STUART VARNEY: Oh what a difference 18 months doth make!
Right before the pandemic hit, 18 months ago, we had a terrific economy. Courtesy of Trump’s tax cuts and deregulation.
Now our economic recovery is threatened by President Biden’s lurch to the left: his complete reversal of the policies that gave us growth and prosperity!
It’s amazing! In 18 months we have done a 180!
The far left has jumped in to pressure a weak, unfocused president. They call the shots!
The socialists have the support of the media. They make a lot of noise, and they know they’ve got just one chance to transform America before they face voters next year. That’s why they demand massive tax increases on businesses and the rich. That’s why they demand the transformative Green New Deal. That’s why they won’t do anything about the border because they want to keep it open. That’s why they’re not really keen on removing the mask mandate, because they want to keep us under control, anxious and afraid.
All of this is a real threat to our economy.
The socialists won’t tell you but we’ve started a massive experiment, throwing trillions of dollars into an already expanding economy, ignoring the threat of inflation. They’re seizing wealth, ignoring the impact on growth and innovation. Insisting that our school-children become political activists.
All of this is happening because, as we have often said, the left runs this administration.
And it suggests real economic trouble to come. If they get even half what they want Trump’s successful economy will indeed be transformed. Inflation is already rising, so mortgage rates, interest rates go up. Energy prices are already rising with more to come. Your 401(k) will not do very well in a neo-socialist economy.
Eighteen months ago this was unthinkable. Now it’s not.