Pelosi, Tax Cuts, and Deficits

Posted by Brian Patrick on

FYI – 


Rhetoric – Leader Pelosi: Tax Cuts Create Deficits. Let me just remind all this talk about tax cuts, in the Bush years Republicans said tax cuts would produce jobs. They didn’t, they produced a deficit. (CNN, 6/26/11)


Reality – Former Speaker Pelosi’s Out Of Control Spending Has Caused Deficits To Soar:

  • Under Then Speaker Pelosi’s Stewardship, $5.32 Trillion Was Added To The Debt. (U.S. Department Of Treasury Website, 6/26/11)
  • In The First 2 Years Of The Obama Presidency Speaker Pelosi Helped President Obama Add $3.5 Trillion To The Debt. “Just as President Obama signed and sent his annual Economic Report to Congress, the Treasury Department posted numbers that show the national debt has increased $3.5 trillion so far on Mr. Obama's watch.” (CBS News, 2/23/11)
  • Leader Pelosi’s Support For Unchecked Stimulus Style Spending Has Caused A Surge In Public Debt. The annual long-term budget outlook forecasts a surge in public debt this year that will rise to 70 percent of GDP by the end of fiscal 2011, compared to 62 percent by the end of 2010. The figures are worse than those released by the CBO just a year ago. (The Hill, 6/22/11)
     




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