We all know this feel good title actually was a climate spending plan that catapulted inflation to levels not seen in a decade. When it’s all over, total estimated $3 TRILLION will be spent on direct spending grants, subsidies, etc., and another $3 TRILLION in spending based on mandates and rules. That is more than all of ObamaCare and the inflation adjusted $4 trillion we spent fighting in WWII. This was ostensibly for “energy transitions” but had far fewer administrative and oversight defined boundaries normally found in federal programs, nobody is at the wheel!
James Varney at RealClearInvestigations took a look and published preliminary findings in “Overnight Success: Biden Climate Splurge Gives Billions To Non-Profit Newbies”. He focused on the Greenhouse Gas Reduction $27 billion Fund of which Biden-Harris touted would spend $20 billion on grants to deliver clean energy and climate solutions to towns across America. Of that the EPA pledged $14 billion to low income and disadvantaged communities, which included $4 billion for rural communities and $1.5 billion to Tribal communities saying those areas were most in need of the investment. Needless to say poor communities consume a fraction of the energy wealthy areas do, so changing the behaviors and/or purchases in poor areas would do almost nothing toward accomplishing IRA’s climate goals.
So where exactly did that grant money go? Varney discovered that one award went to a group that became a non-profit and got a $940 million grant eight months later. Another received $2 billion one month after they became a non-profit, financials showed their only prior income was $100, sound bogus? You bet.
This is just the tip of the taxpayer waste from Biden-Harris reckless spending, of your money, that caused inflation and related costs taking more out of your pocket. The flood, no tsunami, of the migrant invasion, rampant inflation, reckless wanton spending, lawfare, the loonies were running the asylum, I cannot wait until the inauguration.
