Pelosi: it's really a false narrative to claim we have a spending problem

[zeke]

editec, a reasonable person. I have asked rethugs this questions, but none ever answer.

What do you think the debt is doing to harm the American economy AT THIS POINT IN TIME?
Interest rates are dirt cheap (I borrowed mortgage money at 2.75% unbelievable) Wall Street and corporate profits are doing fine.

Food prices are going up, but that is more an indication of what last years drought. Energy is up and down, depending on what war is brewing in the ME.

Companies are sitting on piles of cash.

What is the debt doing to harm the USA Right NOW that is worse than the rising UE that will come about if the government cuts spending a great deal.

If the UE rate climbs about 9% again. what good will that do the government? UE insurance will go up, revenue's will go down. Recession will come back full swing. Where is the up side?

What will be all the good things that will happen if the government cuts spending, lets say 10% across the board?

The government is debasing your currency and buying up assets. As a start. The low interest rates are building another bubble which will pop, and look a lot worse than 2008 did. Thqat's the problem. The debt is being monetized which is destroying the country's wealth.

We're still in a depression. The only people who are doing well are those who are funded or have favoritism ties tot he government. Main street isn't seeing any so called recovery. In fact, taxes just went up on everyone and there are more taxes on the way come next year.

You're delusional if you believe there is a recovery in progress. Only another bubble is being built. That's it.

Ok, the last thing I am is delusional. But rather than going over your ideas point by point, tell me how you think cutting government spending is going to fix the problems?

How will more UE make things better for the economy?

What "bubble" are you thinking is going to pop? The stock market? The interest rate market? Maybe the interest rate market. But even if rates go up, which they will, the economy has had some pretty good times with interest rates much higher. Also for an interest rate bubble to pop, there would have to be massive borrowing under extremely lax borrowing conditions. That is not happening right now. Matter of fact, you better be gold plated to borrow money. No bubble there. Consumer borrowing on credit cards is up, but not because of lax interest rates.

Once again, what good things will happen to the economy if the government were to cut spending by 10%?


Oh btw the ultra wealthy in the country have never had it so good. So I don't think you will be able to convince them that things are so bad. No matter how big the debt is they will be doing just fine.

And I am not saying that the debt shouldn't be paid down. It should. I just am curious as to why you think it has to be done right now. And what advantage to the economy would occur if spending were cut dramatically right now.

 

[zeke]

Oh and the "monetizing the debt". You do know that has been going on for a long time.

You knew that. Then why hasn't it collapased the economy before now you think?

Would you like to eliminate the fractional reserve banking system? Go back to the gold standard?
Ain't gonna happen. But it sure does sound good.

That kind of contraction in the money supply would bring on a depression that would last forever and a day.

 

[TakeAStepBack]

Yeahhh, I'm not going to explain this out. An interest rate market bubble?

 

[zeke]

Yeahhh, I'm not going to explain this out. An interest rate market bubble?

Hey dude. It's ok. You made an attempt. Which is a lot more than most of your friends on here can or will do.

But regurgitating reethug talking points will only take you so far.

And now we are at that point in time where your ignorance takes over and the idea of communication on anything has come to an end.

Why can't you just come out and say you have no fuking idea what good would happen to the economy if government spending was cut 10 %. No one else can answer that question either. You are not alone in your ignorance.

But is sure makes a good sound bite (cutting spending) doesnt it?

 

[Jroc]

Can you say.. Dumber than a box of rocks...


[ame=http://www.youtube.com/watch?v=BOwF6q9r1TI]In One Interview, Nancy Pelosi Says We Don't Have A Spending Problem Twice - YouTube[/ame]

 

[LogikAndReazon]

The six trillion in debt barack hussein added to the national debt was a " moral" imperative......... lol

 

[TakeAStepBack]

Yeahhh, I'm not going to explain this out. An interest rate market bubble?

Hey dude. It's ok. You made an attempt. Which is a lot more than most of your friends on here can or will do.

But regurgitating reethug talking points will only take you so far.

And now we are at that point in time where your ignorance takes over and the idea of communication on anything has come to an end.

Why can't you just come out and say you have no fuking idea what good would happen to the economy if government spending was cut 10 %. No one else can answer that question either. You are not alone in your ignorance.

But is sure makes a good sound bite (cutting spending) doesnt it?

 

[DiamondDave]

Pelosi... the gift that keeps on taking

Laktator.. A better parrot for his masters than I have ever seen in any old pirate cartoon

 

[Desperado]

Pelosi: it's really a false narrative to claim we have a spending problem
OMG! This woman is insane.

Pelosi is definitely certifiably insane and so is anyone else that would vote for her.
When you are borrowing 40 Cents of every dollar you spend, you have a spending problem. There is no other way to even consider it.

 

[CrusaderFrank]

Pelosi is right. In fact, the government should be spending more until the economy is on more solid footing. Austerity has been bad and slowing progress.

Pelosi is talking about the USA, not Greece. If you weren't a complete fucking moron, you'd know that

 

[Soggy in NOLA]

Further evidence Chief Shitting Bull (Lakhota) is a blithering idiot.. as if we really needed more.

 

[Star]

editec, a reasonable person. I have asked rethugs this questions, but none ever answer.

What do you think the debt is doing to harm the American economy AT THIS POINT IN TIME?

Interest rates are dirt cheap (I borrowed mortgage money at 2.75% unbelievable) Wall Street and corporate profits are doing fine.

Food prices are going up, but that is more an indication of what last years drought. Energy is up and down, depending on what war is brewing in the ME.

Companies are sitting on piles of cash.

What is the debt doing to harm the USA Right NOW that is worse than the rising UE that will come about if the government cuts spending a great deal.

If the UE rate climbs about 9% again. what good will that do the government? UE insurance will go up, revenue's will go down. Recession will come back full swing. Where is the up side?

What will be all the good things that will happen if the government cuts spending, lets say 10% across the board?

Good points zeke. We should be debating solutions, but all Republicans want to do is wrinkle their collective noses and fight against anything-----anything Obama is for, didn't Groucho do a skit about being "against it"?


Hot air is famous for false attributions, taking quotes out of context, removing and/or moving key words. In this article, Hot air is taking half sentences of Nancy Pelosi's then adding their own words without separating Pelosi's words with quotation marks. Even the word "almost" was removed in Hot air's headline, not to mention the contextual second half of her sentence (i.e. – we have a budget deficit problem that we have to address.). IOW's, if Hot air is going to use Pelosi's words for their headline, the headline should have read: "So, it is almost a false argument to say we have spending problem – we have a budget deficit problem that we have to address. Right now we have low interest on the national debt and it’s a good time for us to act to lower that deficit. We think that the deficit and the national debt are at immoral levels, they must be reduced, we’re sick and tired of paying interest on the national debt and that’s 15 percent – that’s a large percentage of the budget, the interest on the national debt, it’s lower now because of the lower interest rates."


It's not surprising that Republican/tea party types get duped by this kind of stuff, it's what they've emotionally bought into via the rightwing propaganda machine.


Below is Hot air's full article, then below that is the transcript of Chris Wallace's interview with Nancy Pelosi -- see what I'm saying, lots-o-hot air changes huh?

Sorry about the length of this post but-----but Hot air moved-changed-made up a lots-o-stuff.



Pelosi: It’s really a false argument to say we have a spending problem « Hot Air

Well, I think that sequestration is a bad idea all around. … The fact is, we’ve had plenty of spending cuts. … What we need is growth. We need growth with jobs. … So, again, we have to make a judgment about how do we get growth with jobs, that’s where the real revenue comes from. You don’t get it by… cutting into education, cutting back on investments in science and National Institute of Health, food safety, you name it. … So, it isn’t as much of a spending problem as it is a priorities, and that’s what a budget is, setting priorities. … Nothing brings more money to the Treasury of the United States than investments in education of the American people. … So if you recognize that, which cuts really help us and which cuts hurt our future. And cuts in education, scientific research and the rest are harmful. And they are what are affected by the sequestration. So, it is almost a false argument to say that we have a spending problem. We have a budget deficit problem.
​

Just let that sink in for a moment. We’ve had “plenty of spending cuts,” and we don’t have a spending problem — “we have a budget deficit problem.” …Yeah, all of those ‘plentiful’ spending cuts are probably the reason we’re on track to add $7 trillion more to our debt in just ten years.
The nonsensical contortions she just made to protect the White House’s sudden panic about the sequester are really quite impressive. On the one hand, I’m almost pleased that she acknowledges that the most efficient and productive way to increase revenue is to increase economic growth — but that is completely canceled out by her belief that government spending is what really drives growth. “Investments” in education are the single biggest thing bringing in the most money to the Treasury? No. Blaming the Bush administration for spending increases? Yawn. One of Obama’s own major economic advisors pointed out that tax hikes hurt growth, but these recent tax hikes are awesome and their effectiveness is about “timing”? What the what?

This all comes down to the Democrats’ refusal to substantively acknowledge and address the urgent need for major entitlement reform, the absolute main driver of our debt, and instead keep slapping on more short-terms band-aids made of government “investments” and “revenue,” a.k.a. tax, increases. The GOP is not impressed with that strategy:

Eric Cantor said today that pushing off the sequester by additional tax hikes was unacceptable.

“We can’t be raising taxes every three months in this town,” Cantor said on Meet the Press today. “The bottom line is we want tax reform, but we want to go plug those loopholes that the president talks about to bring down tax rates because we believe that’s pro-growth and we can get an economy growing again. Let people who earn the money keep more of it. The president is not talking about that. What he’s talking about is trying to raise more taxes for Washington to spend the money.”
​

Well, I think that sequestration is a bad idea all around. … The fact is, we’ve had plenty of spending cuts. … What we need is growth. We need growth with jobs. … So, again, we have to make a judgment about how do we get growth with jobs, that’s where the real revenue comes from. You don’t get it by… cutting into education, cutting back on investments in science and National Institute of Health, food safety, you name it. … So, it isn’t as much of a spending problem as it is a priorities, and that’s what a budget is, setting priorities. … Nothing brings more money to the Treasury of the United States than investments in education of the American people. … So if you recognize that, which cuts really help us and which cuts hurt our future. And cuts in education, scientific research and the rest are harmful. And they are what are affected by the sequestration. So, it is almost a false argument to say that we have a spending problem. We have a budget deficit problem.
​

Just let that sink in for a moment. We’ve had “plenty of spending cuts,” and we don’t have a spending problem — “we have a budget deficit problem.” …Yeah, all of those ‘plentiful’ spending cuts are probably the reason we’re on track to add $7 trillion more to our debt in just ten years.
The nonsensical contortions she just made to protect the White House’s sudden panic about the sequester are really quite impressive. On the one hand, I’m almost pleased that she acknowledges that the most efficient and productive way to increase revenue is to increase economic growth — but that is completely canceled out by her belief that government spending is what really drives growth. “Investments” in education are the single biggest thing bringing in the most money to the Treasury? No. Blaming the Bush administration for spending increases? Yawn. One of Obama’s own major economic advisors pointed out that tax hikes hurt growth, but these recent tax hikes are awesome and their effectiveness is about “timing”? What the what?
This all comes down to the Democrats’ refusal to substantively acknowledge and address the urgent need for major entitlement reform, the absolute main driver of our debt, and instead keep slapping on more short-terms band-aids made of government “investments” and “revenue,” a.k.a. tax, increases. The GOP is not impressed with that strategy:

Eric Cantor said today that pushing off the sequester by additional tax hikes was unacceptable.

“We can’t be raising taxes every three months in this town,” Cantor said on Meet the Press today. “The bottom line is we want tax reform, but we want to go plug those loopholes that the president talks about to bring down tax rates because we believe that’s pro-growth and we can get an economy growing again. Let people who earn the money keep more of it. The president is not talking about that. What he’s talking about is trying to raise more taxes for Washington to spend the money.”
​

Transcript

Pelosi: We Must Avoid Sequester, Need Growth & Balance | Democratic Leader Nancy Pelosi


On Sequestration:

Leader Pelosi. Well, I think that sequestration is a bad idea all around. It should be something that is out of the question. The fact is we’ve had plenty of spending cuts – $1.6 trillion dollars in the Budget Control Act – what we need is growth. We need growth with jobs and if you have spending cuts – the education of our children and other investments like the National Institutes of Health, where you are hindering growth, you’re not going to reduce the deficit.

So, what we do need is more revenue and more cuts – where I would like to see that is in a big, balanced, bold proposal, short of that we must do something to avoid the sequester.

On Speaker Boehner’s “Spending Problem:”

Leader Pelosi. Let’s just back up from – with all due respect to the Speaker, what he’s said is not the gospel truth. The fact is that a lot of the spending increases came during the Bush Administration – two unpaid for wars that we got ourselves engaged in, prescription drug plan that added enormous amounts to our spending, and the tax cuts for the high end that did not create jobs and create revenue coming in.

So, that’s how we got to a place…

Mr. Wallace. But the total debt has increased $5 trillion since this President came in.

Leader Pelosi. Well, part of that is from what we had to do avoid going over the cliff of a recession – depression. Yes, we had the Recovery Act which saved or created 3.5 million jobs – you know the record of job growth in the private sector has been consistent for many, record number of months.

So, again, we have to make a judgment about what to – how do we get growth with jobs? That’s where the real revenue comes from, you don’t get it by cutting down your seed corn, cutting in education, cutting back on investments in science and National Institutes of Health, food safety, you name it.

So, it isn’t as much a spending problem as it is a priorities [problem] and that’s what a budget is: setting priorities.

On Jobs:

Mr. Wallace. But you talk about growth – even Christina Romer, the former Head of the Council of Economic Advisers for the President says: ‘you increase taxes, that also hurts growth.’

Leader Pelosi. Well, it’s about timing, it’s about timing, and it’s about timing as to when you make cuts as well. We…

Mr. Wallace. But could you – the fiscal cliff you raised taxes $650 billion right away.

Leader Pelosi. Yeah, and that was a very good thing to do on people making over – the high end in our population. So, here’s the thing though: we are here to have a budget that has revenue coming in, that has investments made into the future, we also want to make decisions in those two areas where growth with jobs are created because the more jobs, the more revenue coming in. Nothing brings more revenue to the Treasury of the United States than investment in [the] education of the American people.

So, we have to recognize that. Which cuts really help us and which cuts hurt our future? And cuts in education, scientific research, and the rest are harmful and they are what are affected by the sequestration. So, it is almost a false argument to say we have spending problem – we have a budget deficit problem that we have to address. Right now we have low interest on the national debt and it’s a good time for us to act to lower that deficit. We think that the deficit and the national debt are at immoral levels, they must be reduced, we’re sick and tired of paying interest on the national debt and that’s 15 percent – that’s a large percentage of the budget, the interest on the national debt, it’s lower now because of the lower interest rates.

Mr. Wallace. But, again, all I would say is we got a $3.5 trillion budget and they’re talking about $85 billion in cuts. But let me, let’s go to the taxes though…

Leader Pelosi. Okay, but before you leave spending – we agreed to $1.6 trillion in spending and discretionary domestic spending…

On Medicare:

Mr. Wallace. But the sequestration is just spending cuts.
Leader Pelosi. Right. Secondly, we have gone to Medicare and had savings of over a trillion dollars in Medicare already – when I say we, I mean the Democrats. And what Republicans budgets are proposing is to make a voucher of Medicare, no longer make it a guarantee. There are other things in this discussion that I think the American people are made fully aware of – understand what it means in their daily lives.


.

 

[tjvh]

Pelosi is right. In fact, the government should be spending more until the economy is on more solid footing. Austerity has been bad and slowing progress.

What austerity? The Senate Democrats haven't even produced a budget. What cutbacks?

How can you be austere without a budget?

In Pelosi's eyes, "We have to spend it before we can budget for it."

 

[zeke]

Star, interesting interview.

Unfortunately the representation for the rethug point of view here on this site is lacking in most of the basic skills needed to look at an problem and move forward to a solution. You can ask any right winger what will happen if the government cuts 10% out of their spending and they all go apoplectic. Funny shit.

I live in SW Ohio and in Fairborn Oh is a large air base. My Congressman is a Repub. John Bohner's district goes right by my house (but I am not in it). We have rethugs galore all around. Tea party everything. They hate the government.....well they did till the Air Force started letting everyone know how many jobs were going to be cut. Then they found god in air force blue.

Nah the rethugs know how much job loss they will create if they cut our way to suppossed prosperity. And it scares them to death. They like the idea of being able to beat up on Obama about the debt and how spending must be cut, then turn around and beat Obama when jobs are lost because cuts are made.

It really is about a perfect delimna for Rethugs. Obama's damned if he does and damned if he doesnt.

 

[oldfart]

All that imaginary job growth, can you say bull shit. There are fewer people working today than when your dear leader took office. That ain't growth.

There is a readily available source for employment statistics which disagrees with you. Since you obviously don't use it, WHERE THE FUCK DO YOU GET YOUR NUMBERS? A CRACKERJACK BOX?

"Ignorance can be cured; dumb is forever."

 

[DiamondDave]

All that imaginary job growth, can you say bull shit. There are fewer people working today than when your dear leader took office. That ain't growth.

There is a readily available source for employment statistics which disagrees with you. Since you obviously don't use it, WHERE THE FUCK DO YOU GET YOUR NUMBERS? A CRACKERJACK BOX?

"Ignorance can be cured; dumb is forever."

Bureau of Labor Statistics Data

Enough said..

 

[CrusaderFrank]

Dems still think Pelosi is for real?

That's hilarious!

 

[zeke]

All that imaginary job growth, can you say bull shit. There are fewer people working today than when your dear leader took office. That ain't growth.

There is a readily available source for employment statistics which disagrees with you. Since you obviously don't use it, WHERE THE FUCK DO YOU GET YOUR NUMBERS? A CRACKERJACK BOX?

"Ignorance can be cured; dumb is forever."

Oldguy, down in OK Texas, they don't have no stinkin numbers. They don't even know how to read them stinkin numbers hardly. They just go with the feelin'. And ok Tex is feelin those numbers. And they feel gooooood. Obaaaaaaama baaaad, texassssssss gooood.

Ain't that right tex?

 

[depotoo]

Federal life goes on with or without a budget. It ain't rocket science...

Despite 14 Straight Months Of Public Job Loss, Republicans Continue To Block Obama's Jobs Plan | ThinkProgress

despite your continued denial, the House has offered up to this date 40 jobs bills -
40Jobs Bills Stuck In The Senate
House Republicans have passed 40 jobs bills that are currently stuck in the Democrat controlled Senate.
Eric Cantor || Majority Leader || Jobs Legislation Tracker

 

[depotoo]

All that imaginary job growth, can you say bull shit. There are fewer people working today than when your dear leader took office. That ain't growth.

There is a readily available source for employment statistics which disagrees with you. Since you obviously don't use it, WHERE THE FUCK DO YOU GET YOUR NUMBERS? A CRACKERJACK BOX?

"Ignorance can be cured; dumb is forever."

Oldguy, down in OK Texas, they don't have no stinkin numbers. They don't even know how to read them stinkin numbers hardly. They just go with the feelin'. And ok Tex is feelin those numbers. And they feel gooooood. Obaaaaaaama baaaad, texassssssss gooood.

Ain't that right tex?

wow, sterotype much simply because they were once blue and then turned red? Don't let your bias hit you in the rear, now, ya hear?

http://data.bls.gov/timeseries/LASST48000005?data_tool=XGtable