Nancy Pelosi (pictured above with Rahm Emanuel) once said:
“So if somebody has the idea that the percentage of GDP, of what our national debt is, will go up a bit, but they will now — and their neighbors and their children — will have jobs, I think they could absorb that.”
Since Speaker Pelosi took office :
- The national debt increased by 41.8%.
- The budget deficit has nearly tripled.
- The debt limit (borrowing limit) increased FIVE times.
When the Democrats gained control of Congress, the CBO projected that the federal government would run a budget surplus of $800 billion between FY 2008-2017. Now, over that same period, the federal government is projected to run a deficit of $7.4 trillion.
That is the kind of thinking, and the kind of result that gave the Republicans a 60 seat gain the the House yesterday. Pelosi did manage to hold on to her seat, garnering about 73% of the votes in her California district.
Based on what she said in a press statement she issued this morning, Madame Speaker still doesn’t get it.
House Speaker Nancy Pelosi says the midterm elections that delivered a Republican majority mean lawmakers must work together to support the middle class, create jobs and reduce the deficit.
In a statement early Wednesday, the California Democrat urged Republicans and Democrats to find common ground and said the outcome of the election does not diminish the work that's been done for the American people. Pelosi saluted the Democrats who she says took tough votes as they tried to create jobs and improve the economy.
She did not say whether she wants to continue to lead the House Democrats' smaller, more-liberal caucus next year.
Pelosi remains speaker through the end of the year. In January, she'll surrender the speaker's gavel.
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