'We're barely scraping by': Gen Z says money matters in US election

As the US presidential election approaches, young voters are becoming a focal point for both political parties. Economic issues, particularly inflation and housing costs, are at the forefront of their concerns, which could significantly influence their voting decisions. Isabella Morris, a 21-year-old mother from Rosenberg, Texas, is preparing to cast her vote for the first time. She works part-time while her husband holds a full-time job, and they live in a small one-bedroom apartment with their two-year-old son. Isabella explains, 'Our debts are paid off, but we can’t afford any mistakes. We have no savings, nothing. One job used to be enough to live on, even at a minimum wage. Now it feels like we’re barely scraping by. ' This sentiment reflects the struggles many young families face today. As the election draws near, Isabella is paying close attention to the candidates' economic policies, although she remains undecided about whom to support. She emphasizes the importance of candidates addressing the current economic crisis, stating, 'As these elections draw closer, we cannot possibly fathom a candidate not addressing the economic crisis right now. ' Young voters like Isabella, numbering around 8 million, represent about a third of the US electorate. Polls indicate that economic issues are their top priority this election season. While topics such as reproductive rights, the war in Gaza, and gun violence have garnered significant media attention, a recent Gen Forward Survey from the University of Chicago reveals that young voters aged 18 to 26 rank economic growth, income inequality, and poverty as the most pressing issues facing the nation. This marks a shift from the 2020 election, where concerns about Covid-19, racism, and healthcare took precedence over economic matters. The challenges facing young voters today are substantial, with high rents, unaffordable housing, and a sluggish job market contributing to their economic anxiety. Kyla Scanlon, a 27-year-old economics educator on TikTok, highlights that young people today are experiencing greater financial difficulties than previous generations, including millennials who entered the workforce after the 2008 financial crisis. According to TransUnion, individuals aged 22-24 currently hold more debt across various categories, including credit cards, car loans, and mortgages, than millennials did at the same age. This rising debt is outpacing their income growth, leading to a sense of hopelessness among many young people. Scanlon notes, 'There's no beginner mode anymore - the bottom rung of the ladder just feels completely gone, I think, for most of the generation. ' Experts believe that these economic fears could motivate young voters to head to the polls. Abby Kiesa, deputy director of the Center for Information and Research on Civic Learning and Engagement (Circle), anticipates that around half of young voters will participate in this election, mirroring the turnout seen in 2020, which was the highest in decades. However, this turnout remains significantly lower than that of older age groups. In 2020, 69% of eligible Americans aged 35-64 voted, while 74% of voters over 65 participated in the election. In a close election, mobilizing a substantial number of new voters could provide a crucial advantage to candidates. Kiesa emphasizes that addressing economic hardships is essential for politicians seeking to engage young voters who feel disconnected from the political process. 'For the past three elections, turnout among young voters has been historic,' she states. 'We need candidates who understand, engage, and speak with them. That’s what has to change. ' Both presidential nominees, Trump and Harris, have recently intensified their focus on economic messaging to attract young voters. Harris has built upon the Biden administration's initiatives regarding student loan forgiveness, consumer pricing, and housing affordability. She has proposed a $25,000 subsidy for first-time home buyers and a $6,000 tax credit for families with newborns. Her campaign has also expanded its youth organizing staff and invested heavily in digital advertising. Additionally, she has garnered endorsements from high-profile celebrities like Taylor Swift and Billie Eilish, leveraging viral memes about her on social media to build momentum. Harris has spent the past year visiting college campuses in key battleground states to connect with young voters. On the other hand, Trump has sought to capitalize on the economic dissatisfaction among young people by criticizing Harris and Biden's economic records while highlighting lower prices on goods during his administration. Both candidates have pledged to eliminate tip taxation, a move aimed at benefiting the service industry, which employs millions of young individuals. Trump has also committed to removing regulatory barriers on cryptocurrency and has attempted to engage younger voters through social media, podcasts, and partnerships with influencers. He has collaborated with TikTok influencers like Logan Paul and Adin Ross to reach this demographic. Polls indicate that Trump made gains among young voters during his previous campaign against Biden, who is now 81 years old. When Biden was still in the race, he led Trump by only a few percentage points, and the GenForward survey revealed that young people believed Trump managed the economy better than the Biden administration. However, recent momentum has shifted back to the younger Harris, who now holds a 31-point lead over Trump among likely voters aged 18-29, according to a Harvard Institute of Politics poll released in late September. Economic challenges are not only motivating young people to vote but also inspiring some to run for office themselves. Gabriel Sanchez, a 27-year-old Democratic candidate for the Georgia state legislature, is campaigning to alleviate the financial burdens faced by his generation. Working as a waiter at a sports bar, he has experienced the impact of rising rents, which have forced him to move multiple times. Sanchez expresses concern that basic necessities like stable housing are becoming unattainable for many young Americans. 'Most of us aren’t able to own a home, afford healthcare or buy the basic things we need,' he states in a TikTok video posted on his campaign account. In May, Sanchez and three other young candidates achieved victory in Georgia’s Democratic primary election. He believes that his economic struggles resonate with voters, stating, 'We’re working hard but not seeing any rewards. This economy isn’t working for us. We need representation - candidates who understand what young people are going through. ' However, it is not only Democrats who are attracting young candidates. Wyatt Gable, a 21-year-old in his final year at East Carolina University, won the Republican primary for North Carolina’s House of Representatives, defeating George Cleveland, an 85-year-old incumbent with ten terms in office. If elected in November, Gable will become the youngest person ever to hold a seat in the state legislature. As he prepares for the upcoming vote, he anticipates that economic issues will be top of mind for young voters. 'My generation feels it. Seeing how bad inflation is, and with interest rates skyrocketing, that's going to be the biggest thing on young people's minds when they go to the ballot box,' he explains. Young voters are ready to make their voices heard in this election, and their concerns about the economy will play a significant role in shaping the outcome.