PELOSI: Here’s the thing, we are here to have a budget that has revenue coming in, that has investments made into the future. We also want to make decisions in those two areas, where growth with jobs are created because more jobs, more revenue coming in. Nothing brings more money to the Treasury of the United States than investments in education of the American people.

So if you recognize that, which cuts really help us and which cuts hurt our future. And cuts in education, scientific research and the rest are harmful. And they are what are affected by the sequestration. So, it is almost a false argument to say that we have a spending problem. We have a budget deficit problem.