IT WAS NEVER THE GOAL: What Happened to Reducing Inflation?

When Sen. Joe Manchin and Majority Leader Sen. Chuck Schumer revealed the legislative deal they’d negotiated in secret, they called it the “Inflation Reduction Act.” But when NBC News’ pollsters asked voters about it last week, here’s the language they used:

“Democrats recently passed legislation supported by President Joe Biden that addresses health care and prescription drug prices, climate change, taxes for corporations, and the federal budget deficit. Do you think it was a good idea or a bad idea?”

Notice what words are missing: “Inflation” and “reduction.”

It’s not just NBC. The New York Times’ coverage featured the headline, “What’s in the Climate, Tax and Health Care Package?” At NHPR it was “Biden Signs Sweeping Climate, Health Care, Tax Bill Into Law.” The Concord Monitor had a similar headline: “Biden Signs Massive Climate and Health Care Legislation.”

Inflation? Barely a mention, other than to note that independent analysts like the Congressional Budget Office and the Wharton School say the new law won’t have a significant impact.

The goal was to raid the treasury: Mission Accomplished.