In January of 2021, my 529 college plan had $16,800 I am setting aside for my grandkids. As Joe Biden celebrates his passage of the Inflation Reduction Act, I took a look at the grandkids’ accounts. As of today, they are collectively worth $15,100.
Now you can say that being down only $1,700 isn’t so bad, and that would be Democrat math. You see, over the past 20 months, I’ve contributed an additional $6,000. So, I’ve really lost $7,700 or nearly 35 percent of my investment.
And, we haven’t even begun to see the impact of another trillion in spending for student loan forgiveness. Yet the Dems are cheering for all they’ve accomplished. Think 1979, folks, as interest rates for homes top 10 percent and 14 percent or more for auto loans. Not to mention 24 percent credit card rates and you’ll have a stock market in the low 20,000s, inflation at historic highs and rising unemployment.
If a single Democrat, just one, can tell me how making people poor is better for those already in poverty, I’ll listen. If a single Dem can tell me how any of this is good for America, I’ll listen. And if any Democrat can give me one reason to re-elect Joe Biden, I’ll be ready to call 911 and get you to a safe room.