Today on FOX News Sunday the former Speaker Nancy Pelosi said "it was almost a false argument to say the US has a spending problem."
Twice in the interview she said we don't have a spending problem.
The Hill reported:
House Minority Leader Nancy Pelosi (D-Calif.) said that the looming sequestration is "a bad idea all around" and called for a balance of spending cuts and closing tax loopholes in order to avoid it.
"It is almost a false argument to say we have a spending problem. We have a budget deficit problem that we have to address," she told Fox News's Chris Wallace on Sunday.
The Democratic House leader said she backed a ???big, bold proposal,??? to curb long-term spending, and, short of that, a plan that ended subsidies for large oil companies and eliminated loopholes in the tax code.
"It isn't as much a spending problem as much as it is priorities," she said at another point, arguing that tax subsidies were a better target than cuts to programs such as education.
For the record... During Pelosi's first year as Speaker in 2007 the deficit was $160 billion. The national deficit since then reached an all-time record of $1.4 Trillion after the failed stimulus and record spending by Democrats. This was more than eight times larger than what it was when Pelosi and Democrats took over in 2007.
