WATCH: Shark Tank’s Kevin O’Leary Takes a Sledgehammer to Biden’s ‘Highly Inflationary’ Inflation Bill

Shark Tank host and entrepreneur Kevin O’Leary made the case for why President Joe Biden’s so-called “Inflation Reduction Act” will actually be “very inflationary” on Monday. 

O’Leary appeared on the Aug. 8 edition of CNBC’s Squawk Box to debate Biden’s phony $739 billion Inflation Reduction Act in a debate with former Congresswoman Donna Edwards (D-MD). “Naming it ‘anti-inflation’ is a joke,” O’Leary said. “This is going to be very inflationary, almost immediately, because we’re printing billions of dollars. So it’s not going to help there at all.” 

The investor said he is “not into politics” but as an investor he asked himself, “Is this [legislation] going to solve inflation?” O’Leary’s answer? While gas prices have decreased slightly, “the rest of this bill” is “highly inflationary,” he said. “Ain’t gonna help. Gonna be lots of unhappy people.” 

O’Leary predicted that Democrats are likely to be defeated in November during the midterm elections: “This is going to be the last legislation this administration ever gets to put through after November 8th,” O’Leary said. “One of the reasons Pelosi went to Taiwan, and she knows — and she’s been a very successful politician — it’s over. She’s not going to be speaker after this midterm election.” Rep. Nancy Pelosi (D-CA) visited Taiwan in a highly controversial trip that even drew criticism from liberal commentators about the timing and purpose of her trip. 

O’Leary repeated that the Democrats would lose the majority in November. 

Biden was subject to low approval ratings during his tenure. A recent poll by Rasmussen Reports revealed that only 28% of U.S. citizens believe the country’s direction is right. 

O’Leary also tweeted in response to the clip: “Since when do we punish success in #AmericaAmerican #EntrepreneurThey are the economic backbone. Bad policy makes America less competitive!” 

 

Conservatives under attack. For more information, contact ABC News (818) 460-7777 or CBS News (212 975-3247) and NBC News (212 664 64192) to demand that they cease defending Biden’s actions in reducing inflation and increasing government spending while there is a recession.

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