There was a reappearance of the totally-debunked Nancy Pelosi debt chart recently which numerous economic institutions had already deemed it a blatant fallacy with no basis in reality. Politifact gave it a "pants on fire " rating, as in the "liar,liar pants on fire" chant we used to say as kids when we caught a friend in a blatant lie. Pelosi’s office manipulated the data and applied it incorrectly, yet that never stops the Liberal propagandists in re-telling the lies over and over again. Recently, Pelosi’s debt chart fallacy has been trying to make a comeback.. of sorts.. We can also expect this pack-of-lies-chart to be used heavily in the 2012 elections, which shows just how desperate Progressive Liberals are in facing the consequences of their massive debt spending of the past 5 years at the upcoming polls. Since all government spending legislation must originate in the House of Representatives, ( supposedly, but even that law is broken frequently today) the truth in debt numbers can be easily derived by looking at the debt-spending under past Speakers of the House. The Speaker sets the agenda and gives the orders for all spending bills under their time as the leader of the majority in the House. The last two years of G.W. Bush’s Presidency were in fact, under Nancy Pelosi’s rule in the House. (2007, 2008) AJC’s Kyle Wingfield recently penned an article titled, The Debt Charts Nancy Pelosi doesn’t want you to see. In it we see just which Speaker of the House was the biggest debt-spender, hands down:
Source: Office of Management and Budget, "Table 7.1—Federal Debt at the End of Year: 1940–2016"
The above chart shows the increase in debt as % of GDP, or Gross Domestic Product. Common sense economics dictates that as revenue increases, spending increases along with it, so this chart speaks volumes about the ex-Speaker Pelosi’s debt explosion under her period of House rule. When Liberals try to attack this debt-chart, their main rhetoric always includes the supposedly unfunded wars of G.W. Bush. That nonsense is debunked by the simple fact that while Liberal Democrats ruled Congress, ( both Houses 2007 -2010) not only did they not pull our troops out of Iraq and Afghanistan, but their fearless leader started another war in Libya in which we supplied the bombs and majority of funding while hiding behind the NATO mantra. Considering that Obama didn’t even confer with Congress before our billions of dollars in bombs started dropping on Libya, how does that fit into Pelosi’s Pay-Go (supposed) rule? Kind of hard to have Congress pay as they go when they learned of the initial bombings, pretty much after they had already begun, isn’t it? Yes wars cost a lot of money yet how about asking Barack Obama, Harry Reid and Nancy Pelosi about "The Unfunded Wars" of the past 5 years under their rule just once? While you are at it, how about asking them as to why this country is running without a budget for 3 straight years now, which is illegal according to The Congressional Budget Act of 1974 ?
As is the pattern recently in the Liberal Congress, it has been the "lets pass this bill now so we can see what’s in it" path to fiscal insolvency, and just worry about how to pay for it later. If we look at the amount of debt increases in the above chart, we see that we were cruising along the highway of prosperity on the Cadillac express under GOP Speakers, and now we are on the highway to debt hell in a Chevy Volt, largely due to Nancy Pelosi’s Liberal rule of the House during the past 5 years. Speaker Boehner’s spending is not in the above chart, simple because he hasn’t been the Speaker for a full year. ( He is also being stymied at any chance of enacting any form of budgetary sanity by Liberal obstructionist Harry Reid in the U.S. Senate.)
We are heading for a huge economic crash due to the irresponsible debt-spending of the past decade. To make matters worse, when we drive off of the debt cliff, we will not be doing so in the relevant comfort and safety of the once mightily-fortified-by-American-steel Cadillac’s of yesteryear, where our chances at surviving the crash are a lot better than when we hit the bottom of the debt cliff…. in a Chevy Volt. ( IF there is enough affordable electricity available to even plug in your Chevy Volt, which is very debatable considering the fact that massive, over-reaching green energy regulations are prohibiting affordable energy production throughout America today) Not to worry, if Liberals and their save-the-planet-through- crushing-our-economy bed-pal political activists get their way, we can just ride the high-speed rail off the debt-cliff.