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Democrats Propose Another Inflation Reduction Act To Combat Inflation Created By First Inflation Reduction Act | Babylon Bee

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Category:  Satire

Via:  jeremy-in-nc  •  2 years ago  •  6 comments

By:   The Babylon Bee

Democrats Propose Another Inflation Reduction Act To Combat Inflation Created By First Inflation Reduction Act | Babylon Bee
With inflation and consumer prices continuing to skyrocket, Democrats in Congress have proposed a brand new Inflation Reduction Act to combat the inflation brought about by the first Inflation Reduction Act.

S E E D E D   C O N T E N T



WASHINGTON, D.C. — With inflation and consumer prices continuing to skyrocket, Democrats in Congress have proposed a brand new Inflation Reduction Act to combat the inflation brought about by the first Inflation Reduction Act.

"We are so proud of what we accomplished with the Inflation Reduction Act, but now it's time to address the runaway inflation that came about due to its passage," said Senator Chuck Schumer on the steps of the Capitol this morning. "This new bill, which we've entitled the 'Inflation From The Inflation Reduction Act Reduction Act', will solve the inflation problem. You're welcome, America!"

The gathered press reportedly threw their press badges in the air and cheered the heroism of the noble Democrat Congresspeople.

The Inflation From The Inflation Reduction Act Reduction Act will spend an additional $3 trillion, which is expected to keep the economy from collapsing until after the 2022 midterms. Sources say a third of the funds will go to Ukraine, with the rest going to solar panels in China, Congressional pay raises, and 92 million new heavily armed IRS agents.

At publishing time, Democrats are already looking to next year by drafting the Inflation From The Inflation From The Inflation Reduction Act Reduction Act Reduction Act.


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Jeremy Retired in NC
Professor Expert
1  seeder  Jeremy Retired in NC    2 years ago
The Inflation From The Inflation Reduction Act Reduction Act 

Sounds about right.

 
 
 
Ronin2
Professor Quiet
2  Ronin2    2 years ago

Stock Market took a thousand point nose dive while Brandon and the Congressional Democrats celebrated. 

Must have been pissed they weren't invited to the party.

Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.

The Dow Jones Industrial Average slid 1,276.37 points, or 3.94%, to close at 31,104.97. The S&P 500 dropped 4.32% to 3,932.69, and the Nasdaq Composite sank 5.16% to end the day at 11,633.57.

Just five stocks in the S&P 500 finished in positive territory. Tech stocks were hit particularly hard, with Facebook-parent Meta skidding 9.4% and chip giant Nvidia shedding 9.5%.

The drop erased nearly all of the recent rally for stocks, pulling the S&P 500 back toward its Sept. 6 close of 3,908 and causing some traders to glance back at mid-June, when the index fell below 3,700.

“I think we may even go back and retest the June lows,” UBS director of floor operations Art Cashin said Tuesday on CNBC’s “Squawk on the Street.”

“Certainly the 3900 is just so tempting, and you’re pulling back below the 50-day moving average here. It’s very much about the technicals. It’s not so much that the one number made the economy go topsy-turvy. It meant a lot of guys who were making preliminary favorable bets got caught off base,” he said.

The August consumer price index report showed a higher-than-expected reading for inflation. Headline inflation rose 0.1% month over month, even with falling gas prices. Core inflation rose 0.6% month over month. On a year-over-year basis, inflation was 8.3%.

Economists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation.

The report is one of the last the Fed will see ahead of their Sept. 20-21 meeting, where the central bank is expected to deliver its third consecutive 0.75 percentage point interest rate hike to tamp down inflation. The unexpectedly high August report could lead the Fed to continue its aggressive hikes longer than some investors anticipated.

So much for the left's battle cry about inflation falling. Maybe Democrats need another kick in the teeth from the Fed and reality will sink in? Seems they still have some left; and they are very slow learners.

 
 
 
Sunshine
Professor Quiet
2.1  Sunshine  replied to  Ronin2 @2    2 years ago
Stock Market took a thousand point nose dive while Brandon and the Congressional Democrats celebrated. 

Party like it's 1929.

 
 
 
Jeremy Retired in NC
Professor Expert
2.2  seeder  Jeremy Retired in NC  replied to  Ronin2 @2    2 years ago

They don't understand that their "Inflation Reduction Act" did the exact opposite of what they claimed.

 
 
 
Ronin2
Professor Quiet
2.2.1  Ronin2  replied to  Jeremy Retired in NC @2.2    2 years ago

They don't care is more like it.

They have an agenda to push through and a country to wreck and reform for their own political well being.

 
 
 
Jeremy Retired in NC
Professor Expert
2.2.2  seeder  Jeremy Retired in NC  replied to  Ronin2 @2.2.1    2 years ago

They want the country to be completely dependent on them.  What they don't realize is that this method has been tried before.  And failed every time.

 
 
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