Michele Bachmann: “I was really struck by that comment that he made. That is a tremendous amount of faith to have in the Federal…”

“I was really struck by that comment that he made. That is a tremendous amount of faith to have in the Federal Government. And it views the Federal Government almost as a Good Fairy, or as the Easter Bunny, or as Santa Claus, that it's the Federal Government that's going to be able to pull the economy out of the doldrums. If that is the case, then why doesn't the Federal Government go ahead and take over everything and just run this country and we just decide we're going to become full-blown, socialist state. I don't think that's what the American people are calling for. If you look at the living laboratory of the last 100 years of economics, you look at when America has prospered, what economic policies we followed, and when America has foundered, and it's almost like an economic punctuated equilibrium. If you look at the 1930s, under FDR, with historic levels of government spending, historic levels of government intervention, the United States Secretary of the Treasury during the 1930s was Mr. Henry Morganthau.”