The idea that the Inflation Reduction Act reduces inflation is 'something out of George Orwell': Larry Kudlow

IL MANCHINO, SCHUMER ‘INFLATION REDUCTION ACTIS A FRAUD

KUDLOW: The idea that it’s inflation reduction is something out of George Orwell. Non è. A proposito, il CBO è uscito con una scorecard preliminare, just preliminary stuff. Ma veramente, the deficit gets worse for the next four years until it gets better after that. Ma, the getting better is full of gimmicks. So I don’t believe a word of it. And anybody who thinks more federal spending is not inflationary, or all these tax hikes, come dici – they’re middle class tax hikes, I agree with thatpretty much across the board tax hikes. The business tax hikes, Sean, are going to be brutal and will have a bad impact on real wages and typical family incomes. Così, they’re boosting federal spending on the demand side. They’re killing the supply side because of the taxes. It’s a terrible mix. We shouldn’t be doing it. The whole bill is a monstrosity.

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