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Inflation Reduction Act, another DC Lie.

The Affordable Care Act, no child left behind and the U.S. Patriot Act received new competition

for the title of most inappropriately named Bill when Senate Democrats unveiled the Inflation

Reduction Act.

This bill will not only increase inflation, it will also increase government spending

and taxes.

Inflation is the act of money creation by the Federal Reserve.

High prices are one adverse effect of inflation, along with bubbles and the bursting of bubbles.

One reason the Federal Reserve increases the money supply is to keep interest rates low.

Thus enabling the Federal Government to run large deficits without incurring unmanageable

interest payments.

The so-called Inflation Reduction Act increases government spending.

For example, the bill authorizes spending hundreds of billions of dollars on energy and

fighting climate change.

Much of this is subsidies for renewable energy.

In other words, green corporate welfare.

Government programs subsidizing certain industries take resources out of the hands of investors

and entrepreneurs who allocate resources in accordance with the wants and needs of consumers

and give the resources to the government, where resources are allocated according to the

agendas of politicians and bureaucrats.

When government takes resources out of the market, it also disrupts the price system through

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