Presidential Hopeful Michele Bachmann on Re-igniting U.S. Competiton

By Jen Haley

Republican presidential hopeful Michele Bachmann took the stage at the Commonwealth Club of California on Thursday. Her speech focused on ways America could regain its competitive edge by shrinking the federal government and reforming the tax code.

Many of the arguments Bachmann delivered were similar to others speeches she has made to conservative audiences across the United States.

In her remarks, she also advocated the repeal of President Obama's healthcare law and the financial regulations that were put in place after the nation's economic crisis. She emphatically stated that she would shut down the doors of the Education Department and the EPA.

Rep. Bachmann, as the co-owner of a small business mental health care practice, cited the US Post office as an example of failed innovation.

"America's job creators and small business-owners, like myself, have lost our economic liberty under the weight of $1.8 trillion annually in compliance costs for the government," Bachmann said.