Ron’s Reads 8/7

Friend,

Senate Democrats just passed their tax-and-spend bill this afternoon. They’ve named it the “Inflation Reduction Act,” but even Sen. Bernie Sanders noted that it really doesn’t help reduce inflation. It will head to the House next where we’ll work to defeat it. Instead, my colleagues and I have introduced numerous bills to encourage American energy production, end reckless federal spending and lower taxes for Kansans.

The Democrats’ bill is adding to just one of the challenges our country faces – out-of-control spending driving up inflation. Below I’ve provided some articles and commentary from the past week to provide you with additional perspectives on what’s happening in our nation and our world.

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A few reads to recap the week…
“Senator Bernie Sanders (I-VT) slammed the Inflation Reduction Act (IRA) negotiated by Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV), in part because of a recent nonpartisan report that revealed the bill would do very little to actually reduce inflation.”
READ THE ARTICLE
“But that top line masks the drop in July of the labor force participation rate to 62.1% in July from 62.2% at June. This is still far below the 63.4% labor force participation in February 2020, which translates to millions fewer people who would otherwise be working today compared to before the COVID-19 pandemic.”
READ THE ARTICLE
“Having given up fixing the economy, President Joe Biden and his handlers are instead fixing the dictionary.”
READ THE ARTICLE
“Since the beginning of the current congressional session, the House Democrats have voted unanimously (with one minor exception) for a series of lengthy bills with bizarre provisions providing ready ammunition for their Republican adversaries, disregarding the late Senator Bob Dole’s admonition to ‘read before you sign.’”
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“Hundreds of economists, three of them Nobel laureates — James Buchanan, Edward Prescott, and Vernon Smith — disagreed with Obama’s assessment of the stimulus. They were largely ignored by the media, just as economists who now maintain that the “Inflation Reduction Act” will do nothing for inflation or, more likely, worsen the problem will be today.”
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“A new report from the liberal Brookings Institute out Monday warned that the United States and European supply chains are too dependent on China for modern technologies such as electric vehicles, transmission, and energy storage.”
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“The Islamic State (IS) has claimed responsibility for two explosions that rocked Kabul on Friday and Saturday.”
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“Democrats are seeking to pass legislation to block potential Republican policy efforts on a variety of issues ahead of an expected GOP takeover of at least one chamber in November’s midterm elections.”
READ THE ARTICLE
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Thank you for taking the time to stay informed. Enjoy the rest of your weekend!

Onward to Victory,

Ron Estes