Pelosi on Deficit Reduction: "You Cannot Achieve What You Set Out To Do If You Say It's Just About Cutting"

"All this talk about tax cuts, in the Bush years the Republicans said that tax cuts would produce jobs, they didn't, they produced a deficit."

Should anyone listen to a word from Nancy Pelosi about deficit reduction? On Jan. 4, 2007, the Pelosi’s first day as Speaker, the national debt was $8,6 trillion The day she handed over the gavel on Jan. 5, 2011, the deficit $14.01 trillion, an increase of over $5 trillion.

"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” -Nancy Pelosi January 4, 2007