Bachmann: Debt Limit Deal Means ‘We Embrace Being Greece’

August 1, 2011 - 11:19 AM

(CNSNews.com) – Rep. Michele Bachmann (R-Minn.). who is seeking the Republican presidential nomination, said today on Laura Ingraham's radio show that the debt-limit deal struck by President Barack Obama and congressional leaders is “like saying we embrace being Greece.”

Bachmann preferred the bill she co-sponsored with Reps. Steve King (R-Iowa) and Louie Gohmert (R-Texas) that would pay the interest on the debt, cut checks for military personnel and then prioritize federal spending.

“My opinion is we’re going to now give the president almost a trillion dollars and then come Christmas time, he’ll get potentially--we’ll find it what the final numbers were--potentially upwards of another, in excess of a trillion, maybe as high as another $1.8 trillion but that’s on top of the other $2.2 trillion spending that we do,” Bachmann said.

Rep. Michele Bachmann (R-Minn.)

Rep. Michele Bachmann (AP Photo Charlie Neibergall)

“So this isn’t just $2.4 or $2.8 trillion worth of spending. We have the full budget, which is another $2.2 trillion. I mean, these numbers, this is like saying we embrace being Greece," said Bachmann. "I don’t.”

The European Union (EU) recently agreed on a deal that would grant Greece a new bailout.