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“Consider our competitors," Varney said. "China [is] paralyzed by the COVID-19 virus. Its economy is slowing dramatically. Its reputation as the workshop of the world dented. So many companies looking for a new supply chain."
Europe, too, is an economic mess, Varney maintained. It has experienced no growth at all and has negative interest rates. Drivers pay $7 to $10 for a gallon of gas since climate change policy rules all, he noted.
“The greens have just delayed Tesla’s new Berlin factory because clearing the construction site means chopping down some trees,” Varney added.
In Japan, the economy is shrinking, not because of coronavirus but as a result of its taxes, he argued. According to Varney, last year, Japan raised its version of the sales tax and the economy shrank 6 percent. Decades of stimulus spending have given them a larger debt than any other country, Varney said.
“If America elects any of the current crop of Democrats to the White House, we will no longer be the biggest and best-performing economy in the world,” Varney said.
The current Democratic field is pushing for higher taxes and massive climate regulations, neither of which is a recipe for growth, but a recipe for recession and national decline, Varney concluded.