America, becoming a third world country?

According to CNN, the employment rate in the US for youths aged 16-29 is now 55.3 %. The article linked this to the fact that Mr Obama's approval rating with American youth is less than half. Is Mr Obama to blame? Probably not. Is he capable of making a change to these drastic figures? No. Presidents get saddled with  responsibility for all sorts of things they, in reality, have no control of; that is a well known fact. Nonetheless, they are ceaselessly blamed for what they cannot control. About the only thing Mr Obama can control in this picture is whether or not he runs for reelection. Perhaps the smart thing to do would be to not run again. He has garnered a few considerable accomplishments in these grim times. Though, understandably, their level of importance to the average American is not high: he authorized and oversaw the demise of Osama bin Laden; controversially, he decided on military action in Libya (or perhaps his hands were tied and it was decided for him) which resulted in Mr Gaddafi's eventual demise, he ended the Iraq war (though many would say this took him far too long), and he brought into play a highly controversial health care bill. Still, on the most important issue, that of the economy, he has done nothing to improve matters (again, it is questionable as to whether he can do anything).

With over half our youth unemployed and unpaid student loans now surpassing unpaid credit card debt, the massive tragedy of America's broken economy is not easily disguised. And this inevitably brings up questions of the United State's gravely uncertain future. Is the nation on its way to unemployment rates rivaling those of third world countries, many as high as 80 %? Possibly. Does anyone in America, politicians, businessmen, academics, think tanks or anyone else, have a viable plan for the nation's recovery? Not one we have seen.