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Dheer Chawla

Youth and the Economy: The Changing Priorities of Young Voters

This article was written by Dheer Chawla a student at the University of Warwick. This article is part of his column 'Behind the Headlines'.


As the 2024 U.S. elections approach, one demographic group is poised to wield unprecedented influence: young voters. Born into a world of rapid change and hustle, today’s youth face a complex range of challenges that shape their political preferences and priorities. With issues ranging from student debt and job security to social justice and equity, the newer generation is increasingly vocal about its expectations for the economy and the policies it wishes to see enacted. How are these priorities reshaping the political landscape, and what implications might they have for the future of U.S. economic policy?


The Modern Albatross: Education as a Debt-Fueled Investment


One of the prime concerns for young voters today is the burden that student debt imposes on them. As of the second quarter of 2024, approximately 43 Million Americans owe $1.74 trillion in student loans, a staggering figure that profoundly impacts the financial well-being of young adults. This debt not only limits their ability to invest in homes or start businesses but also affects their broader life choices. The frustration surrounding student debt has fueled calls for reform, with many young voters demanding comprehensive solutions, such as debt forgiveness or a reduction in tuition fees.


Kamala Harris has taken an extremely strong stance on student debt relief by calling for policies that would forgive a certain percentage of federal student loans and make public college tuition free for families below a certain threshold in income. As a US senator, she was a co-sponsor of the 'College for All' Act of 2017, which would abolish tuition at public community colleges and grant free tuition at public four-year colleges for families making less than $125,000 annually. Her administration's focus on educational accessibility resonates with a generation burdened by financial constraints, positioning her as a flagbearer for economic equity.


Donald Trump has conventionally rallied behind market-driven education reforms. Trump has a meritocratic way of governance wherein, regarding student loans, he once mentioned that loan forgiveness would be "very, very unfair to the millions and millions of people who have paid their debt through hard work". It is also widely claimed that Trump spent much of his time in the White House trying to weaken a 1995 law popularly known as 'borrower defense to repayment.' According to the law, the federal government should have forgiven the loans of students who attended schools that had misled them to lure enrollment. However, in March 2020, Trump did also exempt all federal student loans from interest in order to lighten the financial load of borrowers during the COVID-19 pandemic.


This divergence in approach raises an important question: can candidates who fail to directly confront the student debt crisis expect to garner support from the very demographic most affected by it?


Precarious Pathways: Redefining Job Security in the Age of Gig Work and Automation


In addition to student debt, job security is another concern that seems to rise among young voters. Employment landscapes have dramatically changed in the last couple of years and have called into question the so-called 'traditional pathways to success'. In fact, one recent poll showed that 62.2% of people between the ages of 25-44 consider job security a concern – a realization brought on by acute sensitivity to the shifting economic climate.


Harris's economic program was directed to job creation for the growing sectors that include renewable energy and technology. Indeed, her proposals do involve heavy investments in infrastructure to create millions of good-paying jobs, at the same time taking care of climate change – a notion befitting young voters who want a stable job with a sure future.


Trump's policies, by contrast, have been all about deregulation and cutting taxes to spur businesses on. The former president has said that the period in American history when there was no income tax – and thus the country had to rely on tariffs to pay for the government – was a great one. This may be instrumental in job creation in the short term.


As the world moves towards a greener economy, will a focus on outdated job sectors resonate with a generation committed to sustainable development?


Equity or Illusion? The Unyielding Pursuit of Social Justice


The priorities of the young electorate now mirror, as well, the broader demand for social justice and equity. Movements on racial justice, gender equality, and LGBTQ+ rights have framed young Americans to demand policies that advance inclusivity and fairness in a society where disparities are laid bare, the young voter is calling for systemic changes which reach the root cause of inequality.


Harris has made sure equity is front and center in much of her recent work: advocating for policies that begin to tackle systemic racism, provide additional health resources, and open up more economic opportunities. Her concentration on social justice really connects with young voters who see a world where real economic progress cannot be achieved without resolving issues of social inequity.


On the other hand, the Trump administration has been characterized by unpopular positions that have offended marginalized communities on more than one occasion. Such marked contrast in their approach to social issues underlines the growing salience of equity in political discourse. The question, as many are quick to point out, is rhetorical: How can an economy be strong if it leaves behind those who have always been left behind?


Digital Activism and the Rise of Youth Power: Mobilizing in the Age of Hyper-Connectivity ⁤


As young voters increasingly exercise their rights within the political process, their unified power now is undeniable. The traditional underrepresentation of the youth vote seems to be changing with each progressing election cycle. For instance, in 2020, it reached 50%, up from 39% in the 2016 election – an increase of a full 11%. Such momentum points out a new trajectory in the political landscape, wherein candidates have to take into great consideration the need to attract support from younger voters.


Digital activism is the lifeblood of such mobilization. Social media platforms provide sites for organizing, educating, and galvanizing support on issues relevant to youth. The robustness of movements like 'Black Lives Matter' and 'Fridays for Future' stands as a testament to the potential of digital platforms in amplifying both, the voices and priorities of young people. If candidates are to connect with a generation that demands transparency, authenticity, and meaningful engagement, they will have to cohere their claims of desire for generational change.


Lessons from History: Presidential Engagement and the Youth Vote


History can be instructive on several counts in this respect. The same attention to the aspirations of the young can be seen in how past presidents left their marks. To be sure, Franklin D. Roosevelt's 'New Deal' programs during the Great Depression tried to come to terms with the economic hardships of an entire generation. By investing in public works and thereby opening up jobs, Roosevelt gave speedy relief and a sense of hope to young Americans.


Similarly, John F. Kennedy stirred the minds of youth to mobilize them toward growth and transformation. His call to service – “ask not what your country can do for youᅳask what you can do for your country,” – rallied a generation toward civic responsibility and contributing to the greater good.


Today, Harris and Trump must take the next great leap: discern what the young voter wants and offer solutions that reflect their values. The question now is whether tomorrow's leaders will take up the mantles of past presidents and seriously reach out to the issues affecting the nation's youth.


⁤The Tides of Transformation: Youth, Policy, and the Politics of Tomorrow


Where young voters' priorities are changing, it is, in fact, a transformative moment that has arrived in American politics. Confronted by student debt, job security, and social justice, their voices are working their way into reshaping a new narrative on policy priorities.


The outcome of this election will impact not only the lives of young Americans but will determine what course U.S. policy will take for decades to come. And so, at this pivotal juncture, an enduring question arises: how will the choices we make today shape the legacy we entrust to future generations?


 

References:


  1.  ""Ask Not What Your Country Can Do For You..."." JFK Library, www.jfklibrary.org/learn/education/teachers/curricular-resources/ask-not-what-your-country-can-do-for-you.

  2. Duehren, Andrew. "Nytimes.com." The New York Times - Breaking News, US News, World News and Videos, 24 Oct. 2024, www.nytimes.com/2024/10/24/us/politics/donald-trump-tax-policy.html.

  3. "Half of Youth Voted in 2020, An 11-Point Increase from 2016." CIRCLE, 29 Apr. 2021, circle.tufts.edu/latest-research/half-youth-voted-2020-11-point-increase-2016.

  4. Killpack, Kaili. "Harris' Push For Free College Vs. Trump's Focus On Workforce Training: Which Is Right For America?" Yahoo Finance - Stock Market Live, Quotes, Business & Finance News, 7 Sept. 2024, finance.yahoo.com/news/harris-push-free-college-vs-133024723.html.

  5. "New Deal." Encyclopedia Britannica, 5 Sept. 2024, www.britannica.com/event/New-Deal.

  6. Schulz, Matt. "U.S. Student Loan Debt Statistics for 2023." LendingTree, www.lendingtree.com/student/student-loan-debt-statistics/.

  7. The Washington Post, 10 Sept. 2024, www.washingtonpost.com/politics/interactive/2024/trump-harris-student-loans-education/.

  8. Webster, Mark. "Survey Reveals: 55% Of U.S. Workers Have Job Security Concerns." Https://www.authorityhacker.com, 7 Oct. 2024, www.authorityhacker.com/job-security-survey/.




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