President Biden admitted Thursday that Democrats’ signature Inflation Reduction Act wasn’t as much about actually reducing the then-record-high inflation facing the nation as he originally touted to the American people.
“I wish I hadn’t called it that. It has less to do with inflation than it does providing alternatives to economic growth,” Biden said during an appearance at a campaign fundraiser in Pary City, Utah.
“Even when there is inflation there is a way to provide breathing room,” he added, citing negotiating medical prices as one example.
Biden’s comments are a sharp turn from what he said in July 2022 ahead of the Inflation Reduction Act’s passage through Congress on a party line vote.
“The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security,” he said.
The White House did not immediately respond to Fox News Digital’s request for comment.
At the time, as the country faced an inflation rate near the highest level in 40 years, multiple analyzes said the bill would not reduce inflation. The Congressional Budget Office said the bill will have “a negligible effect” on inflation in 2022, and in 2023 its impact would range between reducing inflation by 0.1% and increasing it by 0.1%.
My message to Congress is this:
The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security. pic.twitter.com/YtF1h7G7R5
— Joe Biden (@JoeBiden) July 28, 2022
His Inflation Reduction Act did nothing but cause everything togo up as wages are not increasing. I think before long people are going to rise up because they are hurting so bad. I have talked to many people white and blacks legal Mexicans that can’t buy gas , groceries and just necessities. They are sick of Biden and democrats. May be hell to pay if a uprising comes.
The economic jobs that was created are not high paying jobs. This is causing people to work two jobs just to survive. Seeing more and more homeless people. Rent and homes to high. STUPID PRESIDENT @ white house.
Piss on Bidens anything, Nothing but lying scum, The whole family is scum, Said he should have stayed in his basement, Now he is screwed, Wanted to be a big shot like always, Here you go Joe, Your a big shot all over the news every day
Remember when the media told us all it was to reduce inflation. Just another example of the lies we have heard since Biden took office. Are they still calling this bill a bipartisan win?