Tim Scott blasts Biden for punishing people with good credit: ‘Socialist utopia’

Sen. Tim Scott (R-SC) blasted President Joe Biden for creating a “socialist utopia.”

When asked by Fox News host Trey Gowdy about new federal rules on mortgage fees, which take effect on Monday and offer discounted rates to homebuyers with poor credit while assessing higher costs to those with good credit, Scott said it seemed like a joke.

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“It would be funny if we’re not talking about the greatest nation on Earth,” Scott said. “In Biden’s socialist utopia, if you’re able-bodied, you don’t have to work. If you commit a crime, you don’t do any time. If you take out a loan, guess what? You don’t have to pay it back. If you have bad credit, you get rewarded with lower interest rates. This utopia never has existed, but this is the path to socialism.”

“It’s exactly what it looks like, and that’s why it’s so frustrating to watch the Biden administration create rules — not new laws — but rules that change the very fabric of our country,” he added.

Scott, the ranking member of the Senate Banking Committee, said he finds hope in Congress’s ability to reverse such policies and pointed to the significance of the 2024 election.

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“Elections have consequences. It’s time to use common sense to find common ground and reverse the curse of the sum administration,” Scott said. “We have to watch what we do in 2024 as we win elections. We need common sense restored in this country, and this administration seems to not have an ounce of it.”

On Sunday, Scott signaled that he would be announcing his own 2024 presidential candidacy on May 22, telling a Charleston crowd that it was time to “take the final step.”