Pelosi: Deficit Tripled and We're Not Getting Anything For It

GATEWAY PUNDIT reports...

Nancy Pelosi told leftist supporters today that the the reason Americans are mad about their record spending is that “they’re not getting anything for it.”

And, that’s why she wants a new Stimulus Bill!

FOX News reported, via Ace:

Building the case for a brand new jobs-creation bill, House Speaker Nancy Pelosi says most Americans would not mind inflating the already-gaping deficit in exchange for more jobs.

The California Democrat said on a conference call Tuesday that Americans could “absorb” the hit to the federal budget, and she argued that their biggest complaint is not that the deficit is big — it’s that they’re not seeing any benefit in return for increasing the U.S. debt load.

Despite the $787 billion stimulus package passed in February, unemployment climbed to 10.2 percent in October. While critics cite the jobless rate as a sign that the stimulus has failed, Pelosi argues that the federal government is just not trying hard enough.

“We have to shed any weakness that anybody may have about not wanting to be confrontational on this subject for fear that we’d be labeled not sensitive to the deficit,” Pelosi said, in a recording posted by Think Progress.

“The American people have an anger about the growth of the deficit because they’re not getting anything for it.”

So now they want to do it all over again.

Associated Press: Deficit to be $2 Trillion Bigger Than Estimated

WASHINGTON (AP) -- The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

Ten-year forecasts are volatile figures subject to change over time. But the higher number will likely create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt.

Earlier this week, the White House revealed that it expects a budget deficit for the fiscal year ending Sept. 30 to be nearly $1.6 trillion. That figure was lower than initially projected because the White House scratched out $250 billion that it had initially added to the budget as a bank rescue contingency. The administration ultimately did not ask Congress for that money.

Still that number, together with the 10-year projection, represents a huge obstacle for an administration trying to undertake massive policy overhauls in health care and the environment.