Even the White House can’t explain inflation
October 18, 2022
President Joe Biden said in August that the massive Democrat spending and tax bill supported by the White House was a “Godsend” that “tackles inflation by lowering the deficit and lowering costs for regular families.”
However, when asked exactly how long until that vision of the Inflation Reduction Act comes to fruition, Biden’s White House isn’t too sure.
On Monday, a reporter asked White House Press Secretary Karine Jean-Pierre for a timeline on when Americans can start feeling some relief from historically high inflation.
“In regards to the Inflation Reduction Act, early next year they will see some of the pieces of that when you think about energy costs, when you think about the Medicare kind of benefits from that,” responded Jean-Pierre. “So, we’ll see some movement on that early next year.”
Jean-Pierre noted that gas prices have gone down since reaching record highs during the summer and touted a plan to reduce the cost of hearing aids.
One day earlier, White House economic adviser Cecilia Rouse was similarly asked during an appearance on CNN when the Inflation Reduction Act will start to bring down inflation.
“So, the — many parts of the bill will start to take effect next year,” said Rouse. “For example, there are tax credits for energy to help people weatherize their homes and also bring down other forms of energy costs. So, we are focused on helping to make that transition to clean energy in a way that brings down energy costs for families. So, this is, this is tough. There’s no question about it.”