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Read my lips....."pay as you go, no new deficit spending"

Discussion in 'BBS Hangout: Debate & Discussion' started by OddsOn, Oct 25, 2010.

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  1. OddsOn

    OddsOn Contributing Member

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    I guess I must be missing something here....doesn't your word mean anything anymore?

    Debt Has Increased $5 Trillion Since Speaker Pelosi Vowed, ‘No New Deficit Spending’

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    When Rep. Nancy Pelosi (D-Calif.) gave her inaugural address as speaker of the House in 2007, she vowed there would be “no new deficit spending.” Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department.

    "After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” Pelosi said in her speech from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."

    Pelosi has served as speaker in the 110th and 111th Congresses.

    At the close of business on Jan. 4, 2007, Pelosi’s first day as speaker, the national debt was $8,670,596,242,973.04 (8.67 trillion), according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. At the close of business on Oct. 22, it stood at $13,667,983,325,978.31 (13.67 trillion), an increase of 4,997,387,083,005.27 (or approximately $5 trillion).

    Pelosi, the 60th speaker of the U.S. House of Representatives, has added more to the national debt than the first 57 House speakers combined.

    The $4.997-trillion increase in the national debt since she took the gavel is more debt than the federal government amassed from the speakership of Rep. Frederick Muhlenberg of Pennsylvania, who became the first speaker of the House on April 1, 1789, to the start of the speakership of Rep. Newt Gingrich of Georgia, the 58th speaker, who took up the gavel on Jan. 4, 1995.

    The national debt first topped $5 trillion on Feb. 23, 1996, more than a year into Gingrich’s speakership.

    Gingrich served as speaker in the 104th and 105th Congresses, officially taking the office on Jan. 4, 1995 and leaving office on Jan. 3, 1999. During that period, according to the Treasury Department, the national debt increased $812.4 billion dollars ($812,423,595,162.98), rising from $4.8 trillion ($4,801,793,426,032.89) to $5.6 trillion ($5,614,217,021,195.87).

    Rep. Dennis Hastert (R-Ill.), the 59th speaker, who presided over the 106th, 107th, 108th and 109th Congresses (serving as speaker from Jan. 6, 1999 to Jan. 3, 2007), enjoys the distinction of having increased the debt more than any other speaker except Pelosi. During Hastert’s time, the national debt increased $3.1 trillion ($3,061,785,703,851.74).

    Thus far (the 111th Congress will not be done until the end of the year), Pelosi has increased the debt by an average of $2.5 trillion for each Congress she has led as speaker. Hastert increased the debt by an average of about $785 billion per Congress, while Gingrich increased the debt by an average of $406 billion per Congress.

    Under the U.S. Constitution, the federal government cannot spend any money that has not been approved by congressional appropriations; and, by congressional precedent, appropriations bills originate in the House.

    "No money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law," says Article 1, Section 9, Clause 7 of the Constitution.

    “By precedent, appropriations originate in the House, with the Senate following suit,” says the House Rules Committee in an explanation of the appropriations process.

    Annual federal expenditures have increased by about $730 billion in the Pelosi era, while annual deficits have increased almost 8 fold. In fiscal 2007, when Pelosi became speaker, the federal government spent $2.73 trillion and ran an annual deficit of $162.8 billion, according to the Treasury Department. In fiscal 2009, the federal government spent $3.52 trillion and ran an annual deficit of $1.4157 trillion. In fiscal 2010, the federal government spent $3.46 trillion and ran an annual deficit of $1.2941 trillion.

    “The 2010 deficit was equal to 8.9 percent of gross domestic product (GDP), CBO estimates, down from 10.0 percent in 2009 (based on the most current estimate of GDP),” the Congressional Budget Office said in its October Monthly Budget Review. “The 2010 deficit was the second-highest shortfall—and 2009 the highest—since 1945, relative to the size of the economy.”
     
    #1 OddsOn, Oct 25, 2010
    1 person likes this.
  2. mc mark

    mc mark Contributing Member

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    You said a mouthful brother!
     
    #2 mc mark, Oct 25, 2010
  3. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    The part that you missed is that she has kept her promise. You have watched the debt go up because of the spending policies put into place by the previous administration.

    Of course, you would know that if you got news from sources other than Faux "News."
     
    #3 GladiatoRowdy, Oct 25, 2010
  4. Rashmon

    Rashmon Contributing Member

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    Trueer words were never spoken. Acknowledging you have a problem is the first step to getting help.
     
    #4 Rashmon, Oct 25, 2010
  5. Johndoe804

    Johndoe804 Member

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    ...And the one before that, and the one before that, ad infinitum. Actually, we watched the debt go up because we keep letting Congress blow money on bull****. What a pathetic argument! Don't get me wrong -- I'm not supporting the Bush administration, or any administration before that. But, it isn't the executive branch that appropriates funds, it is the legislature! You're argument would be much better if you'd neglected to post anything. But that's alright. You're ignorance is impressive in its own light.
     
    #5 Johndoe804, Oct 25, 2010
  6. Major

    Major Member

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    I don't think you understand the concept of PayGo and as a result, completely missed the point of the post you were referring to. Ignorance, indeed.

    [​IMG]
     
    #6 Major, Oct 25, 2010
  7. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    At least my ignorance allows me to post without the typos so prevalent in <b>you're</b> [sic] post.

    I will admit that I am ignorant of anything said on Fox "News," so I may very well be ignorant of your [correct spelling] "facts."

    [snicker]
     
    #7 GladiatoRowdy, Oct 25, 2010
  8. SunsRocketsfan

    SunsRocketsfan Member

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    Agreed.. McMarks and Gladtoroudy or whatever his name is are just plain ignornant. Sadly they fail to see the hyprocrissy in their one line blank statements. All they keep doing is blaming the Bush administration and Fox news.
    Pelosi is a failure and one of the most partisan and dividing speaker of the houses we have had. She has done a horrible job and needs to go. Most Americans see this but apparently we have some really blind extreme liberals on this board.
     
    #8 SunsRocketsfan, Oct 25, 2010
  9. SunsRocketsfan

    SunsRocketsfan Member

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    What is up with the personal attacks?
     
    #9 SunsRocketsfan, Oct 25, 2010
  10. Major

    Major Member

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    ...

    Hmm, so you say they just use blanket statements and blame Bush. And yet, you provide no actual examples here and just use blanket statements to blame Pelosi. Ignorance, indeed. And hypocrisy added to the mix.
     
    #10 Major, Oct 25, 2010
  11. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    LOL

    It is too bad that many conservatives (apologies to refman, this does not apply to him) don't seem to have a grasp on the actual facts.
     
    #11 GladiatoRowdy, Oct 25, 2010
  12. mc mark

    mc mark Contributing Member

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    Most Americans that are ignorant and get their news from Fox

    You do realize more legislation has been passed under the Pelosi led congress than most in recent history? She has been one of the strongest Speakers we have had in decades.

    Say what you want about her, but being complacent isn't one of them.
     
    #12 mc mark, Oct 25, 2010
  13. Major

    Major Member

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    Yes, what is up with that?

    McMarks and Gladtoroudy or whatever his name is are just plain ignornant.

    ...

    but apparently we have some really blind extreme liberals on this board.


    More hypocrisy, I see.
     
    #13 Major, Oct 25, 2010
  14. SunsRocketsfan

    SunsRocketsfan Member

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    It's a fact Americans are upset with Pelosi. Just look at her approval ratings. Don't need to go further than that.
     
    #14 SunsRocketsfan, Oct 25, 2010
  15. GladiatoRowdy

    GladiatoRowdy Contributing Member

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    I would be hypocritical if I didn't point out your typo in this post...

    A Pelosi <b>lead</b> Congress would sink in water, I think you were looking for a Pelosi <b>led</b> Congress.

    ;)
     
    #15 GladiatoRowdy, Oct 25, 2010
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  16. Major

    Major Member

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    Of course they are. And they hate Republicans too. And Obama. And everyone else. Of course, none of that has anything to do with the topic of deficit spending and what is responsible the national debt - you know, the actual topic of this thread and the post you were responding too.

    Like you said, blanket statements are an excellent judge of ignorance.
     
    #16 Major, Oct 25, 2010
  17. SunsRocketsfan

    SunsRocketsfan Member

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    I would say there are two topics here. One is deficit spending and the other is who is in power and responsible for it. Pelosi is one of the leaders that have been in power the last 2-3 years and increased spending. Americans are clearly upset with all of congress but who has been the leader of congress or the House of Rep? I'll be happy when we get a new Speaker of the House I don't care which side its from just anyone other than Pelosi
     
    #17 SunsRocketsfan, Oct 25, 2010
  18. SunsRocketsfan

    SunsRocketsfan Member

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    Alright... you are right... my bad on that. I can own up to it.
     
    #18 SunsRocketsfan, Oct 25, 2010
  19. rhadamanthus

    rhadamanthus Contributing Member

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    Your ability to make a bigger and bigger fool of yourself on this board is truly impressive.
     
    #19 rhadamanthus, Oct 25, 2010
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  20. Rocketman95

    Rocketman95 Hangout Boy

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    post #9 following post #8 just two minutes later indicates someone got dropped on their head as a baby. or an alzheimer's patient.
     
    #20 Rocketman95, Oct 25, 2010
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