… 5.4%, that would add $1.2 trillion per year to our interest expense, which would have to be paid without us defaulting and driving interest rates even higher. You know, yes, Social Security recipients are going to get an 8.7% raise, but that only keeps them equal with what they lost because of Biden's inflation. Again, a dollar you held. Let's put it another way, $100,000 nest egg that a senior had is now only worth $88,300. That is the first. (19:37–19:46)
CLAIM
Asserts that the 8.7% raise for Social Security recipients only compensates for losses due to inflation.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
