Legacy of Nancy Pelosi: $5 trillion added to the national debt

Remember when Nancy Pelosi promised “no new deficit spending.” Well, she wasn’t accurate. In fact, the 111th Congress managed to accomplish a stunning feet; but not something to bring about:

The federal government has accumulated more new debt—$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.

That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.

The total national debt of $13,858,529,371,601.09 (or $13.859 trillion), as recorded by the U.S. Treasury at the close of business on Dec. 22, now equals $44,886.57 for every man, woman and child in the United States.

In fact, the 111th Congress not only has set the record as the most debt-accumulating Congress in U.S. history, but also has out-stripped its nearest competitor, the 110th, by an astounding $1.262 trillion in new debt.

As Bruce McQuain points out, outgoing-Speaker Nancy Pelosi oversaw more than $5 trillion added to the national debt. Yet, she has no regrets about her time running the House, least of all lying to taxpayers.

Many of us have criticized George W. Bush for his spending, but he held Congress in check compared to the last two years of Barack Obama.

 
 


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