During an interview with ABC News anchor Jonathan Karl over the weekend, White House Press Secretary Karine Jean-Pierre was questioned on if the Democrats’ so-called “Inflation Reduction Act” would actually reduce inflation. Karl specifically noted a recent analysis by the Congressional Budget Office (CBO) which said that the “Inflation Reduction Act” would have a “negligible effect on inflation” in 2022, and could even result in inflation being higher in 2023. “In calendar year 2022, enacting the bill would have a negligible effect on inflation, in CBO’s assessment. In calendar year 2023, inflation would probably be between 0.1 percentage point lower

On Friday, Democrat Congresswoman Pramila Jayapal (WA) dismissed inflation as a “theoretical word” ahead of the House Democrats’ vote to pass a massive spending bill. The $740 billion spending bill, which will raise taxes on virtually all Americans and is primarily focused on climate spending, has been ironically dubbed the “Inflation Reduction Act.” As Jayapal dismissed inflation, she also said the bill would reduce inflation. “It is ultimately going to lead to a reduction in overall inflation, but most importantly, to the budget that people have every single day,” Jayapal said. “Inflation is, like, a theoretical word that economists use,