BACHMANN: Now unlike all of you, who I’m sure pay cash for your homes, there are people out there like myself who actually have to go to a bank and get a mortgage. And this is the problem. It’s almost impossible to buy a home in this country today without the federal government being involved. Whether it is with the FHA, whether it’s with Fannie, whether it’s with Freddie, it’s almost impossible to buy a home…What’s important is that we do dismantle a number of these federal programs that everyone agrees are clearly out of control.
To recap, federal programs that benefit Michele Bachmann personally are fine. It's the ones she doesn't use that have to be eliminated because those programs are out of control.
GOP presidential contender Michele Bachmann (R) has been in hot water in recent weeks for personally taking advantage of hundreds of thousands of dollars in government aid while denouncing the very programs she benefited from. Most recently, the Washington Post discovered that Bachmann and her husband signed for a $417,000 home loan backed by Fannie Mae or Freddie Mac just weeks before she called for the two mortgage giants to be entirely dismantled.
Bachmann has been a consistently fierce critic of mortgage lending programs and has advocated abolishing the government sponsored mortgage enterprises (GSEs) Fannie Mae and Freddie Mac. Yet she took out the maximum possible loan from those programs to finance her family’s move to a lavish 5,200-square-foot home on a golf course.
Food stamps, for evil welfare queens who are gaming the system. Jumbo mortgages backed by the Federal government? Perfectly reasonable use of taxpayer money.
This woman would lose the election to be President of her own fan club.
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