Trust in the federal government is low for many reasons: Incompetence, allegations of insider trading, destruction of scarce capital, and blatant overpromising and underdelivering all help to explain why voters are disillusioned.
Still, the big promises of the Inflation Reduction Act are just one more example of the Democratic Party’s mendacity. The act will not reduce inflation, and the green energy subsidies will not make a material dent in U.S. carbon emissions or in trends toward global warming. Researchers at Princeton University’s Zero Lab are becoming more transparent about how difficult it will be for the U.S. to reduce greenhouse gas emissions. In a recent report, the researchers explain that electricity transmission is just one of the keystones for unlocking the benefits of the green energy subsidies in the act.
