RUSH: Have you heard about what Pelosi said? Since we're talking about the Democrats, this is relevant, and I've got a companion story to go along with this sound bite. Let me tell you the companion story first. I guess this comes under the umbrella of surreal, Twilight Zone, living in two different worlds. We're not even on the planet. I think these Democrats are on that asteroid that might be getting close to earth because of global warming. Lori Montgomery. This is not a blog. This is the Washington Post headline: "Obama: Job of Debt Reduction is Nearly Done."
The job, the effort to reduce our debt is nearly done. Did you know that? "One thing you won't hear when President Obama delivers his State of the Union address Tuesday: An ambitious new plan to rein in the debt," because it's already done! "By the administration's math, Washington needs to enact only another $1.5 trillion in 10-year savings to hit the $4 trillion target, White House economic adviser Jason Furman told reporters last week. At $1.2 trillion, the automatic cuts, known as the sequester, quite nearly fit the bill."
So when the sequester hits, we'll have nearly $4 trillion in debt reduction and that's it. The job's done. Did you know that? Now, they're gonna say this. They are saying it. Pelosi, too. As far as the low-information voters are concerned, "Okay, Obama's fixed that now." We don't have a debt problem now, folks. We're no longer spending too much. We're no longer spending more than we have 'cause Obama's fixed it. I just... How does this get written? How does somebody write this? You assume a journalist has gotta be somewhat smart, and that's mistake we make.
We overestimate what they know. We overestimate their innate intelligence. "In recent days, the White House has pressed the message that, if policymakers can agree on a strategy for replacing across-the-board spending cuts set to hit next month, President Obama will have achieved his debt-reduction goals." And the job's done. Okay, so check that off. That one's done, major achievement. Here's Pelosi Sunday morning on Fox News Sunday. Chris Wallace said, "You talk about growth. Even Christina Romer, the former head of the Council of Economic Advisors for the president says that you increase taxes, that's also gonna hurt growth."
PELOSI: Well, it's about timing, it's about timing, and it's about timing as to when you make cuts. You have to recognize that, which cuts really help us and which cuts hurt our future, and cuts in education, scientific research, and the rest are harmful, and they are what are affected by the sequestration. So it is almost a false argument to say we have a spending problem. We have a budget deficit problem that we have to address.
RUSH: We do not have a spending problem? It's a false argument to say we have a spending problem. What we have is a budget deficit problem. Yeah. Deficit. We're not collecting enough money. We're not taxing enough. We don't have a spending problem. Here's her full statement. "Well, I think that sequestration's a bad idea all around. The fact is we've had plenty of spending cuts. What we need is growth. We need growth with jobs. So again, we have to make a judgment about how do we get growth with jobs. That's where the real revenue comes from."
Now, wait a minute, I thought it came from unemployment benefits. She's also said that. Nancy Pelosi is the author of the statement that you get more job creation with unemployment benefits than any other program. She has said that. Now she's saying we need growth with jobs. That's where the real revenue comes from. Now, folks, that statement, taken by itself, happens to be true. You get growth with jobs. The way it happens is, more people working equals more people paying taxes, equals economic growth. I mean, the more people that are working, the more output, GDP goes up, growth happens, and more taxes are collected because there are more people paying them.
Now, I don't know if she means it that way, but it's entirely true. Growth with jobs is where real revenue comes from. You don't get it by cutting into education, cutting back on investments in science, food safety, you name it. "So it isn't as much of a spending problem as it is a priorities. And that's what a budget is, is setting priorities. Nothing brings more money to the Treasury than investments in education of the American people."
Okay, so she's, again, wandering aimlessly here in vain search of a thought. "So if you recognize that, which cuts really help us and which cuts hurt us, and cuts in education, scientific research and the rest are harmful, and they are what are affected by the sequestration. So it is almost a false argument to say that we have a spending problem. We have a budget deficit problem." She's saying we've had plenty of spending cuts, so we don't have a spending problem. We've got a budget deficit problem. And this woman was Speaker of the House for I don't know how many years. This woman is the leader of the Democrats in the House even now.
But "it's a false argument to say we have a spending problem. We have a budget deficit problem." So Obama has fixed the debt. Once the sequestration happens the job of debt reduction's done. He's reduced the debt. Now, in truth the debt has grown seven trillion since he took office and it's gonna keep growing, but it doesn't matter, they fixed it. The debt problem's been fixed and we don't have a spending problem. We have a deficit problem. And this makes total sense to the low-information voter. It just does.
RUSH: Yeah, it's impossible to follow this Pelosi stuff. I mean, it's just insane. She's lying just like Reid did last weekend, said that there'd been $2.6 trillion in nondefense spending cuts, there's already been 2.6. See, with 1.4 trillion more, we're up to four trillion, and the debt problem is taken care of. They're just making it up. I don't know what to do about it. Folks, you can't negotiate with it. There's no common ground. I mean, all you can do is laugh at it. I mean, it is what it is. They won. They get to sink or swim with their own on this.