PRESS RELEASE from the Democratic National Committee
July 7, 2011

Michele Bachmann released a television ad in Iowa today in which she railed against federal spending and the Recovery Act and said she would not vote to increase the debt ceiling.  Please see below for a fact check on those points from the Bachmann ad.
 
REP. BACHMANN VOTED FOR GOP BUDGET THAT ENDS MEDICARE AS WE KNOW IT AND INCREASES THE DEBT
 
Ø  Michele Bachmann Voted For The Ryan Republican Plan That Ends Medicare As We Know It. [New York Times, 4/15/2011]
 
Ø  GOP Budget Also Increases Total Debt By Nearly $9 Trillion Over the Next Decade. The House GOP budget increases the national debt by $8.8 trillion, to $23.1 trillion in fiscal 2021, which would require an increase in the debt ceiling. [LA Times Opinion Staff, 4/15/11]
 
REP. BACHMANN IS SAYING SHE WOULD LET US DEFAULT ON OUR DEBT, PUTTING OUR ECONOMIC RECOVERY AT RISK
 
Ø  Michele Bachmann: ‘I Will Not Vote to Increase the Debt Ceiling.’ [WSJ Blog, 7/7/11]
 
Ø  Chief Economist For The U.S. Chamber Of Commerce Said If Congress Didn’t Raise The Debt Limit The Result Would Be Higher Interest Rates , Financial Uncertainty And Damage To The Nation’s Fragile Economy. “Martin Regalia, chief economist for the [U.S. Chamber of Commerce], agrees that there's no other option but to raise the debt limit. The chamber is lobbying Congress and educating lawmakers about what it could mean if that doesn't happen: higher interest rates, financial uncertainty and damage to the nation's fragile economy. Regalia says the ramifications of a default — or even a close call — can be an eye-opener for lawmakers. ‘It's no reflection on them that they don't fully understand the nuances of a budget process that I don't think anyone fully understands.’” [NPR, 4/13/11]
 
Ø  “The Debt Problem Won’t Be Resolved – And May Even Be Made Worse – By Not Raising The [Debt Ceiling.” “A number of lawmakers -- some of whom will speak at a Tea Party rally on Thursday -- have said they will not vote to increase the debt limit because it would be fiscally irresponsible. But their rhetoric is misleading because it conflates two different things. There's raising the debt ceiling, which is a technical necessity. Then there is the country's actual debt problem, which is a political and policy matter. Indeed, the debt problem won't be resolved -- and may even be made worse -- by not raising the ceiling.”  [CNN Money, 4/1/11]
 
REP. BACHMANN OPPOSED EFFORTS THAT BROUGHT OUR ECONOMY BACK FROM THE BRINK AND HELPED PRIVATE SECTOR JOB GROWTH INCREASE FOR 15 STRAIGHT MONTHS
 
Ø  Michele Bachmann Voted Against the Recovery Act that Helped Bring the Economy Back from the Brink. Rep. Michele Bachmann opposed the Recovery Act, which according to the nonpartisan Congressional Budget Office, increased the number of jobs and lowered unemployment than if we did nothing. [House Roll Call #70, 2/13/11; CBO, 5/25/2011]
 
Ø  The US Economy Created 2.1 Million Private Sector Jobs Over The Past 15 Months. [bls.gov, accessed 6/24/11]
 
Ø  Private-Sector Employment Increased For The Last 15 Consecutive Months. [bls.gov, accessed 6/24/11] 
 
Ø  GDP Has Now Grown For Seven Consecutive Quarters, Including Continued Growth In The First Quarter Of 2011. [CEA Seventh Quarterly Report, 7/1/11]