Speaking with Cecilia Rouse, the chair of the White House Council of Economic Advisors, CNN’s Kate Bolduan demanded an explanation for why the so-called “Inflation Reduction Act” doesn’t actually reduce inflation, and the CNN host actually laughed at the answer.
Bolduan was interviewing Rouse, discussing the signing of the legislation Tuesday and the official report from the nonpartisan Congressional Budget Office which revealed that the bill doesn’t actually do what Democrats say it will do.
“Democrats titled this bill the Inflation Reduction Act, which begs of course for voters to hold you all accountable to that,” the CNN host said.
“The Congressional Budget Office, you know this, but to remind viewers, the non-partisan kind of scoring organization for legislation, says that the bill would have negligible impact on inflation this year and next,” Bolduan added. “Are you personally comfortable as an economist calling it the inflation reduction act?”
“So, this bill represents really important investments we know we need to make that help to expand our economic capacity,” Rouse responded.
“Inflation happens when we have too much demand for the supply, and we know we need to be investing in the supply supports so we are better able as a country to address issues like inflation going forward,” the White House economic adviser added. “So, this will increase our economic growth, and because of how we planned to implement it and provisions in the bill, that growth will be more equitably shared.”
Bolduan persisted in her line of questioning, refusing to let Rouse deflect.
“But if you passed a bill called the Fill Every Pothole Act, I mean voters should expect you to fill every pothole. So should voters measure the success of this bill on how much you reduce inflation in the next couple of years?” the CNN host asked.
CNN: "If you passed a bill called the 'Fill Every Pothole Act,' I mean voters should expect you to fill every pothole. So should voters measure the success of this bill on how much you reduce inflation?"
BIDEN ADVISOR CECILIA ROUSE: "Tax provisions…will happen immediately.” pic.twitter.com/ACakjSZlCx
— RNC Research (@RNCResearch) August 16, 2022
Rouse replied by claiming that the bill’s benefits would be spread out over several years, but she still refused to actually explain why it didn’t lower inflation.
“Yeah,” Bolduan responded.
“And a name is just a name, but there are definitely a lot of other names you could have named this bill!” she added, laughing at Rouse’s non-answer.
Rouse was similarly criticized by another CNN anchor, Jake Tapper, back in July, with Tapper pointing out that Biden administration officials kept coming out to claim that they were working on fighting inflation while the problem kept getting worse.
As inflation surges to its highest level in more than 40 years, CNN's @jaketapper speaks to Council of Economic Advisors Chairwoman Cecilia Rouse about what the Biden White House is doing to combat rising prices across the country. pic.twitter.com/z5TCPnDiB4
— CNN (@CNN) July 13, 2022
President Joe Biden signed the $700 billion “Inflation Reduction Act” on Tuesday.