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EconomyAugust 08, 2022
'It's a special kind of stupid': Senator Kennedy drops Democrats for passing Inflation 'Reduction' Act
Senator John Kennedy of Louisiana doesn't mince words. He tells it like it is, and it's often hilarious. But we appreciate his no-nonsense style and straightforward vernacular. He doesn't hide behind legalese or highfalutin language. When he speaks, he wants you to know exactly what he means. And what he means when he talks about the recently passed Inflation "Reduction" Act is that it's stupid. (h/t RedState)
\u201cIt\u2019s a special kind of stupid to raise taxes during both a recession and inflation\u2014that\u2019s called stagflation, which is what we have right now as a result of President Biden\u2019s policies.\u201d— John Kennedy (@John Kennedy) 1659904431
"According to the nonpartisan Joint Tax Committee [...] the burden of Se. Manchin's bill will fall on everyone. [...] So, most Americans, if not all Americans, are now going to have even less money to spend as prices continue to rise. [...] It’s a special kind of stupid, in my judgment, to raise taxes during both a recession and inflation—that’s called stagflation, which is what we have right now as a result of President Biden’s policies."
I'm right there with him. Steven is right there with him. If the American people read the bill and heard what economists were saying about it, they, too, would agree with Sen. Kennedy. What Manchin has helped the Democrats do will be felt in pocketbooks nationwide.
If you or someone you know was struggling already--what with Joe Biden's recession and all--it's not about to get any easier. It will get worse. Those Americans who, in Kennedy's words have been "really getting good at barely getting by" are going to be tightening those belts even tighter.
And, look, I know we're a partisan outfit. So, you don't have to take my word for it. Even CNN is saying this!
I'm not saying we're about to be in another Great Depression, but I'm not ruling it out. Make sure you tell everyone you know who voted for Biden that this is their fault. You won't make any friends doing it, but those idiots need to know that they are the ones who voted for this.
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