Aug 8, 2022 | Celebrity

WaPo Columnist Slams the Inflation Reduction Act as ‘No Such Thing’

WaPo Columnist Slams the Inflation Reduction Act as 'No Such Thing'

Washington Post columnist Steven Pearlstein torched the Democrats’ so-called “Inflation Reduction Act” as being “no such thing” because politicians cannot simply turn a dial “to control employment, output, inflation — even the price of gasoline.”

Pearlstein said the economy is a complicated organism, and any politician who claims to be able to fix the economy by adjusting a dial “just right” is doing so based on a false premise.

“Democrats in Congress are embracing the same fallacy as they ram through a package of climate, tax and health-care initiatives fancifully marketed as the ‘Inflation Reduction Act of 2022,'” he wrote:

No less specious, of course, is the Democrats’ claim that inflation will be significantly reined in by a slimmed-down tax and spending bill that closes corporate tax loopholes, extends and expands clean energy tax credits,…

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