How Millennials are Countering the White House Budget
I suppose until Millennials figure out how to vote in their home states (both a criticism and a fact), they are instead left to indirectly influence political policy through consumer actions and a whole slew of complaining...a.k.a. the 'hard' way.
But what, if any, direct impact or actions that Millennials will have on the progression of the White House's proposed budget is not abundantly clear. So the short answer to the title of this article is "not much."
More obstacles will exist for college students by cutting federal financial aid, on-campus support programs and reducing skill training programs. The idea was initially to cut funding for student who say they are taking out loans from the government for school...but are in fact using that money to fund other things. While that may help eliminate some issues, it doesn't boost anything for students who have the fortitude to attend college but lack the resources.
The Public Service Loan Forgiveness Program is also being cut from the budget. This was enacted by President George W. Bush as a way to a) get more young people working in the public-service sector and b) would allow students to have their loans forgiven after 10 years of on-time payments while working in the public sector. The new budget wants to encourage "fiscal responsibility" and so this program is going bye-bye.
Medicaid is now likely to be regulated by the states and not the Federal Government. This program was designed to cover healthcare costs for the poorest Americans, who for the most part live in urban areas (like many Millennials). While this may not directly impact Millennials personally, it will definitely impact the communities where they live (i.e. a boost in crime) and so they should care.
92% of American Millennials believe that climate change is a threat that needs to be addressed. Obviously, we know how that story ends.
Only 20% of American Millennials support the construction of a wall along the US border with Mexico. Is that really all that shocking?
Efforts to control immigration will ultimately put a damper on economic growth. The White House budget ultimately hopes to get the US economy back to 3.0% growth, all the while cutting funding to growth industries and limiting immigration and work visas. As the Baby Boomers retire, there needs to be a massive boost in the nation's working-age population to sustain support for their Social Security and healthcare benefits. Since that population is not having any more children that would otherwise support them, there needs to be steady growth in the number of immigrants through 2035 in order for the system to sustain itself. However, cutting back on immigration would result in 18 million fewer working aged adults in the country through the year 2035.
Encouraging "Buy American, Hire American" has resulted in discussions to potentially cut the H-1B visas, which are largely responsible for the consistent flow of top tech talent in places like Silicon Valley. 76% of young Americans believe that immigrants are assets that "strengthen our country" while only 48% of Baby Boomers think so. Hmmm. Do they want to retire or not?
Lesson #1, Millennials: VOTE