Bachmann misunderstands basics of U.S. economy

Specifically, she said the economy was 100% private before the 2008 Bush bailouts:

“And what we saw this Tuesday, once the president signed the health care bill at the 11th hour in the morning on Tuesday, that effected 51% government takeover of the private economy. It is really quite sobering what has happened. From 100% of our economy was private prior to September of 2008, but as of Tuesday, the federal government has now taken ownership or control of 51% of the private economy.”

This may come as a surprise to the Bureau of Labor Statistics, which tracks public-sector employment as well as private. Or to the Post Office, which has existed since our nation’s founding. We could go on. If this doesn’t evolve into another national Bachmann gaffe, it’s only because no one’s paying attention.

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