The following opinion was written and submitted by Paul Plante.
In a now world-famous TWEET on TWITTER by TWEETER-in-chief Joseph Robinette Biden, Junior, the first of his name, or any name for that matter, since Scipio Africanus, and Julius Caesar, and Pompey and even Alexander the Great never got there, to achieve the status of LEADER OF THE WORLD MAGNUS, we common folks, not only here in America, one of Joe’s many provinces that he governs, wisely it is said, but all over the world, as well, because there are a lot of common people out there like us, and like us, Joe has to show them some love, too, were informed as follows by Joe, to wit:
Joe Biden @JoeBiden
United States government official
For decades, climate deniers blocked any meaningful progress in dealing with the climate crisis, but not this year.
Thanks to the Inflation Reduction Act, we’re taking the most aggressive action to confront the climate crisis ever.
11:20 AM · Sep 1, 2022
And people, ALL of us, not only here in America, or on earth for that matter, since this is at least an inter-galactic matter, given that what we do or don’t do here on earth affects the entire universe, inextricably linked as it all is, owe Joe a debt of gratitude for clearing that up for us, because silly us, spank ourselves on our bottoms for being so silly, we actually thought the INFLATION REDUCTION ACT was about, er, well, hey, c’mon man, you know, reducing inflation.
And where would we get such a cock-a-mamie idea as that?
How about the Cape Charles Mirror thread http://www.capecharlesmirror.com/news/r … ns-desk-2/ titled “Rep. Luria Votes to Lower Costs, Combat Climate Change and Tackle Inflation, Sends Inflation Reduction Act to President Biden’s Desk” on August 21, 2022, wherein we were informed as follows, to wit:
WASHINGTON, D.C.— Last Friday, Rep. Elaine Luria (D-VA) voted to send the Inflation Reduction Act to the President’s desk and lower health care and prescription drug costs, combat climate change, tackle the root causes of inflation, and reduce the deficit.
Yessirree Bob, people, look right there and you shall see it writ large – Joe Biden’s Inflation Reduction Act was going to tackle the root causes of inflation, and reduce the deficit to combat climate change!
EXCEPT THAT IS ALL PRE-ELECTION POLITICAL BULL****, because the IRA doesn’t tackle the root causes of inflation, it is itself a root cause of inflation, it does nothing to reduce the deficit, it adds to the deficit, and it does nothing to combat climate change, because the massive environmental disruptions that are going to result from the implementation of Joe’s IRA are going to be drivers of climate change and weather disruptions!
Going back to that political propaganda concerning the Biden IRA from August 21, 2022, it continued as follows, to wit:
“Rising prices have impacted working families across the country, and the Inflation Reduction Act will put money back into the pockets of Coastal Virginians by lowering health care costs, reducing energy prices, creating jobs, and fighting inflation.”
And the jobs being created by the BORROWED MONEY (don’t get sucked into that Biden-esque horse**** that it is paid for) of Joe’s IRA are in some large part the cause of the inflation that the Federal Reserve is now trying desperately to contain with interest rate hikes, while Joe’s IRA creates more and more of it to the detriment of our NATIONAL SECURITY and ECONOMY!
So as Joe’s IRA continues to pump more and more money into the economy to grow it, the Federal Reserve is working as hard as it can to bring that same economy into a recession, and if that isn’t a definition of INSANITY in action, there never will be one!
Going back to the political propaganda from August 21, 2022, it continues, as follows:
“The Inflation Reduction Act will also combat climate change and invest in American energy to end our dependence on foreign energy sources like Russia and China,” Rep. Luria said.
End our dependence on foreign energy sources like China?
We don’t depend on China as an energy source.
To the contrary, we are exporting energy to China, which is not reducing, but increasing our energy costs, which increases inflation – not reduces it, as we see in this Rigzone article titled “Increasing US Oil Exports Push Prices Higher” by Bloomberg/Immanual John Milton and Julia Fanzeres on March 01, 2023, to wit:
Oil finished a tumultuous session higher with record US exports slowing inventory builds, igniting crude market bulls even as persistent fears of higher interest rates dragged Wall Street lower.
West Texas Intermediate settled at its highest in nine sessions, with the Energy Information Administration reporting that exports jumped 23%, slowing recent inventory builds.
Encouraging data out of China further supported the bulls’ thesis that global demand was on the mend and could support oil markets even amid concerns the US was headed for economic contraction.
“[EIA data] could be an indication that Asian demand, Chinese demand for oil could be returning,” said Rob Thummel, a portfolio manager at Tortoise Capital Advisors.
Going back to the propaganda, because that propaganda sets the stage for where we have to go to next to further demonstrate the SHEER INSANITY of this so-called Inflation Reduction Act, it concludes as follows, and here, with that in the record, I will pause for the moment, to wit:
“The Inflation Reduction Act delivers for Coastal Virginians in the short-term while making long-term investments to reduce the deficit and build a better future for generations of Americans.”
According to 126 leading economists—including seven Nobel Prize winners, three former chairs of the Council of Economic Advisers, two former Treasury Secretaries— the Inflation Reduction Act “will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth.”
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The legislation also represents the largest single federal investment to combat climate change and promote energy security through growing our domestic energy production and ending our reliance on foreign sources.
The Inflation Reduction Act is fully paid for and will not add to the national debt or raise taxes on working families, and will reduce the deficit by more than $100 billion over the next decade.