This time it’s CBS News.
They invited the seriously-divorced-from-reality Michele Bachmann to spout her unmitigated nonsense on “Face the Nation” yesterday. Even though she tends to repeat the same outrageously false statements on any given topic, host Bob Schieffer was not prepared well enough to actually challenge her Bach, Bach, Bach during the interview.
So CBS News decided to publish a fact-check piece online. See if you can make any sense of this refutation:
“[N]ow we have the federal government taking over ownership or control of 51 percent of the American economy. This is stunning. Prior to September of 2008, 100 percent of the private economy was private.”
Ms. Bachmann offered no facts to back up her assertion that the government owns or controls 51 percent of the U.S. economy.
According to the Bureau of Economic Analysis data since 1929, the highest percentage of government spending as a percentage of Gross Domestic Product was during World War II when government spending was 47.9 percent (in 1944). The lowest level of government spending as a percent of GDP was 9 percent in 1929 at the outset of the Great Depression.
At no time during this period was the United States’ GDP 100 percent private.
The 2009 level of federal government spending was 20.6 percent.
In which universe does government spending as a percentage of GDP have anything to do with Bachmann’s claim of 51 percent ownership or control of the American economy?