Foster's Big-Government Policies Leave Recent College Graduates in Debt

From the National Republican Congressional Committee (NRCC)…

Illinois Democrat’s Post-Stimulus Economy Remains a Particularly Dismal Place for Young Job-Seekers

WASHINGTON — As President Obama begins his tour of college campuses across the country this week, Bill Foster and his former Washington Democrat colleagues failed economic policies will remain the dominant issue. Foster’s massive stimulus spending and borrowing spree (Roll Call #70, 2/13/09) is hurting young people who will be forced to pay its price tag down the road. Clearly Foster and his Democrat allies have particularly failed young Americans with their harmful big-government policies.

“When Bill Foster and his former Washington Democrat colleagues passed their massive stimulus package, they essentially stifled economic recovery for millions of young people looking for jobs and asked them to bear the burden of that government debt,” said NRCC Communications Director Paul Lindsay. “Young voters will have to be wary of Foster since they will continue to be burdened by the failed Democrat economic policies he has championed.”

A new analysis by the Associated Press found young people are having a particularly difficult time in the Obama economy:

“The college class of 2012 is in for a rude welcome to the world of work. A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don’t fully use their skills and knowledge…

“Taking underemployment into consideration, the job prospects for bachelor’s degree holders fell last year to the lowest level in more than a decade.” (Hope Yen, “1 in 2 new graduates are jobless or underemployed,” Associated Press, 4/23/12)

Instead of ushering in a booming economic recovery, the Democrats’ stimulus spending policies actually hurt the economy and leave that debt burden on young people and future generations:

“The nonpartisan Congressional Budget Office said Friday that President Obama’s 2013 budget will hurt the economy in the long term, arguing the larger deficits it would produce would reduce the amount of capital available to businesses. After five years, the CBO says, the Obama proposals would reduce economic output by between 0.5 percent and 2.2 percent.” (Erik Wasson, “CBO estimates Obama’s 2013 budget plan would hit economic growth,” The Hill, 4/20/12)

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