Last Summer, Democrats scrambled to pass a bill that would “fix” America’s historically-bad inflation. Yet even socialists like Bernie Sanders admitted the bill would do nothing to address Biden’s 40-year-high inflation (but Bernie voted for it anyway). Democrats even bribed Sen. Joe Manchin into supporting this massive spending bill by promising him that pipeline he wanted.
Only to stab him in the back months later.
This “Inflation Reduction Act” will actually make inflation much worse. It ramps up government spending, while increasing taxes. It hits major industries, like oil and gas, with massive new fines. It will make things much worse. But Democrats claimed it wasn’t that bad; after all, it will only cost us $400 billion (do you have $400 billion lying around?). As it turns out, they were dead wrong.
Host Larry Kudlow asked, “[O]ne of the Wall Street firms re-priced it. It’s not costing three — or $400 billion, it’s costing $1.2 trillion, which is more inflation for a climate bill that was supposed to be an inflation reduction bill. How utterly stupid is that?”
[Rep. Byron] Donalds responded… “That bill was the Green New Deal’s little brother… the tax increases on oil production [are] going to be far more onerous and Americans are the ones who suffer.”
A new report proves that Biden’s “inflation” bill will actually cost three times more than Democrats claimed. This bill was really an environmental activist-shaped piece of legislation. It aims at “solving” climate change when in reality it will only hammer oil companies–raising the price of energy.
Even with new taxes on oil (and everything else) the bill still throws trillions at “green” technology. This technology is so bad, the companies who make it keep needing government bailouts to stay afloat. I’ve never heard of an oil company needing the government to save them from failure.
Yet this green tech is so worthless, Biden has to burn through our children’s futures to save it. Meanwhile, the price tag of this bill will cripple entire industries, hammer small businesses, and hurt every last working American.
Oh, and did we mention it will do nothing to solve inflation? In fact, it appears that it will make inflation worse as the cost of everything continues to go up. For a “moderate” like Joe Manchin to vote for this bill was criminal. Every last Democrat who supported it must be voted out of office.
- Biden’s “Inflation Reduction Act” will cost three times more than originally claimed.
- Instead of costing Americans $400 billion, it will cost as much as $1.2 trillion.
- The bill will tax oil companies, driving up prices, while throwing cash at “green” tech.