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.
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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.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
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Is Kamala Harris’ Media Blitz Exposing Her Economic Flaws?
by Liberty Nation
Vice President Kamala Harris has been under scrutiny for her campaign rhetoric since she was handed the Democratic nomination ahead of the November election. While the mainstream media has called out her penchant for missing the mark, the examples are few and far between. The Fourth Estate’s failure to push…
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New Poll Shows National Debt Concerning for Swing State Voters
by Just The News
A new poll of battleground states shows the $35 trillion rising national debt is a critical issue for voters. The swing state poll shows that nine out of 10 voters want candidates to have a plan for the rising national debt. This includes 95% of those voting for Democratic Vice…
“Line All Those Guys Up and Shoot Them”: Professor Says Men Who Don’t Support Female Candidates Should Be Massacred
by Daily Caller
(Jaryn Crouson, DCNF)—A professor at the University of Kansas (UK) told a class that men who would not vote for a female president should be lined up and shot, according to a video posted on X Wednesday. The university confirmed the professor is employed at UK and made the comment…
Democrats Insist That Transgender “Medicine” Is Essential to Military Recruitment
by Tyler O’Neil, Daily Signal
(The Daily Signal)—Several Democrats running in tight races for the U.S. House and Senate joined a larger group of Democrats in signing a letter urging Congress not to defund a measure providing experimental transgender medical interventions that’s included in a bill to fund the U.S. military. The vast majority of…
Whistleblower Warns That the Secret Service Is Trying to Hide Its “Negligence, Sloppiness, and Gross Incompetence” When Protecting Trump
by Bob Unruh, WND
(WND News Center)—There’s been a lot of open speculation about how effective the U.S. Secret Service, under the Joe Biden-Kamala Harris administration, has been in protecting President Donald Trump, who held that office from 2017-2021 and once again is a candidate. After all, that administration is the same administration that…
Three-Quarters of Americans Surveyed Can’t Pay Their Bills
by The New American
Lending Tree, the online lending marketplace, asked 2,040 American consumers in early September how they were doing. Seventy-six percent of them said that Bidenflation has made it more difficult than ever to pay their bills. Half of them said they have had to pay certain bills late in the last…
America Can’t Afford Four More Years of Governance by ‘Luxury Beliefs’
by Human Events
This Monday was the one-year anniversary of the October 7 massacre, an event which will rightly live in infamy. This is not simply because it remains the most vicious assault on Jews since the Holocaust, but rather because – sadly – it amounts to merely the prologue to a year…
New ‘Transparency’ Act Forces Small Businesses to Register Personal Data With Federal Law Enforcement
by The Federalist
The Corporate Transparency Act (CTA) is an aggressive domestic program to federally register millions of unsuspecting small business owners under the guise of an “anti-money laundering initiative.” By the end of this year, Americans will be required to hand over their small businesses’ private data — such as owners’ names…
New Research Shows America Isn’t Headed for a Recession… It’s Been in One Since 2022 and the Government Has Been Fudging the Numbers to Hide It
by Andrew Moran
(The Epoch Times)—New research by a pair of prominent economists suggests that the U.S. economy has been in a recession for the last two years after inflation adjustments are taken into account. According to Bureau of Labor Statistics data, cumulative inflation since 2019 has totaled nearly 25 percent. But inflation…
Survey Reveals Small Businesses Are More Uncertain Than Ever
by Casey Harper
(The Center Square)–American small business uncertainty hit an all-time high and optimism remains low just weeks before Election Day, according to the latest survey. The National Federation of Independent businesses on Monday released the survey, which showed small business uncertainty rose last month to the highest level ever recorded by…
