Democrats’ economy is failing; vote them out
Democrats have been in control of the government for almost two years now. With the election nearing it is time to assess their performance. Their biggest failure has been in not combating the enormous increase in inflation. Evidence can be seen at the gas pump, at the grocery store and about everywhere else. Essentially about a month’s pay is lost each year from the higher prices caused by the inflation.
And recently Democrats passed a bill that spends billions and billions more we don’t have on things we don’t need. In what seems to be almost a deliberate taunt aimed at taxpayers they labeled it the “Inflation Reduction Act.” I heard NPR’s Mara Liasson, hardly a conservative, say the bill could appropriately be named many things but not inflation reduction.
The bill includes $80 billion of increased funding for the IRS, which is expected to significantly increase tax audits. Because of the complexity and ambiguity of the tax code that is likely to cause many more well-intentioned honest taxpayers to have to hire tax lawyers to represent them.
Now interest rates are soaring as the Federal Reserve attempts to curb the runaway inflation. The average 30-year mortgage rate has topped 6%, which is well more than twice what it was when Biden took office, locking many out of the housing market. Rents and car payments are shooting up as well as credit card debt but 401(k)s are sinking as rising interest rates impact stocks.
The Democrats have failed miserably in managing every aspect of the economy. For that alone they should be removed from office. I urge everyone to join me in voting them out.
Carl Brady, Frederick