Overwhelmed By Debt, Nearly 1 In 5 Young Adults Live With Their Parents Or GrandparentsBy Michael Snyder One of the big culprits, of course, is student loan debt. According to CNN, approximately 70 percent of all college graduates will have student loan debt to pay off once they leave school, and the average loan balance for those graduates is about $28,950. But there are many that run up $50,000 or $100,000 in debt at high-end schools. We encourage our young people to apply to the best schools that they possibly can, and we tell them that they shouldnt worry about how much it will cost. We assure them that they will be able to easily pay back any debts once they leave college because of the good jobs that they will get upon graduation. Unfortunately, millions upon millions of our young people have discovered that the good jobs that they were promised simply do not exist. We are also seeing other forms of debt rise to frightening levels in this nation. The following comes fromthe New York Times Over all, Americans use of credit cards has recently been creeping up again: Household debt in the United States increased by $35 billion, to $12.29 trillion, during the second quarter of 2016, a 0.3 percent rise from the previous quarter that was driven by credit cards and auto loans, according to a report released on Tuesday by the Federal Reserve Bank of New York. We often criticize the federal government for being 19.4 trillion dollars in debt, and rightly so, but let us not forget that U.S. households are 12.2 trillion dollars in debt. We are a society that feels entitled to everything, and we are not afraid to go into debt to get it. And unfortunately we have passed on this entitlement mentality to the next generation. In a recent blog post,Jenna Abrams did an amazing job of describing the crisis that we are facing with our young adults today. Here is an excerpt Today I asked my followers how would they describe Millennials and this is what I got: lazy, thin-skinned, spoiled, selfish, undisciplined, self-absorbed, fragile, oblivious, etc. and I can agree on this. This generation is really what you call it. But there was one description that is the most accurate. Raised by neglectful, over-compensating for inadequacy, self-serving parents. Youre in charge. You insisted your children and grandchildren have to get higher education instead of taking a blue-collar job or just entering the workforce after school like your generation did. Most of you pay for that (often unnecessary) higher education. You are overprotective and prevent your children from playing outside and making mistakes you had a chance to make to gain that thick skin. You dont let your 12-year-old kid stay at home alone because they are too young. And who is wrong when your child has a conflict at school? I bet you always blame the other side, not your special snowflake. And how you get surprised that the whole generation gets offended by facing the truth: they are not special. It must hurt, right? This generation of young adults is the most educated in our history, and yet they also appear to be one of the least competent. Just check out these numbersfrom CBS News Half of American Millennials score below the minimum standard of literacy proficiency. Only two countries scored worse by that measure: Italy (60 percent) and Spain (59 percent). The results were even worse for numeracy, with almost two-thirds of American Millennials failing to meet the minimum standard for understanding and working with numbers. That placed U.S. Millennials dead last for numeracy among the studys 22 developed countries. In the old days, our institutions of higher learning had exceedingly high standards and they demanded the best from students. Today, our system of higher education is a joke, and many of our best colleges are more focused on political correctness and safe spaces than they are on preparing our young people for the harsh realities of the real world At Brown University like Harvard, one of the eight elite Ivy League universities the New York Times reported students set up a safe space that offered calming music, cookies, Play-Doh and a video of frolicking puppies to help students cope with a discussion on how colleges should handle sexual assault. A Harvard student described in the university newspaper attending a safe space complete with massage circles that was designed to help students have open conversations. We have raised a generation of overly-coddled, self-absorbed boys and girls that have never learned how to become men and women. They dont understand how things really work, and they are completely and utterly unprepared for the exceedingly difficult times that are coming. And since our education system is completely and totally dominated by progressives, our young people have had decades of liberal propaganda pumped into their skulls, and the results are absolutely frightening. For example, one survey discovered that62 percent of Millennials say that they are liberal, and 42 percent of them say that they are socialists. A different survey discovered thatmore than half of all U.S. adults under the age of 30 say that they reject capitalism. If the coming election were to be determined by the Millennials, Hillary Clinton would win by one of the biggest landslides in U.S. history. But of course she wouldnt have even been the nominee for the Democrats, because Bernie Sanders would have crushed Clinton. If something is not done, this is what the future of America is going to look like. I dont know about you, but to me that is a rather distressing thought. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. Thus the reason for going to school. Colleges and Universities spew forth their bad breath on the unsuspecting and parents are happy. No mention of one of the main culprits: divorce! The banking cartel are slime. Thomas Jefferson I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power of money should be taken from the banks, and restored to Congress and to the people, to whom it belongs. 