The Miraculous Inflation Reduction Act produces immediate "zero inflation" results, or why do we need it? – .

The Miraculous Inflation Reduction Act produces immediate “zero inflation” results, or why do we need it? – .

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The “zero inflation” narrative continues to develop in a generally predictable fashion following the release of the July figures. While it is true that there was no month-over-month inflation in July, there was another option to give a bigger and clearer picture of the state of the American economy.

Excluding that pesky little factoid about year-over-year inflation (8.5%!), we could all benefit from some good news. What could have contributed to this happy month without additional inflation? Wait, wasn’t there recent legislation to reduce this very thing? Why Yes, Democrats Passed the Cut Inflation Act in the Senate very recently. Perhaps this fast-acting legislation produced a complete and absolute miracle!

Either the Miraculous Inflation Reduction Act is absolutely astounding legislation, or… maybe we don’t need it at all.

The question had to be asked. Which is it? We cannot fund massive efforts to fight inflation when there is no inflation.

The Biden administration and adoring propagators of the given narrative may have to backtrack on this one. Miraculous legislation is a tough enough sell when the Inflation Reduction Act has not yet come into force. There is still time to vote no on spending $485 million in the name of reducing inflation, has the House got the memo that we have zero inflation? Confused citizens just wonder.

Editor’s note:

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