Obama Trying to Recapture the Young Vote

As reported earlier, President Obama won big with the young vote in 2008. He received 66 percent majority of the young vote in 2008 (Horowitz Keeter and Tyson) After he took office, Obamas approval rating among voters 18-29, was 84 percent according to a Washington Post poll (Blake). However, since then his support among the young population has been slipping. The latest October 23rd Gallup poll shows, President Obama’s rating to be just 47 percent. With the upcoming elections, President Obama needs to recapture the support of this group. I believe that this is exactly what the president is trying to do. Recently, in my home state of Colorado, President Obama presented a new plan that will help recent and future college graduates with their student loans.

At CU Boulder, Obama said the following, “College isn’t just one of the best investments you can make in your future, it’s one of the best investments America can make in our future. We want you in school. But we shouldn’t saddle you with debt when you’re starting off ”(Bruce). He plans to do this in a variety of ways. First, he plans on allowing students to consolidate their federal loans into one and pay the lowest interest rate of all of them (Bruce). Second, the plan will reduce the amount an individual is required to take out of their annual income for repayment of student loans from 15 percent to 10 percent (Bakst). It is important to point out that this was actually enacted by Congress and President Obama just moved the date that it would go into effect from 2014 to 2012 (Bakst). Third, he plans on forgiving outstanding student loans after 20 years instead of the 25 years it is now (Bakst). The president says that this new plan will not affect taxpayers in terms of increasing taxes to cover it (Bakst).

I think that this is a step in the right direction to recapture the young vote and even improving our economy. Since his job approval rating has been slipping among young adults, it was important for Obama to do something to summon their support again. One of the issues the Occupy Wall Street movement is concerned with is student loans. Although, I do not think that this plan will make the protestors pick up and go home feeling they have won, I believe that Obama is going to receive recognition for trying to help Americans most affected by this recession. Also I think that this plan will help boost our economy. As Obama pointed out student loan debts are the second leading source of household debt (Bakst). If you take some of the burden off of people for student loans, then they will have more money to spend on other things and stimulate the economy.
As predicted the GOP had only negative things to say about the plan. Michelle Bachmann said that this plan will give people an incentive to no repay their debt (Bakst). I do not agree with this statement. It does not say that you do not have to repay your debts, but it just makes it easier for people most affected by this recession.


Works Cited
Bakst, Brian. "Michele Bachmann Criticizes Obama Student Loan Plan." Breaking News and Opinion on The Huffington Post. Web. 29 Oct. 2011. .

Blake, Aaron. "President Obama and Young Voters Are No Longer a Love Match - The Washington Post." The Washington Post: National, World & D.C. Area News and Headlines - The Washington Post. Web. 29 Oct. 2011. .

Bruce, Mary. "President Obama Unveils New Student Loan Plan in Denver - ABC News." ABCNews.com: Daily News, Breaking News and Video Broadcasts - ABC News. Web. 29 Oct. 2011. .

Horowitz, Juliana, Scott Keeter, and Alec Tyson. "Young Voters in the 2008 Election." Pew Research Center. Web. 29 Oct. 2011. .

"Presidential Job Approval Center." Gallup.Com - Daily News, Polls, Public Opinion on Government, Politics, Economics, Management. Web. 29 Oct. 2011. .