If you think public policy doesn’t really affect you or your family, take a quick glance at your retirement account – but you may want to sit down first. Those accounts have taken a beating lately because of the misguided policies emanating from Washington, D.C., and the result is a dramatic reduction in wealth for the average American family.
Public policy debates about spending, regulation, taxation and Federal Reserve policy can make people’s eyes glaze over. They’re often filled with jargon and ivory-tower talking points that are irrelevant to most Americans.
But here’s something very relevant indeed: In the first nine months of last year, the average 401(k) retirement plan lost a quarter of its value. And that’s before adjusting for inflation.
