Pelosi: New CBO Report a Reminder of GOP Policies That Led to Millions of Jobs Lost and Record...

speaker.gov ^

[Sub-Driver]

Press Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 01/26/2010 Pelosi: New CBO Report a Reminder of GOP Policies That Led to Millions of Jobs Lost and Record Deficits

Washington, D.C. – Speaker Nancy Pelosi issued the following statement on the 10-year budget forecast released today by the Congressional Budget Office (CBO):

“Today’s CBO report is a clear reminder of the Bush and Republican Congress-era policies that have resulted in the loss of millions of jobs, led to the worst recession since the Great Depression, and turned record surpluses under the Clinton Administration into record deficits.

“Since coming to power in January 2007, the New Direction Congress has abided by the strict ‘pay-as-you-go’ budget rules that created surpluses in the late 1990s and had been cast aside in Washington in recent years. We want to make this standard law by sending Majority Leader Steny Hoyer’s statutory PAYGO legislation to the President’s desk, taking a critical step toward ensuring fiscal discipline for the long term.

“Last year, Congress not only passed a budget that slashed the projected deficit in half over the next four years, but we also passed spending bills that invest in initiatives that work and include more of the President’s spending cuts than our Republican predecessors. In the coming days and weeks, we look forward to examining the details of the President’s proposed spending freeze and budget. We will work together to determine the best path forward for our fiscal health and to grow our economy.

“As we keep working to reduce the deficit, we recognize the need to create good-paying jobs and put our economy on the road to recovery. To bring our economy back from the brink, Congress passed the American Recovery and Reinvestment Act – funding some 2 million jobs so far, cutting taxes for 95 percent of working Americans, and keeping teachers in our classrooms and police officers and firefighters on our streets. In December, the House approved the Jobs for Main Street Act, increasing credit for small businesses and putting Americans to work rebuilding our roads and bridges – and paying for these critical investments by redirecting TARP funds from Wall Street to Main Street.

“Years of irresponsible choices – along with policies that favored corporate interests over working families – will not be reversed in a single month or year. But with smart investments, tough choices, and urgent action, Congress and the President will establish the building blocks for jobs, growth, and opportunity for all Americans.”

[Windflier]

The Dems were in control from 2006 ... their problem ... not Bush’s regardless of what Barry says ...

The average sheeple has no idea how deficits are created, nor can most of them even define the word.

Basic government and civics education in this country is so out, that Pelosi and Obama can get away with blaming Bush for the deficits they are clearly responsible for, and the sheeples won't even blink.

With concrete evidence of their unprecedented spending sitting in plain view, they yet have the gall to openly lie to the public, telling us that they're being "fiscally responsible", and are cutting the cost of government.

Pelosi can tell these bald-faced lies without fear of discovery by much of the American public, because so many of them just don't have the personal integrity, know-how, or care to do so.

[dalebert]

she needs to crawl back under the rock from where she came

[RedMDer]

[chiefqc]

And yet the tinfoil hat group on the west coast will re-elect her without blinking let alone trying to become informed.

[When do we get liberated?]

“Pay as you go” Isn’t this the Congress that spent 1.5 trillion in the first month?

[ronnie raygun]

ATTENTION!!ATTENTION!! dumb bi##h alert

[gunner03]

Yet the Republican leadership will say nothing, and this tripe will be broadcast from the rooftops by the media.

[Salvation]

Pelosi:  STOP blaming George W. Bush!

[Christian4Bush]

This C U next Tuesday is weapons grade stupid.

When I’m reminded of Bush...I’m reminded of JOBS. Tax cuts. (and I am not rich) An adult in the White House, even for all his flaws.

[cranked]

[ez]

Congress controls the pursestrings. This economy went south just 10 months after the Dem took over Congress in 2006. Why was Bush able to keep the economy afloat for six years then it suddenly turned south ? Because the Democrat Congress spent like thieves and blamed it on W.

[wmposh]

People turned on Bush 2006 because of the war and spending.
Up to that time the people where on board. If you notice after the election of Scott Brown the Bush coalition is coming back or willing to. In the Pelosi mind she remembers the surplus during Clintons era. Working with Newt they passed the Welfare Reform which moved people off welfare a cut in an entitlement putting people back to work.
An era where cuts to defense because no more cold war spending. His administration had .com bubble burst which led to the inherited recession along with tax increase to Bush.
A war comes along and history always needs to go into debt and deficits, why because a war is not budgeted for.

[ez]

People tend to focus only on the President, and we are partly to blame for accepting the false premise. I bet if you did a chart of the economy and who controlled CONGRESS it would be quite revealing.

To wit, Clinton had a R Congress for 6 years.

[backhoe]

Disgusting… Shameless Liar Pelosi Tries to Pin Obama’s Deficit on Bush & GOP

Tuesday, January 26, 2010, 12:06 PM

Jim Hoft

It figures. Barack Obama and Congressional Democrats tripled the national deficit in one year. They will likely top that this year.

Today Nancy Pelosi tried to pin these awful numbers on the GOP.
The Hill reported:

House Democratic leaders said a report by the Congressional Budget Office (CBO) showing a $1.35 trillion deficit in 2010 was the result of policies put in place by President George W. Bush and Republicans in Congress, who controlled the House and Senate until the 2006 elections.

“Today’s CBO report is a clear reminder of the Bush and Republican Congress-era policies that have resulted in the loss of millions of jobs, led to the worst recession since the Great Depression, and turned record surpluses under the Clinton Administration into record deficits,” House Speaker Nancy Pelosi (D-Calif.) said in a statement.

The CBO report also predicted a “muted” economic recovery in the coming years, which Democrats in the House and Senate hope to address through a new spending bill focused on job growth in the coming weeks.

“90 percent of the projected deficit is due to the cost of the Bush economic collapse and Bush policies like his unpaid for tax cuts for the wealthy,” said House Democratic Caucus Chairman John Larson (Conn.), the fourth-ranking member of the House. “The devastating fiscal hole he left us in was far worse than anyone could have imagined.”

For the record, during the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth. These were amazing accomplishments considering the unexpected challenges. You certainly didn’t read much about this in the press.

But, things changed in 2007. Democrats took over Congress, gas prices started to rise, and at the end of the year and into 2008 several financial institutions started to crumble as the housing bubble began to burst. Of course, it should be noted that President Bush publicly called for the reform of Fannie Mae and Freddie Mac 17 times in 2008 alone before Congress acted. Democrats, on the other hand, blocked reform numerous times. It was later reported after the 2008 election that Bush had nothing to do with the financial crisis. Hoover Institution visiting fellow Scott S. Powell wrote in Barron’s in February of 2009 that the present crisis began in the 1970s, during the Carter administration, with passage of the Community Reinvestment Act to stem bank redlining and liberalize lending in order to extend home ownership in lower-income communities. This risk was acknowledged in the Bush administration’s first fiscal-year budget, released in April 2001. Sadly these warnings were ignored by Congress.

Nancy Pelosi is hoping that you will not remember these facts.
She is a shameless liar.

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