Now that the Inflation Reduction Act is a done deal, everyone is gradually coming out and admitting that it’s not really going to lower inflation.
Earlier this week, when Sen. Joe Manchin was questioned about the name of the bill, even he admitted it wouldn’t “immediately” lessen the sky-high prices that are bleeding Americans dry.
Meanwhile, CBS News, various economists, and others have admitted the legislation isn’t going to have any serious impacts on lowering what Americans currently have to pay. Yet, when Republicans say this, they’re accused of spreading disinformation.
Now, one reporter with CNN claims the whole “Inflation Reduction Act” moniker was a ploy to get Manchin’s vote for the spending bill, per The Blaze.
CNN on the Inflation Reduction Act and Manchin
CNN reporter John Harwood stated what many GOP members have been warning about for weeks on end now.
According to Harwood, the impact this law will have on lowering inflation will be “negligible” at best. The CNN reporter then proceeded to state that the moniker of “Inflation Reduction Act” was for Manchin’s benefit and to keep him from opposing the legislation in the Senate.
“Let’s get real. They call it the Inflation Reduction Act as a marketing device in part to lock down the vote of Joe Manchin. To reassure Joe Manchin that they were focused on his issue.” —CNN White House Correspondent John Harwood
— The Lion says (@danmadio) August 17, 2022
To truly drive the point home, Harwood said this law won’t truly lower inflation and this isn’t even really the purpose of the law, to start with.
Finally, the CNN reporter said the true objectives of the Inflation Reduction Act are beefing up Obamacare, giving Medicare a stronger footing to negotiate its prices, and raising taxes (supposedly just on big businesses).
A Bad Situation
Manchin’s previously gone on record saying that spending more money amid an inflation disaster isn’t the right move and won’t lower costs. Yet, this didn’t stop the West Virginia Democrat from backing a spending bill in the name of lowering inflation.
Just yesterday, Manchin again stressed the danger of adding “fuel” to the fire that is now high consumer costs. Yet, this message came in conjunction with the senator reaffirming his support for the Inflation Reduction Act.
Inflation is the biggest concern I hear about from West Virginians. We cannot continue to add fuel to the inflation fire.
The Inflation Reduction Act will bring down the national deficit — and it will NOT raise taxes on families making $400,000 or less or small businesses.
— Senator Joe Manchin (@Sen_JoeManchin) August 17, 2022
Like Harwood, some Americans are suggesting that Manchin ultimately got bamboozled into backing the new spending law. Others, however, believe the West Virginia Democrat knew what this bill was really about, yet backed it anyway to cut a deal behind the scenes.
Either way, this all shakes out to be a bad situation for Americans. Whether Manchin was duped or conned into supporting the Inflation Reduction Act or not, the everyday American is still the one who ends up paying the price in the end.
Do you believe Joe Manchin was lied to in order to win his vote on the Inflation Reduction Act? Please let us know your thoughts about this development from CNN in the comments area down below.