Florida Rep. Greg Steube on Monday spotlighted how President Joe Biden’s inflationary economic policies are gut-punching senior citizens.
The Sarasota Republican posted on X a clip of his recent interview with Fox Business Network, in which he railed against Biden’s robbing seniors of their retirement savings.
Steube was reacting to a report by Boston College last week that, according to FBN, indicated inflation would cause a 14% decline in the wealth of retirees between 2021, when Biden took office, and 2025, when he may leave if he loses the November election to former President Donald Trump.
Read: Achieving Retirement In Biden’s America: Surging Expectations And Widening Savings Gaps
The upshot was that retirees are having to dig deeper into their savings to cover the higher cost of food, fuel, housing and other needed commodities.
The rate of evaporating wealth could climb even higher if the economy slips into recession.
During the interview, Steube noted his district has one of the largest retiree populations in the country, and that one of every eight retirees has to go back to work to keep pace with rising costs.
America has seen “huge increases all across the board since Joe Biden has taken office -- all because of the spending that we’ve seen Democrats do.”
“It’s a huge detriment … to my district and all across the country because of the effects it’s had on their pocketbooks,” he added.
Steube also promoted a bill in Congress that would allow Americans to take cars for repairs to any mechanic who could do the work, without being beholden to the manufacturers that, citing patents on their equipment, restrict electronic data collected by the vehicle’s system.
Read: Florida Rep. Greg Steube Celebrates Fast-Tracking Of Tax-Relief Bill For Disaster Victims
FBN noted that car maintenance costs are up 40% since Biden took office.
Limiting access to such data essentially forces motorists to dealers’ shops, which tend to be significantly pricier than independent mechanics.
Steube noted that as car prices jump, including for used cars, more Americans are holding onto their cars longer and fixing them more often.
“More and more people are repairing their vehicles so they can have their vehicles last longer, and I think this just helps everyday Americans to have the ability to do that and not be forced to have to go to a dealership where the cost is much higher,” said Stuebe.
“Everything’s interrelated,” he added. “That’s why we’ve got to keep the House, flip the Senate, and bring [former President Donald] Trump back into the White House to change all the reckless spending that’s been causing this inflationary environment.”
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