The Rise and Fall of Hope and Change

The Rise and Fall of Hope and Change



Alexis de Toqueville

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.
Alexis de Tocqueville

The United States Capitol Building

The United States Capitol Building

The Constitutional Convention

The Constitutional Convention

The Continental Congress

The Continental Congress

George Washington at Valley Forge

George Washington at Valley Forge


Monday, October 25, 2010

Debt Has Increased Five Trillion Dollars Since Speaker Pelosi Vowed: No New Deficit Spending

From Western Jouranlism.com:

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


Posted by Caleb on October 25, 2010 · Comments (13)





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.



Read More: By Terence P. Jeffrey, CNS News

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