Washington (CNN)- Republican presidential hopeful Michele Bachmann says that increasing the debt ceiling won’t solve the country’s fiscal woes.
“The government hasn’t gone on a diet, it’s private business that has gone on a diet and it’s time to have tough love and just do the opposite. It’s federal government that needs to go on a diet,” Bachmann told Fox’s Bill O’Reilly on Monday.
The Minnesota congresswoman says she is not nervous about the government defaulting on its debt. Even if congressional leaders and President Barack Obama come to an agreement on deficit reduction, Bachmann is one Republican who opposes an increase to the debt limit.
Treasury Secretary Timothy Geithner warned negotiators on Sunday that the outcome could be catastrophic for Americans if the debt limit isn’t raised, detailing that the United States will not be able to meet some of its obligations to foreign investors, creating a domino effect that will compromise the worth of the U.S. dollar and hurt the stock market.
“He’s wrong because all you have to do is look at the books. We have sufficient revenue coming in,” Bachmann said, “Everybody needs to get their feathers down and not ruffled.”
A majority of GOP presidential candidates have pledged to sign the “Cut, Cap and Balance” commitment to cut government spending, but Bachmann wants a pledge that will go further, including a motion to completely defund “Obamacare.”
The Hawkeye native campaigned in Indianola, Iowa, on Monday, where she spoke to workers at a cement-handling machine company.
“You cut spending first, the last resort is you raise taxes,” Bachmann said, adding that what this country needs is a president with a “titanium spine.”