Biden Finally Admits “Inflation Reduction Act” Wasn’t Really About Inflation: “I Wish I Hadn’t of Called It That”
You know that sinking feeling you get every time you check out at the grocery store and realize your dollar doesn’t stretch as far as it used to?
The painful reminder of skyrocketing inflation is something we can’t escape.
We were all yearning for a lifeline, some kind of rescue.
Cue Joe Biden with his much-lauded “Inflation Reduction Act.”
Promised as the golden ticket to tame the roaring inflation beast, Biden confidently touted it as our economic savior.
But hold on to your wallets, folks, because guess what?
Biden just made a shocking admission that the Inflation Reduction Act wasn’t primarily designed to combat inflation after all.
That’s right; it appears the ‘Return to Normalcy’ Biden promised was more about returning to the age-old DC game of smoke and mirrors.
So, while President Trump wore his policies on his sleeve, no pretenses, no deceptions, Biden’s latest confession makes us question: what else aren’t we being told?
Biden says the Inflation Reduction Act didn’t have much to do with reducing inflation | Just The News https://t.co/q4M46pmGhR
— John Solomon (@jsolomonReports) August 11, 2023
KAMALA HARRIS: “Wages are up and inflation has fallen 12 months in a row! Think about that!”
Since Biden and Harris took office, prices are up by 16.6% and real wages are down by 3%. Think about that! pic.twitter.com/7TJTlNeUrW
— RNC Research (@RNCResearch) August 8, 2023
The American family is suffering under @JoeBiden.
Inflation is getting worse with Bidenomics with over 60% of citizens living paycheck-to-paycheck.
Families don’t deserve to hurt at the kitchen table because of Biden’s poor leadership. pic.twitter.com/fp0WSyjsBN
— Mercedes Schlapp (@mercedesschlapp) August 12, 2023
It’s alarming, isn’t it?
After selling the Act as a decisive step to reduce inflation and restore stability, Biden now implies that its primary goal was…something else.
Was the Act just a ruse?
A cleverly named distraction?
Why did Biden change his tune, and what does this mean for our already-strained wallets?
Buckle up, patriots, because we’re about to unpack the real story behind Biden’s “Inflation Reduction Act” and uncover the truths that he might not want you to know.
Fox News provides more details:
President Biden admitted Thursday that Democrats’ signature Inflation Reduction Act wasn’t as much about actually reducing the then-record-high inflation facing the nation as he originally touted to the American people.
“I wish I hadn’t called it that. It has less to do with reducing inflation than it does providing for alternatives that generate economic growth,” Biden said during an appearance at a campaign fundraiser in Park City, Utah according to the press pool report.
“And so, we’re now in a situation where if you take a look at what we’re doing in the Inflation Reduction Act, we’re literally reducing the cost of people being able to make their — meet their basic needs,” Biden said.
“Even when there is inflation there is a way to provide breathing room,” he added, citing negotiating medical prices as one example.
Biden’s comments are a sharp turn from what he said in July 2022 ahead of the Inflation Reduction Act’s passage through Congress on a party line vote.
“The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security,” he said.
Do you find yourself constantly having to stretch your dollar further and further each month?
You’re not alone.
Every trip to the grocery store feels like a game of ‘how much more is THIS going to cost me today?’
Every family gathering seems to have a new story of someone having to cut back or make sacrifices just to keep the lights on.
It’s not just a gut feeling; the numbers are in, and they’re staggering.
Imagine this: while you’re pinching pennies and struggling to provide for your family, our leaders in Washington play games with names like “Inflation Reduction Act”.
But we know the truth: inflation isn’t just a number.
It’s that extra $709 your family had to shell out this year, according to a recent analysis by Moody’s.
That’s money that could’ve gone towards a family vacation, college savings, or much-needed home repairs.
My message to Congress is this:
The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security. pic.twitter.com/YtF1h7G7R5
— Joe Biden (@JoeBiden) July 28, 2022
BIDEN: “I wish I hadn’t called it that. It has less to do with reducing inflation than it does providing for alternatives that generate economic growth.” https://t.co/2rlEEPOZ5T
— Sean Hannity (@seanhannity) August 11, 2023
For months, Biden told us “no one” was worried about inflation. Now:
Inflation is more than double what it was when he took office.
Under Biden, prices are up 16.9% and real wages are down.
The inflation rate just accelerated. pic.twitter.com/UFc2EUxjD2
— GOP (@GOP) August 10, 2023
Housing prices skyrocketing?
Grocery bills on the rise?
Car maintenance and insurance becoming a nightmare?
And let’s not even get started on the rising costs of simple pleasures, like a movie night or a cable subscription.
When top economists like Mark Zandi are raising alarms about the lasting economic scars of inflation, you have to wonder: where’s the urgency from the Biden administration?
It’s so bad even CNN has to report on it:
US inflation has had a snowballing effect on family budgets.
The typical American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics.
That figure underscores the cumulative impact high inflation has had on consumer finances — even as price growth has cooled considerably in recent months.
“High inflation of the past 2+ years has done lots of economic damage,” Mark Zandi, chief economist at Moody’s Analytics, wrote in a post on X, the platform formerly known as Twitter.
Most of that increase in spending is driven by housing costs, which have surged, Zandi told CNN in an email on Friday. He added that families are also spending more at the grocery store; on buying, maintaining and insuring vehicles and on recreational services like cable.
But beyond the numbers and the statistics lies a haunting reality: families are struggling.
Dreams are getting deferred.
The promise of a brighter, more prosperous future seems increasingly distant.
And we’re left with more questions than answers.
We were sold a lie, and now we are paying the consequences.