On Monday, Democrat Congressman Jamie Raskin (MD) discussed the Democrats’ Inflation Reduction Act with reporters but refused to answer what about the bill would actually reduce inflation.
Raskin was boasting about the passage of the bill and saying that the sooner it was implemented, the sooner Americans would be able to feel some relief from rising prices – but when a reporter asked what in the bill would actually reduce inflation, Raskin was unable to answer and moved on to the next question.
“As soon as the act goes into effect, I hope that all of the provisions will begin to work,” Raskin said. “I’m — I know that those who have been blaming President Biden for the inflation going up are now giving President Biden all the credit for inflation going down. So we’re moving things in the right direction already.”
“And what parts of the bill do you think will put — will work on that specifically?” a reporter asked Raskin.
Raskin stumbled over his words multiple times in his answer before giving up, shaking his head and saying, “Next question.”
"What parts of the bill do you think will put to work on [lowering inflation] specifically?"
Democrat Rep. Jamie Raskin: "Next question." pic.twitter.com/88O5sWNgJP
— RNC Research (@RNCResearch) August 15, 2022
The exchange comes shortly after a group of 230 respected sent a letter to congressional leaders of both parties warning that the “Inflation Reduction Act” would actually increase inflation.
In the letter, the economists said that the “inaptly named bill” would “create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources.”
Among the 230 economists who wrote the letter were former President of the Federal Reserve Board Robert Heller, former Directors of the Office of Management and Budget Jim Miller and Robert Heller, Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, along with professors from the University of Chicago, Princeton, Duke, Columbia and Notre Dame, and others.
