Tags: | bachmann | obama | spill | fund | politicize

Bachmann Worried Obama Will 'Politicize' Spill Fund

Friday, 18 Jun 2010 07:51 PM

By Jim Meyers

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Rep. Michele Bachmann tells Newsmax that the federal response to the BP oil spill has been “miserable” and President Obama is “most certainly” interested in taking over effective control of the oil industry.

The Minnesota Republican also says the tea party movement is the “energy” in America today — and insists that Obama will be a one-term president.
Bachmann was first elected in 2006, and is a member of the Committee on Financial Services.

In an exclusive interview with Newsmax.TV, she says she is concerned that the Obama administration will “politicize” the distribution of funds that BP has placed in an escrow account for Americans who suffer damages from the oil spill in the Gulf of Mexico.

Story continues below.

“BP has made a good decision by admitting their guilt and I think it is important that they pay for every claim that is legitimate,” Rep. Bachmann says.

“But I’m concerned about politicizing the fund and want to make sure this fund isn’t used for special interests that would be of the president’s choosing.

“We already had a system set up for claims that BP could have gone into and claimants could have gone to, but the president has bypassed that and set up a new system that is run by the administration as opposed to the court system.

“This will be a very costly cleanup. There are people whose lives are ruined because of this oil spill. They legitimately need to be paid quickly and completely. But at the same time, because we’ve seen so much in the last 18 months of the federal government getting involved in private industry, I want to make sure it’s legitimate claims that are being paid to real people by BP, and I’m concerned about the administration’s impact on all of this.”

Bachmann was asked, given previous government involvement in the car industry, banks and other private enterprises, if Obama is interested in taking over the oil industry.

“Most certainly, because of the cap-and-trade bill,” she declares.

“The bill will effectively, in Minnesota for my constituents, mean a doubling of our energy bills. When the federal government calls all the shots, whether it’s an equity interest in the business or whether it’s through control, the federal government effectively runs that company.

“So I am very very concerned about the federal government — not [about] regulating for safety sake, that’s a good thing — but when they regulate to the point of effectively owning the business. That’s going too far.”

Bachmann has filed a full-scale repeal of Obama’s healthcare reform bill, which has been posted on her website michelebachmann.com, and visitors to the site can sign a petition expressing support for the bill.

“We can do this,” she says about repeal.

“I firmly believe that if we as conservatives take control this fall, which is only four and a half months away and it’s very likely this could happen, we could defund Obamacare after the election.

“And I absolutely believe President Obama is a one-term president. Then we need to elect a very strong constitutional conservative who will be bold and who will run on repealing Obamacare, and then we can repeal it in February of 2013 and actually address the cost issues, which are the real focus of Americans’ concerns.”

To understand the importance of repeal, Bachmann explains, “all we have to do is see how the federal government has miserably failed in capping this hole in the Gulf region. See how miserable the government’s response has been on this disaster, then consider that these are the people who’ll now be in charge of our healthcare.”

Bachmann, a tea party favorite, says about the movement: “We see the liberal media and also the far-left-wing Democrats dissing tea party adherents, because they know this is the energy in American right now.

“People have absolutely rejected the Obama-Pelosi agenda, and that’s really what the tea party is all about.”

Regarding financial reform legislation now under consideration, Bachmann tells Newsmax: “Unfortunately the bill that is coming through will make bailouts perpetual.

“And here’s the kicker: Now the bailouts would only be in the president’s hands. [The administration could] give a bailout to whoever is politically connected and they would bypass Congress. That’s how bad this bill is.”

Bachmann also says Obama has already reneged on his campaign promise that no couple making less than $250,000 a year will pay a dime more in federal taxes.

“And there will be a major tax increase in January 1 of 2011 when new taxes go into effect for many people, including people making under $250,000,” she adds.

“Because many people are invested in their pension plans, their mutual funds, and those mutual funds will have an increase in taxes on those dividend payments.”

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