The Hill reported:
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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. The deficit has been over a trillion dollars every year since Obama has been in office.