to myself these last years is I'm not willing to starve to death in order to fulfill my libertarian ideals. If I can (well, I like to think of it as, "If I have to") vote myself into survival I will. What can I say, I'm a douche.
If you believe I want the market to go away the answer is no. But I've come to the conclusion that the market system has flaws. This puts the market system in the company of every other human creation. The Muslims are right: only Allah acheives perfection.
Do I want the greatest good for the greatest number? Sure; why not? There's not much point in having ideas if no one is around to ponder them. George Bernard Shaw is supposed to have found people interesting because they have ideals. Henrik Ibsen is supposed to have found ideas interesting because they came from people. It's a Scandinavian thing baby, you wouldn't understand.
Would I love to peacefully pursue my self-interest without the interference of government? Yeah. Would I love a heart transplant to cost as much as I can actually afford to pay for it (about 3,000 bucks)? Yeah, I'd really like that to. Am I willing to die because I can't actually afford the heart transplant? Well now we're back to that 'I'm a douche' thing.
I will way one thing in my defense though. I have never been comfortable with the question of who owns your life. If someone other than me owns my life, society for example, I guess I should find out where society lives: they might need their lawn mown or toilet cleaned. If I own my life, neither suicide or dueling should be illegal.
I also reject the premise that per capita GDP is a good measure of national well-being
Cato's mission is to find arguments in favor of a free-market ideology, not seeking truth.
I don't know. I suppose you are asking because you assume that spending 1/6 of our GDP on healthcare is a problem. I am not sure it is a problem. But since you asked I'll engage in some informed speculation.
1) The US is more prosperous than Canada. Per capita GDP in the US is $46K and in Canada it is $39K. So right off the bat, since we are a wealthier population, we will have more income available to spend on healthcare. I suspect Haitians spend even less of their GDP on healthcare as a percentage than Canadians.
2) It is well known that here in the US we spend a lot of money on "death battle" care fighting cancers and fixing heart disease. (Something like 85% of our healthcare expenditures go for things like that. Don't quote me on that one.) That kind of care is expensive. So be it.
3) Canada uses governement force to pay less for pharma drugs. They take a "this is what we're going to pay whether you like it or not" stance with the drug companies. That shifts some of the true costs of developing some expensive drugs to the US market where you and I get to pay more for the same thing. (Canada is not the only country that does this.)
4) My Canadian neighbor told me that, "If the Canadian government decides to do 20,000 heart surgeries a year and you happen to be number 20,001, you simply die." (Yes, that is direct quote.)
So the combined effects of governement rationing, a less prosperous population and a government that can't print money as easily as the US can (at least so far) will no doubt limit overall healthcare expenditures in Canada as compared to the US.
With all that said, if you want to put some downward pressure on healthcare costs, you need less government intervention in the market, not more.
I suggest you read "The Top Ten Myths of American Health Care: A Citizen’s Guide"
By Sally C. Pipes.
Also checkout Cato's e-book Healthy Competition
Remember, iIf something can't continue this way forever, it won't.
Greg, how come in Canada (et al.) health care is not 1/6 of the economy? Maybe our problem is too much private sector involvement in a segment of the economy that really should be socialized?
So, back to the question.... I'm optimistic about our pessimistic young people, partly because they see through the ideological fear-mongering that passes for polical discourse these days and want to do better. They realize that the "slippery slope" is a misleading metaphor for thinking about the dangers we face-- that it's more like two equally unacceptable ditches to be avoided. They're not superstitiously afraid of either Big Government or Big Business, in contrast to our so-called leaders in Congress, who benefit when the electorate is polarized. I'm eager for the day when they take over the reins.
Maybe taking over the healthcare system does not make you a socialist. But, justifying the takeover of 1/6 of a nations economy because you don't like the outcomes provided by the private sector and believe the government can provide better ourcomes, does.
I am dissappointed by the passage of this healthcare bill. But, I understand that we already have socialized medicine to a large degree. The fact is 50 cents of every dollar spent on healthcare now flows through government programs. That seems fairly socialistic to me.
The only other segment of our economy where more government money flows is higher education (where I am guessing now) maybe 80% of the money flows from, through, or to a governement entity.
Let's see now. The only two parts of our economy where costs have spiraled out of control for decades are: 1. Higher ed; 2) Healthcare.
The two parts of our economy where the government exerts the most financial influence: 1. Higher ed; 2) Healthcare.
Hmmmm?
Yes. Free markets do many things really well and should not be impeded. It leads to disaster when most or all of the economy is run by the government, as the examples of the Soviet Union and Maoist China clearly show. On the other hand, people's needs are not necessarily correlated with their ability to pay. Some things work best if we make them a collective endeavor-- things where the profit motive is not sufficient to motivate the free market to do them. Big pharma has given us good drugs to lower cholesterol and treat erectile dysfunction, but progress is slow on dealing with malaria. Believing that health care is one of those areas where free markets alone do not produce the best results does not make one a socialist.
Steve, I agree with you NIxon behaved like a socialist with his wage and price controls, etc. Not many presidents on the right or the left have behaved like classical liberals lately. Reagan might have come the closest to being a libertarian, but he had his limitations too. (Remember the fuss he made about the 10,000 page budget bill. But, in the end he still signed it. Sigh.)
Steve the Cynic, I think this is a starting point at which we can all agree: we will grant our government the power and authority to use force to uphold the basic laws required to asure property rights, security, etc. and to protect people from other people who might violate laws and cause harm. (Not very well worded, but you get the point.)
Beyond that starting point, I would prefer a more classical liberal interpretation of the constitution and less governement rather than more.
Socialism is not about granting power to government so it can enforce laws we all agree are necessary. Socialism is about using force of government to get people to do things they might not otherwise agree with and to "spread the wealth" in an attempt to "fix" allegded social ills.
Khatti, you seem to assume that we should decide the role of governemnt in our lives based on what produces the best outcome for the most people. Socialists and communists always claimed to be pragmatists -- i.e. let's use government in a way that benefits the most people by doing this or that. This pragmatic view is enticing, but it often goes against basic tenets of liberty and, in the long run is dangerous.
We should try to organize governemnt in the way that assures the most liberty. Start with a few basic principles on which we all agree, define limits on the role for how government can use the power we grant it, and that's it.
There are no guarantees that any one individual will be happy or prosper in a free society -- but, that is not the goal of a free society. The goal is more like everyone should have the freedom to pursue prosperity and happiness. (I think a bunch dead white guys wrote some stuff like that long ago.)
Not sure we can even get agreement on the basics anymore, but you can't just throw everything up for a popular vote. That is simply the tyranny of the majority.
Due undoubtedly to some latent sense of masochism, I'm going to weigh in on the socialist issue one more time.
I don't think there is any such thing as a purely capitalist or purely socialist social system out there. All first world nations are some blending of the two systems. In my younger, crazier days, when I was less capable of acknowledging ambiguity, this bothered me no end. However, I've come to the conclusion that political/economic systems are like dogs: mongrels tend to be healthier than purebreds.
So the question is not whether or not we are a socialist nation, at some point we are, the questions are:
A. How much of a socialist nation are we?
B. How much(and where) does it benefit us?
C. How much (and where) does it harm us?
None of these questions is going to have an absolute answer.
Frankly I think we overly romanticise our economic system. I don't claim to be immune to this: I have my scheme for getting rich just like everyone else in America. It takes very little effort to envision me on the cover of Forbes. The fact that I haven't pulled it off in the last fifty years is beside the point somehow.
Nevertheless, I'm tired of hearing people pontificate about our economic system. We talk about entrpreneurs like they change in phone booths and fly from place to place under their own power. We talk about the market as if it were a religious relic that cures the blind and lame. That hasn't been my experience of either. Am I alone in this?
You want the market and entrepreneurs to save you? I have a question for you? What product out there is so compelling that you just have to have it? Never mind that you're unemployed. Never mind that you're worried you're going to become unemployed. Never mind that every penny you make is already spoken for. Never mind that your bank wouldn't loan you enough money to buy an hour on a parking meter. None of that matters. What is the widget you just have to have--and damn the consequences?
If you can't think of one right now you've stumbled across the little flaw in hoping that capitalism will save you.
I think government should run all of our law enforcement organizations and that it would be a huge mistake to privatize any of them. I guess that means I believe in socialized law enforcement. Does that make me a socialist?
Its a sign of how hard-right our politics have gone if people actually think Obama is a socialist. Nixon, if you remember, thought national health insurance was a good idea, and he was certainly no socialist. When Reagan was elected, I proudly called myself a conservative. My views have largely not changed since then, but now I find I'm a "liberal," because I think a modicum of regulation of big business and a minimal social safety net for the poor are good things. Besides, people who actually call themselves socialists (not me) are greatly disappointed and think Obama is too similar to his immediate predecessor. So, if your calling our president a socialist is not an inflamatory lie, then you must be looking at the world in some kind of fun-house mirror. Look up "socialism" in whatever dictionary you have. Obama's policies don't fit the definition.
Steven, Obama is a socialist. Just look at what he says, does and the people he keeps close to him.
Car company takeovers. Threatening CEOs until they quit. He is perfectly OK with the fact that his healthcare plan will put insurance companies out of business in 5 to 10 years. Wants universal / single payer government run health care if he could have it right now.
Look at what the people he hangs with have written and said before they got to Washingtom. Most have a strong, unabashed, socialist views. Don't forget., fewer than 10% of them have ever worked in the private sector. (That number is typically about 40% for Dems and 60% for GOP.)
Remember his, "... well that's a socialist mop" comment? He is not afraid to be called a socialist. Why are you afraid to call him a socialist?
We have been pretty much a socialist democracy since FDR packed the Supreme Court to get the New Deal rammed throught.
It is sad, but you can't argue with the facts.
Regarding some of the earlier comments: Under no reasonable definition of the word is President Obama a socialist, and to say otherwise is a flat-out lie intended to inflame passions and shut down rational discussion of the real issues.
Comments texted to MPR:
Pessimistic? More like apathetic. I've had a feeling for years that I will be working harder for a lower relative wage than my parents. The cost of living keeps increasing faster than the average young person's salary. -Tony, 25, St. Paul
At age 28, I'm not sure I'm young, but I am not optimistic about the direction we're headed. However, I've become more interested and aware of politics as a result. -David, Shoreview
I'm going into college in the fall. I have definitely changed. I'm worrying about college money and food, but I really have the same faith that everything will work out... - anonymous
Are we losing our sense of optimism? YES!! Of course we are, how can we not, most of us graduated with over $40,000 in student loan debt (not the $25,00 loan debt, a fake number touted by students who had some help in college).
I graduated in May 2008 and didn’t get a job until June 2009. I pay $350-$400 in student loans a month, I have no savings and barley any retirement, granted I am only 24 but right now, at this rate, I couldn’t afford a house or children for the next 10 years. I am married but even with dual incomes, it is still VERY hard to make ends meet and my husband and I have considered moving in with our parents simply to save money to buy a house or have children all because I was told I have to get an education. For what? A job that pays only $36,000 a year. I want my money back, my degree was not worth $40,000.
On TOP OF IT, It extremely FRUSTRATING trying to communicate with older generations, (i.e. our parents) because they JUST DON’T GET IT! I make $35,000 a year and when I told my parents I asked for $40,000 for my first job after I graduated college, they laughed at me and told me I was crazy. They DON’T GET that is realistic because of the debt we carry. THEY DON’T GET IT and they never will because they are not in our shoes!! Randi is absolutely right, they think we EXPECT prosperity but we what we really expect to be able to pay down student loan debt and grow our families, just like they did. But what they FORGET is that they didn’t start their lives with such huge debt. They got a job then acquired debt, my generation graduated from college with a MORGATE but we don’t own a house, we don’t own anything.
Politically, I am semi optimistic that some change will happen although all politicians care about is saving their jobs and making money, but the difference is that our generation can see through the political rhetoric where older generations just eat it up. It is really frustrating trying to communicate with ignorant older generations, who can’t diffuse rhetoric from facts.
Another political issue is the way in which we MISUSE capitalism in this country. I completely agree with what Kailah (9:10am) said “I sincerely wish I had been born and raised across the pond in Europe. At least I'd be free of debt, and most of all, free of having to see the DISTORTED version of capitalism that exists here. We live in a superficial and shallow place. Apparently only heirs and heiresses can achieve the American Dream” Never mind not politically optimistic either….
Thanks George D 4:52 PM, for getting it ☺
At 22, and getting close to graduating college, I am optimistic about my future. But there were these nagging issues that were raining on my parade. I was facing a dismal job market (still am). I was facing the possiblity of not being able to get any job in my feild. I was facing not being employed by an employer that could offer me health benefits.
Sunday was like a weight being lifted off of my shoulders. Now if I get sick, I don't need to worry about whether or not I can afford it. If everyone can have a better quality of life, I will pay whatever tax.
What I find disheartening is watching congress turn into a bunch immature children. Republicans making threats to not cooperate isn't a far cry from the "I won't invite you to my birthday party" days. And these are the people making decisions that will affect my future? No wonder my generation doesn't have very much faith in them.
What happened to making the world a better place for our children?
I am optimistic, and I see great progress being made. It seems like the older generations need to start looking at the problems the way we, the millenials, are seeing them.
This thread is certainly interesting reading. I'm not sure how much I agree with those who complain that us baby boomers were "selfish." We lobbied when we were 20-somethings for civil rights, subsidized housing for minorities, women's rights, ADC, food stamps, an EPA to insure clean air & water, etc. None of those things existed when I was 20. We thought we were being socially responsible. Then LBJ gave us what we wanted - the Great Society, which helped dig us into the hole we're in today - in massive debt and burdened with a system of welfare and government entitlements that only accelerate us toward a cliff. Not that a lot of Wall Street fat cats and billionaire CEO's didn't help push closer to that edge.
I did one semester of junior college in 1966, then enlisted in the Air Force for four years of active duty. I survived just fine. I came home and found a nice job as a clerk with a major corporation - okay pay that kept going up as I advanced, full benefits, and what seemed like a lifetime guarantee of employment. Credit card interest was 5% or 6% and was tax deductible. We had it made. Within 15 years I held a management position that paid well. But 25 years after starting, when I was six months shy of lifetime medical & dental benefits and full pension, 600 of us were let go in just another round of cuts that typified the 90's. I took my pension accumulation as an IRA distribution in cash, paid a lot of tax and the 10% penalty, and started my own company. Since then, nine months out of the year I've worked hundred hour weeks. I've got no health insurance and age is starting to catch up to me. I'm 63 and just started Social Security, which now makes up 75% of what I need to survive. The rest will come from the few bucks under the mattress that I made working those long hours these past 15 years since my layoff (you didn't think I would INVEST that loot, did you!?!?! In what? Enron? WorldCom? Lincoln Savings? The thieves handwriting was already on the wall two decades ago.)
But those who think we had it made were right... From my birth two years after the war, until I was pushing 50, we never knew want, we never knew financial tragedy like my parents Great Depression, or a war that affected every single family, as did WWII. Now, it's gotten hard, unlike anything I've seen. I'd be pessimistic, too, if I was 25, sitting on a student loan debt bomb with huge interest, and trying to find a decent job in this economy, and in an America where there don't seem to be any of the comfortable "guarantees" that we had for so long. But I fear that your desire for the government to step in with guaranteed health care, writing off your loans, lowering your taxes, and otherwise somehow rescuing everyone, will only come back to haunt you.
Old people always look curmudgeonly and obstructionist to the young. My parents and theirs looked that same way to us when Bob Dylan and Joan Baez were singing my generation on to greater glory. But I discovered that old coots look that way because of what we learned in the interim - about human nature, about how "systems" (government & otherwise) actually work, about The Law of Unintended Consequences. Even during 50 years of pretty good times, naivete dies a natural death. Economics may be a "dismal science," but it IS science. When the interest on the national debt reaches critical mass, your chickens will come home to roost... accompanied by three giant condors.
I am right on the cusp between generations. When I graduated from college, it was right in the middle of a recession. I had to take a very low paying job, no benefits. No health care for a YEAR, no retirement plan (and I was taking care of doctors' kids). I've seen my friends struggle too. We are not lazy--we would have loved a real job back then and now are starting lives years behind where we thought we would.
The comments from those of my parents' generation prove my point-- We're not the selfish generation-- you are!!! Sitting at your tea party rallies, cutting education, taking food out of the mouths of the poor, wrecking the environment. YOU HAVE health care. YOU WILL have pensions (and I don't care if they're being cut--you'll get one!) We're not young invincibles. We just can't get coverage. We aren't saving-- it's hard to make ends meet!
We are politically active. We are informed. WE ARE ENGAGED. It's just that we are yet too young to have much of a voice. Many of us aren't old enough to run for offices that matter. Ah, but as boomers retire or just go away..watch out. I'm optimistic for the future...just pessimistic right now.
As a 25 year old, I am in agreement with Chris (1:15 pm) We are the most educated generation, and the vast majority can see through a lot of this political BS.
Where there is a will, there is a way. Our generation has been told that they can have everything, and we believe it. All this fear-mongering is doing is trying to keep us from what our generation wants. Yes, it might not work out perfectly the first time...or the second time...or the third...but in the end, we will find a way for it to work. Every generation has. To tell us that we can't have this only stifles the optimism of our generation...
To Gary F and James DTOM...our generation is a social one...just look at the success among my generation of things like facebook and twitter. For the most part we want to see the success of our friends and neighbors...we want to be able to compromise with others to reach a common ground. For once a previous generation should learn from the next. Learn to listen and figure out what you can do to help out, not just complain and whine about how things are wrong.
And to people in general...saying "No" to things doesn't accomplish anything...anyone who sits still in time accomplishes nothing. So get off your rear end and help your community somehow, don't just and whine more about someone wanting to get up and do something for a change. This country will never be perfect...the second phrase in the Constituation tells us that: "in Order to form a more perfect Union"...So get out and do something that strives for a better state than is already there.
I'm young (25) and liberal, and I'm very disheartened. Obama really fired us all up, but it turns out he's just a smooth-talking deal-making centrist... aka a politician. Guess ya gotta get your heart broken sometime.
I am becoming fairly pessimistic, even after graduating with an M.S. in engineering one year ago, I've been getting by on short term contract jobs, paying my own health insurance and taxes. I don't know how much longer I want to live like this, but it's allowed me to develop my frugal living skills, and hopefully I can carry those skills with me in the future. I learned that I don't need much in terms of material things to get by.
I am glad to see the older generations are so mature. Lets not forget that this young generation is fighting your unpaid wars. This generation is waiting to work because the old generations are still working.. mainly to pay off their oversize homes and expensive cars. We just want a fair shake and maybe start a family, hahaha..ya right. Do you think we care about the cost of the Health Care bill? It will save money in the long run, that will benefit us. It will cover the uninsured, that's 40% of the young generation.
Older generations like to complain a lot and not pay for all that they have. We will pay for all your mistakes but don't criticize how we do it. Step back and shut your mouths! BTW, nice fear tack-ticks.. remember that this is the most educated generation and we don't buy your made up BS.
The increasing stagnation, higher structural unemployment and national debt make will make it difficult for future generations to as prosperous as previous generations.
My kids are fairly optimistic, but I lie to them about the consequences of socialism. I feel that protecting their optimism and innocence for as long as possible gives them the best chance of hitting the ground running one day.
If they believe they can succeed on their own, they might be able to escape the grasp of the socialist onslaught. I have faith in the power of positive thinking.
If that fails, no worries. They too can sit back and say hey, "I've got my healthcare insurance paid in full by Uncle Sam, and my college education is being paid by a combo platter of Pell grants and governemnt backed loans, so why worry?"
That is, until that day when China says, "not today" at one of those weekly debt auctions.
From each according to their ability, to each according to their need!
I'm 25 and AM optimistic. Hard times pass like the good ones do, and the poor economy will ultimately come to pass. The only think constant is change. One day people will look back and think, gosh it was hard, but we made it through and are tougher because of it. It makes us appreciate the things we have, and change the things that stand in the way of progress.
As a young person myself, what do I have to be optimistic about today? More government regulation in every aspect of my life? The continual devaluation of our money and destruction of my personal savings due to printing massive amounts of fiat money. Untold amounts of corruption in Washington, in both parties. What sort of motivation is this supposed to give me?
Yes-- because they seem less personally responsible. As if their destiny is in someone else's hands.
Gary F and James DTOM, in what language is what we have in America called "socialism"? It's not English.
Guys, I keep in touch with relatives from one of these Scandinavian, police states. Socialism works as well as any other system that its citizens believe in--and my Swedish relatives believe in Socialism. They pay high taxes because they think they are getting something for their money, not because they're worried the neighbors are informing on them.
This belief that we have the very best system in the world, that we can learn nothing from anyone else, is acceptable only if you're under the age of twelve. It is not a good precept to base political decisions on.
To the young comrades of USA,,, welcome to Socialism.
Optimism, creativity, democracy, and personal responsibility may be checked in at the door.
As long as your labors benefit the government you will be allowed to exist.
DTOM
Randi is absolutely right. The older generations have this misconception that every person in their early 20's expects an immediate "winning scenario" of the American Dream.
That is not true. We were told by our parents and by society that we needed to get an education. A much larger percentage of us did that than ever before. As a result, our country has a massive education inflation and a massive student loan debt. That is what we weren't prepared for. We weren't prepared to fight with laid off people who have experience for jobs that apparently all require experience.
Politically however, I am optimistic. I see our generation, the most well education generation in history, just a decade or two from being able to take power ourselves. You want to see change, expect it near 2032.
A big reason I feel frustrated about not having a voice in the political realm. Many of the values the other posts here mention such as social justice, equality and efficiency don't have any political power because you have the older generations who have the power and don't agree.
I see it as a bit of a waiting game for the older generation to move along and more of my peers to gain voices. It's hard to be heard when all of the money and hate is stacked against you.
Regardless of how pessimistic young adults today might be, I'm optimistic for them. They see the world as it is and want it to be better. They are more concerned about making a difference than making piles of money and buying lots of stuff. They are more concerned about the common good, and less about "what's in it for me," than my generation.
Gary F. is right about one thing: greed has gotten us into the mess we're in. But he's wrong about the problem being creeping socialism. In fact, we've been moving consistently to the right for about 30 years now. The greed that got us into this mess is the kind that says, "Don't tax me! Don't regulate me! Don't use my money to help anyone else!" Socialism certainly doesn't work, but under-regulated free markets tend to run amok, and if there's no social safety net, ordinary people get crushed.
I'm optimistic for today's young adults, because they see the mistakes of previous generations and are willing to learn from them, so as to do better. They aren't so arrogant as to believe that they "know better than history."
The problem with older generations is they think we EXPECT prosperity. We don't expect prosperity.
We EXPECT to be able to pay our bills/loans. Especially, after the government, high schools, higher education institutions, society in general TELL US, that we HAVE to go to University to get a job. Darn right, I expect earn a decent salary after I paid $40,000 for education. My parents didn't pay for my University. My Dad, said he wanted us "appreciate our education." Well that left me with $40,000 of debt and no job.
Older generations forget that they didn't START their life with debt. They got a job and THEN decided to buy a house or buy a car, etc... We graduate and start with debt, BEFORE we even get a job. We start in the hole and have to spend our lives trying to dig out, just to break even.
I'm a student at a technical college outstate. I'm also in my fifties, and am here because I was laid off from a job permanantly two years ago. Going back to school was one of the options available to me.
I wouldn't be remaking Animal House on my campus. These kids look grim and scared. They remind me of those tight-lipped, East German athletes you saw at the Olympics in the Seventies. And they should have that attitude. They come from a time where a 3.5 grade average is the new 2.0 grade average, and they have to calculate how everything they do will look on a resume. There is this feeling that their whole lives are on the line, and it's so, so easy to screw up.
A few students have treated me like a traveler from some golden age--one that will never come again. I think they believe that Steven Tyler and I shared the same groupies. There is this feeling that all that was good in life has been used up by their parents; that there is no more to be had. And people wonder why these kids drink?
If I have any advice for these kids it is to become a lot more political. Frankly these kids need to vote themselves more money in the form of college payments. They also need to be told that becoming political does not necessarily mean you have to allow Chicago policemen beat you into a coma. They need to learn that voting is important but not complicated. No one is going to ask them to defuse a bomb in the voting booth.
Somone also needs to tell them that no one can really foretell the future. That people who claim to foretell the future all have agendas.
Finally--and this might be a personal prejudice--someone needs to figure out a way to teach them history that sticks with them. Economics is an area where history quite literally repeats itself. They need to be made aware of the past because it will give them some insight into the future.
That's right, you kids are from the generation where everyone got a trophy, nobody won or lost, and self esteen was given and not earned.
Good luck to ya.
For all you kids of the "Hope and Change" Generation, don't expect any prosperity.
Our current socialist/statist government has smothered any real chances of any private sector recovery.
More government is not the answer folks. For the person who said they wished they were in Europe, well, look at Greece, they are further down the line than we are and there are many to follow.
How about some personal decision making? We have raised our kids to be entitled. Why not go to college anywhere, no matter what the costs? Why not use that debit card? As parents (I have two 22 year olds), we have had to constantly fight the culture that tells our kids they can have it all.
I have been appalled at MPR coverage of those "poor kids" who have to go to community college because they can't afford tuition at expensive schools. So what? That's what my kids did because we were not willing to go into debt.
I was raised by Depression era parents and graduated college in 76 during a recession. All of my peers struggled, lived together to save money, did without cars, etc. All this angst about young people doing this now? It is nothing new.
I have never believed in the perfection of the American Dream. But I always fought for the politics and policies that I believed in. I did not check out..
This environment forces creativity. Let's use it.
And quit whining, for God's sake.
Like most of the other commentators around my age, I am extremely pessimistic. I'm 25 years old, three years out of college and was lucky enough to land a good job with heathcare and an oustanding amount of PTO.
However, I'm in a huge amount of debt - my student loans totaled nearly $60k when I graduated three years ago, and since most of my payments have gone strictly towards interest in the last few years, that balance hasn't changed much. I am fairly frugal to begin with, and yet I hardly have enough money leftover each month to create even a modest emergency fund, much less save for a downpayment for a house.
I've lost most of what little faith I had in our political leadership in the past year. While I'm pleased we were able to pass the health care reform law, it's been so watered down by both parties, I'll be surprised if anything changes.
I wouldn't say we are losing optimism; so much as we are dealing with our reality. We graduate with this "education" and we believe what we were told initially: If you have an education, you will get a job. Only after 500 job applications and little interview requests to we realize that our "education" was really just something we paid for, not an actual learning experience that will prepare us for getting a job/career.
Even as children, teachers, schools, higher education institutions and the government drill into us that we must get an education. We must get that (minimally) bachelor’s degree to get a good job, to be successful and to be respected. We are constantly reminded that if we do not go to college and get an education, we will fail, much less get a job.
But who makes these requirements? Who sets these standards? The higher education institutions and government have convinced the general public that we have to get this education. They have created a social standard for "necessary education." This standard is so engrained, it doesn't even occur to most of us to ask these questions. Who loans us the money to pay the bill? The higher education institutions and the government. To whom do we owe money to after "the best four years of our lives?" The usual suspects.
Still, I started a job that required on-the-job training for six months and up to a year. Wait, why did I go to college again? Most college grads will most likely start in a job with low pay and little benefits. But besides paying all of life's necessary bills, they will be straddling college loan debt. This is what our education gives us? I don’t know about you, but want my money back.
My advice to all you high school grads nervous about which college you're getting into, worry less. Maybe college isn't such a good idea.
I'm 26, 5 years out of college, and in the difficult position of trying to work as a writer. But I think young artists are in a unique position in our current economic climate because there has NEVER been much money in the arts. Since long before the economy went bad, artists have been working in multiple disciplines, thinking innovatively about how to make a living, and we are as optimistic as ever because our discipline demands it. We WISH the political leadership would institute some federal art programs (like FDR's Work Projects Administration), but artists in my generation have long since given up on major changes from the federal level, because our leadership is so stuck in the two-party system.
- Maggie, St. Paul
I think the word "optimism" in the Midmorning discussion should really be replaced with "unrealistic expectations."
I'm 28 and and I graduated with an bachelor's in mechanical engineering last spring. I don't know if I lost optimism as I saw the starting salary for my field drop $10,000 during my final year of school. Or if I lost optimism after I realized that no one would hire an engineer with little or no professional experience when they could get an experienced engineer for the same price. I did lose the unrealistic expectations that had been foisted upon me by well meaning advisers.
I did manage to snag a job doing research, which has now inspired me to go back to grad school for a more research oriented degree. I was and am very lucky.
My sense of optimism is temporally and spatially localized and highly dependent on how much sleep I've gotten the night before.
I think The American Dream is trite. Success is just as much dependent on luck as it is on hard work. The idea that quality of life could increase across generations perpetually seems delusional and any corresponding expectations are bound to disappoint.
The important thing is having the ability to be thankful for what you do have. Like access to clean, cheap water.
I think the word "optimism" in the Midmorning discussion should really be replaced with "unrealistic expectations."
I'm 28 and and I graduated with an bachelor's in mechanical engineering last spring. I don't know if I lost optimism as I saw the starting salary for my field drop $10,000 during my final year of school. Or if I lost optimism after I realized that no one would hire an engineer with little or no professional experience when they could get an experienced engineer for the same price. I did lose the unrealistic expectations that had been foisted upon me by well meaning advisers.
I did manage to snag a job doing research, which has now inspired me to go back to grad school for a more research oriented degree. I was and am very lucky.
My sense of optimism is temporally and spatially localized and highly dependent on how much sleep I've gotten the night before.
I think The American Dream is trite. Success is just as much dependent on luck as it is on hard work. The idea that quality of life could increase across generations perpetually seems delusional and any corresponding expectations are bound to disappoint.
The important thing is having the ability to be thankful for what you do have. Like access to clean, cheap water.
I am 29 years old and my husband is 28. He works in a mortgage area of a bank where he was hired as a temporary seasonal employee that can be gotten rid of without reason. That means that he has no PTO or benefits of any kind. So we lose money if he is sick or needs time off. I have an accounting degree and only have a $33,000 per year job because that is the only job I could get. There's no such thing as the "American Dream". That's a 20th century concept. I am indifferent about our financial future because no matter what, we will be paying debt until the day we die because we are in a credit based society. I am only glad that we never bought a house. The government seems to bleed the poor & middle class dry financially with high interest rates, hidden mortgage clauses, high cost of school, and credit ratings. Even if debt were forgiven, it will hurt credit ratings and hinder the poor/middle class from advancing in our society. Many say that the recession is coming to an end but I don't see it.
I myself am a little weary about the ability of our government to improve our situation. So I have decided for the first time as a 24 year old mother of two, to go to school to work in a medical field where I'll be able to take my skills else where if need be. I will do everything in my power to for-see the cost of school versus the money I'll be able to make from my career. I have also made -7 year plans with my mother/step father and brother to get a larger home we would all be able to share. I think this would help us emotionally and financially.
I'm 24 years old and two years out of college. I worked 40 hours a week through college and graduated successfully in 4 years with a degree in physics. I decided to commit myself to something bigger and I've been working as a high school teacher for the last two years.
I'm incredibly pessimistic. My debt to income ratio is really not good and the only debt I have is student loans. I think almost every day about changing professions so I can better support myself and start thinking about a family. However, I also know how shallow the decent science teacher pool is. It's a moral vs. person conflict I have almost everyday. Luckily for me, I wasn't elligable for federal loans, and Wells Fargo doesn't have forgiveness plans for teachers in urban areas.
Really makes me happy to know the feds can bail them out, but they won't reciprocate the federal loan forgiveness plans.
Young people are pessimistic. How can we not be? Our financial future is bleak. I graduate this spring magna cum laude, and I haven't been able to find a job, especially not in my field. Our leaders are more concerned about their political campaigns than the people of this country. I sincerely wish I had been born and raised across the pond in Europe. At least I'd be free of debt, and most of all, free of having to see the distorted version of capitalism that exists here. We live in a superficial and shallow place. Apparently only heirs and heiresses can achieve the American Dream. I have no pride in my country because I feel like I've been duped.
As one of those 20-somethings, I won't profess to speak for any form of the majority. I'm 22 years old. I graduated college last May after 4 years with a degree in education. I got a job teaching within 2 months of my graduation and now hold a full-time salaried position. Economically, I feel somewhat secure (but as a public school teacher in the age of educational cuts, true job security is hard to come by).
Politically, I feel disconnected. Obama was able to succeed largely because of the support and the work of the younger generations; the Democrats in Congress were able to succeed because of a general discontent with the opposing party--a phrase I remember hearing was "the lesser of two evils". And those dreaming of the Obama presidency as an immediate end to all the woes of the world forgot the creaking gearbox known as Congress. Politically, I am neither optimistic nor pessimistic. Health care has highlighted both sides: on the one hand, the issue showed that Congress is willing to at least attempt major reform. On the other, talk of "deem and pass" and the pre-Brown threat of filibustering the bill to death are fine displays of the arcane procedures that plague day-to-day proceedings. Reforms need to be made--not just in substance.
I'm 25, have worked in politics/government for the past 6 years and I'm pessimistic. I recently quit my job, moved back in with my parents and am starting anew with a retail job until I can find something more substantive. I find this economy and this political climate extremely depressing. I loved working in politics. I started out as a bright-eyed bushy-tailed intern/volunteer in college and I did anything I could to move my way up. The closer I got to my "dream job," the unhappier I became because I saw how dysfunctional our government really is and how narcissism and greed are the true drivers of our political system. So I took a step back to see how people outside of government are living and working.
I don't know if I'll ever return to the political arena, but if I do, I'll be a lot stronger and push aggressively for more changes. Given the current leadership on every level of government, I'm afraid for our future. Both parties should be ashamed of themselves.
Hey youth of America!
Look up "monetorizing the debt" and "debt saturation phase transition", and "Value added tax".
Government is living beyond it's means and your generation will pay for the selfishness of the current generation.
Heck, I'm 45 and on the end of the baby boom and I've lost it.
Social security going broke, Medicare going broke, and now a new entitlement program that will go broke.
Government living beyond it's means.
Hey all all the youth out there.......
Look up the term "monetorizing the debt" and "Debt Saturation Phase Transition".
Then ask why our kids future is bleak.
I'm 21, and have never been optimistic about my economic outlook. I'm going to be tens of thousands of dollars in debt when I graduate college, and probably won't even find a decent job. I'm losing my health insurance soon, and won't be able to afford to get it back.
As for political involvement... I am involved, but I have very little optimism about the way things are going now.
It is very difficult to be optimistic about politics when all that you see in Washington in partisanship. There are many important issues that we face as Americans that are not being dealt with in a professional manner. That is quite unfortunate for my generation and future generations. The decisions that we make today will have a massive impact on the next century. Instead of saying no and stalling, Washington needs to truly come together to advance America.
My personal outlook is rather bleak because my generation cannot afford the lifestyle that my parents and grandparents could in the 20th century. I feel that we are being priced out of the American Dream. My expectations are much lower now because of student debt, high health insurance costs, high costs of living, etc. etc.
If it seems young adults are losing optimism, might that be the result of excessive optimism in the late '90s? After the bursting of the tech and housing bubbles, with the Iraq war fiasco in between, maybe what we're seeing is a return to realism.
Rather than celebrate what is good about the U.S. specifically, when one looks at the general media and today's citizen journalists, the vast majority speaks to negativism (e.g., glass half empty). While times may not be ideal. Nothing compares to the challenges that had to addressed specific to World War II, The Great Depression, the Civil War and others. Those who proceeded us have laid the foundation where we as a society have it pretty good (e.g., food, shelter, clothing, education, mobility, etc.).
I am 18 years old, about 2 months away from graduating high school.
This is obviously a two part question, because one part has to do with my confidence in others and one has to do with my confidence in myself.
As far as politics goes, I am quickly becoming disinterested and pessimistic. The health care legislation debate is just the latest in a long line proving that politicians in Washington are not at all interested in the American people, only in their own political careers. If they really cared about important parts of this legislation, they would have had the patience to play the system with compromises, with breaking up this bolus of a bill that we are expected to swallow whole. Pass the "non-negotiables" separately, then hash out the controversials. And first and foremost, do not oppose or support something just because your party supports it. We see right through that here on Main Street, and we don't like it. Vote your heart.
Economically, though, I am feeling pretty good about my future. This could just be localized, getting a great Wayzata education and having parents committed to sending me to college, but I think all the indicators are pointing up. I have every intention of working hard in my field, and engineering is a hugely blossoming arena. The only thing that worries me is that people will forget the lessons of this recession, as chliche as that sounds. Bubbles will happen, I know, but let's admit that and protect ourselves. Other than that, though, it's a big bright beautiful future.
What optimism? My husband and I are barely scraping by (no money for retirement savings), he works a retail job just for the benefits and I've been looking for better work for years; our house was purchased three years ago and is now worth $30,000 less and ate up all our savings in repairs. Oh and we both graduated college with honors. The only light I see is the possibility of getting affordable Healthcare as independent contractors sometime in 2014.
I think there is some political optimism and that young people see themselves as potentially able to make a difference. However, I don't see optimism about our environmental situation. And I think the optimism for true equality for all could be waning as the advances are few and far between.
Given that I am 22 and 2 months shy of college graduation and I am super pessimistic about the future...I would have to say yes on the losing optimism part.
With the exception to the new student loan rules (pending senate approval) I think we are the forgotten demographic, and that can be disheartening. Whether or not that makes us more pessimistic, I haven't noticed, but with the teen/young adult unemployment stats through the roof, and the fact that people can't find jobs and use their degrees after college could definitely help foster a negative attitude.
This isn't even on the radar. Millenials care less about money and more about working toward social justice. Traditional equations of "optimism" with "consumer optimism" don't apply.
Most of the young adults I know are extremely optimistic, just not about money or politics.
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