White House says yes, we have a spending problem

After Nancy Pelosi's statement last week that it's "almost a false argument to say that we have a spending problem," much mirth-making was had at the expense of the clueless Minority Leader. So yesterday, the White House was forced to admit that, yeah, we do indeed have a spending problem. Politico: White House press secretary Jay Carney said Monday that Washington does have a spending problem and the main driver of that problem is health-care costs. The remarks followed a statement by House Minority Leader Nancy Pelosi on Sunday that "It is almost a false argument to say we have a spending problem." "Of course the president believes that we have a spending problem," Carney said at a White House briefing, adding that the problem "is specifically driven by -- and I think every economist worth, whose insights into this area are worth the paper on which his or her PhD is printed, would tell you that  -- the principle driver, when it comes to spending, of our deficits...(Read Full Post)