Stuart Varney: If Biden really wants to tackle inflation, he needs to dump the Inflation Reduction Act
Inflation pegged as major concern for most voters ahead of the 2022 midterm elections
Stuart Varney: Biden must withdraw the Inflation Reduction Act to tackle inflation
FOX Business host Stuart Varney argues Biden addressing kitchen table issues is a way for the president to 'connect with ordinary people.'
During his latest "My Take" Thursday, "Varney & Co." host Stuart Varney discusses President Biden's economic agenda as he tries to address midterm voters' concerns, arguing the president must "reverse course completely" to tackle inflation.
STUART VARNEY: The president likes to be "folksy." He wants to connect with ordinary people. Kitchen table talk can bring in the votes.
But it can also trivialize issues. The "folksy" approach can dumb down fundamental problems.
Case in point, the very important issue of inflation. To tackle it, the president is going to crack down on "junk fees."
Which he says especially hurt low-income earners and people of color.
OK... What are "junk fees?"
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Example: you deposit a check that bounces. You have to pay a fee.
You buy a plane ticket and find you are paying for extra legroom without knowing it.
Maybe you can make the case that such fees are unfair, but you can't make the case that ending them will make a serious dent in inflation.
The president wants to show that he's a man of the people, talking to real people about what's important to them. That’s politics.
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But the kitchen table junk fee conversation doesn't do much to cut inflation.
Nor does his pledge to lower prescription drug prices: that doesn't kick in till 2024.
If the president really wanted to tackle inflation, he would have to reverse course, completely.
Drill for as much oil and frack for as much nat gas as possible. And pull back on his wild spending plans.
So, to tackle inflation he has to withdraw the Inflation Reduction Act.