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Pelosi is right. In fact, the government should be spending more until the economy is on more solid footing.
Great
And the money to spend more is coming from...where?
OMG! This woman is insane.
Here's her quote:
Well, I think that sequestration is a bad idea all around. The fact is, weve 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, thats where the real revenue comes from. You dont get it by cutting into education, cutting back on investments in science and National Institute of Health, food safety, you name it. So, it isnt as much of a spending problem as it is a priorities, and thats what a budget is, setting priorities.
Rest at link:
Pelosi: It?s really a false argument to say we have a spending problem « Hot Air
Despite the hand-wringing from conservatives and media types about the federal debt and deficits, these charts make it clear that Americas problem isnt that the government is spending too much. Rather, its that the government isnt spending enough. Investments into infrastructure, education, teachers, public workers, and other programs could boost the economy. Instead, Washington has turned its attention to cutting spending, and the results have been dire, even if they are totally predictable to anyone who has read about the plight of the European economy over the last three years.
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.
Despite the hand-wringing from conservatives and media types about the federal debt and deficits, these charts make it clear that Americas problem isnt that the government is spending too much. Rather, its that the government isnt spending enough. Investments into infrastructure, education, teachers, public workers, and other programs could boost the economy. Instead, Washington has turned its attention to cutting spending, and the results have been dire, even if they are totally predictable to anyone who has read about the plight of the European economy over the last three years.
More: Three Charts That Show America Doesn't Have A Spending Problem
Thanks for the charts.
Lower spending equals slower recovery!
In fact, the reduction in growth of spending under Obama is unprecedented in the last half-century, and government spending under Obama is growing at the slowest rate since Dwight Eisenhower was president:
This reduction in spending, however, is not necessarily a good thing.
This chart from the Federal Reserves Janet Yellen illustrates the effect of fiscal contraction of economic growth. In previous recessions, government spending has encouraged faster recoveries, and the stimulus initially helped boost this recovery. But the spending cuts that have resulted since 2010 have had the opposite (and a totally predictable) effect, driving down consumption and slowing the recovery:
Despite the hand-wringing from conservatives and media types about the federal debt and deficits, these charts make it clear that Americas problem isnt that the government is spending too much. Rather, its that the government isnt spending enough. Investments into infrastructure, education, teachers, public workers, and other programs could boost the economy. Instead, Washington has turned its attention to cutting spending, and the results have been dire, even if they are totally predictable to anyone who has read about the plight of the European economy over the last three years.
.
What Pelosi meant to say was this: I'm in fucking denial!
