GOP Rep. Carlos Gimenez slams Biden for not focusing on stock market

Rep. Carlos Gimenez, R-Fla., slammed President Biden Tuesday for not focusing on the stock market as the S&P 500 falls to a new 2022 low, telling Cavuto: Coast to Coast the president is not concerned about what happens on Wall Street and not tied to the reality of how Americans are retiring.

CARLOS GIMENEZ: So many pension systems are tied to the market and individual savings are tied to the market, 401 k s, et cetera. It is the creation of wealth, so for a president to say, I don't care about the stock market, especially since the stock market lost trillions of dollars in value for real people here in the United States. I think that is kind of cold and not tied to the reality of how people retire nowadays.

It's possible to retire on Social Security and a lot of people, probably a majority of people, have other ways of saving up for retirement and the stock market is a big part of that. You should focus on the stock market. The better America does, the better the stock market does. If you focus on the stock market and not the stock market, it means you are not focused on how well America is doing.