Seniors are struggling to handle Joe Biden's inflationary surge in costs for the staples of life, yet the administration seemingly couldn't care less. Instead of addressing the cost of living crisis, it has been moving savings from Medicare to fund radical "Green New Deal" priorities, especially subsidizing electric vehicles. Not surprisingly, when citizens are apprised of this massive transfer, they overwhelmingly disapprove.

Consider how difficult life becomes financially for so many seniors on modest fixed incomes, especially the one in seven Americans over the age of 65 who rely solely on Social Security payments to support themselves. These seniors struggle to afford the necessities of life. A 2022 Senior Citizens League survey found that 45 percent of America's elderly used charitable food banks or applied for SNAP, the program commonly known as government food stamps. That sad statistic has more than doubled since Biden took office.

When the Biden administration inserted new drug negotiation regulations into the mammoth—and badly misnamed—Inflation Reduction Act, it "saved" approximately $280 billion, mostly by compelling pharmaceutical firms to accept much lower Medicare reimbursements. But did the actual benefits of this reform flow to seniors? Did medical care improve materially, or Medicare premiums and drug costs for seniors get more affordable?

The awful truth is that almost all of the savings were used to subsidize Biden's climate alarmism, which the Democrats dishonestly buried within the health portions of the IRA legislation. Of course, in reality, subsidizing Teslas for wealthy suburbanites in California does not improve the health of retirees in Wisconsin.

According to an article in the Wall Street Journal, "Medicare will keep only about 15% of the savings for some relatively inexpensive new benefits." Much of the remaining 85 percent flows to generous $7,500 subsidies for expensive electric cars. Looking at the economics here reveals the injustice of this transfer. From the Journal column: "In 2019 half of [Medicare] enrollees earned less than $30,000 a year, and AARP reports that the average senior pays $6,500 a year in out-of-pocket health costs."

Adding insult to injury, drug plan premium prices are set to leap higher in this new year. Just before Thanksgiving, CNBC warned that "retirees may be in for a shock [in 2024]—significantly higher Medicare Part D premiums for prescription drug coverage." KFF projects a whopping 21 percent increase in these Part D prices for 2024.

But rather than eliminate or ease those burdens for seniors, Biden and the Democrats chose to subsidize wealthy electric vehicle buyers and placate a small, loud group of climate alarmists who have been issuing incorrect climate predictions for decades.

My advocacy organization, the League of American Workers, polled battleground state voters on this exact issue, and found that an overwhelming majority of Americans oppose the Biden administration's transfer and subsidy.

We used North Star Opinion Research to survey 600 likely voters in the key swing state of Georgia. This poll was split exactly evenly between 2020 voters for Trump and for Biden. Only 11 percent of respondents called this Medicare savings shift a "good idea," and 78 percent opposed it. Even among self-described Democrats, only 22 percent supported the policy.

Nationally, seniors must stretch to afford decent housing in the era of Bidenomics. According to a new study from Harvard University's Joint Center for Housing Studies, nearly one-third of senior-headed households is costs burdened, meaning their monthly housing payment exceeds 30 percent of overall income.

Georgia's senior population in particular struggles with high inflation. A majority of Georgia seniors struggle to pay monthly bills, according to the Economic Policy Institute, a left-leaning think tank. Only California and Hawaii rank worse in this regard. When asked whether Biden's policies have raised or lowered priced for seniors, 57 percent of respondents in our Georgia survey agreed Biden made life "less affordable" for seniors. Among Hispanic citizens in Georgia, only 18 percent believe Biden has made life "more affordable" for seniors.

Common-sense voters in the states that will decide the 2024 elections care about affording the staples of life right now, and not the militant climate agenda of Biden and his celebrity fanboys. Savings from Medicare reforms should flow to seniors themselves, or to paying down debt—not to Biden's radical wish list.

Steve Cortes is founder of the League of American Workers. He formerly served as senior advisor to President Trump, and a broadcaster for Fox News, CNBC, and CNN.

The views expressed in this article are the writer's own.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

QOSHE - With Electric Car Credits, Biden Picks Green New Deal Over Seniors - Steve Cortes
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With Electric Car Credits, Biden Picks Green New Deal Over Seniors

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11.01.2024

Seniors are struggling to handle Joe Biden's inflationary surge in costs for the staples of life, yet the administration seemingly couldn't care less. Instead of addressing the cost of living crisis, it has been moving savings from Medicare to fund radical "Green New Deal" priorities, especially subsidizing electric vehicles. Not surprisingly, when citizens are apprised of this massive transfer, they overwhelmingly disapprove.

Consider how difficult life becomes financially for so many seniors on modest fixed incomes, especially the one in seven Americans over the age of 65 who rely solely on Social Security payments to support themselves. These seniors struggle to afford the necessities of life. A 2022 Senior Citizens League survey found that 45 percent of America's elderly used charitable food banks or applied for SNAP, the program commonly known as government food stamps. That sad statistic has more than doubled since Biden took office.

When the Biden administration inserted new drug negotiation regulations into the mammoth—and badly misnamed—Inflation Reduction Act, it "saved" approximately $280 billion, mostly by compelling pharmaceutical firms to accept much lower Medicare reimbursements. But did the actual benefits of this reform flow........

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