By Sam Barron, Newsmax - Under the Biden administration, the average American household lost nearly $1,100 of spending power a month, Scott said... "Why? Because the Democrats spent more than $4 trillion trying to solve a problem they created," Scott said on "Rob Schmitt Tonight." Ultimately it led to 9% inflation and interest rates so high that today, the average first time home buyer is 38 years old. Having a candidate running here in New York City on socialism is as clearly misguided as their last election attempt."