It’s been one year since Congress set America on a disaster course by approving the so-called Inflation Reduction Act.
Not only has this bill added unfathomable sums to the national debt, but many experts would also agree that it has harmed the nation’s economy.
But Nancy Pelosi erupted into a fury after this one House Republican set the record straight.
The so-called Inflation Reduction Act is nothing short of a farce
From the moment Joe Biden took the Oath of Office, inflation began to skyrocket.
Inflation was well under 2% during Trump’s Presidency, but after just one year in office, Joe Biden managed to destroy the robust economy, which sported an eye-popping inflation rate of just under 9%.
Instead of learning from his mistakes, Joe Biden decided to instead double down on his radical tax-and-spend agenda.
Tuesday was the one-year anniversary of when Joe Biden and his cronies passed the so-called Inflation Reduction Act, which attempted to reduce inflation through massive spending projects.
Much to the chagrin of Joe Biden, many politicians and economic experts believe that this glorified spending bill did nothing to help the situation and may have made it worse.
One such politician is Jason Smith of Missouri, who published a scathing editorial on Fox News regarding the so-called Inflation Reduction Act.
“President Biden himself, in a recent, rare moment of candor, even said he wishes he had named the IRA something different since it ‘has less to do with reducing inflation,’” Smith wrote. “Nevertheless, working families are paying the price for that law while the wealthy and well-connected continue to reap its benefits. As hard-earned taxpayer dollars from the IRA go into the pockets of billion-dollar corporations and big banks, inflation continues to steal from workers’ paychecks.”
“Ironically, the President’s namesake agenda is entirely divorced from the study of economics and doubles down on its worst elements,” Smith continued. “Moreover, it disrespects American taxpayers struggling to make ends meet and provide for their families by funneling their hard-earned dollars into the pockets of the wealthy, Wall Street, large corporations, and the Chinese Communist Party.”
These powerful claims show that many Americans rightfully oppose Joe Biden’s poor economic record.
As Smith pointed out, even Joe Biden will concede that naming last year’s giant spending bill the “Inflation Reduction Act” was a major mistake.
Joe Biden has nothing to brag about when it comes to his economic record
In recent weeks, Joe Biden hit the campaign trail to tout what he calls “Bidenemoics.”
However, such touting has earned him swift criticism given his horrible economic record since taking office.
Smith correctly noted that the Joe Biden economy has been marred with high inflation, wasteful spending, and corruption.
Most Americans will tell you that they are not doing well under the Joe Biden economy.
That’s why it’s fair to say that “Bidenomics” is a total failure.
Patriot Political will keep you up-to-date on any developments to this ongoing story.