Larry Kudlow: These major energy provisions are insane

Larry Kudlow / FOXBusiness

In recent nights, you've heard my double-barreled criticism of the so-called "Inflation Reduction Act," a $750 billion monstrosity that does not reduce inflation, does not reduce global warming, does raise taxes for middle-class working folks, will deepen recession and has not one iota, scintilla, whit, shred or morsel of economic growth incentives.

An Economist/YouGov poll shows that just 12% think the bill will reduce inflation, but 40% think it will increase inflation. Speaking of recession, we had a soft retail sales number today and the GDP tracker from the Atlanta Fed dropped to 1.6% growth in Q3, from 2.5% just ten days ago and, as you know, GDP declined in the first two quarters of the year. 

Big-box retailer Target reported a 90% drop in profits and sales fell way below estimates. Yesterday, housing starts and permits fell significantly. A new TIPP poll showed 62% of Americans believe the U.S. is in a recession. Read more and see video here.

The Arrogant Tweet Liz Cheney Regrets the Most 

Spencer Brown / Townhall Tipsheet

In Liz Cheney’s political career, there’s a lot to regret — even though she won’t admit as much. The daughter of the former vice president and a member of a Wyoming political dynasty, Cheney’s career in politics arguably peaked after she won the race for Wyoming’s at-large House seat in the 2016 election and subsequently became one of the highest ranking Republicans in Congress as the GOP Conference chair. 

But then Cheney brought everything crashing down on her by acting as if she did not to understand what her constituents wanted, becoming an active member of the GOP-trashing D.C. beltway elite, and willfully engaging in the obsessive persecution of former President Donald Trump. 

Cheney, who likely believed she was more powerful and knew better than her constituents back home in Wyoming, ended up falling on the sword of her own failure to use her power to represent her state or know that she was out of step. Read more here.