Thinkprogress:
Part of Rep. Michele Bachmann’s (R-MN) argument that President Obama has allegedly turned the United States into a socialist, totalitarian state is her claim that since he took office, the federal government has taken control of the “private economy.” First, the feds allegedly owned 30 percent of the private economy, then she recently upped it to 51 percent. “Once the president signed the health care bill…that effected 51% government takeover of the private economy,” she said last month. Last night on CNN, Bachmann tried to explain her reasoning and in doing so, threw in a new tall tale:
Part of Rep. Michele Bachmann’s (R-MN) argument that President Obama has allegedly turned the United States into a socialist, totalitarian state is her claim that since he took office, the federal government has taken control of the “private economy.” First, the feds allegedly owned 30 percent of the private economy, then she recently upped it to 51 percent. “Once the president signed the health care bill…that effected 51% government takeover of the private economy,” she said last month. Last night on CNN, Bachmann tried to explain her reasoning and in doing so, threw in a new tall tale:
BACHMANN: The story in our country has been the federal government takeover of private industry. The federal government literally, in 18 months’ time, has taken either direct ownership or control of 51 percent of the private economy. Eighteen months ago, 100 percent of the private economy was private. But today, the federal government literally owns banks., the largest insurance company in the United States. The federal government owns over half of all home mortgages today in the United States — Chrysler, G.M. the student loan industry and now health care.
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