Commentary
An additional $700 billion in government spending tied to the Inflation Reduction Act will make inflation worse, not better.
The Inflation Reduction Act of 2022 is meant to curb inflation by laying out billions of dollars. This is contrary to economic logic, though, and even the Congressional Budget Office has said that this act will not curb inflation.
The only solution for inflation is a reduction in government cash disbursements. However, Democrats are determined to continue squandering future tax dollars. This act includes money for health care, pharmaceuticals, and climate change. One of the primary spending goals is to reduce carbon emissions by roughly 40 percent by 2030. Inflation is in no way tied to carbon emissions. If anything, increased environmental regulations will drive up prices and reduce jobs. Paying to reduce carbon emissions would just fuel more inflation….