CNN: Top economists say Dems' health care & climate package will put 'downward pressure on inflation

[kpete]

(CNN)Congressional Democrats' climate and health care package is getting a boost from a group of top economists, who wrote in a new letter that the so-called Inflation Reduction Act will lower prices for American consumers amid high inflation.

"This historic legislation makes crucial investments in energy, health care, and in shoring up the nation's tax system. These investments will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth," 126 economists said in a letter sent to congressional leadership Tuesday, which was first obtained by CNN.

The letter was signed by key economists including former Clinton Treasury Secretary Robert Rubin and Obama Treasury Secretary Jack Lew, Obama Labor Department chief economist Betsey Stevenson, Moody's Analytics chief economist Mark Zandi, former Congressional Budget Office Director Doug Elmendorf, and Nobel prize-winning economist Joseph Stiglitz, among others.

"This started to come together late last week with some of the signatories connecting with each other to discuss how they could highlight the economic value of the bill and push back on some of the economic disinformation surrounding it," a source familiar said of the letter.

https://www.cnn.com/2022/08/02/politics/economists-democrats-package-downward-pressure-inflation/index.html?utm_medium=social&utm_term=link&utm_content=2022-08-02T17%3A04%3A06&utm_source=twCNNp

[Hermit-The-Prog]

1. And every Republican reading that says, "Curses! Foiled again!"

Naturally, the radicalized Republican party will have to dream up more ways to inflict pain and misery on everyone in the country, except, of course, their billionaire oligarch owners.