Speaking on the House floor Tuesday evening, Rep Michele Bachmann, R-Minn., said that the drastic increase in government spending and influence over the private markets reminded her of the film “Titanic,” which she and her family watched over the weekend.
“We are in the process of watching the deconstruction of free market economists before our very eyes, something we have never seen,” Bachmann said. “But as the ice ripped that hole in the Titanic, water started being taken on, and the engineer came out and brought the blueprint of the Titanic. Water came into the first chamber, spilled over to the second, spilled over to the third, and by the time it filled up so many chambers, it was over. It was impossible to resurrect that ship. That’s, I think, Mr. Akin, what you have been bringing before this body this evening. You’ve been showing to the American people that at a certain point when we have such excessive levels of spending that in turn leads to such excessive level of taxation that in turn leads us to excessive levels of borrowing that at a certain point we wonder what that tipping point will be if the United States will not be able to recover.”
She added, “If we follow that plan that President Obama has put before us, we know what that outcome will be and a lot of very innocent people may go down with that ship.”
She went on to say that the government takeover of several automotive companies, and the appeals in Washington by dealership owners to keep their businesses open, are akin to a “gangster government.”
“We have gangster government when the Federal Government has set up a new cartel and private businesses now have to go begging with their hand out to their local – hopefully well politically connected – Congressman or their Senator so they can buy a peace offering for that local business. Is that the kind of country we are going to have in the future?” Bachmann said.
The Star Tribune reported this morning about two bills before Congress which will take some of the weight off of ailing auto dealerships.