House Minority Leader Nancy Pelosi (D-Calif.) on Sunday called sequestration “a bad idea all around” and urged a balance of spending cuts and closed tax loopholes to avoid it.

Pelosi rebuffed GOP calls for the sequester replacement to focus exclusively on targeting more spending cuts and entitlement reforms.

“It is almost a false argument to say we have a spending problem. We have a budget deficit problem that we have to address,” she told Fox News’s Chris Wallace on Sunday.

Pelosi added that the deficit and debt are at “immoral levels” and “must be reduced.”

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