Obama’s War on the Young Continues Apace

Powerline has a good graph showing the effects of Obamanomics on youth employment prospects.  I won’t ruin the surprise for you but needless to say, if you raise the costs of hiring then the least experienced and least skilled workers will get priced out of the market first.

So the leftist plan for our youth consists of making it difficult for them to get a job while at the same time encouraging them to take on massive debt acquiring degrees of little, if not negative, value.  If they manage to avoid this trap, and start out unburdened with huge college loan debts, they will get caught on the back end when they have to shoulder the burden for the national debt that is being run up to buy votes and enrich politicians in office now.

No one gets out of Obamanomics with their wallet intact.  When Obama took office the national debt per household was something on the order of $60,000.  When he leaves office it will be north of $120,000 and there will be absolutely nothing to show for it… no roads, no military build-up, no prosperity… nothing.

How the government running up debt that has to be paid by generations yet unborn is anything but taxation without representation is something that even the most advanced political scientists have yet been able to explain.  The obvious resolution of this is that a generation will eventually come along which is wise enough to repudiate debts they had no hand in making and from which they received no benefit.  It is a dubious proposition that even those alive and able to vote now should be burdened with debt just because their neighbors think it is a good idea.  But it is unconscionable when your neighbors feel it is their right to burden your progeny in perpetuity.

There is a reason social welfare states always end up at least moribund and stagnant if not outright bankrupt.  Socialism always consumes its own seed corn.  It is just really inventive in how it goes about it.  If the estimates of unfunded mandates are correct then we are fast approaching the point where every penny a person will earn in his lifetime will have been spent for him before he is even born.  Only a fool would think such a state of affairs can maintain  forever.

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