Last week White House press secretary Karine Jean-Pierre was asked how the “Inflation Reduction Act” spending bill will reduce inflation. Jean-Pierre’s answer was basically, “well duh, it’s right there in the name of the legislation!”
There’s simply no way that printing and spending hundreds of billions of dollars more is going to lower the inflation rate, and the absurdly ironic title of the legislation indicates the Dems are trying a bit too hard to make people believe that (the “Affordable Care Act” was something similar, and you know how that turned out).
However, White House economic advisers are trying to spin this to average Americans, saying the bill would help families struggling to afford gas and groceries. How? By making it a little easier to buy electric cars & solar panels via some tax credits:
WH’s @HBoushey defends their #InflationInflationAct: “Subsidies to health care through the Affordable Care Act, that will certainly help families that are struggling … And, of course, all of the energy rebates to families that are looking to make a transition to clean energy” pic.twitter.com/6iHdSUFHhg
— Tom Elliott (@tomselliott) August 1, 2022
Because the primary concern among Americans who can barely afford to buy gas and food is “if only we had a little help making our transition to clean energy!”
“Lowering costs” via subsidies causes increased economic activity— which is INFLATIONARY!
— Rich Weinstein (@phillyrich1) August 1, 2022
Free money to remove pressure from products being competitively priced is going to reduce inflation how?
— Whispers of Dementia (@mgEyesOpen) August 1, 2022
Because reasons. Plus it’s right there in the title of the legislation!
Let me see if I understand this, I can now get a rebate if i buy a $65,000 car and also if I buy $40,000 in solar panels? Wait till I tell my landlord the good news! https://t.co/4sFFnY1rCl
— Polybius Champion🐂💨 (@PolybiusChamp) August 1, 2022
It’s just that simple — or so the Democrats would like everybody to believe.