Video archive of the US Congress

House Proceeding 03-23-10 on Mar 23rd, 2010 :: 0:58:00 to 1:02:45
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Michelle Marie Bachmann

0:57:56 to 0:58:17( Edit History Discussion )

Michelle Marie Bachmann: certainly we should engage in fiscal responsibility in a way moving forward to get our fiscal house in order. thank you, madam speaker. the speaker pro tempore: mr. bartlett from maryland. for what purpose does the gentlewoman from minnesota rise? mrs. bachmann: to address the house for five minutes, revise

Michelle Marie Bachmann

0:58:00 to 1:02:45( Edit History Discussion )
Speech By: Michelle Marie Bachmann

Michelle Marie Bachmann

0:58:18 to 0:58:38( Edit History Discussion )

Michelle Marie Bachmann: and extend. the speaker pro tempore: without objection. mrs. bachmann: madam speaker, thank you. madam speaker, i'd like to congratulate the president today. mr. president, you are halfway there. with the president's signature on a health care bill today, the federal government has now taken outright ownership or control of

Michelle Marie Bachmann

0:58:39 to 0:59:00( Edit History Discussion )

Michelle Marie Bachmann: 50% of the american economy. the president can rightly say that he has transformed america. since the inception of bailout nation in september of 2008, with the passage of the $700 llion tarp bailout, the federal government loll -- the government's loll pa losea

Michelle Marie Bachmann

0:59:01 to 0:59:21( Edit History Discussion )

Michelle Marie Bachmann: takeover is under way. president obama fully eraced the $700 billion bailout plan during the first of his presidential debates with senator john mccain. during december of 2008 president-elect obama insisted that outgoing president george bush released billions of

Michelle Marie Bachmann

0:59:22 to 0:59:42( Edit History Discussion )

Michelle Marie Bachmann: dollars to create the automobile task force for the purpose of preventing general motors and chrysler motors from filing for bankruptcy. but like most government interventions the billions spent on the auto companies did not prevent bankruptcy, but it did provide a gentler landing for the unions who worked so hard to

Michelle Marie Bachmann

0:59:43 to 1:00:03( Edit History Discussion )

Michelle Marie Bachmann: elect president obama. banks were bailed out, and the great wall street investment houses, including goldman, et al, turned themselves into banks to be eligible for government subsidized tarp funds. soon the federal government turned its dividend-paying shares into equity shares and

Michelle Marie Bachmann

1:00:04 to 1:00:25( Edit History Discussion )

Michelle Marie Bachmann: government became the outright owner, the shareholder, of america's largest banks. next came the unholy bailout, madam speaker, of a.i.g. the largest insurance company in america, a sponge for taxpayer money, a.i.g. held toxic derivatives and they have yet to right their ship. the federal reserve fought

Michelle Marie Bachmann

1:00:26 to 1:00:46( Edit History Discussion )

Michelle Marie Bachmann: massive copis reams of toxic commercial paper from private corporations and the federal government's balance sheet forever changed, subsidized by the american taxpayers. freddie and fannie, the secondary mortgage purchasers, were the center of the university for the finanal meltdown.

Michelle Marie Bachmann

1:00:47 to 1:01:07( Edit History Discussion )

Michelle Marie Bachmann: foolishly they pursued a policy of purchasing substandard loans, then repackaging those loans into mortgage-backed securities. freddie and manny greedly spread their economic cancer throughout the financial world, exposing america's taxpayers to potentially trillions of dollars of losses. freddie and fannie should have

Michelle Marie Bachmann

1:01:08 to 1:01:29( Edit History Discussion )

Michelle Marie Bachmann: been shuttered. they should have been placed into receivership, but uncle sam, ever the chump, couldn't resist and now uncle sam owns 50% of america's home mortgages. eager for more, the obama administration consumes the student loan industry and they completed that transaction today

Michelle Marie Bachmann

1:01:30 to 1:01:50( Edit History Discussion )

Michelle Marie Bachmann: with the signature of a pen. a breathtaking 33% of the private economy was either outright purchased or controlled by the federal government in a span of 10 months' time. but the brass ring of government control health care still taunted this administration. 18% of the private econom the

Michelle Marie Bachmann

1:01:51 to 1:02:13( Edit History Discussion )

Michelle Marie Bachmann: finest health care the world has ever known, was a long sought-after prize of the political left. today they've realized their dream at the 11th oth hour this morning, president obama was a signage -- with the signage of his name completed the federal government takeover of health care.

Michelle Marie Bachmann

1:02:14 to 1:02:34( Edit History Discussion )

Michelle Marie Bachmann: 33% plus 18% equals 51% of the private economy today controlled or owned by the federal government. it is fitting on this momentous day that we pause for a moment of silence and lament the passage of half of america's economic freedom. in a stunning 18 months' time, for the first time in america's

Michelle Marie Bachmann

1:02:35 to 1:02:45( Edit History Discussion )

Michelle Marie Bachmann: history, the federal government now owns or controls over 50% of the private economy. madam speaker, i say

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