Varney: Biden spouting nonsense on the Trump economy

'It's a false rewriting of history to gain political advantage'

Here is Joe Biden, offering 10 years' worth of economic history, wrapped into three sentences:

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"President Obama and I stopped a depression in 2009," said Biden. "We took a bad economy that was falling and turned it around. Trump took a good economy and drove it back into the ditch."

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There is so much nonsense in those three sentences. You can't dismiss it as political spin. It's a false rewriting of history to gain political advantage. Trump "took a good economy, and drove it back into the ditch." Not true.

Trump took an underperforming Obama-Biden economy and turned it into a world-beater. Tax cuts and deregulation worked. That's what gave us strong growth and the lowest unemployment rate in generations.

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What drove the economy into the ditch was, obviously, the coronavirus. Biden seems to be making the argument that just because it happened on Trump's watch, it is Trump's fault. That is simplistic in the extreme. It's an insult to our intelligence.

And what's keeping the economy down is the ongoing lockdown policy of Democratic-run states and cities. It's not Trump who has ruined New York City. It's the mayor. Please don't forget, Joe is committed to a second national lockdown, if a committee of scientists demands it.

And in the future: Who's going to drive it into another ditch? Joe Biden. You raise taxes by $3 trillion and get rid of fossil fuels, I'll show you not just a ditch, but a gaping chasm. Joe Biden's tax, regulate and green new deal economy would drive us right over the cliff.

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After Biden made his statement, he took no questions. He just walked off the stage. He's hoping that for the next 63 days, he can spout economic nonsense and remain unchallenged. I don't think he should get away with it.

Adapted from Stuart Varney's "My Take" monologue on "Varney & Co." on Sept. 1, 2020.

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