Thursday, January 6, 2011

Speaker Pelosi’s: $5.34 Trillion in New Debt

Washington DC, Jan 6, 2011. In the 1,461 days that Rep. Nancy Pelosi, D-CA, served as speaker of the House, the national debt increased by a total of $5.34 trillion or $3.66 billion per day, according to statistics issued by the U.S. Treasury.

During her tenure, she amassed more debt than the first 49 speakers combined.

The total national debt did not climb above $5.343 trillion (the amount amassed during Pelosi’s four years as speaker) until Feb. 26, 1997, when Rep. Newt Gingrich, R-GA, was serving as the nation’s 50th House speaker.

When Pelosi was sworn in on Jan. 4, 2007, the national debt stood at $8,67 trillion. At the close of business on Jan. 4, 2011, her last full day in the speakership, it stood at 14,01trillion, an increase of $5,34 trillion.

The irony of this is that Nancy Pelosi ran on a promise to "balance the budget" and "cut the deficit" back in 2006. She told us that if we gave her a majority, she would use "pay-as-you-go" (PAYGO) budget  methods to assure no increase in the national debt.

But that's not the way it worked out for the nation, as Pelosi became the biggest spender in House history

Pelosi served as speaker for four full years, including one leap year, making her time in that office 1,461 days. On average, the federal government added $3.66 billion in new debt for each of those days.
Speaker Pelosi didn't help the problem any when she decided she needed a private jet, and that key Democrat House members should be sent on lavish trips to various Global Warming meetings.

Pelosi didn't just outspend her predecessors in the total volume of debt added to the national debt during her tenure as speaker, but she also set a record for the rate at which new debt was added.

In fact, Pelosi added debt at a rate more than three times faster than her nearest competitor.

No comments:

Post a Comment