Even the Washington Post isn't buying the Biden administration's narrative that they can solve inflation by spending more money.
Columnist Steven Pearlstein said that the Democrats' Inflation Reduction act was "no such thing," and that it is impossible to “to control employment, output, inflation — even the price of gasoline" because the economy is complex.
“Democrats in Congress are embracing the same fallacy as they ram through a package of climate, tax and health-care initiatives fancifully marketed as the ‘Inflation Reduction Act of 2022,'” he wrote.
Congress would be lucky to reduce the deficit by $25 billion, which is nothing compared to the $23 trillion economy.
The bill also includes massive new spending, so how could it possibly reduce the deficit?
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