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While the least financially secure Americans are more likely to back Democrats, that support is undercut by low political participation. Those who are financially insecure are far more likely to opt out of the political system altogether.
The different direction of economic fortunes since the Great Recession has had a major impact on life satisfaction in countries around the world.
In 2012, a record 69% of the nation’s new college graduates had taken out student loans to finance their education. Graduates from more affluent families are much more likely to borrow today than 20 years ago.
Perhaps surprisingly, not very many people earn minimum wage, and they make up a smaller share of the workforce than they used to.
More people are having trouble keeping up with their student-loan payments than in years past, several studies show.
A record 37% of young households had outstanding student loans in 2010 and a median student debt of $13,000.
When asked about the future prospects of “children today,” Americans generally said that when today’s kids grow up, they would be worse off financially than their parents. While this is a pretty glum judgment about what lies ahead for today’s children, Americans’ optimism resurfaces when people are asked about their own kids.
