‘The American People Won’: Biden Celebrates ‘Inflation Reduction Act’ as Market Plummets Over August Inflation News
President Joe Biden celebrated the passage of the “Inflation Reduction Act” by hosting an event at the White House Tuesday, the same day the Bureau of Labor Statistics released a report showing inflation had continued to rise in August, causing markets to plummet.
“This bill cut costs for families. Helped reduce inflation at the kitchen table, because that’s what [people] look at — how much of their monthly bills they have to pay out for their necessities,” Biden said in a speech delivered outside the White House, thanking West Virginia Senator Joe Manchin for voting for the bill.
“This bill alone is going to lower the deficit by $300 billion over the next decades” by lowering the cost of prescription drugs subsidized by the government, he added, saying the “American people won.”
The Bureau of Labor Statistics report, released Tuesday, showed that the Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August when compared to the same month last year and increased 0.1 percent from July. (Read more from “‘The American People Won’: Biden Celebrates ‘Inflation Reduction Act’ as Market Plummets Over August Inflation News” HERE)
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