The “Inflation Reduction Act” doesn’t actually cut inflation, as CNN’s Kate Bolduan challenged an economic adviser in the Biden administration to explain. Bolduan chuckled at the response.
Cecilia Rouse, the head of the White House Council of Economic Advisors, was being questioned by Bolduan about the bill’s Tuesday signing and the official assessment that it doesn’t truly do what it promises.
“Democrats titled this bill the Inflation Reduction Act, which begs of course for voters to hold you all accountable to that. The Congressional Budget Office, you know this, but to remind viewers, the non-partisan kind of scoring organization for legislation, says that the bill would have negligible impact on inflation this year and next. Are you personally comfortable as an economist calling it the inflation reduction act?,” Bolduan remarked.
Rouse retorted, “So this bill represents really important investments we know we need to make that help to expand our economic capacity.”
Bolduan insisted, “Inflation happens when we have too much demand for the supply, and we know we need to be investing in the supply supports so we are better able as a country to address issues like inflation going forward. So this will increase our economic growth, and because of how we planned to implement it and provisions in the bill, that growth will be more equably shared.”
Rouse continued by stating that the advantages of the measure would be spread out over a number of years, but she omitted to address why it did not truly cut inflation.
When he pointed out that Biden officials kept coming out and saying they were working on inflation while it continued getting worse, Rouse received a similar scolding from another CNN presenter, Jake Tapper, in July.
On Tuesday, President Joe Biden signed a $700 billion bill that doesn’t truly reduce inflation.
