Varney: Sanders backs Biden into a corner on the economy

Varney: Sanders backs Biden into a corner on the economy

August 18, 2020

Varney on DNC: The far-left is running the show

FOX Business’ Stuart Varney argues this year’s Democratic National Convention shows socialists are pushing their radical platform.

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.

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