(PatrioticPost.com)- Left-wing media outlets such as MSNBC, ABC, and CNN finally understood that the Inflation Reduction Act does not cut inflation, but only after the big spending package had already been signed into law.
According to a summary provided by Senate Democrats, the plan enacted by the Senate earlier this month and the House of Representatives last week will cost an estimated $437 billion, with $369 billion going toward investments in “Energy Security and Climate Change.”
Democrats claim that the plan will reduce the deficit by $737 billion, imposing a 15% corporate minimum tax, expected to raise $222 billion, and increasing prescription medication prices, which the Senate believes will raise $265 billion.
According to several evaluations, the Inflation Reduction Act is not projected to cut inflation. According to the Congressional Budget Office, the bill will have “no effect” on inflation in 2022, while its impact in 2023 would range between a 0.1% reduction and a 0.1% increase.
These facts were brutal to come by on many leftist media networks, with reporters and hosts either repeating the talking points of House Democrats or failing to question them on the bill’s odd name.
CNN analyst Ryan Lizza termed the Inflation Reduction Act a “huge thing” four days before it was passed, saying that its approval would make Biden an “enormously influential president” whose legislative victory would place him in the “contemporary pantheon” of great leaders.
NBC Nightly News promoted the Inflation Reduction Act as a “blockbuster billion-dollar pact” with “historic” energy investments that would put “downward pressure” on inflation less than a week before it was approved.
A day earlier, CNN Newsroom host Pamela Brown referred to Biden as “one of the most legislatively successful presidents in modern history” and spat with former Trump campaign adviser David Urban over the Inflation Reduction Act.
After President Biden signed the Inflation Reduction Act into law, liberal media suddenly began asking questions about its meager impact on inflation. Before the bill passed the Senate, only ABC’s George Stephanopoulos, CNBC’s Joe Kernen, and Poppy Harlow pressed their guests on inflation.
The House of Representatives passed the Inflation Reduction Act on Wednesday, but questions remain over whether the measure will reduce inflation. A week earlier, lefty talking heads had no such concerns about the bill, instead exciting Biden and claiming he was “on a roll” legislatively.
White House economic adviser Brian Deese failed to answer whether the legislation would positively impact inflation and instead said it was an essential step in complementing the Federal Reserve’s monetary policy.
The country, and the world, need more responsible journalism, not an agenda-driven arm of the DNC.