Bachmann Amps Up Campaign in Iowa

NEW YORK ( TheStreet) -- Rep. Michele Bachmann (R., Minn.) aired a new campaign advertisement in Iowa on Thursday in which the Republican presidential hopeful asserted her conservative spending views.

The 30-second ad spot started to run on televisions across Iowa as the Minnesota congresswoman amped up her campaign in what she considered a crucial state for the 2012 Republican primaries.
Michele Bachmann (R., Minn.) launched a new campaign advertisement in Iowa on Thursday.

"I know that we can't keep spending money that we don't have," Bachmann said in her video. "That's why I fought against the wasteful bailout, against the stimulus. I will not vote to increase the debt ceiling."

Congress and President Barack Obama recently made the debt ceiling central concern because of worries that the United States could potentially default if it didn't permit the Treasury to issue more debt by an Aug. 2 deadline.

At the first-ever Twitter town hall meeting on Wednesday, Obama addressed the debt ceiling problem: "If we do not raise the ceiling , the Treasury will run out of money. It will not be able to the pay the debts we owe."

In a run on the morning talk show gamut on June 23, Bachmann said that Obama's administration had used "scare tactics" on Congress to raise the debt ceiling and that she felt the United States could easily repay interest on the debt to avoid a default.

The plan to repay interest was popular among some Republicans, but the president dismissed the idea at a June 29 press conference.

"This is the equivalent of me saying, 'You know what, I will choose to pay my mortgage, but I'm not going to pay my car note,'" Obama said.

Bachmann's sentiment about a "wasteful" bailout echoed sentiments of her Republican colleague, House Speaker John Boehner, who "tweeted" the president at Wednesday's town hall: "After embarking on a record spending binge that left us deeper in debt, where are the jobs?"

Obama called Boehner's question slightly "skewed" but added that "what he's right about is that we have not seen fast enough job growth relative to the need."

-- Written by Joe Deaux in New York.

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