Minnesota Republican Rep. Michele Bachmann debated Rep. Barney Frank, D-Mass., Monday night on Lou Dobbs' CNN show. There's a transcript of their discussion (or watch the YouTube video) of Bachmann's proposal to keep taxpayer money from organizations -- like ACORN -- that have been indicted or convicted of taxpayer fraud.

Frank originally approved of the plan, but later changed his mind after carefully reading it. He said he's OK with pulling money from groups where anyone in the organization is convicted of election fraud, but indicted goes too far.

"But I think it's a great mistake in this country to say that if you're simply -- if any employee is indicted, that you lose your funding. That allows any prosecutor anywhere who's got an ax to grind to indict someone," he said.

Replied Bachmann: "Well, what I am concerned about is the eligibility criteria of organizations who have access to government grants. ACORN has received approximately $53 million since the early 1990s. Now, between the stimulus and the budget that was passed by President Obama, they have access potentially to $8.5 billion.

"This is serious money for an organization that's been under indictment in over 12 states. They have a pattern of indictment for voter fraud. It's very concerning. No organization has a right to federal taxpayer money."

After more back and forth, the debate concludes with:

FRANK: I'm sorry, Michele, why do you keep interrupting? I'm sorry you don't like what I'm saying. But the fact is, if you look at what their organization does, housing counseling, under the administration, the Bush -- they have been getting about $1 million a year. You did not object when they got $1 million from Bush. You can object now. But it's not $8 billion.

DOBBS: Congresswoman, you get the last word, very quickly.

BACHMANN: Thank you, Lou. I do object, and I do object to expanding government to shift it from nonprofit to government. We just need to get out of this business altogether and stop spending the money.