Bachmann fears Obama using BP escrow fund as a ‘permanent ATM card’ [View All]

[Ed Barrow]

Source: The Hill

Rep. Michele Bachmann (R-Minn.) on Wednesday warned the Obama administration against using oil giant BP as a ‘permanent ATM card’ and more broadly alleged there are increasing federal efforts to “take over private industry.”

The comments by Bachmann – a popular figure among conservative Tea Party activists – followed BP’s agreement under White House pressure to place $20 billion into a new escrow fund for damage claims from the Gulf of Mexico oil spill.

Bachmann said on the CNN program “John King, USA” that BP must pay for damages, but added, “We don't want these payouts to become political.”

“We don't think it's a good idea for the federal government to see private industry as essentially a piggy bank for the federal government,” she said.




Read more: http://thehill.com/blogs/e2-wire/677-e2-wire/103741-bachmann-fears-obama-using-bp-as-a-permanent-atm-card