McCarthy: Biden’s Policies Have Brought Us Bank Problems, Inflation, High Interest Rates – and China’s New Axis of Power

“We’ve gained a lot of different problems” since Pres. Joe Biden took office, and his weak leadership has even made the world less safe, House Speaker Kevin McCarthy (R-Calif.) says.

Democrats’ excessive government spending leads to inflation, which drives up interest rates, imperiling banks, McCarthy explained Wednesday in an interview on Fox Business:

“The reason we have a bank problem is because the Democrats spent $5.9 trillion, brought us inflation.

“With inflation, interest rates go up, banks come into problems.”


“We’re paying more for gasoline, because of his energy policy.”

“We’ve got more Americans dying because of fentanyl, because of his open-border,” Speaker McCarthy added.

Biden’s weak leadership has also emboldened China to forge a dangerous new alliance with America’s other enemies, McCarthy warned:

“Now, we’ve got China thinking they’re able to do something with President Xi that hasn’t happened in a hundred years. They’re bringing Saudi Arabia and Iran together. He’s sitting with Russia.

“He’s now creating the new Axis of Power, something we haven’t seen since the 1930’s, with Iran, North Korea, China and Russia.

“Why? Because we’ve got a weak leader in the White House, and we’re seeing it in every aspect. When America’s not strong, the rest of the world is not safe.”


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