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The Big Fail: Happy Graduation?

- April 14, 2012

Obama’s Commencement Address Probably Won’t Mention How His Policies Have Made The Job Market Tougher For College Grads

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TODAY, OBAMA WILL DELIVER THE COMMENCEMENT ADDRESS AT BARNARD COLLEGE

Obama Will Give The Commencement Address At Barnard College, After Bumping Jill Abramson Who Was Previously Scheduled To Speak. “President Obama will deliver the keynote address at Barnard College's 120th Commencement ceremony this May, replacing Jill Abramson, the executive editor of the New York Times who was previously scheduled to address the all-female school.” (Dylan Byers, “Obama Bumps Jill Abramson At Barnard,” Politico's "On Media," 5/10/12)

  • Abramson Was The First Female Editor Of The New York Times. “Abramson, the first-ever female editor of the Times, has noted that she is happy to speak at Barnard at a later date.” (Dylan Byers, “Obama Bumps Jill Abramson At Barnard,” Politico's "On Media," 5/10/12)
  • “Reached By Email, Abramson Declined To Comment On The Matter.” (Dylan Byers, “Obama Bumps Jill Abramson At Barnard,” Politico's "On Media," 5/10/12)

OBAMA WON’T MENTION THAT MANY COLLEGE GRADUATES WILL BE UNABLE TO FIND A JOB THANKS TO HIS FAILED POLICIES

“Graduating College Students Face A Mixed Job Market At Best This Year, And Most Will Leave School Without An Offer In Hand.” “Graduating college students face a mixed job market at best this year, and most will leave school without an offer in hand, despite an uptick in hiring by on-campus recruiters. A survey of employers by the National Association of Colleges and Employers showed those that recruit on campuses plan to boost hiring of new grads by 10.2% from last year. However, on-campus recruiting is only a small slice of the pie—the bulk of graduates find jobs on their own.” (Lauren Weber and Melissa Korn, “For Most Graduates, Grueling Job Hunt Awaits,” The Wall Street Journal, 5/7/12)

Only Half Of Recent College Graduates Are Working Full-Time. “For most recent college graduates, these are gloomy times. Only about half are working full-time, with the majority starting with less pay than expected while also dealing with huge student debts. Nearly six in 10 think they’ll end up less financially successful than their elders.” (Tiffany Hsu, “Half Of College Grads Working Full Time, With Less Pay, Deep Debt,” Los Angeles Times’ “Money & Co,” 5/10/12)

“Workers Who Graduated During The Recession – From 2009 Through Last Year – Earned A Median Starting Salary Of $27,000 – Or $3,000 Less Annually Than Earlier Graduates.” “Workers who graduated during the recession – from 2009 through last year – earned a median starting salary of $27,000 – or $3,000 less annually than earlier graduates. Nearly a quarter of all respondents said their current job pays much less than they’d anticipated. Female graduates earned $2,000 less than their male counterparts.” (Tiffany Hsu, “Half Of College Grads Working Full Time, With Less Pay, Deep Debt,” Los Angeles Times’ “Money & Co,”5/10/12)

Most Recent Graduates Receive Financial Help From Their Family And A Third Live At Home. “Many are still struggling. Among recession-era graduates, the majority get some kind of financial help from their family. A third live at home or get help for housing costs; a quarter rely on family to pitch in for food and healthcare costs.” (Tiffany Hsu, “Half Of College Grads Working Full Time, With Less Pay, Deep Debt,” Los Angeles Times’ “Money & Co,” 5/10/12)

Will Obama Talk About How Many Graduates Will Spend Years Paying Off Their Student Loans?

When Obama Took Office, The Average Tuition For An In-State Four Year College Was $6,585. ("Trends In College Pricing 2009," College Board, 2008)

  • For 2011-2012, The Average Tuition For An In-State Four Year College Is $8,244, A 25 Percent Increase. ("Trends In College Pricing 2011," College Board, 2011)

“Ninety-Four Percent Of Students Who Earn A Bachelor’s Degree Borrow To Pay For Higher Education — Up From 45 Percent In 1993.” “Ninety-four percent of students who earn a bachelor’s degree borrow to pay for higher education — up from 45 percent in 1993, according to an analysis by The New York Times of the latest data from the Department of Education. This includes loans from the federal government, private lenders and relatives.” (Andrew Martin and Andrew Lehren, “A Generation Hobbled By The Soaring Cost Of College,” The New York Times, 5/12/12)

  • “For All Borrowers, The Average Debt In 2011 Was $23,300, With 10 Percent Owing More Than $54,000 And 3 Percent More Than $100,000.” “For all borrowers, the average debt in 2011 was $23,300, with 10 percent owing more than $54,000 and 3 percent more than $100,000, the Federal Reserve Bank of New York reports. Average debt for bachelor degree graduates who took out loans ranges from under $10,000 at elite schools like Princeton and Williams College, which have plenty of wealthy students and enormous endowments, to nearly $50,000 at some private colleges with less affluent students and less financial aid.” (Andrew Martin and Andrew Lehren, “A Generation Hobbled By The Soaring Cost Of College,” The New York Times, 5/12/12)

OBAMA WILL AVOID TALKING ABOUT HIS ECONOMIC POLICIES, WHICH HAVE PRODUCED A “HECOVERY” AND HAVE LEFT WOMEN BEHIND

Since Obama Took Office, The Unemployment Rate For Women Has Increased From 7.0 Percent To 8.0 Percent. (Bureau Of Labor Statistics, Accessed 5/4/12)

  • Since The Stimulus Was Passed, The Unemployment Rate For Women Has Increased From 7.3 Percent To 8.0 Percent. (Bureau Of Labor Statistics, Accessed 5/4/12)
  • Women Have Lost 567,000 Of The 572,000 Jobs Lost Since Obama Took Office. (Bureau Of Labor Statistics, Accessed 5/4/12)

“Tough News, Women Of America: The Jobs Recovery Will Lag More For You Than For Men.” (Josh Boak, “Jobs Recovery Slower For Women,” Politico, 4/17/12)

“The ‘Mancession’ Has Morphed Into The ‘Hecovery,’ Leaving Women Workers Largely In The Dust.” “More jobless Americans are finding work these days, but they are mainly lucky fellas. The ‘mancession’ has morphed into the ‘hecovery,’ leaving women workers largely in the dust. The share of adult women who are employed is lower than it was two years ago, while men have seen an upturn.” (Tami Luhby, “Where Have All The Women’s Jobs Gone?” CNN Money, 4/20/12)

  • “‘Even Though We Are Seeing Some Recovery, We Have Not Seen It In A Recovery Of Jobs For Women,’ Said Heather Boushey, Senior Economist At The Left-Leaning Center For American Progress.” (Tami Luhby, “Where Have All The Women’s Jobs Gone?” CNN Money, 4/20/12)

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