The fraud of the Inflation Reduction Act

The current bout of inflation stems from the massive spending in 2020, 2021, and now 2022, where government spent the equivalent of 27% of GDP on “Covid Relief.”

This spending was largely paid for by money created out of thin air by the Federal Reserve. Where's that audit?

America needs leaders who will acknowledge and react responsibly to the real dangers of inflation and reckless spending. Callously creating inflation to get pet projects (climate change, etc.) through Congress shows disdain to those who are hurt by inflation the most and least able to afford it.

With inflation roaring at 9.1% and negative economic growth for the past two quarters (yes, a recession), the Democrats have now additionally secured massive increases in taxes and spending that will further negatively impact not just the rich, but the middle class and poor, as multiple studies have proven.

Here are five facts that are being ignored and/or lied about regarding this "inflation reduction" bill:

1) This bill will not reduce inflation, and instead will likely increase it.2) This bill will not help the environment.3) This bill will increase tax burdens and slow economic growth.4) This bill will reduce innovation in life saving drugs.5) This bill will supersize the IRS, leading to a massive assault on the middle class and Democrats shot down the only opportunity to ensure that didn't happen.

Hopefully Americans are not hoodwinked by false promises, as we all suffer because of the disastrous policies of the left.

Chris Dooley is a resident of Dallas.

This article originally appeared on The Gaston Gazette: The fraud of the Inflation Reduction Act