Fox's Stuart Varney: Electing a Democrat as president will lead to an economic contraction

Varney: “Don't give me this, that Obama started the recovery. Well, maybe the recovery started in the Obama years, but the expansion, that started with President Donald J. Trump.”

From the August 2 edition of Fox News' Fox & Friends:

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AINSLEY EARHARDT (CO-HOST): The president was touting the economy last night.

STUART VARNEY (FOX BUSINESS HOST): No wonder the Democrats failed to mention the strong economy in their two debates this week, because they don't have a growth plan, and obviously, President Trump does. The Democrats seem to me to have a contraction plan. No fossil fuels, no private health insurance. That's a contraction of the economy, rather than the expansion that President Trump's got.

...

EARHARDT: Stuart, you mentioned jobs reports, they're coming out this morning. What can we expect?

VARNEY: I think you'll see the unemployment rate stay around 3.7%.

EARHARDT: It's amazing.

VARNEY: Do you realize how low that is? I mean, I have lived in America for 40 odd years, I haven't seen 3.7% before. Maybe [3.6%] under Trump, I don't know, but that's near historic level.

EARHARDT: The president said 7 million Americans are off food stamps. Think about that. That's wonderful.

VARNEY: That's right. That's right. That's right. And what is it, 125,000 extra employed people in the state of Ohio?

STEVE DOOCY (CO-HOST): And the job number today is expected to be about 164,000 new jobs.

VARNEY: About that. That's still pretty strong. It might be stronger than that. But here's something that was buried by the media.

DOOCY: Shocking.

VARNEY: Right. In the first two years of the Trump presidency, wages and salaries increased 42% more than in the last two years of the Obama administration.

EARHARDT: That's great.

VARNEY: Forty-two percent more.

EARHARDT: So people can ask themselves are you better off today?

VARNEY: How about that? Yes.

EARHARDT: Are you better off today and the answer for most people is yes.

VARNEY: Well, it shows you -- it's the Trump presidency which turned the economy around. Don't give me this, that Obama started the recovery. Well, maybe the recovery started in the Obama years, but the expansion, that started with President Donald J. Trump.

Previously:

Fox Business host Stuart Varney says repealing Trump's tax cuts for the rich and corporations “would ruin the economy”

After first Democratic debate, Fox's Stuart Varney lashes out at candidates for promising to tax the wealthy: “They attacked the rich”  

Fox Business host blames stock market decline on House Speaker Pelosi's press conference