According to a recent poll, the majority of voters believe that the economy has already reached a recession and that same majority believe that the Inflation Reduction Act is doing little to nothing to combat the ever rising inflation rates.
According to the poll conducted by NBC News, 68% of people believe we are currently in a recession while 27% of people claim we are not.
After the GDP contracted for a second consecutive quarter, the economy technically entered a recession from April-June.
According to the consumer price index, inflation hit a 40-year high of 9.1% in June before it dipped slightly to 8.5% in July.
The Inflation Reduction Act was recently singed into law despite the backlash over the inclusion of an IRS provision that would spend roughly $80 billion to hire 87,000 new agents across the country.
According to the poll, Americans were almost evenly split when asked about the Inflation Reduction Act with 35% believing it will negatively impact their financial situation and 36% saying it would not make a difference.
According to the same poll, 58% of individuals believe that America’s best years are in the past, only 35% believe the best is yet to come.