INDIANOLA – Republican presidential candidate Michele Bachmann said Monday that she opposes raising the national debt ceiling because it would be like raising the limit on the federal government’s credit card and costing Americans more through higher taxes.
Bachmann, a Minnesota congresswoman, told about 50 Cemen Tech employees that she favors a “tough love” approach in Washington D.C. that will require some reprioritizing and big reductions of federal spending, repealing federal health care changes, easing tax burdens for job creators, and easing “job-killing EPA regulations” that are impeding a U.S. economic recovery at a time when unemployment is at a “stunningly bad” 9.2 percent.
Bachmann said President Obama’s solution to the nation’s current financial crisis is to propose $1 trillion tax increase and “double down with more debt and more spending and job-killing regulation” when what is needed is “an end to the Obama spending spree” that has failed to reduce unemployment and improve U.S. economic prospects.
“They’re just digging us even deeper into a hole of economic debt. I say take that shovel out of their hands. It’s time that they stopped digging us into debt. As president, I will stop this nation from going into debt,” Bachmann said.
“My position is clear: I will not raise taxes, I will reduce spending, and I will not vote to raise the debt ceiling,” she added.
After her 25-minute speech, Bachmann told reporters that she is not worried about the nation defaulting if the debt ceiling is not increased, noting that various members of Congress have offered plans to use existing federal revenue to pay the interest on the national debt and other ways to finance governmental priorities that won’t mean “upping the limit on the credit card so that the politicians can keep spending more of our money that we don’t have.”
The Minnesota congresswoman and Waterloo native said she hoped to bring “pro-business, pro-growth Iowa sensibility to the White House” if she succeeds in landing the 2012 GOP presidential nomination and defeating Obama in the November 2012 election.
“We need to fundamentally restructure how we spend your hard-earned money,” said Bachmann, who pledged to bring a “constitutionally conservative approach” to government. “This election will be about, quite simply, who can lead that restructuring effort.”
Over the weekend, Bachmann took some political heat from 2012 GOP presidential rival Tim Pawlenty, a former Minnesota governor who touted his executive experience while saying she has a “nonexistent” record of accomplishments during her three terms in Congress.
During Monday’s speech, Bachmann made the comment that “executive experience in government is one thing but not when it points to a promise of more of the same big government as usual. Not when it promises more of the same under the banner of a different party. I have a very consistent track, proven record of standing up and leading the fight no matter which party is in charge and taking your voice to the halls of Congress, where I want you to know it hasn’t been heard for a very long time.”
After her speech, Bachmann dismissed a suggestion that she and Pawlenty may wage a Minnesota political civil war on Iowa soil in the run up to next month’s pivotal Iowa GOP straw poll in Ames and next year’s first-in-the-nation precinct caucuses, saying “I think that all candidates are going to be involved in this race. It won’t be just two people.”
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