Millennials: A Generation That Failed to Launch
Millennials continue to suffer under the Obama economy.
Millennials, who fell so hard for Barack Obama’s hype about Hope and Change™, continue to suffer under the Obama economy. A new survey by the Pew Research Center finds that the most common living arrangement for young adults is living at home with mom and dad. In 1960, only 20% of Americans 18 to 34 years old lived with their parents. For most, 62% either married or lived with a partner in their own house, paying their own bills. Fast forward to 2016 and only 31.6% of Americans in that age range are making a home of their own. Meanwhile, 32.1% of them are still living with parents.
There are two factors driving this trend, Pew reports. First, the rate of marriage has been on the decline for years. These days, one out of four Millennials has never been married — and we’re not even talking about divorce rates here. Secondly, fewer of them are holding jobs. “In addition,” Pew writes, “trends in both employment status and wages have likely contributed to the growing share of young adults who are living in the home of their parent(s), and this is especially true of young men. Employed young men are much less likely to live at home than young men without a job, and employment among young men has fallen significantly in recent decades.”
While many of these Millennials in their parents’ home lined up to support Obama in 2008 and 2012, Obama’s economic policies have destroyed their job prospects. Sadly, the only change for them was to pull down their Obama posters and put up their Bernie Sanders posters. A new generation is taking Sanders’ bait, and his policies would be even worse than Obama’s soft socialist policies.
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