Wednesday on MSNBC’s Andrea Mitchell Reports, Sen. Elizabeth Warren (D-MA) stated that the Inflation Reduction Act is “partly about bringing down utility costs, and it’s partly about bringing down healthcare costs.” But she admitted it only does so in the long run.
Host Andrea Mitchell said, “[T]he Inflation Reduction Act, so named, doesn’t really reduce inflation. It brings the deficit down, less than one might have hoped because of Manchin and Sinema taking things out on the tax piece of it.”
Warren responded, “It absolutely brings the deficit down. And remember, if you think that the problem that causes inflation is too much money floating around in the economy, then it absolutely attacks that directly. But what it does that I think we have to remember about inflation is it attacks costs directly where families live. So, the Inflation Reduction Act is partly about bringing down utility costs, and it’s partly about bringing down healthcare costs.”
Mitchell then pointed out that both of those are “long-term” and don’t “kick in until ’25 or so.”
Warren responded, “But long-term is where, I think, everybody in America would like to see those prices come down. This is literally the first time that big pharma has lost in a battle to be able to keep raising prices forever and ever. And Democrats — again, Democrats have a real plan to bring down prices, while Republicans just stand by and scream.”
Democrats are the reason the prices and inflation surged in the first place. The only plan Democrats have for the economy is a plan to destroy it.