John Ransom

If either the GOP contenders or President Obama plan on dismissing Michele Bachmann’s candidacy out of hand because she represents the Tea Party, they ought to think twice.

In the war of economics and business, where these campaigns will likely be won or lost, Bachmann has shown the strongest practical grasp on issues of the American economy vs. any of the candidates in the race.

Certainly she has the academic and business experience for her views on the economy to be taken seriously. "After high school, meanwhile, the disciplined Bachmann spent time on a Kibbutz in Israel, graduated from Winona State University with a bachelor's of arts, got her law degree at Oral Roberts University, and followed up with a tax law degree from the exclusive William & Mary Law School," says USNews, calling her a "smart version of Sarah Palin."

Bachmann then worked as a tax attorney for the IRS.    

While Mitt Romney can tout his experience on Wall Street, that experience is becoming more and more problematic as Republican voters become disenchanted with too-big-to-fail institutions that control the markets in the U.S.

GOP voters, who used to cozy up to Wall Street, suddenly understand that, at least at the top, Wall Street executives are often for sale to whichever side is in power.

That’s part of the reason why Obamneycare presents such a potent challenge to Romney.

Government-crafted schemes like Obamacare and Romneycare are looking more and more to voters like Big Government, Big Labor and Big Business sitting down in a smoke-filled room to decide the winners and losers, because that’s what happens.   

And since the rest of us don’t have a seat at the table, guess who buys the cigars? 

Michele Bachmann on the other hand, as a member of the House Committee on Financial Services, has shown a great deal of insight into where the economy has gone wrong. And it’s the insight of an outsider looking in.  

On the first day of the new Republican majority, Bachmann introduced legislation to repeal Barney Frank’s so-called reform of Wall Street, called Dodd-Frank, one of those Big Government, Big Business, Big Labor joint ventures.


John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at WealthEd.com or on Comcast Cable