Ron Paul decries Inflation Reduction Act's impact on retirees

By Jen Krausz on
 January 5, 2023

Former Republican Senator Ron Paul said in a Breitbart News piece that the Inflation Reduction Act is hurting retirees' savings, even though nothing in the bill directly impacts retirement accounts or savings.

Paul's reasoning is that the act does the exact opposite of its name and will continue to increase inflation because of its excessive spending.

It has now been almost six months since the act was signed, and the stock market just closed out the year with its worst losses since 2008.

The average amateur investor lost 30% in 2022, and all three major indices lost between 11 and 22%.

Paul suggests buying gold instead of investing in the stock market, because "governments will never stop printing fiat currency until it is worthless."

No matter what happens with this bear market, it is bound to get uglier before it gets better, since Congress just passed another bloated spending bill for the bulk of 2023.