Much like how no one is fooled into believing the Democratic People's Republic of Korea resembles anything close to a democracy, no one is buying that the Democrats' Inflation Reduction Act will address soaring inflation. It's so bad that Democratic lawmakers are running away from the question, and even mainstream media outlets are confronting administration officials about it.
On ABC News, Jonathan Karl pressed White House Press Secretary Karine Jean-Pierre about this deceptively named spending bill.
"Let me ask you, it's called the Inflation Reduction Act, but the Congressional Budget Act -- Office, which is nonpartisan, said that there would be a negligible impact on inflation this year and barely impact inflation at all next year. I mean, isn't it almost Orwellian -- how can you call it Inflation Reduction Act," he wondered.
"I appreciate the question," Jean-Pierre replied. "We've actually addressed this, the CBO. It was the top line number, there's more in there that shows that it will have the money from -- remember how we're doing this, too, it's making sure that billionaires in corporate America are paying their fair share, making sure that it's -- that the tax code is a little bit more fair, and so when you do that, when you put it in its totality, you will see that it will -- it will bring down -- lower the deficit, which will help fight inflation."
ABC's Jonathan Karl to Biden spokeswoman Karine Jean-Pierre:
— RNC Research (@RNCResearch) August 15, 2022
"Isn't it almost Orewellian? How can you call it the 'Inflation Reduction Act' when the nonpartisan experts say it's not going to bring inflation down?"pic.twitter.com/tmtFTdsgXx
In reality, the bill will "devastate the economy," according to The Heritage Foundation, and "may actually worsen inflation by constraining the productive capacity of the economy," the Tax Foundation's analysis shows.
