Today marks one year since the Inflation Reduction Act was signed into law.
Obviously the biggest problem is that inflation is up not down. In fact, it's WAY UP! It's the highest inflation we've had in 40 years!
But now Joe Biden says he regrets calling it the Inflation Reduction Act because it was really never about inflation.
Sorry guys, my bad!
We wish we were kidding. The Washington Examiner's Commentary Writer Zachary Faria writes:
President Joe Biden wants you to know that he deeply regrets manipulating the public to pass a climate bill under the guise of fighting inflation at a time when inflation was running rampant.
Biden regrets naming his big-spending climate bill the Inflation Reduction Act because 'it has less to do with reducing inflation than it does to do with dealing with providing for alternatives that generate economic growth.'
Really? THAT'S what Biden is going with?
In other words, he wants you to stop talking about how the Inflation Reduction Act ended up making inflation worse because the bill was never really about inflation in the first place.
They straight up lied, using public concern about inflation to pass their gigantic climate bill.
They're even bragging about it now.
Faria continues in the Washington Examiner:
In August 2022, inflation was the top issue on the mind of most of the country. Therefore, Biden and Democrats saw an opportunity to pass $430 billion in climate and healthcare spending by claiming it would reduce inflation, which was so clearly false at the time that even spend-happy Sen. Bernie Sanders (I-VT) admitted it would 'have a minimal impact on inflation.'
Most Republicans knew this was a phony bill of goods, but it looks like on the other side, even even Bernie Sanders knew.
AND, once again, inflation is UP.
Naomi Lim, White House Reporter, for the Washington Examiner reported:
Despite June's annual inflation rate of 3%, a decrease from last June's 9.1%, the Inflation Reduction Act has increased prices and exacerbated disinflation, or slower inflation, according to Heritage Foundation federal budget research fellow EJ Antoni.
'So the idea that the [Inflation Reduction Act] has been a smashing success because it has consistently brought down inflation, that won't be the case on Thursday,' Antoni told the Washington Examiner. 'The other thing is that inflation is still, if you're going by June's number, inflation is still more than twice what it was when Biden took office.'
'There's literally no indication that we're going to be going any lower any time soon,' Antoni added. 'I just ran the numbers again this morning, and I cannot make it come out any way other than higher than last month.'
So, Happy One-Year Birthday to the Inflation Reduction Act - another colossal lie by the Democrats that's going to cost all Americans more than they can afford at precisely the moment most can't afford much.
Republicans, the time is now, keep your promise and defund the Inflation Reduction Act.