BNPL/
ISTOCK.COM/OLEKSTOCK
recent flirtation with the idea of a 50-year mortgage, as well as his cru- sade to eliminate taxes on tips and gratuities, reflect his keen awareness that conservatives are on the clock and must step up to boost the economic prospects of younger Americans. “Unique things have to happen to
help this generation, and to deliver for them,” he warns. The longtime conservative pollster
notes that while gas prices and some food prices have trended down signifi- cantly under Trump, much more needs to be done. “We’re making some progress,”
Towery tells Newsmax. “It’s just gotta happen faster.” Mamdani’s extraordinary victory
in New York City — he is the youngest mayor elected there since the 1800s — may be the canary in the coal mine for Republicans. Exit polls indicated that roughly three-quarters of voters under age 30 cast their ballots for the ambitious young political figure, who campaigned on affordability and expanded govern- ment funding by taxing the wealthy. Far beyond New York and through-
out the American heartland, the dou- ble whammy of a job market feeling the first rumblings of artificial intelligence, combined with spiraling costs for rent and healthcare, is putting the squeeze on young Americans set on just trying to build a life and start a family. A recent Oxford Economics report
warned rising youth unemployment and low wages “could have a long-term scarring impact,” adding: “Weak labor market prospects and rising housing costs are causing more young adults to live with their parents.” Rachel Janfaza, 28, is a Gen Z researcher who pens The Up and Up, a Substack newsletter focused on young adults. In a recent WNYC interview, Janfaza suggested Gen Zers have been shaped by growing up in an era marked by crises. She points out that they “came of
age during the pandemic, spent a good portion of their adolescent lives in
Cash-Strapped Consumers Rely on BNPL
A
few months before his tragic death, Charlie Kirk declared
that any GOP politician who doesn’t know what “BNPL” means isn’t doing their job. Once viewed by many consumers as a cheap way to attract low-end consumers, “buy now, pay later” apps have become the way cash-strapped Gen Zers put groceries on the table. Want to split a pizza purchase into
four installments? With the right BNPL app, you can. That may sound preposterously
unwise to more experienced consumers. But to some cash- strapped Gen Zers, it’s a way of life. The financial services firm
Empower reports BNPL services have ballooned to over 91 million U.S. users. Surveys indicate that about one in four users rely on it to finance groceries. Because BNPL transactions aren’t
credit card purchases, they’re less regulated. Critics say vulnerable young consumers who use them to meet everyday needs can soon find themselves mired in serious debt. Some consumer activists are
calling for more oversight of the leading BNPL apps, including Klarna, Afterpay, and Afirm. BNPL credit arrangements often
come without interest charges. But the late-fee penalties and service fees can add up fast. The BBC, for example, recently
shared the story of Abi, a 37-year-old single mom who uses BNPL apps to buy pet food, groceries, and bus passes. Her debt following various BNPL fees and charges — over $3,000. Capital One cofounder Nigel
Morris recently observed that the trend “is a pretty clear indication that a lot of people are struggling.” — D.P.
“[Gen Z ] came of age during the pandemic, spent a good portion of their adolescent lives in lockdown, and since then have been dealing with inflation and the high cost of living — and now the way that AI is remaking
the job market.” — Rachel Janfaza, researcher
lockdown, and since then have been dealing with inflation and the high cost of living — and now the way that AI is remaking the job market. “This is all just very scary and daunting,” she adds, “and they want someone who they feel is addressing these issues head-on, even if the ideas are not necessarily 100% feasible.” Janfaza and Towery predict the
support MAGA enjoyed from Gen Z voters in 2024 will quickly evaporate unless Republicans move fast to tur- bocharge the economy, lower interest rates, and make healthcare and col- lege tuition more affordable. The good news for conservatives,
analysts say: Trump’s prodigious pace of executive actions last year has set the stage for a swift, post-Biden eco- nomic rebound. But Towery cautions that unless Republicans get creative and shake up the financial status quo, they could lose control of one or both chambers of Congress in 2026. “You can’t appear to be gimmicky
with these kids who don’t have any- thing,” says Towery. “They’ve got to have an opportunity to make some money.”
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