Biden’s Treasury Secretary Janet Yellen finally revealed the truth about what the Democrats are hoping to accomplish with their far-left ‘Inflation Reduction Act,’ admitting it will eradicate oil and gas in the U.S. once and for all.
During a speech at Ford’s electric vehicle factory in Dearborn, Michigan, Yellen argued a number of bizarre points including saying that soaring energy costs are not the Biden administration’s fault, while essentially confirming that the Inflation Reduction Act is nothing more than a refaced Green New Deal which will “rid ourselves” of oil and gas.
“The Inflation Reduction Act will put us on our way toward a future where we depend on the wind, the sun and other clean sources of energy. We will rid ourselves from our dependence on fossil fuels,” Yellen said.
Yellen’s delusion led her to stake other claims during the speech, like celebrating the current economic conditions and praising Joe Biden for ushering them in.
The Treasury Secretary said we have seen “one of the quickest economic recoveries in our modern history.”
“Our plan has worked,” she commented. “The United States experienced the fastest pace of job creation in our history. Household balance sheets are strong. Businesses continue to invest. Our broad and inclusive recovery has outpaced that of many other large economies. And measured by gross domestic income, our economy continues to expand and is operating above levels that would have been predicted pre-pandemic.”
Yellen’s claims of a strong economy don’t exactly make sense, however, given that Biden has steered the U.S. into two consecutive quarters of GDP contraction – the consensus definition of a recession.
She went on to suggest that the White House has nothing to do with inflation – despite numerous massive spending packages which many economists have sounded the inflationary alarm over.
“Now, Americans are rightfully concerned that higher prices are squeezing their day-to-day budgets and their longer-term savings,” Yellen continued. “The causes of inflation are largely global. But the pain of inflation is personal. This administration’s top economic priority is to combat inflation, even as we know the Federal Reserve has the primary role to play in restoring price stability.”
Yellen later went on to express her desire to force Americans pay more taxes – hoping that the new beefed up IRS will help to enforce that.
“This includes closing loopholes and returning tax rates for high earners and corporations to historical norms,” she said. “By making everyone pay their fair share, these reforms will provide our government with additional fiscal room to make critical investments.”