Skip to comments.Pelosi: GOP Congress ‘Robbing from Future by Increasing Debt;' She Upped Debt $5T in 4 Years
Posted on 12/14/2017 3:52:38 PM PST by jazusamo
39 second video of Pelosi at link
(CNSNews.com) - House Minority Leader Nancy Pelosi, during whose four-year speakership the debt increased by more than $5 trillion, said at her press briefing today that the Republican-controlled Congress is robbing from the future by increasing the debt.
Pelosi made the remark as part of her criticism of the Republican tax-reform plan.
This is who they are, Pelosi said. This is what they came here to do: tax cuts for the rich at the expense of the middle class, at the expense of the health and well-being of the American people. Robbing from the future by increasing the debt.
Under the last three House speakersthe Democrat Pelosi and the Republicans John Boehner and Paul Ryanthe federal debt has more than doubled, increasing by an average of more than $1 trillion per year.
From the time Pelosi started as speaker, on Jan. 4, 2007, until the close of business on Dec. 12 of this year, the debt climbed from $8,670,596,242,973.04 to $20,492,607,932,866.63an increase of $11,822,689,011,893.59
That is an increase of 136 percent in a little less than eleven years.
During the 3,996 days in the combined speakerships of Pelosi, Boehner and Ryan (so far), the debt has increased at an average of $2,958,630,883.86 per dayor almost $3 billion per day.
In that time, it increased fastest under Pelosis speakership, second fastest (so far) under Ryan, and third fastest under Boehner.
In the 1,462 days that Pelosi served as speaker--Jan. 4, 2007 to Jan. 5, 2011--the debt jumped from $8,670,596,242,973.04 to $14,011,526,727,895.85.
That was an increase of $5,340,930,484,922.81 in four years.
That means that during Pelosis speakership, the debt increased at an annual average of more than $1.3 trillion ($1,335,232,621,230.70) and a daily average of more than $3.6 billion ($3,653,167,226.35).
In the 1,759 days that Boehner served as speakerJan. 5, 2011 to Oct. 29, 2015the debt jumped from $14,011,526,727,895.85 to $18,152,590,112,385.69.
That was an increase of $4,141,063,384,489.84 in the approximately 4.8 years Boehner served as speaker.
That means that during Boehners speakership, the debt increased at annual average of approximately $862.7 billion ($862,721,548,435) and a daily average of more than $2.3 billion ($2,354,214,544.90).
In the 775 days Ryan has served as speaker for which the debt has been reportedOct. 29, 2015 through Dec. 12, 2017the debt jumped from $18,152,590,112,385.69 to $20,492,607,932,866.63.
That was an increase of $2,340,017,820,480.94 in the approximately 2.1 years Ryan has served as speaker.
That means that during Ryans speakership, the debt increased at an annual average of more than $1.1 trillion ($1,114,294,200,229.02) and a daily average of a more than $3 billion ($3,019,377,832.88)
Hate to say but I don’t like the fact that Trump and the Republicans are allowing the debt to increase either.
If they want to cut taxes and be reasonably sure they don’t increase the deficit, then they need to restore the import tariffs.
The tariffs will generate tariff revenue to offset the tax cuts. And at the same time they will provide greater incentives to manufacture in the US. That would send income tax revenues soaring.
I’m pretty sure Trump gets this, but GOPe and the rats are too busy selling out America.
I don’t hate to say it, I don’t like it either but this hypocrite seems to forget her $5T increase.
So why can't Democrats get on board with lower taxes? Why do they support higher taxes which always lead to people finding ways to pay in less?
It is impossible to “borrow from our children,” or from the future, or anything similar.
All costs of all spending are already paid the instant the spending takes place.
This particular bit of economic illiteracy is popular with both the left and the right.
You are so right Danny, Tariffs protect industry and raise revenue. It's how the USA funded the Federal Government for over 120 years before the disastrous income tax. Allowing imports to come in duty free while at the same time taxing domestic labor via the income tax is evil, wrong and stupid.
I think lowering taxes to Dems are like mirrors to vampires.
A tax cut that will stimulate economic growth will narrow the deficit gap.
“Hate to say but I dont like the fact that Trump and the Republicans are allowing the debt to increase either.”
This is why the Repub’s testicles have to drop, get behind Trump and start cutting. Trump’s actually cut some spending as best he could.
What torques me off about the Dem’s whining about spending ... after they took Bush’s financial bailout package and passed Porkulus, they stopped the entire budget process. They then proceeded to spend based on the budget after the financial crisis (which included Porkulus). Since the budget process was in “gridlock”, spending fell on the previous year’s budget. Sickening, huh? Every year had a little Porkulus in it. Of course, the Republican led House allowed that to proceed a little while longer since they were living high on the hog.
Anyway, once the House then attempted to regain some control of the budget, Obama had a hissy fit and threw his government shutdown temper tantrums (that included blocking WWII vets from visiting the WWII monument in DC ... an open air monument ... since DC was “shut down”). You might recall the media teaching the word “austerity” to the public and how that kills women and minorities.
Also, I remember Pelosi scheming to sell the idea that Bush’s bailout was actually “government spending” since it was passed as a loan. They need to dig up clips of her suggesting that (it was around the time she claimed Obama was going to create 500,000,000 jobs). They wanted to burn another $750B or so each year.
If we had anything that resembled an honest media, they’d be skewering this hag and her party of imbeciles nightly.
Couldn’t they, FINALLY, get a handle on spending, instead of acting like, drunken sailors after a 6 month deployment?
Or is that too much to ask?
“A tax cut that will stimulate economic growth will narrow the deficit gap.”
So long as spending is frozen or decreased.
“Couldnt they, FINALLY, get a handle on spending, instead of acting like, drunken sailors after a 6 month deployment?”
535 people need to buy lots of votes from ~ 150M voters ... that’s a lot of cash they require :-)! Sad, but true.
The Dims have suddenly gotten religion when it comes to sexual harassment concerns and concerns about the debt.
Hey Nancy pants. Tell us about the time you voted to decrease government spending.
The problem here is there are many rats that are just as demented
Of course it’s true. Who do you think will have to pay the national debt? Quicken Loan? Pelosi’s lie is one of omission. Obama ran up the debt insanely, which is what Democrats do, with Republicans running a close second. Trump is the first president in a century to at least try to reduce it, Calvin Coolidge being the last.
The decision to cut taxes should not be based on spending. Getting the economy growing and increasing revenue are good things if you are a deficit hawk. Cutting spending is a good thing also but a different set of political hoops to jump thru.
We have to get the economy going again and tax cuts are the best way. We have an entire generation that has only lived/worked under stagnant economic growth. This is miserable and my son deserves better. It is hard to argue that socialism is not better than living in a "capitalist" free market country with a 1% GDP. Hell, even the Chi Coms get this and build ghost cities to stimulate their economy.