Kamala’s Looming Debt Disaster: Pushing America Toward Financial Ruin

During his "My Take," Tuesday, "Varney & Co." host Stuart Varney addressed our nation's national debt crisis, arguing Kamala Harris' economic plan will lead to higher taxes, slow the economy and worsen the deficit problem.

STUART VARNEY: No one wants to talk about debt. It's a turn off. 

The red ink has been a rising tide for some time. We've ignored it.

I'm talking about our government's debt. The red ink is now a tsunami which is actually likely to get worse.

In the last 10 months, the deficit totaled $1.52 trillion. In plain English, we spent $1.5 trillion more than we took in. Astonishing. 

It shouldn't be like this. When the economy is growing and unemployment is low, the red ink should be shrinking, but it’s not, its growing. 

At the end of the fiscal year, September 30th, we will have borrowed another $250 billion in just 7 weeks.

Nobody is talking about this, least of all the Harris campaign. 

They have some responsibility for the wild spending that is making things worse, and they want more.

Kamala wants "affordable health care," you know what that means, huge subsidies with taxpayer money.

She wants "affordable child care." Really? It's only "affordable" if the government pays for it. 

She's all for the Green New Deal. There goes another trillion, or three, of your taxpayer dollars.

Harris says she will announce her economic plan soon. Will she flip-flop on debt, the way she's flip-flopped on the border and fracking? 

She will take no responsibility and will claim that higher taxes will fix the deficit problem. Wrong again. 

Higher taxes will slow the economy, and we'll be borrowing even more and under no circumstances will she cut spending. Democrats don't do that.

Our debt is exploding and we are shrugging our shoulders. It won't matter until it does.

This article originally appeared on Fox Business.