Inflation Reduction Act may cause a recession: Sen. Bill Cassidy | ABC News

by | Oct 18, 2022 | Inflation Hedge | 43 comments

Inflation Reduction Act may cause a recession: Sen. Bill Cassidy | ABC News




Jonathan Karl interviews Sen. Bill Cassidy, R-La., on “This Week.”

#ABCNews #ThisWeek #BillCassidy #Economy…(read more)


HOW TO: Hedge Against Inflation

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing


See also  How to Profit From Massive Inflation Ahead | Jason Hartman Explains Building Wealth During Inflation
Truth about Gold
You May Also Like

43 Comments

  1. Defected Communism

    Biden said the recession is "ZERO" So If we are not in recession?
    Than why Democrats just passed the recession bill?
    25 yrs I was registered Democrat i'm fed up with their lies & hurting us the blue-collar working Americans!

    My family come 1st I will never vote BLUE AGAIN!

  2. 56lindakay

    How about your huge raises every year??

  3. gemcan54

    BIDEN IS AN EVIL MORON. HOPE THE IRS AGENTS COME TO ALL THE DNC ABC ANCHORS HOMES WITH GUNS DRAWN. THEN THE REDUCTION ACT CAN BE CALLED A SUCCESS. ABC IGNORED ELECTION FRAUD..

  4. Kevin Medina

    Hmmmm………..Typical republican clown. Nothing of what Cassidy said was accurate. Listen closely as every republican defends and justifies corporations passing on any and all cost, including taxes, to consumers. I still can't believe that the republican base just blindly believe in all of the nonsense the right keeps spouting.

  5. Willys Best

    Recession is here for some time now, we are being led into a depression. It's over if Biden leadership through weakness get USA in a war with China, we have no supply chain here at home.

  6. Missouri Valley Arms

    We have the lowest job participation rate in USA in 40 years. When the government doesn't have taxpayers, they steal money from middle and low income Americans through inflation and taxation- EXACTLY what's going on now. They will hire 80,000 new IRS agents who will be weaponized against conservatives and small businesses. This is why the founders put the second amendment in the constitution. Vote conservative in November to stop this madness.

  7. JDS

    Lol let’s reduce inflation by printing 3/4 of a trillion dollars! My god they can’t be this stupid. This destruction of America is on purpose!

  8. Timothy Popik

    You can't tax and spend your way out of a recession.

  9. ThinkingForward

    Why doesn't Bill Cassidy talk about how much the climate emergency is hurting Louisiana? Why is he not taking steps to protect his constituents from the rising sea levels caused by greenhouse gas emissions from burning fossil fuels? Why is he NOT DOING ANYTHING TO ADDRESS THE CLIMATE EMERGENCY THAT IS THE GREATEST THREAT HUMANKIND HAS EVER FACED AS YOU CAN SEE WHEN LONDON REACHES BIZARRE AND UNHEARD OF TEMPERATURES OF104 DEGREES?

  10. God's Sara

    This increases everyone's taxes!!!! Typical Nazicrat lies. While they arm the IRS
    the Joint Committee on Taxation (JCT) has done its job, estimating the increase in taxes for people in each income group.

    The $54.3 billion tax increase for 2023, the JCT estimates, won’t increase taxes for anyone with income between $0 and $30,000. But the JCT also points out that its measure of income includes not just adjusted gross income but also employer contributions to health insurance, the employer’s share of the Social Security tax (FICA), and the insurance value of Medicare benefits. So millions of people whose adjusted gross income is below $30,000 will pay somewhat higher taxes.

    People with income up to $75,000 won’t pay much more. But people with income between $75,000 to $100,000 will see their average tax rate rise from 15.8 percent to 16.0 percent. The average tax rate for people with income between $100,000 and $200,000 will rise from 19.1 percent to 19.4 percent, and between $200,000 and $500,000 will rise from 24.1 percent to 24.4 percent.

  11. Xiaobai Dong

    Did they double speed the speech of Larry Summers?

  12. Brenda Tenorio

    We're already heading to a recession next year at the very least.

  13. gbipit1

    Stupid voters

  14. Lil Space Cadet

    We ARE in a recession wtf is this

  15. Alex Mackay

    Republicans are lying rats. Got played very well by Manchin and Schumer.

  16. Head Space and Timing

    American voters own this. We people we put in place that are a bunch of cowards. Read Friedman, Sowell and other economists that know Inflation is an mortal enemy.
    The Fed needs to raise rates and yes, push us further into recession.
    The consequences of letting inflation drag on for years will be severe.
    But I think America can make it through if we face the facts and understand them.

  17. Barbyl

    Of course he won't support anything the dems do awful people Republicans

  18. Jim

    Soaring energy prices are what is driving inflation. Surging prices have been a boon for investors, including energy executives, who receive a large share of compensation through the company stock. On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter, and Chevron made a record $11.62 billion. Revenue at Exxon skyrocketed to $115.68 billion, up from $67.74 billion during the same quarter last year. Consumers are facing high fuel prices not just at the pump, but soaring energy prices are being baked into delivery costs, which is driving up the cost of everything from apples to toilet paper.

  19. Missouri Valley Arms

    Soooo who thinks it's a good idea to hire 66,000 new IRS agents. Please, I'd love to hear from you.

  20. JOSEPH MENDOZA

    How do you think the U.S. Government is getting all this money for aid packages? THEY ARE PRINTING IT. We are going to pay for it with high inflation. Stop government spending, inflation will go down.

  21. Rosie

    Nothing the biden administration has done has lead to a better life for anyone.

  22. Missouri Valley Arms

    "May cause recession" WTF- We're already in recession- More gaslighting by FAKE MEDIA. You must not listen to their LIES anymore!!!

  23. Hazel Wears

    Inflation has and continues to increase,taxes are rising, why don't they raise the SSDI CHECKS by 15%? Hell those on it can't keep up now as it stands now and when taxes and Inflation rise even more then it's going to be EVEN HARDER! DO AWAY WITH STUDENT LOAN DEBT or it'll be EVEN WORSE for those on SSDI! SSI recipients CAN AND SHOULD HAVE TO GET A JOB AND GET OFF WELFARE AND SSI!!! THAT WOULD DRAMATICALLY REDUCE THE BURDEN ON THE GOVERNMENT IF THEY'D make all those who have 3-10 kids and are only on welfare for the check get JOBS INSTEAD OF A HANDOUT!

  24. DarkManKind

    In my opinion, every one of these politicians pulls a fast one every time they open their mouths.

  25. Danny v

    Um it might?, lol its literally a half trillion in new spending

  26. Brian Levine

    Wait, you mean the recession we're already in? Or the new definition that the white house made so that they can say we aren't in a recession while people still can't afford gas or food or rent. I miss the days when the MSM was for the people.

  27. Levan Mikadze

    His saying "it may cause recession" like we are not already in one…lol

  28. Wayne Paul

    Voted for a bill,
    nothing changed
    Voted against
    Says the bill needs changed

    Why did you vote for it the 1st time you?

  29. mezenman

    Bill Cassidy is against higher wages for workers. Did he just claim higher wages causes businesses to leave the country? Sure sounds like Mr. Cassidy is representing the interests of business over the people.

    He also said he highly supports a bill he voted against. This dude makes no sense.

  30. The Bunz

    We are in one you damn clowns. Keep changing words to fit your bs like fow-chi. This is outrageous!

  31. Mikal Sweeny

    Lol. Everyone read on history of money. Buy gold/silver/crypto/land. Dollar is now 20c

  32. Samuel Thomas

    My life has totally changed since I started an investment of $6,000 and now earning over $57,000.

  33. Gale Martin

    Yo Cassidy. Unlike white Christian conservatives the rest of us can do math you broke butt con man. People do the math for yourself. If you cannot, then use an app, but for the love of the gods don't take Sen. Cassidy's word for anything.

  34. M G

    May cause???? We ARE IN A RECESSION NOW!!

  35. peterpam

    Omg. Put those masks back on and take 3 more jabs (emergency act).

  36. Jeffrey Cash

    The American dream is dead

  37. Wil Rodriguez

    Raising TAXES ON CORPORATIONS AND HEDGE FUN MANAGERS. Go pound sand , Cassidy

  38. Wil Rodriguez

    Stop giving Trumplicans equal time. The only thing Republicans give us tax cuts for the rich.

  39. Gdog

    So taxes go up for people making 30,000 and up according to this. act

  40. Will Hall

    May cause a recession? What's it going to do for the recession we're already experiencing? Nothing good for sure.

  41. Crispin Fornoff

    How do you cause something you’re already in?

  42. R. Mayer

    The only thing China is good for is knock-off purses, cheap car parts, and a vegetable rich diet. We should *need *nothing from China. Need is the operative word there.

U.S. National Debt

The current U.S. national debt:
$35,350,842,310,771

Source

ben stein recessions & depressions

Retirement Age Calculator

  Original Size