In a stunning admission that raises eyebrows and questions the integrity of the Biden-Harris administration, President Joe Biden recently conceded that the so-called Inflation Reduction Act, which has done little to curb inflation and instead funneled a staggering $369 billion into “green energy” initiatives, was misnamed.
Now, after seemingly rushing to push this legislation through Congress, the truth is coming to light. The Penn Wharton Budget Model has found that this bill will only reduce inflation by a mere 0.1 percent over five years, a fact that the Congressional Budget Office corroborates. So, what exactly are we dealing with here? A scaled-down version of the failed Build Back Better Act, masquerading as a solution to our economic woes, while in reality, it is “the single most significant legislation to combat climate change in our nation’s history,” as the Biden-Harris Department of Treasury proudly proclaimed in a release last November.
Let’s break this down. The Inflation Reduction Act allows Medicare to negotiate drug prices, extends enhanced Obamacare subsidies for three years at a cost of
64 billion, and claims to reduce the deficit by $300 billion.
But hold on—this bill also increases taxes just as America teeters on the brink of recession and boosts funding for the IRS by a jaw-dropping $80 billion, making it larger than the Pentagon, State Department, FBI, and Border Patrol combined. Is this really what Americans need right now?
Financial experts are sounding the alarm on this nearly trillion-dollar boondoggle. BlackRock CEO Larry Fink pointed out in April that it’s hard to envision inflation dropping to two percent, given the reckless spending spree initiated by Biden and the Democrat-led 117th Congress.
“I think two is a hard number. We have restructured how we frame our economic policy. We have a trillion dollars of fiscal stimulus in the CHIPS Act, the Infrastructure Act, and the [Inflation Reduction Act],” Fink emphasized during an appearance on CNBC’s Squawk on the Street.
Meanwhile, the Consumer Price Index in July surged by 2.9 percent year-over-year, a clear indicator that the administration’s policies are failing.
Fox News’s Larry Kudlow, who served as the director of the National Economic Council during the Trump administration, didn’t hold back in his critique of the Inflation Reduction Act. He stated, “There is not one single iota, scintilla, whit, shred or morsel of economic growth incentives in this bill. Not a single comma, semicolon, dotted ‘i’ or crossed ‘t’ of growth. Nothing.”
So, what’s the takeaway here? The Biden-Harris administration is pushing a narrative that simply doesn’t hold water. With a name like the Inflation Reduction Act, one would expect a focus on economic stability and growth. Instead, we see a politically motivated agenda that prioritizes climate change over the pressing needs of American families. It’s time for the American people to wake up and recognize the hypocrisy and double standards at play. This isn’t just politics as usual; it’s a dangerous game that could have lasting repercussions as we head into the 2024 election.
Trump Denies “Fake News” Report on Changes to Economic Plans
by Publius
President-elect Donald Trump has refuted a Washington Post report suggesting his aides were considering a more restrained tariff policy. The report claimed that Trump’s transition team was contemplating a tariff plan that would be less extensive than his campaign promises, targeting only imports deemed critical to national or economic security….
Gold Breaks Out With Central Bank Surge and Interest Rate Drops Expected
by Sponsored Post
Precious metals are seeing gains once again following the post-election dip, just as many economists had expected. Even China, which had been holding back for five months, returned to purchasing massive quantities of gold. “Falling U.S. interest rates and ongoing solid demand from central banks are supporting the gold price,”…
JPMorgan: “Debasement Trade” Into Bitcoin and Gold Is Here to Stay
by Tyler Durden, Zero Hedge
(Zero Hedge)—The so-called “debasement trade” into gold and Bitcoin is “here to stay” as investors brace for persistent geopolitical uncertainty, according to a Jan. 3 research note by JPMorgan shared with CoinTelegraph. Gold and BTC “appear to have become more important components of investors’ portfolios structurally” as they increasingly seek to…
Hochul to Increase Payments to a Program That Serves Illegals
by Independent Sentinel
Welfare champion Gov. Kathy Hochul of New York has proposed a huge expansion of the state’s child tax credit. People here illegally can collect. New York is a one party state and Hochul runs it like a dictator. Hochul wants taxpayers to pay for an increase in the maximum credit…
More Details Emerge Regarding the Plan to Kill a Supreme Court Justice
by Zachary Stieber, The Epoch Times
(The Epoch Times)—A California man allegedly told authorities that he flew to the East Coast to kill Supreme Court Justice Brett Kavanaugh, according to newly filed court documents. Nicholas Roske flew across the country from California to Virginia on June 7, 2022, landing just before midnight. He got into a…
Kevin O’Leary Wants to Save TikTok by Buying It and Rewriting Its Algorithm
by The Blaze
“Shark Tank” investor Kevin O’Leary said that he was working on a deal to save the popular TikTok social media platform from being banned in the U.S. over privacy concerns. Republican lawmakers have banned TikTok from being used by state and federal employees after numerous reports that the platform collects…
AI Chatbots Credited With Surge in US Holiday Sales
by Valuetainment
AI-powered tools, particularly chatbots, significantly boosted online holiday sales in the US to $282 billion in 2024, a nearly 4% increase from the previous year, according to Salesforce. Globally, online sales reached $229 billion, up from $199 billion in 2023, as retailers utilized targeted promotions and personalized recommendations to attract…
Dana White Has Joined Meta’s Board of Directors
by Cactus Williams, Discern Report
UFC CEO and long-time friend of Donald Trump, Dana White, has joined Meta’s board of directors alongside Charlie Songhurst and John Elkann. This is just the latest in a series of decisions Meta has made following Trump’s historic electoral victory which seemed to be aimed at cozying up to the…
The Biggest Sale on Beef With 25-Year Shelf-Life EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for its “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
McDonald’s to Abandon Diversity ‘Goals’ in Hiring, to Stop Participating in Woke Non-Profit’s ‘Corporate Equality Index’
by The Post Millennial
Filmmaker and cultural commentator Robby Starbuck has gained another scalp in his effort to flip US corporations away from woke agendas focused on DEI, diversity, equity and inclusion. “BIG news,” Starbuck reported on X. “McDonald’s is ending a number of woke DEI policies today. Now let me tell you what’s…
