Thursday, July 14, 2011

Michele Bachmann

Since Michele Bachmann came on the scene not that long ago, she has risen in popularity and become a top tier candidate for president. Bachmann's poll numbers have risen rapidly in Iowa as well as the nation overall.

I believe that most of her popularity rise is short-lived and a temporary bounce from her recent announcement that she is getting in the presidential race. However, I must say that i am somewhat alarmed by republican voters' willingness to jump onto the Bachman bandwagon. After all, Bachman has only been on the national scene for 4 1/2 years. Does anyone really believe that 4 1/2 years is adequate preparation to be president of the United States?

As an example of Bachman's inexperience, she has repeatedly argued that there is no need to raise the debt limit. Bachman believes that all the talk about the dangers of not raising the debt limit is just "smoke and mirrors."

I think Bachman is completely in error on this point. Many authoritative sources have projected the dire consequences of not raising the debt limit. Among those sources are National Treasury Secretary Tim Geitner, Federal Reserve Chairman Ben Bernanke, the gov. of China, Moody's Rating Agency, S&P Ratings Agency, hundreds of large U.S. companies, AARP, and the list goes on and on. It's obvious to me that not raising the debt limit would be catastrophic.

Ms. Bachman doesn't realize the absolutely fundamental bedrock that the U.S. government bonds play in the business and investing world. One of the first and most basic fundamentals of all investing is that the safest investment in the world is a U.S. bond. The U.S.'s ability to pay its debts is, and should remain, unquestionably sure. To put in question this bedrock of international business and investment, is to shake the foundations of the financial world as we know it.

This is why I believe that electing Michele Bachman, a novice, would not just be a political mistake, it would be a reckless and dangerous mistake. It takes a long time to learn what one needs to know in order to be POTUS, and Michele Bachman simply isn't ready.

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