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Debt Has Increased $5 Trillion Since Speaker Pelosi Vowed, ‘No New Deficit Spending’
Monday, October 25, 2010
By Terence P. Jeffrey
House Speaker Nancy Pelosi holds one of the pens used by President Barack Obama to sign the health care bill, Tuesday, March 23, 2010, in the East Room of the White House in Washington. (AP Photo/J. Scott Applewhite)
(CNSNews.com) - When Rep. Nancy Pelosi (D-Calif.) gave her inaugural address as speaker of the House in 2007, she vowed there would be “no new deficit spending.” Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department.
"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” Pelosi said in her speech from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."
Pelosi has served as speaker in the 110th and 111th Congresses.
At the close of business on Jan. 4, 2007, Pelosi’s first day as speaker, the national debt was $8,670,596,242,973.04 (8.67 trillion), according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. At the close of business on Oct. 22, it stood at $13,667,983,325,978.31 (13.67 trillion), an increase of 4,997,387,083,005.27 (or approximately $5 trillion).
Pelosi, the 60th speaker of the U.S. House of Representatives, has added more to the national debt than the first 57 House speakers combined.
As of early January, "the most ethical Congress ever" hadn't punished a single congressman for ethics violations. Not one, despite the many, many imbroglios in which, to take a not-so-random example, Pelosi crony Jack Murtha was involved. In fact, seven more congressmen were exonerated of ethics charges just today despite their ties to the PMA lobbying group.
House Speaker Nancy Pelosi (D-Calif.) insisted on Friday that she is running the most ethical and honest Congress in history. At the same time, however, she indicated she will not ask House Ways and Means Chairman Charles Rangel (D.-N.Y.) to resign his chairmanship-at least for now. Democrook Charlie Rangel was found guilty of ethics violations yesterday. But, at least he wasn't caught stashing $90,000 of cold hard cash in his freezer like crooked democrat William Jefferson who was recently sent to the slammer for 13 years.
When Pe;osi took office she promise PAYGO that means pay as you go on any spending..........That was $5,000,000,000.000.00 dollars ago........
Well, they blew a wad alright. Now a new version of PAYGO is being instituted. We pay, they go. Good-Bye.
May they not return to power until we straighten this mess out.
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Midterm elections 2010: Prepare for a new American revolution - Telegraph
Looks like a large group of people is getting ready to take care of this problem.
Never count your chickens before they're hatched.
Lets see
The Republican party has either controlled the White House or Congress since 1981 to 2009. In that period, the debt has gone from under 1 trillion to almost 12 trillion....
Let me guess all that debt is the dems fault right? Why did Reagan go along with all this debt? Or Bush? or the Republican congress from 1995 to 2005? Oh yea, cause when the Republicans are in office they spend like drunken sailors in a whore house.
Answer those two questions and you'll begin to get a clue how we got into this mess, but the American people are quick learners and will fix the problem tomorrow.
I wouldn't go as far as to say THAT. What's we'll do tomorrow is hopefully stop what the 110th Congress started. I've voting for Congress to be ineffective and for Obama's White House to be a lame duck. The past 10 years worth of spending will not be fixed tomorrow. It will need a vigilent and protracted amount of time and pain to curb the spending and reduce our deficit. This will not be easy.
Is that what your news is telling you in Europe ??? No wonder you get everything you write here wrong.
NEWSFLASH: Democrats have controlled Congress since 2006. They've controlled both the White House and Congress from 2008 to the present. They also controlled the presidency and both houses of Congress from 1992 to 1994.
Now here's two questions for you........
1. Who is able to spend money, Congress or the President ??
2. Did the economy go into the crapper before or after 2006 ??
Answer those two questions and you'll begin to get a clue how we got into this mess, but the American people are quick learners and will fix the problem tomorrow.
Thank you for proving my point.
You as a good conservative, totally ignore the massive spending spree Republican administrations (Reagan, Bush 1 and 2) plus in periods a Republican controlled congress (both houses from 1995 to 2006)....Yes under your party's leadership in one way or another (Congress or President), the US went from under 1 trillion in debt to 11 trillion..
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I could be wrong but do not think that the debt was 11 trillion by 2006. Do you have something that shows that number?
You are correct, it was only 8 billion. The 11 billion (11.9 actually) was the debt at the end of the Bush 2008-9 budget.
Thank you for proving my point.
Thank you for proving my point.
You as a good conservative, totally ignore the massive spending spree Republican administrations (Reagan, Bush 1 and 2) plus in periods a Republican controlled congress (both houses from 1995 to 2006)....Yes under your party's leadership in one way or another (Congress or President), the US went from under 1 trillion in debt to 11 trillion.. congrats! But you are first there to promote the fact that one from the opposition wanted to stop deficit spending in 2006, one year before the **** hit the fan.... that is called brain dead partisanship. You, like most of your conservative cohorts, constantly blame Pelosi, Reid and Obama for the crap hole you are in despite it was your lot that had a large (not total) fault in getting you into that hole.... it is ironic you dont mention any of the Republican favourites present and past, who had a large part in the problem.. oh yea they are Republicans and Republicans cant admit any wrongdoing.. it would make them explode!
Both, need to be way more specific. And frankly so what.. The Republicans had power of Congress from 1995 to 2006, and here the debt went up by many trillions, with deficit spending each year. Under Reagan, the deficit spending was huge, as well as under Bush 1. Are you seriously giving them a free pass for all that but going after Pelosi for "single handed" drove up the debt and deficit during a massive economic crisis that was started under a Republican controlled congress? Are you serious?
Yes several times. It was in the crapper in the early 1980s. And who was it btw that was instrumental in causing the 2007 crash? Oh yea, the Republican dominated congress from 1994 onwards.. ups. A Republican controlled congress and later White House that was warned of the problem, but ignored it. A Republican congress that was instrumental in removing the 1930s legislation that made it possible for the crisis to even happen... Again, we keep going back to something the Republicans were involved in.. but I am guessing you are gonna claim it was a Democrat issue since it was Clinton who signed the law..
I know fully well how you got into the mess, it is people like you that are in full denial of what happened. Your comments clearly show that. Let me guess, you gonna blame the dems and Fannie and Freddie like a good conservative? And you claim I have no clue about how everything happened? You do know that over 85% of failed sub-prime mortgages that drove the economy into the ditch were not from Fannie and Freddie right?
American people are not quick learners btw, since you have STILL not fixed the problems that got you into the **** hole you are in now. You all have basically ignored the fundamental problems that got you into the mess.
Please... don't say 'blew a wad' in a thread about Peolsi....
I'm sure he thinks Bush crashed Spain's economy too.
It amazing how much faith people have in Republicans to "look out" for your best interest. What republicans don't do wrong or something? Just like democrats, they are politicians who lie as well.
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