Pelosi: "It Is Clear We Must Enter an Era of Austerity"

Reporting on Politics and Policy.
July 25 2011 5:02 PM

Pelosi: "It Is Clear We Must Enter an Era of Austerity"

That's the sound of the Democratic Party's leader in the House caving on the argument that motivated Democrats for the past three years; or 80 years, if you want to get smart about it. But that's the statement in support of the Reid Plan: "It is clear we must enter an era of austerity; to reduce the deficit through shared sacrifice."

David Weigel is a Slate political reporter. You can reach him at daveweigel@gmail.com, or tweet at him @daveweigel.