Gary Shapiro writes for the Washington Examiner about multiple Obama administration policies that are hurting young adults.
At the end of July, the Bureau of Labor Statistics reported more than 5.6 million job openings in the U.S. So, why are recent college grads less likely to secure good jobs and move out of their parents’ homes?
Today’s college students face barriers to good jobs that did not exist before President Obama took office. These six seemingly well-intentioned Obama administration actions threaten our overall economy and competitiveness as a nation:
1. Transforming graduate students into employees. In late August, the National Labor Relations Board (NLRB) declared graduate students are no longer students. Now they are employees.
This ruling allows the students to unionize, strike and shut down university campuses. The NLRB’s intention was to improve pay and working conditions for graduate students. But in reality, cash-strapped universities will have to limit the number of graduate students they accept or raise tuition for undergrads. …
… 2. Banning unpaid internships. Early in the Obama administration, the Department of Labor (DOL) subjected employers to a list of six new requirements for unpaid internships, which has made it harder for students to secure entry-level jobs. Internships help young adults build their resumes and gain experience. …
… 3. Requiring overtime for everyone making less than $47,476. A new DOL rule set to go into effect in December doubles the threshold for overtime eligibility. That means fewer recent graduates with professional degrees, but without real-world skills, will be hired. …
… 4. Altering student debt. Obama has taken many unilateral actions to forgive or extend student debt. While I’m sure this made the students feel good, someone had to pay for that forgiveness at the expense of other government programs or higher federal debt. Our young people must learn financial responsibility. We can’t afford to continue pushing college on all students no matter the major or cost. …
… 5. Mandating health care for all employees and requiring young people to carry the burden of older people’s health care costs. Obamacare requires employers to provide employees with health insurance or pay stiff penalties. This makes it more expensive to run a business and hire new employees. …
… 6. Doubling the federal debt. In just eight years, Obama created more national debt than all the presidents before him combined. Today the national debt stands at more than $19.4 trillion.
Today’s graduating students face a future when all government revenues go to just two budget line items: interest on the debt (5 percent interest on $20 trillion is $1 trillion annually) and entitlements such as Medicare, Medicaid and Social Security.