Biden, Democrats Lied About “Inflation Reduction Act”

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A new report from Goldman Sachs confirms what conservatives warned all along – Democrats’ “Inflation Reduction Act” (IRA) is actually just another enormous spending bill that will blow out the deficit in service of a far-left agenda. And despite the Biden administration’s attempts to distance itself from negative headlines, the IRA and policies like it are continuing to wreak havoc on the U.S. economy, affecting everything from persistently high inflation to ongoing instabilities in the banking sector.

According to a Wall Street Journal analysis of the Goldman Sachs report, “Democrats used accounting gimmicks to claim the partisan law would reduce the budget deficit.” But now, the investment giant “projects [the IRA’s] myriad green subsidies will cost $1.2 trillion—more than three times what the law’s supporters claimed.”

The reason for this discrepancy is the Biden administration’s …

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