What Michele Bachmann should have said on Fox News Sunday
I like conservative women. That is why I married one. Good men need good women.
As I watched Bachmann on Fox News Sunday this morning on hulu she held herself well. Chris Wallace took it upon himself to draw her out and basically provided a disagreeable front. This is fine, I would expect a desk interviewer to do nothing less. Chris is generally good at his job and does challenge representatives of both the left and the right.
However in the discussion about the debt ceiling Chris Wallace was pushing Michele about the prospect of default as described by the Sec. Treas., Fed Chair and others.
WALLACE: Top officials and everyone from Ben Bernanke, the Fed chairman, to Republican House Speaker John Boehner say this: Default will raise interest rates on our debt, which will therefore not lower the deficit, but increase the deficit because we are going to have to pay higher interest rates. It will raise interest rates for mortgages and loans for individuals, and it will threaten our recovery.
I want you to give me a single piece of hard evidence that defaulting would not be a disaster.
BACHMANN: Who is advocating defaulting? I’m not. No one is advocating defaulting. That’s why Senator Pat Toomey and Representative Tom McClintock have a bill that would direct the treasury secretary to first pay off all obligations, and after that, prioritize spending.
WALLACE: But you just heard the deputy treasury secretary say that’s default by another name.
BACHMANN: Well, that is his opinion. My opinion is we could go with the Toomey-McClintock plan. We could pay off the debts first and prioritize. What a shock to the ruling class in Washington, D.C. They don’t have all the money they want to spend. We never did have that ability to be able to spend all that money.
WALLACE: Don’t you worry , I mean, what our creditors would say, what the financial markets would say if we don’t raise the debt ceiling and we have to start doing that? As I say, everybody from Ben Bernanke to your speaker, John Boehner, say it would be a financial disaster.
BACHMANN: Well, I don’t know if you heard what I said. I am not calling for default.
WALLACE: But if you don’t raise the debt ceiling, that is what is going to happen.
BACHMANN: But that’s not true…
Michele could have said “Well, I don’t know if you’ve heard but Standard & Poors rating agency has down graded American credit from neutral to negative. The other two agencies that make up our bond rating are looking at the same data and coming to the same conclusions but are unwilling to put it in on paper. If we raise the debt ceiling we will continue down this path of financial destruction and there is no political cover for it. I call this irresponsible, corrupt and wasteful spending and massive inflation default on the social contract with the American people.
…this is my immediate reaction. I think that Michele could have been prepared with some facts to dispute a mistaken notion of default. Her press crew had better get on that. And I hope she is prepping more before going on TV. Chuck Shummer makes sure he can lace some twisted facts when needed…