In a political climate already rife with uncertainty, the historic news that President Joe Biden is dropping out of the 2024 presidential race could have a major impact on everyone, but especially Gen Z. Known as climate change activists and digitally natives, this generation faces unique challenges and opportunities in a rapidly changing world.
The next person to govern the United States from the White House, whether it be Vice President Kamala Harris, another Democratic candidate, or Donald Trump, will play a key role in shaping the landscape for the next few years and beyond.
Compared with baby boomers and previous generations, Gen Z is one of the most politically active groups, with climate protests, voter registration drives and social media campaigns. Biden’s withdrawal could intensify this engagement as younger voters realize the importance of their participation in shaping the future political landscape.
This sudden shift could act as a rallying point, driving even more Gen Z voters to the polls. Here are six ways this late election upheaval could affect Gen Z.
It also shows how the economy has performed under each president.
A sudden change in policy focus
A Biden withdrawal would be unprecedented at this point in the race and could significantly shake the confidence of voters, particularly younger, more liberal-leaning Gen Z voters, whose administration has prioritized issues dear to that generation, including climate change, student loan forgiveness and health care.
The shift could create uncertainty about the future of these policies, whether Democrats nominate Kamala Harris as vice president or field a new nominee. Gen Z may need to be more vocal about the issues they care about and encourage the new nominee to adopt and expand on Biden’s work that began during the term of President Barack Obama, where Biden served as vice president.
Education Policy Changes and Student Loan Forgiveness
Education is a key issue for Gen Zers who are still in high school, college, or have recently graduated. Biden’s proposals to reduce or even forgive student loan debt have been a contentious issue. A new nominee could change these plans, potentially making college even more difficult to attend and increasing the financial burden on students.
Gen Z may need to be more vocal in advocating for education reform that meets their needs. Because this affects younger generations more than older generations who were able to pay off their student loans more easily a few years ago, Gen Z will need to take the lead on this particular political issue.
Political uncertainty is the same as economic uncertainty
Biden’s economic policies, such as raising the minimum wage and supporting small businesses, have a direct impact on young people entering the workforce.
It remains to be seen whether his withdrawal could lead to economic uncertainty that could lead to lower job prospects, wage growth, and financial stability for Gen Z. Just when everyone thought inflation couldn’t get any worse, here comes political turmoil.
The evolution of the social justice movement
Gen Z has been at the forefront of social justice movements including Black Lives Matter, Me Too, LGBTQ+ rights, and other efforts that affect you, your friends, and family.
While the Biden Administration has taken steps to address systemic inequality, Biden’s withdrawal casts uncertainty over those efforts until the party can rally around Vice President Harris or nominate a new candidate. New leadership may approach social justice issues differently, forcing Gen Z activists to adapt their strategies and continue to push for meaningful change.
Global relations and global climate change
Biden’s foreign policy has emphasized rebuilding alliances and working cooperatively to address global challenges. Biden’s departure could lead to changes in international relations, affecting issues such as climate change, trade, and security. Gen Z, who are deeply engaged in global issues through digital media, may need to reevaluate their understanding of international dynamics and advocate for policies that foster global cooperation.
Climate change affects everyone, but younger generations will long pay the costs of decisions made now, and Biden’s withdrawal raises questions about future policies.
Digital media and mainstream regulation
Gen Z’s relationship with digital media and technology is unparalleled, and political campaigns are increasingly leveraging these platforms to connect with young voters. Biden’s withdrawal may lead to a reevaluation of digital campaign strategies.
New candidates will experiment with different platforms and messaging techniques, which could impact how Gen Z consumes political content and participates in the electoral process. Technology regulation also has a hard time gauging its future impact. Laws are struggling to keep up with the pace of evolution in things like AI, and Gen Z will be on the front lines of those battles.
Civic duty and democracy for Gen Z
Ultimately, the sudden change in presidential candidates may prompt Gen Z to reflect on the strength and resilience of our democratic institutions. This generation may come to have a deeper understanding of the importance of civic duty, voting participation, and the need to protect our democratic process.
Perhaps whoever succeeds Biden will revitalize long-term efforts at active civic engagement and political participation to prepare for whatever comes next.
Jordan Rosenfeld contributed to this article.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to provide objective coverage of all aspects of the economy and balanced reporting on politically focused financial stories. More coverage on this topic can be found at GOBankingRates.com.
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