If NBC’s David Gregory had asked just a couple follow-up questions of Michele Bachmann on Meet the Press last Sunday, he would have found that her anecdote about how “Obamacare” will lead to economic ruin doesn’t stand up to scrutiny.
In fact, he would have found that the financial problems of the Iowa employer she cites to bolster her point are far more likely the result of the economic policies of former President George W. Bush.
In answering Gregory’s question about how she would “turn the economy around within several months” if elected president, as she recently promised to do, Bachmann pledged to repeal both the health care reform law and the Dodd-Frank Act, which Congress enacted last year to reform the way financial institutions are regulated.
“I'll tell you the biggest job killer right now, because I'm all across Iowa asking people, business people tell me it's Obamacare and it's the Dodd-Frank law,” Bachmann said. “Dodd-Frank is drying up credit for businesses. And I have the repeal bill for Dodd-Frank.”
She went on to promise to repeal health care reform, too.
“People want that gone. It is absolutely without a doubt a job killer. I was just at a business in Indianola, Iowa. They've let half of their workforce go, over 100 employees.”
The implication, of course, was that the employer had to let all those workers go because of health care reform.
Gregory didn’t challenge her, so I started trying to find the Indianola employer that had axed so many jobs because of Obamacare.
I was especially curious because the portions of the law that will have the greatest impact on some businesses have not even taken effect yet. A provision that has gone into effect, which provides tax credits to small businesses that offer health care coverage for employees and help subsidize it, has actually been a boon to many firms.