- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
After over a year....how is Biden's Inflation Reduction Act helping you?
Posted on 11/1/23 at 9:32 am
Posted on 11/1/23 at 9:32 am
Even Newsweek is calling bullshite on this. Hell even former Obama officials think it's total bullshite.
LINK
quote:
One Year Later, President Biden's 'Inflation Reduction Act' Is a Total Flop
One year ago today, President Biden signed the so-called "Inflation Reduction Act" into law. Today, the president will take the stage and attempt to take a victory lap over this legislative "victory." But an honest accounting reveals that the misleadingly-named Inflation Reduction Act has woefully failed at its namesake goal: reducing inflation.
The legislation mostly consisted of green energy subsidies, healthcare subsidies, tax increases, and more funding for the Internal Revenue Service. Yet the President sold it to the public as a way to bring down the crushing inflation that continues to bankrupt the American people. (The typical U.S. family spent $709 more on monthly expenses last month, July 2023, than it did in July two years ago.)
The president promised during the debate over the legislation that the Inflation Reduction Act was "the strongest bill you can pass to lower inflation, reduce costs, and tackle our climate crisis." But, while the inflation rate has dropped significantly, many economists from across the political spectrum agree that the IRA has had essentially no impact on that decline, which is almost entirely due to other factors, including the expiration of COVID stimulus spending and the Federal Reserve's changes in monetary policy.
"I can't think of any mechanism by which it would have brought down inflation to date," former Obama administration economist Jason Furman told the Associated Press.
LINK
Posted on 11/1/23 at 9:34 am to goofball
Only the economic illiterate thought this would help the citizens and not the politicians.
Posted on 11/1/23 at 9:34 am to goofball
Inflation Reduction Act was always a misnomer, but the legislation was
beneficial on balance.
beneficial on balance.
Posted on 11/1/23 at 9:35 am to goofball
Biden is not in charge. The people who installed him as President are in charge and doing this on purpose.
This post was edited on 11/1/23 at 9:36 am
Posted on 11/1/23 at 9:38 am to goofball
Signing a piece of paper that says inflation reduction act doesn’t do shite when there is no actual plan or stronghold to combat inflation.
Posted on 11/1/23 at 9:40 am to VOR
quote:
but the legislation was
beneficial on balance.
explain this (if you can) please
Posted on 11/1/23 at 9:42 am to VOR
quote:
Inflation Reduction Act was always a misnomer, but the legislation was beneficial on balance.
Posted on 11/1/23 at 9:44 am to goofball
I feel better knowing those 86,000 new IRS agents are getting proper firearm training.
Posted on 11/1/23 at 9:48 am to Gifman
Well, in response, I’d point to the infrastructure projects completed or underway. Of course the House is trying to take away some of the Act’s funding as part of the continuing political theater.
Posted on 11/1/23 at 9:48 am to VOR
quote:
but the legislation was
beneficial on balance.
"It is disastrously terrible, but it could've been worse."
The new standard.
Posted on 11/1/23 at 9:55 am to VOR
quote:
beneficial on balance.
Balanced between Joe Biden and Senate Democrats maybe.
If we want to be big spenders....we need real infrastructure improvements. Like ones that actually get mega projects off the ground. There's a sentiment in the US that we don't build anything big anymore. Hard to not be cynical about government when we can't even replace a crumbling bridge.
This post was edited on 11/1/23 at 9:57 am
Posted on 11/1/23 at 9:58 am to VOR
quote:
I’d point to the infrastructure projects completed or underway
like what?
Posted on 11/1/23 at 10:06 am to Gifman
They repaired a couple of roads and bridges but the Left believes that is real economic stimulus
Posted on 11/1/23 at 10:08 am to Gifman
Rural fiber optic installation well under way.
construction jobs holding steady and sometimes increasing.
Wages increasing.
Consumer still spending.
Jobs available.
My 401K doing very well.
On balance my household is keeping pace if not over taking inflation.
construction jobs holding steady and sometimes increasing.
Wages increasing.
Consumer still spending.
Jobs available.
My 401K doing very well.
On balance my household is keeping pace if not over taking inflation.
Posted on 11/1/23 at 10:13 am to GBPackTigers
I paid $7.35 for a kit kat.
Posted on 11/1/23 at 10:13 am to TigerTek
quote:
Rural fiber optic installation well under way.
Well underway before reduction act passed
quote:
On balance my household is keeping pace if not over taking inflation.
Imagine how much more money you would have in the bank if not for inflation
Posted on 11/1/23 at 10:14 am to TigerTek
quote:
Wages increasing.
Real wages are down pretty significantly. No where near the rate of inflation.
quote:
Consumer still spending.
Spending on credit. Over $1 trillion currently in consumer credit. Terrible sign of things to come.
Posted on 11/1/23 at 10:14 am to GBPackTigers
It’s indeed hilariously delusional. I thought I was on the OT for a sec!
Posted on 11/1/23 at 10:15 am to TigerTek
quote:
My 401K doing very well.
Have you factored in that your dollars are worth about 75% of what they were worth in January 2021? If that.
Popular
Back to top
Follow TigerDroppings for LSU Football News