The American people have been under extreme economic pressure ever since Joe Biden took office.
He promised everyone relief when he worked with Congress to pass the Inflation Reduction Act.
And now the Biden regime is in chaos after Joe Biden accidentally admitted one jaw-dropping truth about his so-called “Inflation Reduction Act.”
Trump and DeSantis both warned Americans about this
When the Inflation Reduction Act (IRA) passed a year ago, Republicans were outraged over the name and the consequences of the bill.
Many politicians said that it didn’t address the issue of inflation, and that it was written to embolden the IRS when working class Americans needed relief.
Former President Donald Trump used the law, which aimed to give $80 billion and add 80,000 jobs to the IRS, to drum up support at rallies.
He said that Democrats were “working feverishly to pile on more regulations at levels never before seen,” and that lawmakers who voted for it “sold out” their constituents.
Florida Governor Ron DeSantis also called the legislation a “middle finger” to working class Americans, and suggested that “every Member of Congress that voted for the bill should be required to be audited every year.”
The Governor has rejected funds allocated to his state under the law, and slammed “frivolous” spending by the ruling class elites.
Now, even President Biden is changing his tune on the controversial IRA.
Biden finally admits he made a mistake
Nearing the anniversary of the signing of the IRA, Biden has made a comment about the IRA that most people wouldn’t expect.
The President said that he regretted the naming of the bill, and that “it has less to do with reducing inflation than it does providing alternatives that generate economic growth.”
“I wish I hadn’t called it that,” Biden admitted at a campaign fundraiser in Park City, Utah.
He said that what they are doing with the IRA is “literally reducing the cost of people being able to make their — meet their basic needs.”
It may be hard to understand, but it seems the President recognizes it’s not working.
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
This was a major reversal from how Biden described the IRA last year.
He said that it was “the strongest bill you can pass,” as he promised it would “lower inflation, cut the deficit, reduce health care costs, tackle the climate crisis, and promote energy security.”
There was one part of that statement that might have been true.
Biden’s “Inflation Reduction Act” had “nothing to do with inflation”
At another event in Albuquerque, New Mexico, President Biden claimed that IRA was about one of his oldest “passions,” and that’s the environment.
He admitted that the IRA is the “most comprehensive environmental” legislation in history, and said that all the environmental extremism he wants to pass is “within that.”
He said that the IRA “has nothing to do with inflation; it has to do with the… single-largest investment in climate change anywhere in the world.”
President Biden said that he committed $368 billion in taxpayer funds to climate change, and added that “no one has ever spent that. And it’s beginning to take hold.”
This is a huge revelation by Biden and confirms everything conservatives were saying about the IRA last year.
The only difference now is that Joe Biden is admitting he lied to the American people.
US Political Daily will keep you updated on any developments to this ongoing story.