Pelosi: "It Is Clear We Must Enter an Era of Austerity"
| Posted Monday, July 25, 2011, at 5:02 PM ET
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."
