Tags: Economic- Crisis | Healthcare Reform | Tea Party | Bachmann | entitlement | reform | credit

Bachmann: Time for Entitlement Reform is Now

By Hiram Reisner   |   Tuesday, 09 Aug 2011 05:09 AM

Presidential candidate Michele Bachmann says the time for entitlement reform is “now, not in the future,” so America can retrieve its top credit rating and market fears can be quelled. Bachmann also reiterated Monday on Fox News that Treasury Secretary Timothy Geithner needs to quit or be fired.
“The No. 1 thing that needs to be done is, I think, the treasury secretary has to go — you have to have some firings,” the Minnesota GOP congresswoman told Fox News’ Bill O’Reilly. “If your economic team isn’t working, you’ve got to get someone in who knows what to do — that needs to be done, I think.

“Secondly, if I were president today, I would call all the members of Congress back into Washington, D.C., and I’d say this: ‘Look, we are going to get this AAA credit rating back, and this is what we’re going to do. First, we’re going to tell the markets that there will be no default on the debt — we will make sure all the interest payments are made. Second, we’ll tell our military in no uncertain terms they will get their checks. And No. 3, we would make sure that all senior citizens would know they aren’t going to be scared any more — their current benefits, both on Medicare and Social Security, will be paid.’” Bachmann said.

However, the House Tea Party Caucus founder said Medicare and other entitlement programs need immediate reform and if she were President Barack Obama, she would tell Congress “the time for entitlement reform is now, not in the future.”

“President Obama himself has said [Medicare] isn’t working — and that has to change — there have been good suggestions that have come out there,” she said, adding that there are changes that should be made to the nation’s healthcare system as well.
“For instance, people who do not have sufficient income could have their health insurance subsidized — and so for those people who do have sufficient income, then they would purchase their own health insurance,” Bachmann said. “So it would be means-tested as to who needs to have that subsidy or not. More important in all of this, Bill, is repealing Obamacare.”

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