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cassandra and sara's daddy:
The following text is a verbatim transcript of of Rep. Nancy Pelosi's acceptance speech as Speaaker of the House of Representatives in 2007


"After years of historic deficits, this new Congress will commit itself to a higher standard: pay as you go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.

WASHINGTON (AP) - What is $1.42 trillion? It's more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada's, and more than $4,700 for every man, woman and child in the United States.

It's the federal budget deficit for 2009, more than three times the most red ink ever amassed in a single year.

And, some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis.
Treasury figures released Friday showed that the government spent $46.6 billion more in September than it took in, a month that normally records a surplus. That boosted the shortfall for the full fiscal year ending Sept. 30 to $1.42 trillion. The previous year's deficit was $459 billion.

As a percentage of U.S. economic output, it's the biggest deficit since World War II.



"In order to achieve a new America, we must return this House to the American people. So our first order of business is passing the toughest ethics reform in history.

Just Google Charle Rangel...nuff said...

This new Congress doesn't have two years or 100 days to renew itself.
"Let us join together in the first 100 hours to make this Congress the most honest and open in history.

Democrats on the Energy and Commerce Committee met behind closed doors Monday as they worked to become the third and final House committee to approve health care legislation.
http://www.huffingtonpost.com/2009/07/20/waxman-health-care-on-tra_n_241610.html
Just one example of many "closed door sessions" held by the House.

This openness requires respect for every voice in the Congress.

Google Alan Grayson's remarks and Pelosi's response.

Lennyjoe:

--- Quote ---And, some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis
--- End quote ---

The seed is already planted, right in the main office of the White House. 

MicroBalrog:

--- Quote ---And, some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis.
--- End quote ---

Obviously, cutting spending is 'impossible'.

RevDisk:

--- Quote from: MicroBalrog on October 17, 2009, 07:15:57 PM ---Obviously, cutting spending is 'impossible'.

--- End quote ---

It literally is, politically speaking.  Except for token amounts.  Every US politician has a number of special interest groups (recycled tire processing, neoprohibitionist mothers, some racial or religious group, etc) that get them the money to stay elected.  They get the votes via money and bringing in the pork. 

Do you know what would happen if someone of real power proclaimed that we need to vastly simplify the tax code, end all corporate subsidies, end the welfare state, etc as we can afford none of them anyways?  They'd be lucky if they were not given the Caesar treatment.

Standing Wolf:

--- Quote ---...some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis...
--- End quote ---

Never pass up a good crisis, right?

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