Bachmann holds her ground against raising debt ceiling
July 11th, 2011
10:43 PM ET
7 years ago

Bachmann holds her ground against raising debt ceiling

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.”

Filed under: 2012 • Debt • Michele Bachmann
soundoff (36 Responses)
  1. A Real American

    I love it. Global capitalism is eating itself and I get to watch all the "Real Americans" lose their retirements and homes. It doesn't get any better than this. Keep voting for the corporatist dems and republicans and this is what you get, suckers!

    July 11, 2011 10:49 pm at 10:49 pm |
  2. Joshua Ludd

    Yeah, Mrs. Bachmann... you don't go about cutting your deficit or your spending by defaulting on your debts. That is a recipe for economic suicide... must like not keeping the banks solvent with a bailout was. Now, neither of these realities are ideal, and we should definitely work to correct both... but they are exactly that: Realities. Just because it is unpleasant or doesn't poll well doesn't mean we can just not do it and expect no consequences. So, if you want to be a serious candidate with a hope of winning even your party's nomination, then get real, suck it up and endorse raising the debt ceiling.. and stop saying you will make the nation default on its debts. You either don't actually understand the issue and what is at stake... or you are just telling people what you think they want to hear. Either way, no one who does so should ever be president.

    July 11, 2011 10:51 pm at 10:51 pm |
  3. Four and The Door

    We need to be focused on working to bring the debt limit down. It is way too high right now and costing America dearly. It can be done and we have a moral imperative to figure out how to do that. Who do you think will even make an effort, Barack Obama or Michele Bachmann?

    July 11, 2011 10:55 pm at 10:55 pm |
  4. larry

    What we need is other ideas, is that too much to ask. REPUBLICANS

    July 11, 2011 10:55 pm at 10:55 pm |
  5. BeverlyNC

    No one cares what Bachmann thinks about the debt ceiling. Bachmann is NOT a leader and has never even introduced a single bill for all her big, worthless blabbering. She is too stupid to realize what the debt ceiling is or what will happen when the Republicans cause the US to default on our debt.
    Republicans will get educated on how clueless and worthless to the benefit of the American People when we vote ALL of them out of office in 2012 and then get our Democracy and our rights back as President Obama finishes restoring our nation.

    July 11, 2011 11:01 pm at 11:01 pm |
  6. Indy

    This coming from a woman that thinks african american children of slaves were better off then they are now. A diet has nothing to do with the financial situation going on right now and she thinks she knows more then all of the worlds top economic advisors. You can bet your last dollar that if it was Republicans asking for the debt ceiling to be raised she would be lock step and signing just like they all did seven times for Bush. She talks about econimic slavery and tries to equate it with actual slavery. One thing is certain the Republicans are the party of putting many into economic slavery and they wont rest until the middle class pays for everything, and keeps the rich getting richer. Bachmann represents everything that is wrong with Republicans. You dont sign pledges without agreeing with them and any lies she comes up with to deny the slavery paragraph just prooves she will never be responsible enough to be in high office

    July 11, 2011 11:07 pm at 11:07 pm |
  7. DonBeal

    Corporations are sitting on piles of cash. They hardly are on a diet. But Republicans like to sing that song. And Michele Bachmann has little regard for telling the truth.

    July 11, 2011 11:13 pm at 11:13 pm |
  8. A Real Patriot

    Well...she's right--it will make the problem drastically worse! The debt ceiling has NOTHING to do with the deficit or current debt. It simply gives the U.S. the authorization to pay the debts WE HAVE ALREADY INCURRED! NOT to take on new debt.

    Bachman's general ignorance is astounding as is that of the sheep who follow her. Do a little work people-pick up some news source that isn't Red or FOX news-seek truth outside your bubble-

    Conservatives claim to be all about responsibility-is it responsible to defraud those you owe money to? Their hypocrisy and ignorance knows no bounds.

    July 11, 2011 11:16 pm at 11:16 pm |
  9. greyhackles

    Is anyone actually taking Bachmann seriously?

    July 11, 2011 11:33 pm at 11:33 pm |
  10. S.B. Stein E.B. NJ

    The private sector has gone on an employee diet; that means starve the existing employees to raise profits. There are companies out there that claim that they are American but export jobs overseas. That isn't being good for the country that you claim to be a part of.

    She doesn't have to worry about defaulting because she has a government job and thinks that she will be continuously paid. The problem is she won't get paid, and many contractors and agencies won't get money either like her husband's company which takes Medicaid. Bachmann doesn't fully understand the wide and varied functions of this government. She needs to go back to school.

    July 11, 2011 11:36 pm at 11:36 pm |
  11. Christopher

    I would like to thank Miss Bachman for educating me on the responsibility of true fiscal conservatism. I am going to follow her example and simply stop paying all my bills. All my problems solved.

    July 11, 2011 11:59 pm at 11:59 pm |
  12. Mike in Texas

    Eliminate loopholes. Tax the hell out of the goods U.S. companies make in other countries and then sell here. If you are an American Company and sell a good make it here or pay a monster tariff. Lower the tax rate for companies that make goods or provide their service here. As for Hedge fund them the highest. They produce no goods or services and don't provide jobs. Cut back on defense's not how much you spend, it is how you spend it. Legalize pot and regulate it like booze and tobacco....legalize online poker and regulate it like other online gaming. Quit subsidizing ethanol and oil. ethanol is a big waste and drives up the price of food. I have more but don't to take up more space.

    July 12, 2011 12:04 am at 12:04 am |

    This from a woman whose husband has received hundreds of thousands of $ in federal grants,.. plus her family farm has drawn federal money,.. and her 26 foster children,.. what the heck is that?.. how much in federal payments has she received for that?

    July 12, 2011 12:19 am at 12:19 am |
  14. Squigman

    This is absurd. The woman has trouble with many academic aspects of every day living, yet has the remarkable ability to know enough about economics to offer opinion on national debt, and how to fix the nations internal economic problems. Completely absurd, and misleading journalism. The red herring express is alive and well in the United States, and hopefully the people will see through it.

    July 12, 2011 12:33 am at 12:33 am |
  15. David

    Bachman has "nut case" written all over her.

    July 12, 2011 12:43 am at 12:43 am |
  16. LouAz

    Frau Bachmann knows nothing of finance, personal, family, or Federal. Stepford wives are not allowed to know anything except to be their husband's servant. Good little wifey !

    July 12, 2011 12:55 am at 12:55 am |
  17. Republicans Are The American Taliban

    Her statements prove she has no concept of economics.

    July 12, 2011 01:17 am at 1:17 am |
  18. shoegazer

    How about the defense budget? How come it never seems to enter the conversation from either side? How many Americans are really aware of the size and scope of this never ending" we're the greatest on earth" really costs.How's this
    ....the defense budget for ONE YEAR is somewhere in the neighborhood of $20,000. dollars an hour,twenty-four hours a day,since Jesus Christ was born.Wrap your head around those figures,ONE YEAR.Time to re-focus your priorities my friends or the whole damn thing goes right down the dumper.

    July 12, 2011 01:20 am at 1:20 am |
  19. shoegazer

    The Republicans should never be let near the purse handles ever again.

    July 12, 2011 01:21 am at 1:21 am |
  20. Sam

    Her husband can refuse the government hand-out to his mental health clinic. It's a drop in the bucket, but it's a start. Might as well throw in the farm subsidy that she gets for her father-in-laws farm too. Every small step counts.

    July 12, 2011 01:51 am at 1:51 am |
  21. Lost in Texas FOREVER

    wonnder if she felt that way when the Repubs voted SEVEN times to raise the debt ceiling when GWB was in office, or was she just too mousey to say anything back then?

    July 12, 2011 01:56 am at 1:56 am |
  22. shoegazer

    "purse strings".....oops

    July 12, 2011 02:01 am at 2:01 am |
  23. s kel

    this fool of a foolish women, is the biggest fool the tea party has yet to field for the presidents office.

    July 12, 2011 02:47 am at 2:47 am |
  24. Capt Crunch

    Ha! Most recent Bachmann news, her and her husband took millions of dollars from the medicaid program. Her "Therapist" "Doctor" husband is trying to turn gays straight by feeding them that "good ole time right wing christian crap" telling their gay clients can "pray" the gay away. Please, will these righteous right wring republicans ever stop?

    July 12, 2011 02:56 am at 2:56 am |
  25. Matt

    She's right about one thing we do need a President with a titanium spine.
    Hopefully Obama will be the one with it.

    July 12, 2011 03:30 am at 3:30 am |
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