Sen. Bernie Sanders (I-Vt.) said the U.S. economy is collapsing for ordinary Americans while the richest 1% continue to amass unprecedented wealth and power.
Billionaires Amass Trillions While Ordinary Americans Struggle
The Vermont senator posted on X on Wednesday, sharing a Guardian article and highlighting the growing divide between America's billionaire class and working families.
"The oligarchs have never ever had it so good while tens of millions of Americans struggle to put food on the table, pay the rent and afford medical care," Sanders wrote.
The article cited examples of extreme wealth accumulation, noting that Elon Musk, Jeff Bezos, Mark Zuckerberg, and Larry Ellison together hold more than $1.3 trillion in wealth.
Musk alone reportedly became $180 billion richer after the 2020 election, while Bezos enjoys a reported 1.1% tax rate.
US Economy Collapsing For Working Families
Sanders emphasized that for most Americans, the economy is failing.
"For working families, the system is not just broken — it is collapsing," he said, pointing to skyrocketing rents, unaffordable healthcare, and insufficient retirement savings for older Americans.
Nearly 800,000 people are homeless, and more than 85 million are uninsured or underinsured.
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Lawmakers Warn Of Soaring Health Care And Living Costs Amid Trump-Era Policies
Last week, Sanders urged Congress to reverse what he called "Trump's cuts to the Affordable Care Act," warning that millions could face premium hikes of up to 75% if federal subsidies expired.
Democrats said they would not support a short-term funding bill unless Republicans agreed to extend the aid.
He highlighted rising costs in food, housing, and energy, noting spikes such as eggs up nearly 16%, coffee 14%, and beef almost 11%.
Schiff attributed the increases to tariffs, health care cuts, and energy policies, warning that premiums and housing costs would continue to climb.
Sen. Elizabeth Warren (D-Mass.) also weighed in, saying she had not had the chance to question HHS Secretary Robert F. Kennedy Jr. about proposed health insurance cuts affecting 15 million Americans.
She argued Republicans offered no credible plan for improving healthcare and called for restoring high-quality, affordable coverage.
Warren additionally blamed surging U.S. goods prices on Trump's trade and tariff policies, agreeing with Federal Reserve Chair Jerome Powell that higher tariffs were driving inflation more than broader economic pressures.
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