Pelosi: We don’t have a spending problem, we have a budget deficit problem

Here is what Nancy Pelosi promised on January 4, 2007 when she became Speaker of the House:

After years of historic deficits, this 110th Congress will commit itself to a higher standard: pay-as-you-go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.

- New Speaker Nancy Pelosi, 01/04/2007

On the day that Nancy Pelosi said that, the Total Public Debt Outstanding was less than $8.7 Trillion.

For the last 6 years, Democrats have held majority control of Washington, D.C. (holding 2+ out of 3 of the House, Senate, and Presidency) and now, after 6 years of Democrat majority control, the Total Public Debt Outstanding is nearly $16.5 Trillion, an increase of over $7.8 Trillion (an increase to the total national debt of OVER 90%!) since Pelosi and the Democrats promised “no new deficit spending”.

Pelosi is a blatant liar. She promised “no new deficit spending” but then TRIPLED deficit spending in her first budget as Speaker (FY 2008) and TRIPLED deficit spending AGAIN in her second budget as Speaker (FY 2009).

The last budget produced by a Republican House, Republican Senate, and Republican President was signed in 2006 for FY 2007, and resulted in deficit spending of $161 Billion.

Let’s compare the deficit spending from the last Republican-majority budget to the deficit spending from Pelosi’s four Fiscal Years:

FY 2007 Last Republican majority budget: $161 Billion in Deficit spending.

FY 2008 Pelosi and the Democrat majority’s 1st budget: $459 Billion in Deficit spending.

FY 2009 Pelosi and the Democrat majority’s 2nd budget: $1,413 Billion in Deficit spending.

FY 2010 Pelosi and the Democrat majority’s 3rd FY (no budget): $1,293 Billion in Deficit spending.

FY 2011 Pelosi and the Democrat majority’s 4th FY (no budget): $1,300 Billion in Deficit spending.

Budget numbers directly from the White House Office of Management and Budget

Despite Pelosi’s promises of committing to a higher standard of “pay-as-you-go” and “no new deficit spending”, she presided over historic deficits well over a Trillion dollars per year.

She is a bald-faced liar, and no one should take her seriously.

ITguy on February 10, 2013 at 1:37 PM

Nancy Pelosi, 2006:

Over the past decade, the Republican controlled Congress took our nation in the wrong direction. Too many Americans are paying a heavy price for those wrong choices: record costs for energy, health care and education; jobs shipped overseas; and budgets that heap record debt on our children. For millions, the middle-class dream has been replaced by a middle-class squeeze…

Democrats are proposing a New Direction for America…

With integrity, civility and fiscal discipline, our New Direction for America will use commonsense principles to address the aspirations and fulfill the hopes and dreams of all Americans. That is our promise to the American people….

Our federal budget should be a statement of our national values. One of those values is responsibility. Democrats are committed to ending years of irresponsible budget policies that have produced historic deficits. Instead of piling trillions of dollars of debt onto our children and grandchildren, we will restore “Pay As You Go” budget discipline.

Budget discipline has been abandoned by the Bush Administration and its Republican congressional majorities. Congress under Republican control has turned a projected $5.6 trillion 10-year surplus at the end of the Clinton years into a nearly $3 trillion deficit– including the four worst deficits in the history of America. The nation’s debt ceiling has been raised four times in just five years to more than $8.9 trillion. Nearly half of our nation’s record debt is owned by foreign countries including China and Japan. Without a return to fiscal discipline, the foreign countries that make our computers, our clothing and our toys will soon be making our foreign policy. Deficit spending is not just a fiscal problem – it’s a national security issue as well.

Our New Direction is committed to “Pay As You Go” budgeting – no more deficit spending.

Now, the six worst deficits in the history of America have all come while Democrats controlled a majority of Washington, D.C. (holding 2+ of the House, Senate, and Presidency): FY 2008 – FY 2013.
1) FY 2009 $1,413 Billion Deficit Democrat Majority
2) FY 2012 $1,327 Billion Deficit Democrat Majority
3) FY 2011 $1,300 Billion Deficit Democrat Majority
4) FY 2010 $1,293 Billion Deficit Democrat Majority
5) FY 2013 $901 Billion Deficit (assuming sequester happens) Democrat Majority
6) FY 2008 $459 Billion Deficit Democrat Majority

And the five biggest surpluses in the history of America all came when Republicans controlled a majority of Washington, D.C. (holding 2+ of the House, Senate, and Presidency):

1) FY 2000 $236 Billion Surplus Republican Majority
2) FY 2001 $128 Billion Surplus Republican Majority
3) FY 1999 $126 Billion Surplus Republican Majority
4) FY 1998 $69 Billion Surplus Republican Majority
5) FY 1948 $12 Billion Surplus Republican Majority

ITguy on February 10, 2013 at 1:54 PM

Constitutional scholar Nancy Pelosi:
We avow your First Amendment right to own a gun

ITguy on February 10, 2013 at 2:16 PM