Stuart Varney: Biden's dug himself into a political hole

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Varney: Biden dug himself into a political hole

FOX Business host Stuart Varney criticizes Democrats’ latest social spending and tax bill, arguing the Biden team is ‘desperately’ trying to use this to ‘save’ Biden’s presidency.

During his latest "My Take," "Varney & Co." host Stuart Varney slammed the Democratic Party for "desperately" trying to rescue Biden's presidency with the Inflation Reduction Act.

STUART VARNEY: It's coming at the president from all sides. 

He's got to deal with Russia on Brittney Griner, their hostage. 

The Chinese are rattling their rockets over Taiwan. 

Ukraine needs more support and the president is way down in the polls.

He's in a hole. And in large part, he dug that hole himself. 

And now along comes this gigantic tax-and-spend package, which the Biden team desperately hopes will rescue this presidency. Dream on. 

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The Inflation Reduction Act is the last gasp of the oldline Democrat Party.

 It is a misreading of the current political scene. It does not address the chaos at the border. 

FOX Business’ Stuart Varney discusses the Inflation Reduction Act as American consumers continue to fight through economic hardship. (Fox News)

Not at all. It does not address crime at all. 

Does anyone believe it will cut inflation? 230 economists, professors and former Fed officials say it will make inflation worse

Does anyone believe it will cut the deficit? Oh, please. 

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And the IRS, they're going to hire 87,000 new agents who they say will go after rich tax cheats. That's nonsense. They're going after small business and the middle class. 

There's nothing new here. It's same old, same old at a time when voters have new concerns that will not be solved with tax-and-spend. 

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