Millennials in Debt: How President Trump Can Win Millennials Hearts and Unleash Economic Boom

Special National Feature: By Moses Goldman – Executive Editor, How We Make Money Online

With one genius stroke of the pen, President Trump can give millennials a fresh start; and with it an epic economic boom could be unleashed that may last for generations. For Trump personally, the icing on the cake is that he could potentially win millions of millennial votes and cruise to a crushing landslide in the Second Term Presidential Elections.

Like the Biblical Ancient Hebrews, 75 million millennials are in search of a Messiah. But will Trump be the Millenial Messiah? Only time will tell.

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Well, this is more of a wish than a reality. A Christmas wish, if you like. But for now, it looks like Santa Claus is not here yet. He’s probably somewhere in the North Pole getting his family ready for the coming Christmas.

So because Santa Claus is not here yet, let’s set aside this Christmas wish and look at the reality of millenial debt.

Well, the reality is “No Bueno”. For those who are yet to take Spanish 101, that simply means “Not Good At All”. The reality is that the picture of millennials in debt is not looking good at all! In fact, a look at the infographic below will give anyone a stark, sobering reality of how millennial debt has become a nightmare for millions of young people whose lives have just began.

Infographic Credit: YellowBrick Program

Millennials in Debt: Millennials are American youth born between 1982 and 2000. According to Wikipedia, there are more than 75 million millennials in America.

It’s no secret that these millennials are drowning in debt. These kids are up to their neck in debt. Student loans, credit card debt, car loans, store credit card debt….the list can go on and on.

According to Wikipedia, The Economist reported in June 2014 that U.S. student loan debt exceeded $1.2 trillion, with over 7 million debtors in default. In 2014, there was approximately $1.3 trillion of outstanding student loan debt in the U.S. that affected 44 million borrowers who had an average outstanding loan balance of $37,172.

Public universities increased their fees by a total of 27% over the five years ending in 2012, or 20% adjusted for inflation. Public university students paid an average of almost $8,400 annually for in-state tuition, with out-of-state students paying more than $19,000. For two decades ending in 2012, college costs rose 1.6% more than inflation each year.

Government funding per student fell 27% between 2007 and 2012. Student enrollments rose from 15.2 million in 1999 to 20.4 million in 2011, but fell 2% in 2012. Bloomberg reported in July 2014 that: “The biggest growth in the program came in the past decade, as student debt rose an average of 14 percent a year, to $966 billion in 2012 from $364 billion in 2004, according to New York Fed data.”

The stats of millennial debt simply don’t look good no matter how you look at it. There were around 37 million student loan borrowers with outstanding student loans in 2013. According to the Federal Reserve Bank of New York, outstanding student loan debt in the United States lies between $902 Billion and $1 Trillion with around $864 Billion in Federal student loan debt.

As of Quarter 1 in 2012, the average student loan balance for all age groups is $24,301. About one-quarter of borrowers owe more than $28,000; 10% of borrowers owe more than $54,000; 3% owe more than $100,000; and less than 1%, or 167,000 people, owe more than $200,000. Of the 37 million borrowers who have outstanding student loan balances, 14%, or about 5.4 million borrowers, have at least one past due student loan account.

The risks of default are skyhigh. For every student loan borrower who defaults, at least two more borrowers become delinquent without default. In 2010 for the first time ever, student loan debt exceeded credit card debt and in 2011 student debt surpassed auto loans (both of which were decreasing).

According to Mark Kantrowitz, publisher of FinAid.org, student loan debt is growing by $3,000 per second. According to a report by The Institute for College Access and Success the average debt from those who graduated in 2013 topped $30,000 in six states and was only below $20,000 in one state.

Data released by the Federal Reserve Bank of New York showed that in the fourth quarter of 2014 delinquency rates for students dipped to the point where approximately one in nine student loans is past due. As of 2015 over half of outstanding student loans are in deferral, delinquency or default

Here is the bottomline: As of 2015, over half of outstanding student loans are in deferral, delinquency or default.

Are These The Greatest Generation?

Okay, wait a minute. I know what you’re probably thinking. Let me guess. You’re thinking sooner or later, millennials will land some high paying, Wall Street type jobs in ways that allow them to pay off their mountains of debt and live happily ever after.

No Sir. No Mum. For now, it’s not happening.

Compared to the Greatest Generation of the World War 2 era, these kids are having a tough time finding high paying jobs. In terms of quality of jobs, and with all the mountains of debt staring in their faces, sadly, these millennials are NOT the Greatest Generation.

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Millennials in Debt — A recent report by Forbes revealed how millenials are struggling to find jobs. Despite being an up-and-coming, in-demand generation, and one that’s consistently shaping how we think about work, millennials are still having a hard time finding reasonable jobs. The millennial unemployment rate stands at an unfortunate 12.8 percent, compared to the national average of 4.9 percent.

The modern American workplace needs millennials to gain experience and replace previous generations in positions of leadership as time goes on, but millennials seem to be facing a uniquely difficult challenge doing so compared to other generations.

President Trump: The Millennial Messiah?

Will millennials cozy up to President Trump? The question should rather be: will Trump make the first move and cozy up to millennials? Again, only time will tell.

For now though, one thing is clear: millennials are more comfortable in the Clinton camp. A recent news story on Bloomberg revealed that Clinton won 55 percent of the millennial vote while Trump gained 37%.

Among the younger portion of the millennial generation, 18 to 29 year olds, Trump earned 37 percent of the vote to Clinton’s 55 percent. Millennials of color were considerably more likely to support Clinton than Trump, Circle found, while young white voters actually threw more support behind the winner. Trump secured 48 percent of the white vote in the 18-to-29 age group, while Clinton won just 43 percent. Still, Republicans fared poorly with youth vote overall.

Will Trump make a genius move and turn the tables against the Democrats? After reading his best-selling books, we at How We Make Money Online are fully convinced that President Trump has the genes for making genius, game-changing moves. Secretly, even his enemies may admit this.

For now, the question is: will Trump pull off another genius move and cancel or ease millennial debts? Will Trump be the Millennial Messiah?

If he makes this Messianic move, it will unleash an economic boom that may last for generations.

Here’s how the numbers add up;

There are more than 75 million millennials in America. This is the heart of America. This is America’s future.
Let’s assume conservatively that some form of debt cancellation or easing will benefit only 20% of millennials. That means 15 million young Americans.
That almost means 15 million new families being started ( see above infographic – how debt is delaying millennials from starting families)
This could mean 15 million new houses (or apartments, at least)
That could mean 15 new SUVs for millennial families.
15 million new refrigerators
15 million new furniture sets
15 million new TVs
15 million new computers
Probably, another 15 million new babies ( assuming only half of them have children, that’ll be 7.5 million new babies!)
7.5 million new babies will consume tons of baby foods and baby products!
The list could go on and on. But for now, let’s stop right here.

It’s almost guaranteed that a debt cancellation or easing for American millennials will trigger an epic economic boom that will last for generations. For Trump, this is the best way to achieve a 3%, 4% or even 6% economic growth! And then, these millennials could well be The Greatest Generation.

Well, if you doubt this analysis, you can comment below and tell the world which other ideas can produce 3% growth rate for America. With 75 million millennials, this is the best idea. Period.

President Trump has a big decision to make. With 75 million millennials in debt, he is standing at the crossroads of history. His decisions could impact generations. And he knows it.

For now, 75 million millennials are crying for a Messiah. But like the Biblical Moses, will Trump return to Egypt and save his people? Will Trump be the Millennial Messiah?

Only time will tell.

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(Sources: How We Make Money Online, with Wikipedia, YellowBricks Program, Forbes, Bloomberg and all other copyright owners)