The president is having a hard time rounding up the support of young people to generate enthusiasm and votes for his reelection campaign, no doubt because this time around, he’s forced to run on his record, verses vague promises of “hope” and “change.” In 2008, young voters constituted a full fifth of his support, but this time around less than half of Americans between the ages of 18 and 24 plan to vote in November and only 40 percent are even registered to do so currently. Young Americans certainly have more time on their hands this time around, with 1 in 2 new graduates unemployed or underemployed in jobs that don’t utilize their education background. Too bad for Obama that it doesn’t seem they will be using that time to campaign for another four years of his economy.
How has the president tried to get on the good side of young voters? This week Obama and Biden have made tours of colleges in swing states touting a plan to prevent a doubling of interest rates for students who take out federally funded Stafford loans (despite not even bothering to be present for the 2007 vote). The plan wouldn’t help Americans already paying off student loans, nor would it help those who took loans from private institutions. How many students will this plan actually help? Very few. Like many other lofty presidential plans, however, the most important part is merely the optics – actual results are just a bonus. I’ve written previously on the $1 trillion student loan bubble, and unfortunately, the program being touted by the White House will probably do more harm than good.