According2Sam #132 'Fire & Rain'

On Tuesday President Joe Biden held a party at the White House to celebrate the passing of the 'Inflation Reduction Act', a spending bill worth $740 billion. It was a huge celebration that included members of congress, their staffs, and many invited guests. Six-time Grammy Award winning recording artist, James Taylor was invited as a special guests for entertainment. Before President Biden addressed those in attendance Taylor treated them with a rendition of his hit song 'Fire and Rain'. Then President Biden addressed those in attendance to boast about the passage of this enormous new spending bill. He bragged about all of the things that the bill would do; lower costs, reduce the deficit, fight Climate Change, and more. Most importantly, as the name of the bill suggests, he claimed that it would reduce inflation. The new consumer price index (CPI) numbers were released earlier that morning and the new numbers showed a rises in inflation when many were expecting a decline. This prompted a sell off in the stock market that marked the worst day on Wall Street since the 2020 crash from the pandemic. It was surreal watching markets tank as Biden and Democrats were celebrating at the White House. How does the real state of the economy contrast the positive rhetoric that we heard from Biden on Tuesday, and can we trust Biden to tell us the truth? Join the conversation and get answers to these questions and more on According2Sam episode #132.