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Nancy Pelosi Hoot of the Day "Government Spending Reduces Debt"

Speaker of the House Nancy Pelosi has amusing words of wisdom for all of us to hear.
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House Speaker Nancy Pelosi from YouTube video clip, annotations by Mish

House Speaker Nancy Pelosi from YouTube video clip, annotations by Mish

Words of Theoretical Wisdom

"When we're having this discussion, it's important to dispel some of those who say, well it's the government spending. No, it isn't. The government spending is doing the exact reverse, reducing the national debt. It is not inflationary."

US National Debt In Practice

US National Debt courtesy of DebtClock.Org

US National Debt courtesy of DebtClock.Org

For a continually updated look at US national debt, please see US Debt Clock

If you haven't clicked on that link at least once, please do so now.

Down the Rabbit Hole

I went down the Alice in Wonderland rabbit hole the other day looking for Fed Chair Jerome Powell or President Biden.

Instead, I happened to overhear a conversation between Nancy Pelosi and the Red Queen.

Pelosi. "How did the US national debt get to exceed $30 trillion?"

Red Queen: "To bring down the national debt, you must spend tens of trillions of dollars much faster than you are now." 

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"Inflation is high because of inadequate government spending," added the Red Queen. 

"Thanks, I'll give a speech on this," responded Pelosi, ending the conversation. 

Biden Down the Rabbit Hole

Largely Putin's Fault

Apologies offered, but I missed President Biden's conversation with the Red Queen.

The result was Biden's Lie of the Day: "Make No Mistake, Inflation is Largely the Fault of Putin"

This post originated on MishTalk.Com.

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