Today’s economy is out of reach, especially for young people. Unfortunately for Florida’s Democratic party and Tallahassee’s progressive movement, this hurts party loyalty. College students will consider the unattainable cost of living at the voting booth this November.
With my background as a Republican staffer and executive committee member of the Miami-Dade County Republican Party, my vote will unlikely go to the Democrats in November. If it were, however, I would consider the state of the economy before checking off a box on the ballot. A recent survey from the James Madison Institute revealed that 48% of likely voters in Florida perceive inflation as a ‘very serious issue. The Federal Reserve’s latest announcement highlights that young Americans are facing inflation at a rate higher than that of older Americans.
The cost of living in the United States, especially for a young person who is a full-time student working a part-time job, was already expensive, even during the recent years of economic prosperity.
Now, for a full-time college student working a part-time job, the ability to afford today’s economy has become unattainable.
For example, the other day, I ventured to Lucky Goat Coffee to catch up with my friend Lestat. Just in gas, my day was already off to a $20 start. That’s not counting the coffee I had once I arrived.
The economy is hitting young people so ruthlessly that many have opted not to seek a collegiate degree.
Alone, the cost of getting a college or university degree has become unattainable for many. For those who can afford college, our late entry into the workforce will only prolong our inability to pay off the debt we accumulated in our years on campus.
As reported by Campus Reform, “Students soon entering the workforce are particularly concerned about the economy and inflation.”
Campus Reform stated that not only has the annual income for a new graduate declined by over 10%, but inflation has also made essential goods and services less affordable for new graduates.
The high cost of living impacts our current lives and our future.
According to BankRate, inflation is not just a number on a chart; it’s a real threat to young Americans’ savings accounts.
Studies show that young Americans’ low income restricts their ability to save, and they have to dip into their savings to afford their everyday lives. This means many young Americans are forced to potentially give up dreams of one day owning a house, a car, a solid retirement, and peace of mind for the future.
As time progresses, the fear of economic insecurity is not just a distant concern; it’s a growing reality that we, as a community, must urgently address.
Pedro Rodriguez is a third-year student at Florida State University on a pre-law track. He is a current writer for conservative platforms focusing on higher education and the communications intern at the James Madison Institute.
