Among the plethora of dishonest tricks in the Democrat Party’s big fat bag of lies and other disreputable fraudulent activities is purposely misnaming a piece of legislation–a federal program and anything else they find necessary, solely for the purpose of exploiting and pandering to low-information voters.

Our story begins with West Virginia Democrat Senator Joe Manchin and ends with Manchin — except for a Penn Wharton Budget Model that just poured water all over the Democrat-claimed disinflationary effects of a compromise agreement between Manchin and New York Senate Majority Leader Chuck Schumer on a critical reconciliation bill — two weeks after Manchin abruptly pulled the plug on similar talks with Chucky.

Schumer and Manchin this week unveiled the $675 billion Inflation Reduction Act, which they claim would combat climate change, extend enhanced Obamacare subsidies, and reduce the budget deficit by roughly $300 billion. If you know anything about projected government spending in the Democrats’ Planet Looney Tunes Green New Deal, the federal budget deficit, inflation, and the economy as a whole, you also know there’s no way in hell the laughably-named Inflation Reduction Act can do everything Schumer and Manchin claimed it would — and reduce inflation at the same time.

Simplified translation: Not going to happen.

So how bad ,is it? Breitbart Economics and Finance Editor John Carney called it a “brazen lie.”

“Actually, it’s likely to increase inflation a bit in the near term,” he predicted.

The supposedly game-changing legislative breakthrough that brought together Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) after months of negotiations over Build Back Better failed is cynically branded as a measure to counter the budget deficit. This makes sense in a crass political way because inflation is the number issue facing American families and is plunging the economy into a stagflationary recession.

The first hint that this is not going to be an inflation-reducing piece of legislation is that the bill includes a massive expansion of government spending. There is roughly $385 billion in spending on energy and climate change, according to the nonpartisan Committee for a Responsible Budget. There is $100 billion of new spending for health care in the form of expanded Obamacare subsidies and expanded prescription drug and vaccine coverage.

Carney summarized the Democrat sham with an abbreviated version of Inflation 101: more government spending on top of an already out-of-control federal budget will increase demand for goods and services in the economy, but will not increase overall supply — particularly in the near term.

These new spending measures, which come on top of the already bloated government budget, will operate to increase aggregate demand in the economy. They may increase the supply of some goods and services but will not likely increase aggregate supply. Rather, the subsidies for green energy and clean manufacturing tax credits will shift supply sources without leading to a net increase.

The bill purports to reduce the budget deficit by increasing taxes and controlling some drug costs. The Committee for a Responsible Budget estimates these will produce cost savings and revenue of $470 billion. Unfortunately, none of that is likely to reduce inflation.

“In short, it is not enough to reduce the budget deficit if you want to reduce inflation,” Carney observed. “You have to reduce the right kind of spending or raise taxes in ways that reduce the private sector’s spending. This bill does nothing even close to either.”

Amen. Lest you skeptically wonder if I agree with Carney and he agrees with me, solely because we’re conservatives, fear not: The Penn Wharton Budget Model, a nonpartisan public policy initiative, is in agreement, as well.

The UPenn Wharton budget model estimates the so-called “Inflation Reduction Act” would NOT reduce inflation.

In fact, Senator Manchin’s favorite economists estimate it would actually increase inflation through 2023.

Um, Joe? What — Schumer got your tongue?

#NEW: The UPenn @Wharton budget model estimates the so-called "Inflation Reduction Act" would NOT reduce inflation.

In fact, Senator Manchin's favorite economists estimate it would actually increase inflation through 2023.https://t.co/yqW8nrDFg3

— Financial Services GOP (@FinancialCmte) July 29, 2022

Shocked? Please.

The Penn Wharton Budget Model estimates that the Inflation Reduction Act would reduce non-interest cumulative deficits by $248 billion over the budget window with no impact on GDP in 2031.

The impact on inflation is statistically indistinguishable from zero. An illustrative scenario is also presented where Affordable Care Act subsidies are made permanent. Under this illustrative alternative, the 10-year deficit reduction estimate falls to $89 billion.

Key Points, per Penn Wharton:

• PWBM estimates that the Inflation Reduction Act, as written, would reduce cumulative deficits by $248 billion over the budget window.
• The Act would very slightly increase inflation until 2024 and decrease inflation thereafter. These point estimates are statistically indistinguishable from zero, thereby indicating low confidence that the legislation will have any impact on inflation.
• *We project no impact on GDP by 2031 and an increase in GDP of 0.2 percent by 2050. These estimates include the impact of debt and carbon reduction as well as capital and labor supply distortions from rising tax rates.
• As written, the Inflation Reduction Act contains a sunset for the Affordable Care Act (ACA) subsidies provision at the end of 2025. Under an illustrative scenario where that provision was extended indefinitely, the 10-year deficit reduction estimate falls to $89 billion. The impact on GDP remains zero through 2040.

The bottom line:

If visions of Barack “If You Like Your Plan, You  Keep Your Plan” Obama are dancing around in your head, right now, you’re not alone. Not only did that quote garner a few “Lie of the Year” awards for Chicago Jesus Obama; he also lied his ass off about “keeping” your doctor and hospital, while also boasting (lying) that the average family’s “Affordable” Care Act premium would decrease by $2,500 in the first year; premiums instead increased by roughly $3,000 in the plan’s second year.

The dishonestly-named Inflation Reduction Act is more of the same. The question is, why do so many people continue to buy Democrat crock of crap after Democrat crock of crap?

Because, as is the case on both sides of the aisle, for those who believe, no proof is necessary. For those who don’t believe, no proof is possible.

You know, that P.T. Barnum thing.