Thanks to out-of-control spending, America’s national debt has grown dramatically in recent years. It’s a problem that the coronavirus pandemic has only made worse, with the Treasury Department reporting that America’s debt stood at over $26 trillion as of June 23.
Article I of the U.S. Constitution makes clear that government spending power belongs to Congress, and in a Wednesday op-ed for Townhall, columnist Terry Jeffrey took aim at the woman in charge of that body’s lower chamber. According to Jeffrey, the numbers show House Speaker Nancy Pelosi (D-CA) has overseen record-setting increases in the national debt.
“In the 2,000 days that Speaker Nancy Pelosi has now served as the leader of a division of the federal government that the Constitution gives authority over all appropriations, the federal debt has increased by a record $9,655,515,485,628.06,” Jeffrey reported Wednesday.
He went on: “That is more than all the debt the federal government accumulated ($8,670,596,242,973.04) under all of the House speakers who served before Pelosi first took that position on Jan. 4, 2007.”
The “Queen of Debt”
Pelosi first became speaker after Democrats won a majority of the House of Representatives in the 2006 mid-term elections, according to a biography listed on her official website. Her second tenure began after Democrats retook the House in 2018.
Besides being the first woman to serve as House speaker, the long-time San Francisco Democrat is truly in a league of her own when it comes to handing out public money.
In his Wednesday op-ed, Jeffrey points out that “even when the historical figures are adjusted for inflation (using the Bureau of Labor Statistics inflation calculator), no recent speaker has come close to presiding over as steep an increase in the debt as Pelosi has.”
“None of her predecessors comes close to that mark,” Jeffrey wrote. “She is, indisputably, this nation’s Queen of Debt.”
“Her place in history”
The columnist acknowledged that Pelosi’s “immediate predecessor, Paul Ryan, comes closest,” noting that the nation’s financial load grew by over $3.2 billion for each of the 1,177 days that Ryan held the House gavel.
While a substantial amount, “it’s still 32.3% less than” the $4.8 billion in new daily debt that Speaker Pelosi has managed to rack up, however. “It will mark her place in history,” Jeffrey wrote of the California Democrat.
Other pricey House speakers named by Jeffrey included Republicans John Boehner, Dennis Hastert, and Newt Gingrich. Looking forward, however, the columnist says we can only hope Pelosi’s successor doesn’t follow in these footsteps.
“Americans should hope that when Pelosi leaves the speakership, she is not succeeded by someone who shares her ability to borrow and spend — even when serving with Republican presidents,” he concluded in his piece for Townhall.