Biden’s “Inflation Reduction act of 2023” Has spent over a trillion dollars so far.

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Hmmm, spending increases inflation doesn’t it?

I had occasion to read the bill a bit this afternoon.
What a convoluted mish-mash of crap!

Seems mostly about the new clean energy initiatives, so maybe it could have been called that?

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But the bill wanders around like a drunken sailor throwing money at whatever strikes his fancy. Disadvantaged folks? Have a pile of money. Insulin? Have another pile of money. Wildlife service? here, have some big piles of green.

See also  Inflation isn’t under control—it’s accelerating. December CPI came in at 0.5% MoM, crushing expectations. Core CPI? Up 3.3% YoY.

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

https://budgetmodel.wharton.upenn.edu/estimates/2023/4/27/update-cost-climate-and-energy-inflation-reduction-act

h/t JustmeTX


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