Hot economy a big headache for Dems in 2020: Varney
FBN's Stuart Varney on the challenges for 2020 Democratic candidates campaigning against the Trump economy.
The Democrats have one huge problem: It’s called the rip-roaring Trump economy. They don't understand it. They can't explain it. They don't want to talk about it. And when they do, they mislead. Twenty months to the election and the Democrats are struggling with prosperity. Several times President Trump has called it the best economy ever.
Maybe a little exaggeration there, but if anybody doubts how good it is, consider this: We're growing faster than any industrial democracy yet inflation is falling; mortgage rates around 4 percent, that’s historically very low; unemployment at 3.8 percent, a generational low; 7 million unfilled jobs; wages rising at the best rate in a decade. I could go on, but you get the gist! If you're a Democrat, it’s tough to argue against this. Front-runner Joe Biden doesn't even bother. He just gets it flat-out wrong. He talks of "stagnant wages!" He's actually denying the success of the Trump growth agenda. He's denying prosperity. Other front-runners, notably Bernie Sanders and Sen. Warren, argue for policies that would destroy our prosperity. Raise taxes, confiscate wealth, regulate business to death. All in the name of what they think is "fairness." We can debate fairness all day long, but don't tell me that socialism brings prosperity. It doesn't. The left has no answer to the prosperity we now enjoy. In fact, if they were in power, they'd kill it. So how do they explain our economic success? How did it happen? They don't want to go near that. Heaven forbid they have to admit that tax cuts and deregulation bring growth and jobs.
CLICK HERE TO GET THE FOX BUSINESS APP If you're a glutton for punishment and you watch CNN, you'll hear pundits claim President Obama started it. I have a big laugh-out-loud on that one. The economy is a losing issue for Democrats. They hope that Trump-hatred will pull them through in 2020. I think they are wrong. If President Trump stands up and says, “Are you better off now than you were four years ago?" the answer from most people will be yes, and Trump wins. Remember James Carville: "It’s the economy, stupid."