Uh Oh, Bachmann on Debt.

For those interested in the glamour show that is American politics. Quoted from Michael Kinsley’s article in Bloomberg Businessweek (July 25-31) on Michele Bachmann’s debt reduction policy:

I bet she’s a good mother, politics aside. But I can’t help wondering: What does Michele Bachmann teach all those kids about the importance of living up to your obligations?

Say, for example, that one of them owed some people, oh, about $14.3 trillion. Would Bachmann tell her children that a debt is a moral obligation that an honourable person will go to great lengths to pay if at all possible? Or would she tell them, Well, it all depends. Whether you pay back money that’s been loaned to you is a practical question. And if you calculate that you’d be better off reneging, then by all means do so. It’s perfectly O.K.

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