Nancy Pelosi (D-CA) was on Lawrence O’Donnell’s ‘The Last Word‘ last night on MSNBC in which she said the following (approx. 5:50 mark):
“The U.S. government can not default on its debt, largely accrued by President George W. Bush“
But first, as he introduces the interview with former Speaker Pelosi, Lawrence O’Donnell lets a little fib slip. About :50 seconds in, Larry says one of the two ways to solve the budget crisis is to ‘raise revenue.’ While I agree eliminating tax deductions should be on the table, you cannot have deficit reduction without reducing spending. Steve McCann, at the American Thinker, has fully debunked this claim by liberals & socialists like Larry. Washington does not have a revenue problem, it has a spending problem.
Ms. Nancy ‘Stretch’ Pelosi’s statements come from the myth that Democrats believe Bill Clinton, one of the worst President’s ever, left President George W. Bush with a $5.6 trillion dollar surplus.
Except that nothing could be further from the truth. As I have posted previously on Jim Moran, this is completely false. Under, Clinton, the debt actually increased. Read the data for yourself at this link.
While George Bush was a big spending President, Barack Obama has taken a bad situation and made it worse. In the first 19 month’s of the Obama administration, Obama added more to the national debt than the first 40 President’s combined and doubled the national debt with his failed stimulus plan.
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