78. Making Numbers Count: Inflation Reduction Act Raises Taxes, Adds Inflation, & Deepens Recession
Latest big news was passage of the IRA bill by Congress and signed by President Biden, which will make the weak economy weaker. Let's dive into the problems with it and what should be done instead.
Hello Friend1,
I hope you’re doing well and prospering. There’s been a lot going on with public policy, especially with Congress passing the “Inflation Reduction Act.”
I probably don’t need to tell most of you but this bill doesn’t reduce inflation. In fact, the way I’ve been describing it based on what’s in it and what economics tells us is that it will lead to higher taxes, more debt, more inflation, and a deeper recession.
