Evan Feinberg, president of Generation Opportunity, recently had an insightful article in Forbes, “Heavily in Debt Millennials Now Must Foot the Federal Deficit Bill, Too.” Feinberg focuses on the difficult economic times facing Millennials. His observations rest on some pretty basic facts. First, the typical college graduate is trying to pay down about $32,500 in student loan debt. Then, the unemployment rate for those ages 18-29 is a near-record 16%. Feinberg proceeds to note that the burdens of the massive, growing federal debt are going to fall most heavily on those who are just starting their careers. That will be painful for decades as the entitlement state implodes but will probably entail decreased benefits and higher taxes.

I would add that Obamacare is going to be an immense, crushing burden unless it is repealed. We already see companies not hiring to avoid having fifty employees and triggering Obamacare requirements. There is also the trend to hire only part-time workers. It is hard to pay off college loans when you don’t have a full-time job.

Needless to say these trends are devastating to the formation of families and having children. Even worse, may be the impact of Obamacare’s pricing structure. It will take some time to see how this all sorts out, but it appears that young families will have much higher premiums, very high deductibles, and co-pays on the order of 40% … for a “bronze” or lowest-quality plan. If this is true, middle-class families will be devastated as they have to cut back on necessary expenditures like child-care to pay for the insurance. Many industries like the vacation and leisure industries, for example, should take note. There won’t be any money for that stuff and other disposable goods.

This could get ugly quickly.