CONGRESSWOMAN MICHELE BACHMANN: MOVING AWAY FROM THE PRIVATE SECTOR

“Free markets have failed us, and there’s no place else to turn other than the federal government,” seems to about sum up Washington’s approach over the past year.

This spring, an economist from Arizona State University calculated that since the beginning of bail-out nation, the federal government now owns or controls 30% or more of private business profits. Add to that almost 8% for their cap-and-trade takeover of the energy sector and another 18% for the health care takeover they’re maneuvering right now, and that’s 56% of the economy in government’s hands.

That’s downright frightening. Free markets are the engine which has grown our nation to the economic powerhouse that it is today, but even this top notch status is beginning to crumple with ever-increasing deficits, debts, and borrowing – drastically weakening the U.S. dollar.

Consider this: A few weeks ago, we actually voted to nationalize the student loan industry. Twenty five years ago, all student loans were private but Congress decided we needed a public option for higher education. This behavior is nonsense, and is setting a bad precedent if we wish to right our economic ship. If we don’t, the economy will continue to drag an anchor in the federal government and will never be able to fully recover. Future generations deserve better.

CONGRESSWOMAN MICHELE BACHMANN: MOVING AWAY FROM THE PRIVATE SECTOR