Brady: White House Fear Mongers on Social Security While Inflation Crushes Seniors
While President Biden falsely claims credit for an automatic increase in Social Security payments, even reporters from the New York Times and the Washington Post are debunking the claim. “There’s so much disinformation and fear mongering coming out of the White House. I think everyone understands why Social Security payments went up: Because inflation is crushing so many seniors,” Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said on “The Guy Benson Show” on Fox News Radio.
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With Biden-Flation raging, the Federal Reserve announced another rate hike:
“They helped deal themselves a bad hand of cards by supporting President Biden’s government spending and giveaways. This has driven inflation to a record high and we’re nowhere near peak yet.
“Many economists think inflation won’t peak until next summer even though the President told us it would last year. They have to keep raising these rates, and I think they’ll have to go to five percent on the federal fund rate next year in the first or second quarter.
“I get the impression they’re going to get to that level and wait and see exactly what that impact is. The other worry here is that as cool as the Biden economy is, some believe that America will have to shed 6 million jobs to get inflation down to where it was before. I hope that’s not the case.”
The longer high inflation lasts, the harder a recession will be on American workers, families, and businesses.
“There’s no question, by 2022 our economy will have shrunk and in 2023 our economy will shrink further. This President took a very strong recovery in what should have been a record year in growth and just bungled it all. I’ve never honestly seen a President so quickly and thoroughly wreck an economy as Joe Biden..”
In another effort to pass the blame for higher prices, President Biden threatened oil companies with more tax hikes:
“There’s no faster way to drive prices up and make America more dependent on foreign countries and foreign oil than to do this windfall profits tax that discourages investment right here in the U.S. for production, for getting it through the pipelines and getting it back out to the community affordably. The President has bungled the energy issue so badly and people are paying crushing prices for it. This would make it worse.”
The White House is repeating their debunked zombie claim that Republicans want to cut Social Security and Medicare.
“There’s so much disinformation and fear mongering coming out of the White House. I think everyone understands why Social Security payments had to go up: Because inflation is crushing so many seniors. That doesn’t count seniors with retirement nest eggs have shrunk by almost a quarter this past year on top of the prices.
“Seniors are just getting crushed under this president. A lot of this fear mongering that Republicans are going to harm Social Security and Medicare has been fact checked as absolutely false.”
READ: Brady Responds to White House Distortions on Dems’ Medicare Cuts and GOP Tax Reform Successes