The idea that the Inflation Reduction Act reduces inflation is ‘something out of George Orwell’: Larry Kudlow

FOX Business host Larry Kudlow deemed the Inflation Reduction Act’s name to be Orwellian on “Hannity.”

THE MANCHIN, SCHUMER ‘INFLATION REDUCTION ACT’ IS A FRAUD

KUDLOW: The idea that it’s inflation reduction is something out of George Orwell. It’s not. By the way, the CBO came out with a preliminary scorecard, just preliminary stuff. But actually, the deficit gets worse for the next four years until it gets better after that. But, the getting better is full of gimmicks. So I don’t believe a word of it. And anybody who thinks more federal spending is not inflationary, or all these tax hikes, as you say – they’re middle class tax hikes, I agree with that – pretty much across the board tax hikes. The business tax hikes, Sean, are going to be brutal and will have a bad impact on real wages and typical family incomes. So, they’re boosting federal spending on the demand side. They’re killing the supply side because of the taxes. It’s a terrible mix. We shouldn’t be doing it. The whole bill is a monstrosity.

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