Bachmann: neither party right on debt ceiling
Speaking with reporters early Tuesday afternoon, Republican Michele Bachmann said the federal government needs to cut spending, not to raise the debt ceiling. The 6th district congresswoman is campaigning for the GOP nomination to run against President Barack Obama next year. Bachmann castigated both Republicans and Democrats negotiating over how to raise the debt ceiling for not listening to voters who want smaller government.
I think the premise is wrong right now that both parties are engaging and that is they're beginning from the premise that we will increase the debt ceiling. I think it's the wrong premise because what we need is a fundamental restructuring of our economy that is not occurring.
Bachmann went on to say the nation has a very serious problem with over-spending.
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What we have to recognize is that the problem is today, the problem isn't five years from now or ten years from now when most of these cuts would take effect because we've seen this movie play out before we promise cuts and they are never realized.
Bachmann says the government has sufficient revenue to service the nation's debt and pay U.S. military personnel.
According to a report in the Des Moines Register, former Minnesota Gov. Tim Pawlenty, who's also running for the GOP nomination said he supports a three-pronged plan to balance the budget: Push through immediate spending reforms, while working on a long-term goal to pass a constitutional amendment requiring the Congress to balance the nation's budget. According to the newspaper Pawlenty said he also would cap spending as a percentage of the gross domestic product.
(Bachmann's press conference audio courtesy of Radio Iowa)