How National Debt Affects Young People's Jobs and Income

Young adults today are more educated than ever before, with record numbers earning college degrees. However, their incomes have barely grown in 50 years when adjusted for inflation. Today's 25-38 year olds also have fewer assets (like homes and savings) than people their age had in the late 1980s and early 1990s. In 1989, the typical young household had assets worth about $75,000 (in today's money), which rose to $142,000 in 2007 during the housing bubble, but dropped to only $90,000 by 2019. This comes at a time when student debt keeps rising. The Up to Us organization explains that addressing our national debt could help improve this situation - reducing the debt could increase each person's income by as much as $6,300 by 2050. The organization encourages young people to get civically engaged to help solve these economic challenges through their campus competition, leadership bootcamp, and advocacy efforts.

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MoneyHow National Debt Affects Your Money and FutureThe national debt is money the U.S. government owes to people and other countries. When this debt gets too big, it can hurt everyone's finances. It could make it harder and more expensive to get loans for homes or start businesses. By 2053, the government will spend more money just paying interest on debt than on schools, roads, and research combined. This means less money for important things that help communities grow. Young people will be especially affected - one study showed families could lose $16,000 in income by 2048. The debt also takes money away from healthcare, education, and other vital services. About one-third of the debt is owed to other countries. The Up to Us organization teaches young people about this issue and encourages them to talk to their representatives. They believe everyone should care about fiscal policy, whether you care about healthcare, education, clean energy, or defense. You can sign a pledge to show you care about America's financial future and get involved in your community.