Fox Business host Charles Payne fired back at President Joe Biden for squandering America’s dominance on the global stage and then pontificating about his squalid economic record during the State of the Union address.
During the March 8 edition of Making Money with Charles Payne, Payne went after Biden for claiming on Thursday he had made the American economy the “envy of the world.” However, Payne said Biden threatens America's status by pursuing policies that degrade a century of America’s dominance abroad. “[The American economy has] been the envy of the world for a long time and it will be for a long time if we don’t self-destruct. We can be on top for a while,” the Fox Business host warned. “President Biden himself is pushing an agenda that is the template for those that are envying America. Again, open borders, massive welfare, sky-high taxes.”
Payne also laid out that Biden’s record and imminent economic plans were not the cause of America’s place in the world, but a potentially fatal threat to longstanding dominance. “It will not be an accident if America slips from her perch,” he added.
Payne pointed out that to remain “the envy of the world” America should stick to the plan that brought her to that point. Payne asked his viewers to consider what things had made America the “most prosperous nation.”
Payne discussed how the American Dream provides both an opportunity for the individual and a space for massive economic growth. Payne said, “All these entrepreneurs know they can take a risk because taxes are low. Now, of course, there’s a notion of people being able to keep a big portion of what they own, even if it is billions of dollars and with that sort of impetus, you get the innovation that really is an American thing. And that’s what, by the way, is powering the stock market. We’ve talked about it day after day, the AI miracle. So there’s a freedom and excitement that comes with prosperity.”
By contrast, Biden has called for higher taxes if he wins the 2024 election. Biden’s party has also stifled innovation in much-touted legislation, loading down the CHIPS Act to produce semiconductors in the United States with politically motivated requirements.
Americans have bigger problems and Biden didn’t mention them during his State of the Union address.
Biden has presided over rampant inflation that has harmed Americans. In a Super Bowl ad and again at the State of the Union, Biden has focused on critiquing the practices of shrinking packages to hide higher prices.
The Biden administration oversaw an average of 5.7% inflation from February 2021 through January 2024, a drastically higher average than Americans experienced under former President Donald Trump. Beyond this, Americans have faced higher mortgage rates, declining real wages and higher gas prices since Biden took power.
These trends are great for curing any envy that has thus far survived the Biden Administration.
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