The 2014 '30 Under 30'

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Nancy Pelosi says it’s “almost a false argument” to say the U.S. has a spending problem

There really isn’t a spending problem in Washington, according to House Minority Leader Nancy Pelosi.

“It is almost a false argument to say we have a spending problem,” she said. “We have a budget deficit problem that we have to address.”

Pelosi gave an exclusive, pre-taped interview to Chris Wallace, which aired on Fox News Sunday this week. The two of the them spent the first part of their interview talking about the looming sequestration, and the best strategies for avoiding it. And while Pelosi advocated a balanced solution, for the House Minority Leader and her fellow Democrats, spending cuts really aren’t a big part of the solution.

“The fact is, we’ve had plenty of spending cuts,” she told Wallace. “$1.6 trillion in the Budget Control Act. What we need is growth — we need growth with jobs.”

Wallace questioned Pelosi’s assertion that tax increases need to be part of the sequester avoidance plan — especially since he noted even a 100 percent tax on those making more than $1 million a year wouldn’t even match the projected deficit for this year — and kept pushing her hard on spending cuts.

“Are you really saying that in a government that spends $3.5 trillion a year, that increased federal discretionary spending by 14 percent over the last four years, you can’t find $85 billion to cut, to avoid sequester?” Wallace asked.

Pelosi said that certain subsidies had been cut, but Wallace again called her out.

“But why not just cut spending?” he asked. “$85 billion in a $3.5 trillion government.”

Pelosi countered with a familiar Democratic card and blamed the Bush administration for the financial situation of the nation. Wallace responded that the debt increased by $5 trillion under President Obama, which Pelosi blamed on trying to avoid the fiscal cliff.

During the interview, the House Democratic leader also struggled to remember exactly what the income limit was for the fiscal cliff tax increase — an increase to 39.6 percent from 35 percent for families earning more than $450,000 and individuals earning more than $400,000. She said it was “a very good thing” to raise taxes “on people making over, uh — the high end of our population.”

 

Comments

Comments

  1. The problem isn’t spending it’s that the government is spending with the wrong mind set.
    You see the government and all businesses in general operate with the idea citizens are corporations who always has money even when unemployed and businesses are corporate property. “18th amendment”
    When the government has to change it’s mind set and think Citizens are people and businesses are businesses and corporations are corporations.
    The government is going with the Tax more and prey policy it don’t work. Higher taxes means less jobs.
    Our economy needs to become one of job creation.
    The secret to prosperous economy is not taxation it’s not a massive military it’s not subjected people. It is industry look at our economy after world II the US was the largest manufacturer after that and because of this we grew in to a super power. Now our government is trying live in that shadow.

    To fix this economy what needs to be done.
    Change the constitution to return the meaning of People back into citizens of the united states.
    Cut taxes on industry.
    Create grants for american citizens to start up industrial businesses with in the united states.
    Permit a tax break time of 2 years on new businesses and corporations. Because that is the make or break time.
    Also in areas of high unemployment give the government authority to seize condemned “Abandoned” property to be developed into a businesses then sold to it’s people as long as it is for the purpose of creating jobs.

  2. Roger Mitchell says:

    Having ran and growing my own business for 45 yrs All I would say is the Gov at any level is incompetent and lacking any real business intelligence . Yet the locust state and Federal Governments are the nations largest employer’s and if any real business or simple household ran their budgets like the Gov’s do we would all be bankrupt the tax well is running dry as my old granddaddy used to say you can’t get blood from a turnip .
    Economics 101 don’t spend what you do not have hoping a windfall check will arrive in your mail box before the check clears .

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