Manchin And Dems Reach Deal On Reconciliation Package, Call It “Inflation Reduction Act”

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Assessment #1: Vance Ginn,  Ph.D., is the Chief Economist at the Texas Public Policy Foundation: “Inflation Reduction Act” will make the bad economy worse by: 1) Deepening recession with massive tax hikes that won’t collect expected tax rev 2) Raising inflation from Fed monetizing deficit spending 3) Destroying reliable energy sources …

Sen. Joe Manchin (D-WV) on Wednesday announced that he’s reached a deal with Sen. Chuck Schumer (D-NY) to advance legislation aimed at combating inflation by lowering healthcare costs and paying down the national debt.

“We must be honest about the economic reality America now faces if we want to avoid fanning the flames of inflation,” he said in a statement. “At its core, the purpose of reconciliation is to get our economic and fiscal house in order. Contrary to foolish talk otherwise, America cannot spend its way out of debt or out of inflation.”

“He takes away the understanding of the chiefs of the people of the earth, And makes them wander in a pathless wilderness.” Job 12:24

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