The Democrats’ supposed ‘Inflation Reduction Act’ isn’t going to do anything to lower inflation and almost everyone knows it.
New polling has found that only 12% of Americans believe it’s going to help.
Breitbart News reports:
The Big Lie Failed: Just 12% of Americans Think the Inflation Reduction Act Will Reduce Inflation
The Democrats named their tax and spending bill the Inflation Reduction Act, but Americans are not buying it.
The law was hastily thrown together after Senator Joe Manchin (D-WV) struck a deal with Majority Leader Chuck Schumer (D-NY) to vote for a bill that would increase spending by hundreds of billions of dollars and increase taxes by even more. Although both the Congressional Budget Office and the Penn-Wharton Budget Model say the bill will do next to nothing for inflation, Democrats have been bragging that the bill is already working.
Polling from the Economist and YouGov indicates that the American public does not believe the bill will bring down inflation.
Just 12 percent of Americans say the bill will reduce inflation. Forty percent say it will increase inflation. Twenty-three percent say it will do nothing. Twenty-five percent say they are not sure what the effect would be.
The law will actually increase inflationary slightly over the next few years, according to the Penn-Wharton Budget Model. Over the next decade, its effect on inflation would be “statistically indistinguishable from zero,” according to the PWBM.
Even Democrats know it’s not going to do anything to help. Watch this:
"What parts of the bill do you think will put to work on [lowering inflation] specifically?"
Democrat Rep. Jamie Raskin: "Next question." pic.twitter.com/88O5sWNgJP
— RNC Research (@RNCResearch) August 15, 2022
How typical. They can’t even defend this monstrosity because they know it does nothing.