Sen. Rick Scott (R-Fla.) said his upbringing in public housing shaped his belief in the American Dream, arguing that the United States remains a place where hard work and opportunity can lead to success.

Scott's American Dream

On Saturday, in a post on X, Scott reflected on his childhood and tied his personal story to the values he says define the country.

"America is freedom. America is opportunity," Scott wrote.

He added, "America is a country where a boy like me, who grew up in public housing and came from nothing, can build a life for myself."

The Florida Republican added that his own experience motivates his work in public office, saying, "That's the dream I fight to protect every day."

Scott On Inflation And Housing Costs

Earlier, Scott said federal spending and regulation are driving inflation, higher interest rates and rising home prices.

He argued that government borrowing is putting pressure on American households and increasing debt levels.

Scott also called for a balanced budget and spending cuts, saying Congress must rein in what he described as a "spending problem" to help ease inflation and improve affordability.

US Economy Growth And Stock Valuations Rise

Moody's Analytics Chief Economist Mark Zandi warned that the U.S. economy had been growing below its potential, making it vulnerable to higher unemployment, persistent inflation and a potential slowdown.

He said growth remained "tenuous," estimating second-quarter GDP at about 2%, but noted it still lagged sustainable levels despite fiscal support and ongoing resilience.

Zandi added that higher energy costs and other pressures had weakened the outlook, even as expansion continued.

Separately, investor Jeremy Grantham warned that U.S. stocks had reached record-high valuation levels, citing the Buffett Indicator at 235% of GDP.

He said the market had become the most expensive in U.S. history relative to the economy, with valuations far above levels previously seen as risky.