Michele Bachmann: “And I want to thank the stunning representative from Iowa, Mr. King, who is putting this effort together for this hour.…”

“And I want to thank the stunning representative from Iowa, Mr. King, who is putting this effort together for this hour. There are many of my colleagues who are here, and many more who want to join and add their words to the wonderful repertoire we are having this evening. As Mr. King had mentioned, it is absolutely true; as we look at the risk that we put the American taxpayer at, we are looking at essentially $9.7 trillion of potential risk. One fact you mentioned, that potentially 90 percent of all home mortgages could be completely paid off with that amount of money. Here is another fact. You could take that $9.7 trillion that the American taxpayer is on the hook for, and you could write a check today to every man, woman, and child in the world for $1,430. That is how much money we are on the hook for. And the reason why I wanted to have the opportunity to stand up right now; my husband and I have been married 30 years, we have 5 biological kids, and we have been blessed to have 23 foster kids. I can't look my 22-year-old in the eye and say to him, ``Harrison, this stimulus is good for you and good for your generation.'' Why? Because I know for a fact that just the Social Security burden alone, the unfunded net liability that the next generation will owe just on Social Security will equal 25 percent of their income when they come into their prime earning years. That is before this level of spending. We are looking at $1 trillion in spending.…”