Varney: Sanders backs Biden into a corner on the economy

It's not the Biden-Harris ticket; it's Biden-Harris-Sanders

If you want to know what's going to happen to your money in a Joe Biden presidency, look no further than Bernie Sanders' speech last night.

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It's not the Biden-Harris ticket; it's Biden-Harris-Sanders. Bernie wrote the program. Socialists were invited to run the task forces that came up with a radical platform: on taxes, climate, health care and more, the far left is running this show. And your money is at stake.

The official 110-page manifesto is loaded with wildly expensive proposals. I don't mean to be picky, but think about replacing half a milion school buses, retrofitting 4 million buildings and 2 million homes, in five years. Those are just some of the minor details of the "net-zero" energy plan.

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Don't worry about paying for it: tax the rich, tax business and print a lot more money. That's how you do it in a socialist paradise. And that is Bernie's plan. It’s now the Biden-Harris plan, too.

In this image from video provided by BernieSanders.com, Democratic presidential candidate Sen. Bernie Sanders, I-Vt., speaks from Washington, March 17, 2020. (BernieSanders.com via AP) (Associated Press)

But wait, there's more: Bernie has pushed through two more far-reaching financial proposals: a new lending facility for minorities -- this is to "minimize racial disparities" -- and a new mandate for the Federal Reserve -- they would have to "redress racial injustice." How exactly does the Federal Reserve do that?

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The media is so obsessed with defeating the president that these kinds of things get no scrutiny. Nobody is thinking forward: what happens to an economy when you raise taxes by the trillion, kill whole industries and print even more trillions of dollars -- all when you're trying to recover from the virus global shut-down?

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At the virtual convention last night, a Republican, former Ohio Governor John Kasich, said Joe Biden would not be a far-left-winger, and he said "no one pushes Joe around." Wrong on both counts: Bernie has pushed Joe into a dead-end, socialist corner.

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Adapted from Stuart Varney's "My Take" monologue on "Varney & Co." on July 29, 2020.