McCarthy: Biden's Failed Policies Led To Silicon Valley Bank Crisis

 March 15, 2023

House Speaker Kevin McCarthy is a Republican from California.

California is the state where two of the three biggest bank failures in American history have happened in recent days.

McCarthy, being closer to this situation than most of us will ever be, thinks he knows exactly why this happened: Joe Biden.

The speaker reportedly held a private call recently which included Republican from North Carolina Patrick McHenry, and McHenry let the details slip about McCarthy's position.

Reportedly, McCarthy is blaming Biden's "'failed' fiscal policies and rising interest rates" for killing America's economy. Including these banks.

Breitbart News economics editor John Carney jumped on the anti-Biden bandwagon as well, agreeing that this collapse is probably the fault of a liberal federal government. He said:

The Fed accommodated the Biden administration’s reckless fiscal policy by holding interest rates near zero even after the economy had begun to recover from the pandemic and lockdowns. Massive quantitative easing held down bond yields not just for Treasuries but for mortgage-backed securities as well.