Penn Wharton Reassesses Crippling Impact of Inflation ‘Reduction’ Act As Inflation Grows

What difference does that make now? It passed. The Democrats’ lies have served their purpose.

We reported on the real effects of the bankrupt America bill. Contemptuously named, the Inflation Reduction act, it was, in fact, an inflation act. It was no secret but the Democrat media axis, like the man behind the circus elephant, shoveled that shit ……. down our throats.

Let’s revisit the blunder that costs more than three times the estimates. Wall Street Journal: The Inflation Reduction Act may go down as one of the greatest confidence tricks on taxpayers in history. Democrats used accounting gimmicks to claim the partisan law would reduce the budget deficit. But now a Goldman Sachs report projects its myriad green subsidies will cost $1.2 trillion—more than three times what the law’s supporters claimed. The Congressional Budget Office forecast that the IRA’s energy and climate provisions would cost $391 billion between 2022 and 2031, but this appears to be a huge under-estimate. One reason is companies are rushing to cash in on tax credits that aren’t capped. The Biden Administration is also loosely interpreting conditions for the credits

(Wall Street Journal).

RNC Research: Karine Jean-Pierre says it’s “a good thing” that Penn Wharton revised its estimated cost of the so-called “Inflation Reduction Act” from $385 billion over ten years to more than $1 TRILLION (Twitter). Senator Mike Crapo: A new analysis from Penn Wharton shows that not only does the ‘Inflation Reduction Act’ do nothing to address inflation, but the Green New Deal provisions cost almost three times more than original estimates—over $1 trillion (Twitter). Fox News: The law will allocate $369 billion toward climate and energy policies, extend the Affordable Care Act to reduce the cost of health insurance and incorporate a 15% minimum corporate tax for companies that earn more than $1 billion per year

(Fox News).

US Economy Q1 Slows Down Due to Inflation

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