Pelosi: 'Bush and Republican Congress Continue to Ignore Economic Reality of Americans'

Pelosi via U.S. Newswire ^ | 12/14/2005 | Press Release

[Lunatic Fringe]

Does Pelosi not realize that the federal budget has very little to do with the economy as a whole? A federal deficit does NOT hurt the average American.

[lilylangtree]

Hahahahahahahahahahaahaha!!!!!

[CROSSHIGHWAYMAN]

In America, even a special ed dropout can get elected to Congress......

[Ramius]

She's not talking about the budget deficit, she's talking about the trade deficit. Different animal.

She's also wrong about real wages. They aren't stagnant, they're rising.

[MJY1288]

I can't believe that Sea Hag Pelosi actually spewed out 4 nonsensical paragraphs without using her favorite catch phrase "Culture of Corruption"

[Jhohanna]

Which is even funnier - because I *live* in San Diego, and a) I got a big raise this year b) I'm paying under the norm for rent c) I got a new car for way cheap d) with better gas mileage and e) I put a grand in the bank, and $500 to Katrina victims.

I don't get what the heck her issue is. :\ I mean, does she even lead the same state that *I* live in?? Too frickin' bad I can't vote against her because she's not in my district, but I did tell every Republican person that called during this last election season that she needs to be sat down.

[Kenny Bunkport]

It's hard to know how to respond to this. Anything Pelosi says can't be taken seriously.

[trebb]

Heck, even the MSM has taken to admitting the economy is strong - what a disconnect from her "base".

[You Dirty Rats]

I wasn't aware Willie Green is writing Nancy's economic speeches.

[LeftiesBinWhinin]

She has no choice - her face is always stiff and straight from the mega-Botox treatments....

[VA40]

The DOW just broke 10900.

[MNJohnnie]

5% Unemployment Nan. Full employment, the "greatest economy ever" when your boy BJ Clinton hit the that mark. 10 straight quarters of better then 3% GDP growth, best economic performance since the 1980s. (That's right Nan the Liar, better then your mythical "Clinton Economy"). I thought Democrats were being too stupid for words by being on the wrong side of Iraq. NOW you are going to place your selves on the wrong side of the Economy ALSO? That goes from stupid to insane.

[MNJohnnie]

We really need a law that states that all elected politicians are considered to be under oath anytime they speak in public.

Nailed it. Right on.

[gathersnomoss]

One way to decrease the deficit is to tax only loud mouth liberals who want to raise taxes. Up yours with someone else's, Pelosi.

[tgusa]

VERY GOOD for you! I love San Diego (retired USN). You California folks really need to break up into about 3 separate states. The nutcases from LA and SF get all the press, but the movers and shakers and bill-payers are elsewhere, like San Diego and the Lemoore area. The rest of us know and realize that the REAL Californians are conservative like the majority of this country.

[Polyxene]

Pelosi Press Release:

BAD news good; good news BAD

Same old dem/lib/socialist mantra.

[Willie Green]

I wasn't aware Willie Green is writing Nancy's economic speeches.

Nah.
Bush's economic policies are so pathetic that he's an easy target.
But the bimbo is still too stupid to propose a sensible alternative.

[SirChas]

But what is the percentage compared to the GDP etc.. and how does this compare to the past?

Any econ types know if this is a real way to look at it, instead of just the number by itself?

[Willie Green]

But what is the percentage compared to the GDP etc.. and how does this compare to the past?

Here are the facts:

Gross Domestic Product (GDP), the measure of the USA's output of goods and services, is calculated by the Commerce Department's Bureau of Economic Analysis using the following items:

• Personal consumption expenditures: Personal consumption expenditures are far and away the largest and tends to be the most stable of the four expenditures, averaging about 65-70% of gross domestic product.
• Gross private domestic investment: Expenditures on capital goods to be used for productive activities in the domestic economy that are undertaken by the business sector during a given time period. Gross private domestic investment tends to be the least stable of the four expenditures, averaging between 12-18% of gross domestic product.
• NET EXPORTS OF GOODS AND SERVICES Net exports of goods and services is the smallest of the four expenditures, averaging around 2% of gross domestic product. Unlike the other expenditures, net exports of goods and services can be either positive or negative. They are positive when exports are greater than imports (Trade Surplus) and negative when exports are less than imports (Trade Deficit). In recent years, net exports of goods and services have been negative.
• Government consumption expenditures and gross investment measures government purchases undertaken by the government sector. Government consumption expenditures and gross investment averages between 15-20% of gross domestic product. This percentage tends to be ebb and flow a little with the political winds.

The BEA News Release for THIRD QUARTER 2005 provides us with the following current data for these items. (Seasonally adjusted at annual rates)

Gross domestic product (GDP)............................. $12,601.0 billion
Personal consumption expenditures.......................... 8,845.4 (70.20% of GDP)
Gross private domestic investment.......................... 2,097.6 (16.65% of GDP)
Net exports of goods and services........................... -734.2 (-5.83% of GDP)
Government consumption expenditures and gross investment... 2,392.2 (18.98% of GDP)

The current BALANCE OF TRADE is in deficit, which is considered unfavorable.
That is why it is SUBTRACTED from the other factors used to calculate GDP.

And at historic highs, it diminishes our domestic economy by over 5% - more than twice the normal variation. This is NOT insignificant.

[Redcloak]

Well... Since the economy is going along swimmingly, I hope that the Bush Cabal continues to ignore our reality.