According to Christian News, what Bachman said was this:
“Sadly, we haven’t reformed the bankrupt tax-and-spend policies that we decried [through] Ronald Reagan some decades ago,” she noted. “We have … merely replaced them with a new and insidious scheme called borrow-and-spend.”
Congressman Bachman seems to forget it was Reagan and Bush, pere and fils, who were the biggest borrowers and deficit spenders, Bill Clinton, for all the damage he did, left the budget in surplus, which Bush and his cronies eliminated by going to war on borrowed money and cutting taxes three successive times.
Earlier this week, Obama acknowledged that for the last decade, the U.S. has “spent more money than we take in” and said he is ready to embrace an approach that cuts waste and helps the country “live within our means.”
No one, Republican or Democrat was asking us to live within our means when it came to making the bondholders whole, and paying the banksters’ gambling debts. Twenty billion dollars disappears down a contracting hole in Iraq and no one raises an eyebrow over it. Strange, isn’t it how the worst of the waste, fraud and abuse tends to take place under Republican administrations. But a few billion dollars is needed for food stamps to feed the victims of what they have wrought, people who were productive once and in poverty for the first time in their lives, and the robbers scream like babies whose candy has been taken from them. “I’m not giving my money to deadbeats and losers,” is their usual response.
Bachmann noted that nearly six years ago, the nation’s debt was $8.67 trillion. If the president is allowed to raise the debt ceiling, she calculated, it would nearly double that amount.
“It took us 219 years to get to the first … $7 trillion in debt and only five years to almost double that amount,” she summed.
That’s right, and the money went to the same corrupt bankers who nearly destroyed the economy under the feckless watch of Bachman’s party, and while she was serving in Congress. The Bush Administration demanded the money, and Congress approved it, because not to do so would supposedly have sent the economy into a tailspin. Bachmann may be able to claim, along with the rest of the Republican minority, that she voted against it, but that was the height of Republican hypocrisy. Now that they are in the majority, they are doing everything they can to prevent the kind of bank regulation that would hamper more speculative bubbles in the future.
via Bachmann to Obama: Forget the Debt Ceiling, Lower the Debt, Christian News.
