By Joe Newby
On Thursday, House Minority Leader Nancy Pelosi (D-Calif.) said at a Capitol Hill press conference that the government must cut spending, and explained that “tax cuts are spending,” CNS News reported.
“Our whole budget is what, $3.5 trillion,” she said. “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,” Pelosi added. “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.”
The Washington Times said that Pelosi’s statement implies that all wealth generated by businesses and individuals already belongs to the government.
A commenter at CNS News translated her comments: “The federal government owns all of your income and assets. We, the ruling class, believe that your take home income is what we deem you should be allowed to keep. Also, we can create new laws and regulations that we exempt for ourselves.”
But last month, Pelosi claimed there was no spending problem.
“It is almost a false argument to say that we have a spending problem. We have a budget deficit problem,” she said.
CNS said that in fiscal year 2006, the year before Pelosi became Speaker, the government spent $2.65 trillion. By fiscal 2011, the last year that Pelosi was Speaker, federal government expenditures increased by about $940 billion to $3.59 trillion.
Saying that liberal Democrats like Pelosi “prove over and over that they know absolutely nothing about economics,” the Gateway Pundit’s Jim Hoft asked: “How do these people get elected?”
http://www.examiner.com/article/nancy-pelosi-tax-cuts-are-spending