The Economic Perspective: “Should Millennials Worry about the Future Economy?”

I’m Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program asks if millennials should worry about the future economy.  Mike, there have been several recent surveys showing the millennial generation – those born between 1980 and 2000 – is pessimistic about their future finances.  Should they be?

  • Based on several worries – student debt, national debt, rising health care costs, solvency of Social Security
  • These are all important issues
  • The national debt, health care costs, and SS aren’t new issues
  • There are reasonable solutions to each – just need to develop consensus to implement them
  • Student debt is a new issue
  • But if a college student has average debt of $30,000, graduates, and obtains a job requiring a college degree, then they will easily pay that debt and earn much more than if didn’t have the college degree
  • So, these issues require both collective and personal solutions
  • I’m MW

And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.