(TheLibertyRevolution.com)- House Speaker Nancy Pelosi had a Jeb Bush moment while giving a speech celebrating the passage of the Inflation Reduction Act and praising Joe Biden for his immensely wonderful leadership during a time of record inflation and increased prices on consumer goods. After praising the president in a series of empty platitudes, Pelosi requested that the audience clap.
“Mr. President, thank you for unifying and inspiring a vision of a stronger, fairer, safer future for all, for our children,” Pelosi said. “Your extraordinary leadership has made this glorious day possible.”
When no applause followed, Pelsoi said, “That’s an applause line.”
Nancy Pelosi to Joe Biden:
"Your extraordinary leadership has made this glorious day possible. I—That's an applause line." pic.twitter.com/Ds3RNyEI0U
— TheBlaze (@theblaze) September 13, 2022
The moment resembled the 2016 campaign trail when Jeb Bush stood in front of a languid audience and told them, “please clap,” after he was done speaking. It became the subject of a joke years after.
While gas has been on the slow decline, with some speculating the release of the nation’s oil reserves ahead of the midterm elections, inflation is still beating down on consumer prices. Inflation was down .2% at 8.3% in August after a 40-year high of 9.1% in June.
Last month, cars, rent and medical services reportedly grew more expensive as core prices are up 6.3% from 5.9% in July. As investors are fearful that the Federal Reserve is going to continue to raise interest rates in an effort to curb inflation, stocks continue to tumble and bond yields are worse than they were just two years ago.
Further Fed hikes could reportedly push the economy into another recession as it slows down the growth of the economy.
The Inflation Reduction Act has been hailed as Democrats as key legislation, but the $740 billion package will do little to ease inflation some argue.
“When it comes to the Manchin-Schumer so-called ‘inflation reduction’ proposal, another shoe has just dropped,” Graham said in a statement. “According to CBO [Congressional Budget Office] analysis, the proposal’s effect on inflation is negligible at best. The estimate ranges from reducing inflation by 0.1 percent to increasing it by 0.1 percent in the near term.