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,…
