President Joe Biden on Tuesday held an event in which he proudly touted his accomplishment of passing the so-called Inflation Reduction Act. Just a day prior, the Labor Department announced that Inflation had risen 8.3% in August from a year ago.
Biden called the legislation the “single most important legislation passed in the Congress to combat Inflation and one of the most significant laws in our nation’s history.”
Multiple non-partisan analyses have concluded that the Inflation Reduction Act will have a tiny positive impact on inflation, at most, and that Biden’s canceling of student debts will undo any of that positive impact.
Even CNN had a hard time swallowing Biden’s boasts, cutting away from his speech as the Dow Jones tumbled nearly 1,300 points in the wake of the inflation news.
(YWN World Headquarters – NYC)