Pelosi: ‘Our GDP Will Rise When We Raise the Minimum Wage’

‘And people have more purchasing power because these are people who will spend and inject demand into the economy and therefore, our GDP will rise’

EXCERPT:

PELOSI: "Closer to 2.5. And the president had used 3% as the — as the standard. I do think that our GDP will rise when we have — when we raise the minimum wage and people have more purchasing power because these are people who will spend and inject demand into the economy and therefore, our GDP will rise. I think it will — if we had comprehensive immigration reform where everybody is brought into the system in the way that is most productive — economists tell me, 'You want to grow the economy? Have comprehensive immigration reform.' So how we not just have trickle-down to grow our economy, but how we have bubble- up, and that’s the difference of opinion between our two parties. And I think what you saw was that the tax scam that they put out there has not produced the growth that the President was boasting would happen and that it hasn’t produced the revenue. Hence, we’ve had to lift the debt ceiling earlier than maybe people had expected. So that didn’t work. It didn’t pay for itself. And it isn’t growing the economy as — to the extent that the President said it would.”

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