Channel: Fox Business
Stuart Varney: Let’s bring in Texas Republican Congressman Ron Paul, joining us from Washington. Congressman, always a pleasure to have you with us.
Ron Paul: Thank you.
Stuart Varney: I know you oppose this deal, this healthcare reform bill. We’re assuming that it is going to pass, by all the vote count looks like it is there. Could you tell us what is your biggest single objection to this healthcare bill?
Ron Paul: Well, there’s too many. It is just wrong policy, it’s bad economic policy, it’s bad moral policy, it’s bad constitutional law. But the process is just outrageous. I mean we’re voting on a rule and we’re gonna pass a bill and then the bill will be doctored up a little bit after it. But this idea of an executive order amending the bill, just is such an outrage.
I mean, the process on the floor is such an outrage; at least they are talking about the outrage. But to think that we’ve gotten to the point where we allow our President just to write an executive order, it’s the law of the land. There’s nothing conceivable about that being constitutional.
Stuart Varney: You mentioned some moral problems that you have with this. You see, you talked about the legal problems, political problems, financial problems, all the rest of it. Okay, spell out the moral problem that you have with healthcare reform.
Ron Paul: Well, we’ve been involved in medical care for more than 50 years, which I object to because it’s created this monster: managed care. But all these interventions by the Republicans and Democrats is based on the assumption that people have a right to medical care. And you don’t have a right to medical care.
You have a right to your life, you have a right to your liberty, and you have a right to take care of yourself. But any way, any time a government tries to give you a service or something of substance, they have to steal it from somebody else. So, the whole process is immoral because it is based on government theft. That’s why they’re hiring 16,000 more new IRS agents, so because they have to steal more money.
Stuart Varney: Okay, when we passed it today and I believe it will pass, looks like the votes are there, what does it take to repeal it or roll it back? Surely, it would take 60 Senate Republican votes, a Republican in the White House and a very significant Republican majority in the House. And that sir, looks like an awful long way off.
Ron Paul: Now, the bankruptcy of this country is gonna repeal it because we march onward with whether it’s the endless spending overseas, or the endless spending on welfare, no concern about the deficit. The national debt is going up $2 trillion this year and nobody takes any concern. They don’t realize how serious this is. They’re oblivious to the seriousness of our economic crisis.
We’re not getting out of this crisis, we’re just on the verge of getting in to a much deeper one. And this will precipitate that, and so it will be the bankruptcy of the country and it will be defined by the destruction of the dollar, and government won’t be able to pay any anything out. This is why the people are so upset. It’s because even the liberals realize the government can’t deliver the goods anymore.
Stuart Varney: We talked about this before. And I’ve asked your time horizon on this economic catastrophe, the point at which the markets bring us all up short and stop this spending and debt accumulation. Your time frame last time we talked was over the horizon. It was 2 or 3 years away. Have you brought it up closer because of healthcare reform passage?
Ron Paul: Well, tonight when this passes it will be a major step closer to it. But the events are predictable that are coming. Just like the financial crisis was predictable, but nobody knew that was in September 2008 that that was going to hit us or that the NASDAQ bubble was going to crash in March of 2000.
We don’t know those days but we do know events will come and we have embarked on a course that is unsustainable. You cannot spend this kind of money, borrow this money and create new credit to finance this debt. It will end, it will end badly and it will hurt the people that… many people are very seriously trying to help the people who are suffering and help with medical care. But they’re doing it exactly the wrong thing. Medical care will get worse and this country will go into bankruptcy.
Stuart Varney: The executive order which the President will issue on the subject of abortion, that’s not – is it unconstitutional in some way? Can that be repealed and rejected?
Ron Paul: No, not in today’s circumstances. They’ve been doing this, you know, “stroke of the pen, law of the land, kinda cool”. They’ve been doing it for a long, long time. But you know this whole idea and argument over abortion is not in reality a sincere argument. It’s sincere but it doesn’t accomplish anything. The Hyde amendment doesn’t accomplish anything because we would deny funds going to pregnancy centers and say don’t use any money for abortion.
But all funds are fungible, so this idea that we say don’t use any money. […] money pours in the hospitals and the clinics. If they do, they just shift it around. This idea of fungibility is so clear that this whole argument on the abortion issue is really not touching the right point and that is, why is the government involve in delivering healthcare, why is the government involve in pretending that this is a viable way of delivering anything?
Central economic planning, if anything the 20th century proved, central economic planning fails. Every country in the world today is on the verge of bankruptcy. People brag about other countries having cheaper medical care and all. But every country in the world is technically bankrupt and we’re marching on to a really worldwide economic catastrophe if we’re not careful.
Stuart Varney: So, another dark day for America. Congressman Ron Paul, telling it how he sees it. We appreciate you being with us again, sir. Good to have you.
Ron Paul: Thank you.