Michele Bachmann on Obama's 'choot-spa'
Michele Bachmann is the gift that keeps giving. Bachmann mispronounces the word chutzpah. Below is the quote.
“The president doesn’t want to have to be confronted with priorities in spending, because he has a lot of choot-spa.”
In the video, Bachmann said the United States would not lose its AAA credit rating. Moody's Investors Service is currently reviewing the Treasury Department's credit rating because the debt ceiling has not been raised. Moody's warns that the credit rating would be downgraded if the debt ceiling is not raised. Bachmann's economic ignorance is not surprising. Bachmann expressed fears to Treasury Sec. Tim Geithner and Federal Reserve chairman Ben Bernake that U.S. currency would be abolished and replaced with the Chinese yen. Bachmann told Glenn Beck that she feared that the Obama administration would start a one world currency.
BACHMANN: What that means is all of the countries in the world would have a single currency. We would give up the dollar as our currency and we would just go with a One World currency. … If we give up the dollar as our standard, and co-mingle the value of the dollar with the value of coinage in Zimbabwe, that dilutes our money supply. We lose control over our economy. And economic liberty is inextricably entwined with political liberty. Once you lose your economic freedom, you lose your political freedom. And then we are no more, as an exceptional nation, as we always have been. So this is imperative.
Bachmann became confused because she thought the IMF prints U.S. currency. Why anyone takes Bachmann seriously on economic issues is beyond me.