The bill isn’t going to remake Biden’s foundering presidency, but it will make Democratic activists feel a little better. Per an analysis produced by the Penn Wharton Budget Model, the impact on inflation is “statistically indistinguishable from zero.”Īs NR’s editorial notes, “Voters want to see inflation actually come down, not their member of Congress vote for the words ‘inflation reduction.’” Rich Lowry calls the bill a “ non sequitur,” meeting the challenge of inflation with new spending and the threat of recession with new taxes. But even if it passes, it’s unlikely to do much about the thing that’s in the title of the bill. The Inflation Reduction Act appears to be moving forward after the pivotal Senator Kyrsten Sinema signed on. Add to that a pro-choice victory in Kansas this week.īut a “ winning streak,” as Axios’s Mike Allen terms it, seems charitable given (a) economic conditions that are of far greater concern to voters and (b) the devilish details of the “wins” themselves. So the president is having a good stretch. And now, he’s overseen the Zawahiri strike. He got a superconductor chips bill through Congress, and Joe Manchin came around on a smaller version of Build Back Better, as long as it was called the “Inflation Reduction Act.” There are some signs that the Democratic enthusiasm for the midterms is picking up a bit and that Republican Senate candidates are underperforming in some key states. Shocking as this may seem to some people, Biden really is having a good stretch, particularly compared to the rest of this year’s cavalcade of disasters.
Joe Biden ordered the strike against Zawahiri, and the al-Qaeda leader assumed room temperature on his watch, so Biden gets to take a victory lap. Jim Geraghty rounds up the Biden “W’s” here:
It was one of a few things going right for this administration - heck, the country - at a time when everything else seems to be going wrong. You’ll probably guess before reading too much further into this newsletter that we think the answer to the question above is “Not really, no.”īut President Biden should get credit, of course, for the fact that Ayman al-Zawahiri is no longer here (courtesy of the bladed “ Flying Ginsu,” it seems, he’s there, and there, and there, and, oh look, some more over there.
President Joe Biden reacts as he takes his seat before delivering remarks on the economy at the White House in Washington, D.C., July 28, 2022.
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