Nancy Pelosi: “Tax Cuts Are Spending” …(Huh?)
How do these people get elected?… How?
They prove over and over that they know absolutely nothing about economics.
Last week she said the US doesn’t have a spending problem.
Today Nancy Pelosi said, “Tax cuts are spending.”
CNS News reported:
House Minority Leader Nancy Pelosi (D.-Calif.) said today that the government must cut spending, and then explained that: “Tax cuts are spending.”
“Our whole budget is what $3.5 trillion,” Pelosi said at a Capitol Hill press conference. “So, when we talk about reducing spending, we certainly must, and we certainly have–$1.6 trillion in the previous Congress, $1.2 of it in the Budget Control Act.
“But spending is also related to tax cuts,” said Pelosi. “Tax cuts are spending. Tax expenditures, they are called. Subsidies for big oil, subsidies to send jobs overseas, breaks to send jobs overseas, breaks for corporate jets. They are called tax expenditures. Spending money on tax breaks.”
Remember – When Pelosi’s lips are moving, she’s lying.
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. She never once reduced spending.