CONTACT: Matthew Faraci (202) 997-1636 | Email
CONTACT: David Pasch (202) 230-7947 | Email
FOR IMMEDIATE RELEASE
December 14, 2012

Millennials Support Reduced Spending to Avoid Fiscal Cliff

65 percent of Millennials prefer spending cuts to higher taxes

Washington, DC – (12/13/12) – As Congress and the President continue their negotiations on an agreement to avoid the so-called “fiscal cliff,” Millennials are paying close attention to the ongoing debate. Generation Opportunity, a national, non-partisan organization advocating for Millennials ages 18-29, released polling earlier in 2012 that reveals where the younger generation stands on the key issues. Elected representatives, presently stalled over the core issue of tax increases versus spending cuts to solve America’s fiscal challenges, should pay close attention to the views of this key constituency.

“Millennials are acutely aware that they are going to have to foot the bill for the decisions elected leaders are making today. Washington’s continued failure to solve the nation’s spending problems is perplexing to a generation that values genuine results over partisan finger-pointing,” said Matthew Faraci, Senior Vice President of Communications at Generation Opportunity. “Effectively, 16.4% of Millennials are unemployed today, and they understand that taxing successful Americans who create jobs is only going to further impede already lackluster job growth. Because many have been waiting for years for just one real opportunity, any policies that cause further stagnation will not receive their support.”

  • 65% of Millennials prefer reducing federal spending over raising taxes on individuals to balance the budget.
  • Only 26% prefer raising taxes on individuals to reducing federal spending to balance the budget.
  • 72% would decrease federal spending if given the opportunity to set America’s fiscal priorities.
  • 61% would decrease taxes on individuals if given the opportunity to set America’s fiscal priorities.
  • Only 30% would increase taxes.
  • Only 38% believe that today’s political leaders reflect the interests of young Americans.
  • Only 36% agree with the statement “generally speaking, things in the United States are heading in the right direction.”

For Generation Opportunity, the polling company, inc./WomanTrend conducted a nationwide online survey of 1,003 adults ages 18-29 between July 27 and July 31, 2012 with a ±3.1% margin of error. Full methodology available upon request.

Read more about the National Debt.

Follow us on Twitter @GenOpportunity.

Generation Opportunity is a national, non-partisan organization advocating for Millennials ages 18-29.

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