Whatever you want to call Biden’s $739 billion tax and spend bill, just don’t call it by its real name, the Inflation Reduction Act.
Media outlets have taken to calling it other things, like the “climate and healthcare” bill or the “tax the rich” bill. Nothing in the legislation addresses inflation, it probably will make inflation worse.
In the meantime, Democrats are high-fiving over this bill as if Americans had never witnessed Congress piss away nearly a trillion dollars on progressive tax-and-spend projects before.
Don’t worry, Democrats assure us, everyone will see lower energy prices sometime in the near future. When that future occurs is open to interpretation. Reasonable guesses range from never to probably never.
With generic ballot polls tightening and Democrats now feeling a greater than 50% chance to at least hold the U.S. Senate, the time for an early “Mission Accomplished” declaration from team Biden is upon us.
The sound bites from Biden’s signing ceremony do not bode well for the um, inflation healthcare climate bill to actually do anything positive in the lives of average Americans:
“Let me say from the start, with this law, the American people won and the special interests lost,” Mr. Biden told the crowd assembled at the White House. The president had to quiet Cabinet members, members of Congress and staff in the audience at the as they continued to cheer and clap well after he took the lectern.
If Biden says something, it’s probably not true. This means, of course, that it’s exclusively special interests who win getting billions of dollars in climate change slush funds to implement green projects out the wazoo. For the American people, you get higher taxes and more government intrusion. Also, 87,000 new IRS agents. You’re welcome!
Then, there’s the inflation question.
What happened to Sen. Manchin’s backbone when he opposed legislation that might drive up inflation even further? Don’t worry about it, he says, the CBO is sometimes wrong:
Despite its name, the extent to which the bill will help lower inflation remains to be seen. A model from Penn Wharton says the bill won’t measurably affect inflation, and the Congressional Budget Office called the impact on inflation “negligible” this year before helping lower inflation in later years. Still, the White House points to a letter signed by more than 120 economists promoting the bill and insisting it will put “downward pressure on inflation by reducing the government’s budget deficit by an estimated $300 billion over the next decade.”
A reporter on Tuesday pointed out to Manchin that the CBO doesn’t think the law will do much to reduce inflation.
“They haven’t always been right, I can tell ya,” he responded.
Really? Then why did Manchin spend months rubbing his colleague’s nose in report after report from the CBO showing how previous spending bills, like “Build Back Better,” would drastically add to inflation?
This time, though, Manchin is openly trashing the CBO reports just to give his team a win on climate, healthcare, IRS audits, and nothing to do with inflation. He sold out, plain and simple.
The bottom line here is that it’s the middle of August and Democrats needed something to tout as a reason to keep them in power. The benefits Biden keeps proclaiming will never come to pass for most people.
Like most of what Biden says, it’s over-promising on something that will assuredly and definitively under-deliver for the American people.
Just days ago, before the bill was signed, Biden referred questions about what the legislation contained to God for further comment since the president couldn’t explain it:
“We’ve never done this before, but because of a number of things we got done on a bipartisan basis — like a billion, 200 million-dollar infrastructure project — like what we’re doing today, we passed yesterday, helping take care of everything from health care to God knows what else,” Biden said.
“What we’re going to do is — we’re going to see, for example, they got to put a new water line in in the community,” the president went on, speaking without a prepared script.
The real answer is that Democrats are spending money on a lot of stuff, and, apparently, only God knows what those things are because Biden surely doesn’t. It’s not going to help many people in their daily lives. It’s not going to drive down costs, it’ll probably make inflation worse.
Corporations will pay higher taxes with higher prices passed along to consumers.
More IRS agents will be auditing more people including those making under $400,000 despite earnest empty promises from Biden and friends to the contrary.
Come September, when Americans get home from vacation, will they be seeing the impact of the Biden inflation healthcare climate change act on the economy? Probably not.
In short, Biden’s spending bill is a mismanaged messaging mess of money flowing from taxpayers into special interests like green energy projects.
The American people lose every single time when progressive causes get funded by taxpayers.
For a parting thought, here’s the Commander-in-chief removing his mask, coughing into his hand, speaking openly, then shaking hands with everyone around him:
Joe Biden entered the room to sign the bill.
Took off his mask.
Coughed into his hand
Signed the bill.
Gave the pen to Manchin.
Put his mask back on.
Shook hands with everyone in the room. pic.twitter.com/s97mv1QsJ3— Greg Price (@greg_price11) August 16, 2022
It’s at least heartening to see that even the most ardent Covidians don’t take it seriously anymore.
Donate Now to Support Election Central
- Help defend independent journalism
- Directly support this website and our efforts