The House passed the $2 trillion debt for cromny capitalism bill that was offically named "To make a technical amendment to the Education Sciences Reform Act of 2002" (S 365). Representative Kristi Noem sided with the Establishment and voted Aye. As I noted yesterday, this will provide the rich with an additional $2 trillion and pretty mucyh keep Obama in the White House through 2016. That put her at odds with Michele Bachmann, who was one of the 161 members to vote no:
"The 'deal' ... spends too much and doesn't cut enough," Bachmann said in a statement released Sunday after President Barack Obama announced the agreement with congressional leaders.
UPDATE: THis is what Noem said on September 7, 2010:
As an experienced rancher, farmer, and small business owner I have spent many nights working on the books to make sure our operation didn't spend more than it took in. As a state legislator I've done the same thing since our state constitution in South Dakota requires it, not to mention because it is the right thing to do. Yet somehow our federal government has operated for far too long under a different set of rules. Today, the Democrats in Congress are doing nothing to stop the reckless spending that is deepening the fiscal hole we find ourselves in.
The National debt estimate for the end of 2010 -- two years into Obama's term - is $13.8 trillion.
That's a 38% increase in two years.
The nonstop spending and resulting debt have a profound affect our economic future. However, most of today's politicians will not talk about the magnitude of the problem. We have to summon the courage and discipline to change directions. America must promote private sector productivity and limitations of government spending.
Government spending and borrowing crowds out the money needed for a thriving private sector economy. As I make my way around South Dakota and speak with small businesses, many entrepreneurs speak of the difficulty to obtain capital to expand or start a new business.
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