Nancy Pelosi is passing her gavel to someone else (most likely McCarthy R-CA), but her legacy like that of fellow spendaholic John Boeher (RINO-Ohio) and Paul Rino (RINO-WI) is reckless spending and debt load.
Since 2007 when Pelosi took the gavel as Speaker of the US House, Federal debt has risen from $5.8 trillion in Q4 2006 to $31.4 trillion today, an increase of over 250%. Pelosi’s spending spree was continued by RINOs Boehner and Ryan before SanFranNac retook the gavel and continued Congress’ spend-a-holic ways.
Nothing has been the same since the financial crisis and Pelosi became Speaker in 2007. Notable is the wild spending with the gap between spending and tax revenue soaring.
Since 2007 and SanFranNan, Medicare spending has exploded along with Medicaid.
Under peace-loving Pelosi, defense spending has exploded.
And then we have unfunded liabilites from the Federal government at a staggering $173.3 trillion, which is 452% of Federal debt. What did Pelosi (or Boehner/Ryan) do to fix this problem? Nothing. She kept spending like crazy.
It would be nice if Biden told every illegal immigrant that on becoming a citizen, you owe $519,286 in terms of unfunded liabilities and a $94,240 for their share of Federal debt. But, of course, that will never happen.
The S&P 500 index is down -2.44% today as M2 Money growth crashes.
Then we have Nancy Pelosi sneaking Obamacare into law by not giving Republicans time to read the massive Obamacare bill.
Again, RINOs Boehner and Ryan followed Pelosi’s massive spending spree with even more spending and debt.
Here is a painting of spendaholic Nancy Pelosi with fellow spendaholic John Boehner.
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