Buying it with a whopping 80 of voters in the latest fox news paul describing Economic Conditions as fair or worse, poor. It is no wonder, new data showing homeowners spending 40 of their gross income on their mortgage with rates hitting their highest level in 20 years and as moodys estimates americans are spending 709 or more on goods and services than they did two years ago. Lets bring in our panel, Damn Heninger and bill mcgurn, first, the Treasury Department on wednesday came out with a three page memo on the Inflation Reduction Act, virtually nothing in it was about reducing inflation. All about spending more on more regulations, both of which, spending or more regulations are inflationary. What do you make of that . Reporter President Biden has a habit of saying or whispering that he thinks it is true but nobody else knows that it is untrue, bidenomics with the Inflation Reduction Act is working, roll it back to when they were passing this act. They did call it the Inflation Redu
reporter: president biden has a habit of saying or whispering that he thinks it is true but nobody else knows that it is untrue, bidenomics with the inflation reduction act is working, roll it back to when they were passing this act. they did call it the inflation reduction act. don t ask me to defend the economics, inflation was rising, $2 trillion, a lot was transfer payments to people and the idea of giving people money to help them pay these higher bills, therefore, inflation is reduced, the inflation didn t come down, people didn t see prices coming down for them and support for his policies are one third of 1%. david: i want to read one sentence from this memo. our first year of implementation the treasury department has focused on achieving three goals, creating good paying jobs, strengthening our energy security, tackling