Over the weekend, Nancy Pelosi told “Fox News Sunday” that it would almost be a “false argument” to say that we have a spending problem in this country. You can watch the video here, but let me give you the gist of what she told Chris Wallace.
Nancy Pelosi: “So, it isn't as much of a spending problem as it is a priorities [problem], and that's what a budget is, setting priorities...”
“Here's the thing, 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 more jobs, more revenue coming in. 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.”
Either Nancy Pelosi is truly ignorant to the facts, or she is counting on my fellow Americans not being smart enough or engaged enough to call her out. If you look at the recent report from the Congressional Budget Office, we learned a few things that should make Nancy Pelosi re-think her comment.
- According to the Wall Street Journal, “The CBO predicts that tax receipts will soar by roughly 25% over the next three years with higher tax rates” … yet “despite the record revenue surge, CBO says federal debt held by the public will continue to rise to 76.3% of GDP this year, up from 36.3% as recently as 2007.”
- According to Philip Klein in the Washington Examiner: “Despite the fact that new tax revenue will be drastically outpacing growth in the defense budget, the nation is still projected to accumulate an additional $7 trillion in deficits over the next 10-year period, bringing the public debt to $20 trillion.”
- Also according to Klein: “By 2020, Congress could vote to eliminate all military spending and it wouldn't even be enough to cover interest payments on the national debt.”
So if we subscribe to Nancy Pelosi's theory that budgets are all about priorities, consider that last point: “By 2020, Congress could vote to eliminate all military spending and it wouldn't even be enough to cover interest payments on the national debt.” What kind of priorities does that establish for Democrats like Nancy Pelosi? Spending being a problem isn't a false argument, it is THE argument. This is the argument that Republicans need to wrap themselves around and judiciously work to communicate to the American people.