US economic policy divide is actually getting worse: Varney
Blue states are in deep financial trouble. Illinois, New York, California and New Jersey. They are big-government states. Very high taxes, lots of regulation. Frankly, they remind me more of Europe than America.
Well now there's a new sheriff in D.C. He's all for cutting taxes and regulations. Donald Trump is a direct challenge.
The blue states are not responding well. New York’s Gov. Cuomo is going to court. Outgoing California Gov. Jerry Brown just says "good luck baby" to his successor. But it’s the new governor of New Jersey who is leading the blue states' "resistance.”
Democrat Phil Murphy says New Jersey will be the state that leads the nation in progressive policies.
“We will resist every move from President Trump," he will make $15 an hour the minimum wage, free community college. He'll protect illegals and make them eligible for college aid.
Okay. But how will New Jersey pay for its $202 billion, unfunded pension liability for its retired government workers? No mention of that. And that is precisely the same problem which plagues other blue states: Illinois, California, Rhode Island and more.
These blue states have learned nothing. Their big government, high-tax policies have produced enormous financial problems and the response in New Jersey is to keep pushing the progressive button. It won't work.
Clearly this is a nation that is bitterly divided over many things. The economic policy divide is actually getting worse.
Bottom line: Red states win. Blue states continue to lose.