The United States is currently facing serious problems at nearly every level of domestic and international politics. Indeed, the quality of life that most Americans have enjoyed has significantly declined over the last several years. Since the 2020 presidential election occurred in November of that years, the economic climate within the United States has markedly deteriorated. Inflation has crushed American consumers everywhere, with millions of Americans struggling to make ends meet. Recent projections from the media outlet CNBC have alleged that 6 out of every 10 citizens may be living on a week to week basis and surviving from paycheck to paycheck. Additionally, interest rates have soared, and mortgage payments have reached exorbitant heights. Things are not going well for many young citizens who are beginning their early adult lives and attempting to save to buy a house. Many young people are now forced to live at home for longer years, and even enterprising young individuals face significant challenges.
American currently owe a staggering 1.1 trillion dollars in credit card debts, a record high. As groceries continue to rise in cost, basic necessities like food, water, energy bills and other routine items have become so expensive that Americans are going further into debt or depleting their savings just to keep the lights on. Young people and those on fixed incomes are amongst the groups suffering the most. A recent article by CBS alleged that more young people are living at home than at any other time since the 1940’s. A survey from Bloomberg showed that 45%, of those aged 18 to 29 are at home with parents, and that 60% of people in generation Z reported moving back within two years.
Additionally, many youngsters carry massive amounts of student loan debts post-college. In a bid to gain youthful support, President Biden touted a widespread federal forgiveness program, but a recent poll shows that 40% of Americans don’t support this program.
