Misleading Inflation Reduction Act

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Episode Transcript

Speaker 1 (00:00):
So when they keep talking about the Americans are gonna
see right away and when they go to buy a
refrigerator or an electric car, well, first of all, very
few Americans buy electric cars, very very few. It's two percent,
one and a half percent actually. Pure electric cars, which
I think are the only things that qualified this are
like one percent of cars sold in America, and half
of those are sold in California. UM, so the rest

(00:22):
of the country ain't buying them all. Secondly, unless you're
gonna go out and buy a brand new refrigerator or
something like that, you ain't gonna notice at all. And
during tough economic times, a lot of people aren't going
to do that. And the price has gone up on
everything so much. I'm not sure how much it's gonna
help you, but the whole it's gonna Americans are gonna
notice it right away. That I think, honest to God,

(00:42):
I'm not hyperbolic here. I think that might be the
biggest lie any president has ever told. Is Joe Biden
last week when when when the when it first passed
the House, and he said, oh, Americans are gonna notice
this right away, and the reduction in inflation, No they're not. No,
they are not. I like to quote from the University

(01:03):
of Pennsylvania Wharton's School of Business, and I quote the quote,
the bill's impact on inflation is expected to be statistically
indistinguishable from zero. It's the fancy talk that means, no,
it won't. There are no economs thinking point to that
are gonna say it's gonna reduce inflation and then the
whole you'll feel it right away. Oh, come on, because

(01:26):
if you buy an electric car two years from now,
you'll get a rebate if it has an American made battery,
which almost no electric cars do. I mean, there's all
kinds of reasons this is BS. Here's an idea. I'm
gonna someday, I'm gonna run for Congress. I hope I win,
and I am just going to be me in Congress.
And when I'm on a talk show like that and
they say, why did you call that the UH Inflation

(01:49):
Reduction to Act, I'll say, as a marketing ploy, people
who feel more positively about it if we called it that.
I mean, there's some stuff about money that could conceivably
have an effect in placement, but no, it's mostly to
make it sound good. And then where's the interview go
from there. Yeah, no kidding, there's some stuff about money
that could conceivably help, but we haven't found an economist
who will say that yet. Would be the rest of

(02:11):
that sentence? Um, yeah, yeah, to say what. We called
it that because during the run up to this bill
it kind of gave us cover so we could jam
it through before people called onto the fact that it
doesn't really have anything to do with inflation. But by
that point it was too late and it had passed
the Senate and the House. Hey, Jake, have you ever

(02:32):
seen a NAT pictured at NAT's ass? Now picture half
of that NAT's ass. That's how much it'll bring down inflation.
If you can find a better example of being misled
by the name of legislation, I would like you to
bring it to us because that that is an all

(02:52):
time record. It's hilarious. Like I said earlier, how far
are we willing to go with this? You name something,
get people to Mars Act and it's all about free
school lunches. I mean, what where? How far can you
go with just sure the Teaching Dogs to Read Act,
which filled pot holes in local streets. Why free speech