Ron Paul: The United States is Bankrupt

Channel: Fox News
Show: Glenn Beck Program
Date: 3/23/2009


Glenn Beck: We’re back with Texas Congressman Ron Paul. Senator Gregg said that the United States is going bankrupt, and that Obama is going to bankrupt the United States of America. Do you believe that, Congressman?

Ron Paul: Not quite, because I think it’s already bankrupt. It’s insolvent, and we couldn’t pay our bills. The official declaration hasn’t been done yet but we couldn’t pay our bills. Everything that we pretend that we owe… there’s no cash flow to pay for all the bills. Even if we sold every acre of land in this country I don’t think we could pay our bills.

So yes, the bankruptcy of America is here and I think this financial crisis should lend itself to our benefit, in that people will become outraged and maybe demand some changes here in Washington.

Glenn Beck: So when you say we can’t pay our bills, what does that even mean? It doesn’t affect people when they realize now that the new number is $116,000 for every family of three. $116,000 every American family now owes. People just think, “I’m not going to have to pay that, it will just roll over into something else”.

Ron Paul: No, if you can’t pay your bills then you have to go out and borrow it or work harder, and everybody understands that. The government can’t pay their bills, they don’t have the money. The tax revenues are going down and the bills are going up. We don’t slow up on the spending, we quadruple the amount of spending. But they have a printing press and they print the money. People still have a trust in the dollar, so they pay the bills that way, which is deceitful and wrong and this is why I think… go ahead.

Glenn Beck: Well, I was just going to say that the thing is… I mean if you saw last week when they started monetizing our debt which, America, means taking an IOU from one pocket, giving that IOU to the Treasury, the Treasury prints a trillion dollars, then hands it to the other hand and says, “Oh my gosh, look at the money. Oh can we borrow that?” I mean, its crazy talk. Gold went up like $78… that was people freaking out. But what they will say is, “The rest of the world is in worse shape than our dollar is and so we’re fine, we’re going to be fine. Everybody else is going to collapse before we do”.

Ron Paul: Well, that isn’t the case, but this is an opportunity for us because for a long time I’ve been saying that we need more transparency of the Federal Reserve because they were creating the bubble. We could have prevented this, but they didn’t listen, the crisis has come. But now the people are much more alert and saying, “Yes, that makes a lot of sense”. We do need to know what the Fed is doing and that’s why they support my position on transparency in the fed.

Glenn Beck: So what is it we can do? What is it actually that people in Washington fear? Because I don’t think they fear anything, they don’t fear a scandal, they don’t fear anything.

Ron Paul: They fear truth, if the truth comes out they can’t handle that.

Glenn Beck: What can the average person do to let the people in Congress know, “Hey, you work for me”.

Ron Paul: Everybody’s job is different. It might be running for Congress, supporting candidates, calling their Congressman, doing whatever. In my own little way, for these many decades, it’s been dealing with the monetary system, because I thought it was the big issue. And I’m working right now on a precise piece of legislation, HR 1207, which would demand that the Fed open up their books. They have not had to do that. They’re protected by the law. So that is something I can do, others could help me if we get to Congress. The people want that. I would…

Glenn Beck: HR 1207. Congressman, thank you very much.


  • Cheryl A.

    Down with the Federal Reserve! Organize peace movements around the GLOBE.

  • Cheryl A.

    Bad economy is not a motivator for the militia! What a stupid title! The controllers of our economy is a motivator but we, the people, will not use violence to kick some butt. We know that the use of force will only bring the UN soldiers here and we DO NOT want to bring about a dictatorship.

    People wise up and be leary of what you see and hear on TV… These media whores are being used to put fuel on a fake fire…

  • Cheryl A.
  • Cheryl A.

    I changed my handle to an appropriate one: Nation-In-Distress!

  • Cheryl A.

    Speaking of illegal drugs:

    Illegal only in the sense that they are not taxed yet or monopolized.

  • Cheryl A.

    Hemp funded one of the World Wars. The growing of hemp actually boosted the economy.

    Everything that is suppose to be immoral becomes moral as long as the gov’t or the corporations get their greedy hands on it so that they can monopolize it.

    Empty these jail houses of the pot smokers NOW.

    • Sean

      it was oil that funded both world wars and was the reason for most wars. you should look up oil impearialism

      • Cheryl A.

        Let me restate the obvious: Hemp was NOT the only means of funding the war. I am well aware of the big oil cartels that profited off the war as well as invested in the war. Hence the reason I placed the book “The History of Standard Oil” out here for people to read.

        I only mentioned HEMP because the conversation turned to illegal drugs.

  • Mike

    Do we Americans really need an expert, with an 81/2×11 degree hanging on the wall to tell us that pot is a dangerous drug? Marajuana is a PLANT, that grows in the ground just like 100’s of other herbs, such as oregano, rosemary, thyme, bay leaf. DRUGS are oxicotin, percaset, loratab, vicodine, cocaine, Extascy, methenphetamine. These experts are puppets, pawns and perverts when it comes to interfering with the big buisness of drug manufature, they are the weapons used against intelligent Americans to scare, intimidate, and confuse. These same experts are the ones that are called upon in court cases to substantiate the dangers. The American people know the difference between DRUGS and PLANTS, congress, lobbyists, elected officials, police, dea, fbi, atf, You make an issue out of something so insignificant and you have created this monster. Indians that our government CAUSED Americans to believe were savages smoked herbs and they were some of the most peaceful, non-wasteful, and intelligent people ever. But your foolish lusts and greed caused you to discredit anything that was good so that you could get America hooked on legal drugs. THE BIGGEST SCAM SO FAR against Americans. This issue of pot is indicitive to your diseased minds as a whole. To focus on illegal drugs as a crises, and ignore the fact that 90% of Americans consume multiple legal drugs is absolutely STUPID. Non of your drugs has EVER EVER EVER cured a single thing EVER. Americans need to grow up, and realize that nutrition, and clean, pure food, clean air, and water is the ONLY thing that will sustaine the human body. All you experts need a spanking!!!!!!!!!!!!!!!!!!!!!!!!!

  • Mike

    I just had to add this post to this site. We can not continue to be compartmentalized any longer, all the issues must be viewed together for the big picture to become clear.
    I posted this at a Cambell Brown article “what do you think about illegal drugs?”
    “Paying attention. Good to see, are there any bloggers that recognize that there is absolutlely no difference between legal drugs and illegal drugs?
    Will there always be the division among us? The proponents of legal drugs namely the drug companies, insurance companies and hospitals are protected by big money, lawyers, judges, courts, lobbyists, and elected officials. This is the American way. Free capitolism. Hooray. There are 250,000 different drugs available on the open market. LEGAL drugs. Give or take a few..
    All protected by the LAW. Americans hear about a few cases each year where there was a reaction to a drug that resulted in tragedy, they are LED to believe that ALL the other 249,999 are perfectly safe. The American population is LED to believe that these 250,000 drugs are valuable to the prolonging of life. The American people are not told about the addiction rates that are in the millions and the crimes that are associated along with these LEGAL drugs, the American people are not informed about the crimminal behavior that is practiced between the legal drug companies. The American people are addicted to these drugs and to keep their minds occupied while they are addicted, the news media blows the border up in their face, causeing more hatered, and fear. Yes there are drug crimes, yes there are illegal drugs, yes there is murder, yes there is corruption. How ever there is no difference between legal and illegal drugs. THEY ARE STILL DRUGS, and drug are addicting, and there are millions more addicted to legal drugs than illegal drugs in America, Americans spend more cash on illegal drugs than any other country, while at the same time Americans also spend more cash on legal drugs than any other country as well. It is mind boggeling to process. Just look at how we are led around as puppets, and treated like idiots America. If you think there is a difference between legal and illegal drugs you are exactly where they want you, talk about drug wars, who do you really think is pissed. I would say the drug companies, they are the ones that really want this drug traffic to stop coming from the south. They would rather have the whole monopoly and have everyone one their drugs with the protection of the judges, lawyers, courts, and elected officials, oh and lets not forget all the EXPERTS. This issue of drugs we are disscusing is worth more than the defence budget folks.”

  • Cheryl A.

    End fascism NOW!

  • Cheryl A.

    If I could interview Mr. Ron Paul I would ask him these questions:

    Why the push to revert back to the Gold Standard?

    WE had the same push during Roosevelt’s time and the robber barons were the push.

    When was your Revolution Manifesto written? Was it prior to your running for presidency?

    Why Revolution? Why not Movement?

    I understand that George Washington was a revolutionist, however, this did nothing but set up a form of gov’t similar to what the colonist had with England… So we moved from one form of monarchy to another.

    It seems to me that JFK’s Executive Order 11110 would take the control from the robber barons. So why not push that?

    Also, I have NOT heard one politician speak of the powers of the corporations and/or monopolies. Why not speak of these powers?

    Every war has been to preserve the powers of the corporations and I for one am sick of it…

    It is time for strong laws against corporations and stronger laws to protect the citizens.

    No monopolies NOW! Break up the banking cartel and the corporate power/monopolies!

    Revolution Manifesto is in the direction of Communist Manifesto as it will secure a dictatorship!

    We need a movement!

  • Cheryl A.

    Click on more from this publisher and read The Plot to Seize the White House…

    Both censored books. Yes, these books are banned here in the great USA.

  • Time to Wake Up – Do whats right!

    If we do not get a majority Republican/Conservative/Constitution Party/Libertarian Party in Congress in 2010…

    And if we don’t get Ron Paul in as President in 2012

    The United States we all love will be no more.

    An absolute slave to a global central bank and the United Nations.

  • A citizen asked Ben Franklin “what kind of government have
    you given us”? He replied, “A Republic if you can keep it?”

    SOOO we mustfirst change our own outlook and actions. Backing
    Ron Paul et al is certainly an EXCELLENT first step! Call, fax,
    (, write your senators and representatives can do
    much. We stopped the AMNESTY last year by flooding congress.
    Don’t forget the Democrat House members in Republican majority
    districts who wan to get RE-ELECTED. Several other bills HAVE BEEN STOPPED or at least changed because of constituent action.
    Doon’t let anyone tell you –AND THEY WILL -HAVE BEEN—that those calls and letters don’t change anything. The farm bill MUST be
    stopped; it has provisions to give the AG Dept power to tell farmers what they can grow, animals testing, (run the little farmer out of business, especially the organic farmers at his local market. EDUCATE yourself!

  • Cheryl A.

    Turn off the TV’s and radios folks. These media modes are being used to distract you from what is really going on.

    These people in the media are paid prostitutes! They are paid to tell you lies. The truth is that if they told the truth they would either be killed or not have a job!

    Sad world we live in when power means more than humanity. These are some really sick, inbred minds.

    You called for a leader to rule over you and now those that rule over you are enslaving you further.

  • Cheryl A.


    Thanks for the wonderful comments. Here is a Web site for anyone wanting some really truthful information.

    Remember, that history is a written record of ideas. One must be leary when reading the glossed over books of today. The problem with ideas is the motive behind them.

    The world needs to start thinking as individuals and get out of this hive mentality. Everyone needs to be a leader! Otherwise your just a sheep following a possible wolf in shephard’s clothing.

    Don’t take my word for it as I don’t have all the answers. I know that this world is in trouble because none of the leaders of those countries were elected by the people. They were all aristocratically selected. Makes sense when you think of the media spewing the geneology of this and that president. HMMM. Why should it matter that Obama is related to Bush and Cheney, etc.? Well, if you read you will know it has to do with blue blood running this country. We have never separated from good ol’ England (now the UK).

    Anyone else wondering what this “new” New Deal entails? The last one numbered the slaves. Anyone else wondering what Obama means by spewing out a World a New (New World Order)? How about this terrorist Bush card he is now playing with wanting more soldiers in the Middle East? Did we not get enough of this terrorist crap with Bush? Have we not realized part of the economic slump is that we cannot afford these WARS? War is a racket! It pads the pockets of the rich and the freakin’ working class pay for it with a bigger deficit… People of the world need to wake up!

    All these world leaders are sacrificing their slaves for the cause of a new MONEY system. They want central banks all over the world and those that oppose are getting bombed.

    Are we complacent? Are we selfish to think this will not bite us in the rump? When has it ever been considered terrorism when a people protect their country from foreign intruders?

    Grow a spine Congress! Take back your Congressional powers from these so-called elected puppet presidents.

    This country needs to unite under a great cause called HUMANITY. What ever happened to that love we are suppose to have for our fellow man/woman?

    Greed for power is a sickness!

  • Cheryl A.

    The USA is bankrupt. The Federal Reserve prints our money and charges the USA government interest on that money. It cost 3/4 of a cent to print paper notes. Yes, I said notes. Go to your nearest bank and try to redeem your money (debt). This so-called money represents debt. There is no redeeming debt. Congress has the right to print and coin our money without interest according to Executive Order 11110, however, the USA is not under Constitutional Law. We are now and have been operating under Corporate Law. The USA is a corporation and we, the people, are its collatoral to pay for the outrageous deficit. A deficit created by senseless wars which pad the pockets of the rich. First off the banker cartels own this country due to fraud. The people of the USA never agreed to allow a private institution calling itself Federal to print and coin our money in a fractional reserve (fiat) system. They gain our labor and pay us in debt. It is robbery. This system is purely parasitical. The gap just keeps getting wider between the rich and the poor. There is no longer a middle class. Is it not a wonder that the IRS was created right after the Federal Reserve was created. So is this IRS collecting excise not Income taxes to our gov’t or this private institution???

    Wake the heck up people! You are being robbed by those in charge of the banks. It is WHO is creating our money that is the root of the problem. The INCOME TAX is an EXCISE TAX.

    We have been under martial law since Lincoln. Check out the maritime flag that all the presidents stand beside. This is a military flag…

    I don’t want civil rights. I want my birthrights back! Most do not even realize the fraud behind the word civil. The legal terms used are to protect the corporation. Check your documents coming from the state, federal, mortgage companies, etc. You will see that all your names are in CAPS. Check out Black’s Law Dictionary to see why? A corporation has products not people.

    Worry about why Obama is now spewing out the terrorist card. Worry about what his ‘new’ New Deal is… Roosevelt’s New Deal suckered us out of our birthrights under a Socialistic program.

    • Mike

      I think Im in love, CHERYL A.
      You are a malak, and a true patriot. If I had access to what has been STOLEN from me I would put your post on the front page of every news paper accross the country. Thank you for KNOWING what your talking about. Keep up the great work.
      By the way what has been stolen from me would completely blow your mind. $$$$$$$$$$$$$$$$$$$$. It is heart breaking to know that it is still fake money that was taken, but I would have been able to use it like I mentioned above. They new what I would do so they took everything, family, reputation, employment, everything, patents, inventions, copyrights, everything. Just keeping a positive attitude takes every once of energy I have. Then I read your comments and it becomes easier. Thanks again for your efforts, and imput. TAKE CARE OF YOURSELF.

  • Mike

    Mr. Beck,
    You ask, what can we the people do to wake Washington up? Such a good question. Surely you will get a slew of opinions on this. Which would be a great thing. So here goes my opinion. In order for the people to wake Washington up, the American people first must be awaken from their drug induced, hypnotized slumber. We the people as a whole are numb, lost, and confused. Government was not taught to us in school. We were not told that it was our responsability to hold the Republic in check. Today we hear every where on radio, television, news papers, the internet, and from elected officials that our democracy is this, our democracy is that. Well first and formost sir, we the American people need to read, study, and rehearse the founding fathers documents. By doing this we all would quickly realize that our government was at its conception a REPUBLIC and NOT a democracy. We need to KNOW what it means to be an American and get ourselves away from the proud and arrogant attitudes that so many of us have, with out a clue as to what it means. We can not just say we are Americans. We must KNOW that our founding fathers gave each and every one of us the same responsability of KEEPING the REPUBLIC a REPUBLIC.
    We the people have over time become indentured servants to not our own government, no its much worse than that. We have become servants to masters that now control our so called money, our investments, retirements, our property, our schools, our news outlets printed and broadcast, and our gold. We the people do not understand how this occured we just know that it has. We do not know that the Federal Reserve is a private corporation that operates for profit, that we understand as taxes, which is collected by the IRS and sent to the Fed. Res. private accounts. These taxes collected by the IRS are to pay down interest on loaned greenbacks printed by the Fed. Res. not the principal. We the American people believe that we vote into office our elected officials, we did not know that there were hearings on capitol hill about computer programs that were installed into voter boxes accross the country that would flip 52-48% everytime. We were robbed, and we cry out and demand more of it. This is the saddest situation we could be in, deception is just that you do not know when your deceived or you would not be deceived. We trusted in our government. Thats not our mistake, what is our mistake is NOT LEARNING HOW OUR REPUBLIC IS TO FUNCTION. We Americans are fed up with the way Washington operates, but we are also ignorant as to what would satisfy us. Because we are ill informed, and some are even brainwashed, arrogant, and under educated. This is where it gets tricky. Because of the plans we are all watching come together right before our eyes, the “economic collapse” we call it a crises, but sir the progenitors of this are calling it a success. This is the difficult thing to process. That is where the bill of rights comes in, freedom of speech, and FREEDOM OF THE PRESS. Sir, in all honesty can you say that there is freedom of the press in America today? If your answer is yes than lets start educating America..
    Mr. Beck you are a wonderful American, your talent and abilities are way above average. I appreciate the respect that you show to the people. Your show is humorous exactly at the right time, and the content of your program is most always educational. This post is one of many as of late. Some do not make it past the moderator, and some I wish I would not have made. However the internet is a powerful tool, not only for friendlies, even more so for enemies. By that I do not mean gun toting robots, I am refering to master minds who created this economic servitude and wrapped us all into their bubble. Peace out from Texas

  • Mike

    Glen Beck,
    The treasury doesnt print money. The Federal Reserve has a monopoly on that. Dont twist the facts.

    • Mike

      The U.S Dept. of the Treasury

      Line 4 is deceptive. Although in the locations located in the USA the buildings that house printing presses, and coin presses appear to be controled by the Treasury they are not. The country we now live in exists on a debt, credit, and interest. There is no value to our currency exept for the labor our bodies produce. That is the America we now live in.

      The basic functions of the Department of the Treasury include:

      Managing federal finances;
      Collecting taxes, duties and monies paid to and due to the U.S. and paying all bills of the U.S.;
      Producing all postage stamps, currency, and coinage;
      Managing government accounts and the United States public debt;
      Supervising national banks and thrift institutions;
      Advising on domestic and international financial, monetary, economic, trade and tax policy – fiscal policy being the sum of these, and the ultimate responsibility of Congress.
      Enforcing Federal finance and tax laws;
      Investigating and prosecuting tax evaders, counterfeiters, forgers, smugglers, illicit spirits distillers, and gun law violators.
      With respect to the estimation of revenues for the executive branch, Treasury serves a purpose parallel to that of the Office of Management and Budget for the estimation of spending for the executive branch, the Joint Committee on Taxation for the estimation of revenues for Congress, and the Congressional Budget Office for the estimation of spending for Congress.

      The term Treasury reform usually refers narrowly to reform of monetary policy and related economic policy and accounting reform. The broader term monetary reform usually refers to reform of policy of institutions such as the International Monetary Fund.

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