Biden's Regret About the Inflation Reduction Act: 'I Wish I Hadn't Called It That'

President Joe Biden finally admitted what we all knew about the Inflation Reduction Act. Hint: It wasn’t about inflation.

“I wish I hadn’t called it that. It has less to do with inflation than it does providing alternatives to economic growth,” Biden said during a campaign fundraiser in Pary City, Utah.

“Even when there is inflation there is a way to provide breathing room,” he added, citing negotiating medical prices as an example.

The Inflation Reduction Act invested over $120 million to advance the left’s clean-energy scheme. What does “global warming” have to do with inflation? This was evidence that the bill — now law — was not directed at resolving the issue of inflation.

“Communities across the country continue to face the devastating impacts of weather events made even more extreme due to climate change. The Inflation Reduction Act is a historic and transformational investment towards achieving President Biden’s ambitious goals to help American families and tackle the climate crisis,” Department of the Interior Secretary Deb Haaland announced in March 2023.

What was the White House thinking? “Let’s name a bill after inflation, but let’s include funding for everything but inflation,” Biden’s handlers probably thought. Did they think the American people wouldn’t notice what they were doing?

It’s fascinating how Biden decided to finally be honest for once. Did he get injected with truth serum or something? His comments are a stark contrast to when he called the Inflation Reduction Act “the strongest bill you can pass” in July 2022.

“The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security,” he said at the time, according to a White House transcript. “So, pass it. Pass it for the American people. Pass it for America.”

My message to Congress is this:

The Inflation Reduction Act is the strongest bill you can pass. It will lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security. pic.twitter.com/YtF1h7G7R5

— Joe Biden (@JoeBiden) July 28, 2022

In 2022, the Inflation Reduction Act was viewed skeptically by many, including the Congressional Budget Office, which said the bill would have “a negligible effect” on inflation in 2022 and 2023. The office said that by this year, the bill would either reduce inflation by less than one percent or increase it by less than one percent.

The Inflation Reduction Act was ultimately passed by the 117th Congress and signed into law by Biden. The bill was passed in the House by a vote of 220-207, and in the Senate by a vote of 51-50.

According to the U.S. inflation calculator, inflation stood at a little over three percent in July, marking a very slight increase compared to June.