… is from Wall Street Journal columnist Gerard Baker’s latest column, titled “‘Inflation Reduction Act’ Is an Insult to Used-Car Salesmen“:
If a bill that reduces the deficit by $300 billion over 10 years represents “inflation reduction,” what are we to make of a law Congress passed last year that increased the deficit by an estimated $1.7 trillion in less than two years?
If we are in the business of renaming legislative measures with a bill that is going to reduce inflation through deficit reduction, can we now all agree to call the American Rescue Plan of 2021—which added six times as much to the deficit in one-fifth of the time—the Inflation Acceleration Act?
