During his latest "My Take," "Varney & Co." host Stuart Varney blasted the "clueless" Biden administration for their lackluster inaction on combating inflation, arguing the president's economic plan is "entirely political."
STUART VARNEY: This administration is clueless on inflation. It’s our most serious economic problem, and the Biden team does not know how to deal with it.
The plan, if you can call it that, is entirely political. It’s not an economic plan. It’s a series of hits on political targets: big oil, big business, and billionaires.
Or it’s ‘vote-buying,’ that is, spending trillions which they say will lower costs for working people.
What does that do for high prices right now?
And those high prices hurt the very people the Democrats say they are trying to help!
Senators Warren and Sanders are leading the charge.
It’s amazing to me that the far-left has taken such control of the entire Democrat party.
Bernie reaches back 50 years to the good old days of the 1970s – he wants price controls.
Sen. Warren wants a windfall profits tax on oil companies as if that’s going to raise energy production.
Look at this: a new high for gas today, $4.52 on average.
Diesel is $5.57 on average. It's $7 a gallon in parts of the Northeast.
This is the direct result of Biden’s war on fossil fuels and no matter what the Biden team says, the Democrat Party is run by the climate crowd.
So energy price inflation keeps churning away, raising prices throughout the economy.
It's a political disaster for the democrats. Inflation is what everyone is talking about. You can see it and feel it every day.
And the administration is clueless. It feels more and more like 1979.