I'm not sure I would take weekly standard as a news site, but Pelosi was probably being a little hyperbolic. To be sure, the proposals of the TP would cause fundimental changes in the way our federal government responds to economic problems and crises. Those states which have balanced budget provisions in their constitutions [like mine -FL} can to some extent depend on both the federal government to bail them out, or raise taxes to balance the budget. The TP proposals would effectively remove the Fed Govt from the ability to raise taxes to balance its budget - even in times of clear emergency, as well as drastically limit its ability to act as a source of last resort fro the states.. It would reduce our advanced developed economy to that of a third world nation - one with a few very rich people and a lot of very poor people.
I'd be one of the rich - would you?