National Bankruptcy will Repeal Obamacare

Ron Paul tells it like it is: There is no “right” to healthcare. Obamacare will be repealed by a national bankruptcy. The IRS is hiring new agents to steal more money. Central economic planning has failed. A much bigger economic crisis is coming. And, every country in the world is technically bankrupt.

Channel: Fox Business
Date: 03/21/2010


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.

  • Robert

    people better wake up

    wake up america is BROKE

  • dryheaves Daily

    I dont care anymore // lets all go down together eating chocolate pudding

    • Floridian

      That’s the objective: demoralize into hopelessness anyone who cares enough to resist.


    It is FAR MORE than just not “sounding right” it’s SICK and flat out EVIL!!

    Of course this is all being allowed to happen for various reasons but this is what happens when you have sick, satan worshiping, greedy psychos in politics who think that they’re superior to everyone else and could care LESS about you, your children or your LIFE. They see you an nothing more than “Goyim” or ‘useless eater’ that is doing nothing but taking up space on THEIR PLANET and they think that only they have the right to live on the earth and don’t want the rest of the 6.7 billion people on it at all!!

  • Johnny

    Here we go again. The “Greenbergs” and the “Goldman Sachs” family are going to come out winning again. This script is getting very old people. The rich get richer from the poor getting poorer. That just doesn’t sound right at all. Ron Paul for President!!


  • Eddy M

    Unfortunately, the Ron Paul camp won’t drop their unconstitutional religious agenda, and so the young voters will keep them from winning, because to some people their freedom is worth more than their money.

    • SS

      I haven’t heard about this so-called unconstitutional religious agenda.

    • Observor

      What on earth are you talking about? I think you came to the wrong site LOL

      • I was not fooled by the Obama campaign! “John Dingbat is my congressman and no I did not vote for him nor Obama! He crafted this terrible health care bill with this JOKER in the white house, Pelosi, and Reid to force us to buy this misguided health care. I am very much concern about how it’s going to have a negative impact to our country and our people.

  • The mastermind behind this health care bill is my congressman who served 55 years in elected office, and is a Democrat! I live in an area where Obama won overwelmingly with voters! It’s very liberal and there are two college towns.

  • This is the beginning of the end if Americans do not stop it. The reform could be in Tort law to stop greedy lawyers from running up the cost of health care. But, of course, all the voters are greedy and unscrupulous lawyers…Get the muskets out boys. John

  • Prentis Goodwin

    After we the people finish voting for congress this term
    Ron Paul will be the only man left standing

    • Lyn

      I think you give the American people too much credit. Those “we the people” voted for this nightmare. Good luck.

  • Libertarian777

    I think this story sums up politics in general: (modern version of ant and grasshopper).

    The grasshoppers will always vote for any government bill that takes more away from the ants, until eventually there is nothing left for anyone.

    • Ryan

      Clever story.
      I agree, it looks like we’re all going to be sleeping in the snow come Winter.

    • Lyn

      The bigger the parasites become, the sooner the living organism dies. Maybe that’s something that should be put on a billboard under the word SOCIALISM.

  • Jamie Bird

    So, I am a tad confused on all of this. Can someone give me a link to WHAT exactly all of this means?

    Is it rationed care?
    Obviously, the government does not do anything financially well, but just how much higher will my premiums be? Will I have to wait longer at the DRs office? Will I still get to choose my DR? Will this be another program bankrupt in 20 years? Will there be ANY reason left to work, whatsoever? LOL

    Will specialists fall by the wayside because government mandating pay?

    I have so many questions and cannot seem to get the just of this bill! HELP!

    • Libertarian777

      Jamie… there is a lot in it, but the main points that I see are:
      1. no exclusion on pre-existing conditions (i.e. if you have e.g. asthma they can’t deny you coverage)
      2. everyone has to buy healthcare or you get fined

      As Rand Paul has mentioned in his moxnews interview, this bill is covering only one aspect… ‘access’ to health insurance (note, access to health INSURANCE, not necessarily health CARE).

      There is nothing in the bill that controls or pays for the COSTS of this bill (and no the Medicare price controls are not going to keep actual costs down.)

      The reason everyone talks about ‘rationing’ is that with an additional 40+ million people buying health insurance, but costing more overall than their premiums contribute, results in losses to hospitals, doctors etc.
      Eventually either the government has to make up the difference (via deficit spending or more taxes) or they reduce the amount of care everyone can get (via rationing).

      Since its politically unpalatable to raise taxes, rationing is going to be the end result (then again, politically its acceptable to increase the national debt to infinity… $14 trillion ceiling right now and its going to get raised again later this year).

      • Lyn

        I would only add that as you see the costs skyrocket and the system become unmanageable, you will see people being excluded for pre-existing conditions, along with people being denied end-of-life care. Most of those who wanted this free lunch will feel differently when it’s them or their children or their parents being excluded. Life has a way of spitting in one’s face, and today while they may be healthly, tomorrow could leave them with a spinal injury or comatose with from a brain injury in a car accident. Obama’s Death Panel may not find them worth spending the money on regardless of their age. This is something I don’t think many supporters of this bill have thought about. In the government’s eyes, you don’t have to be elderly to be expendable.

    • > So, I am a tad confused on all of this. Can someone give me a
      > link to WHAT exactly all of this means?
      > Is it rationed care?

      It is incredibly frustrating to know that there are tens of millions of people like this one who have no clue what’s been happening for the past year. I can’t help but wonder what hole they just crawled out of!

      • Jamie

        So, you are saying it is not okay to be confused when there are SO many talking heads saying different things?

        One party is saying one thing, the other party is saying another. It gets confusing to know what was changed from previous versions of the bill. I have an idea about the passing of healthcare, obviously. What I do not have a clue about is why you cannot seem to find just ONE answer from either side.
        By the way, no rock hidden under…just no time to sit and watch CSPAN all day…I have a job!

  • Curtiss

    Ron Paul hits the nail on the head again! This bill is horrible! An unnecessary bill passed to provide health care to the small percentage who still are uninsured by burdening all taxpayers for generations to come.
    Wouldn’t the increase of taxes decrease the benefit of being insured under this bill?

  • Jason

    As much as I enjoy Mr. Paul and respect his ethics, knowledge and opinions, I can’t agree with him that American’s should not be provided with (free) health care. America is so overrun with greed and selfishness that the most important things in life are destroyed in the name of the “Economy”. The economy is the mechanism for which our world is being destroyed and the people in it. Our Great great great grandchildren will look back at us and wonder how we got so lost and how we were unable to see a future beyond the tip of our nose.

    Mr. Paul you are a part of this problem, not a part of the solution.

    • Van Wilder

      Its not free buddy… If you listened to Ron you would know that someone has to pay for it. That someone is the U.S. taxpayer who is working for a living. Not the slugs who are sucking the life of our once great country. There is no such thing as free healthcare. Ron Paul is the only answer i wish i could help and do something, im looking for a light and im running for it when i do see it.

    • mark golomb

      it’s “Dr. Paul” to you. and don’t you think a doctor would know what is best for the people of this country?

    • Matt

      You have obviously read only the brochure and not The Bill. There are over 20 changes to the IRS tax code included in this bill (much over 20 I’d guess, but I started losing count). It is certainly not free.

      Something that costs billions of dollars now doesn’t magically become free after a law passes.

      Here’s the basics: taxes go up either by penalty for non-compliance or a straight 5%-9% tax hike based on your income level. That “new” tax money gets filtered through the hands of a newly created Secretary and board of directors in charge of government-mandated/sponsored/run health care. It then makes its way to compliant insurers and providers to pay the normal (what it currently costs) fees of service. It also gets dished out as tax-credits to lower income earners so that they can purchase INSURANCE at a discounted rate. There are also hooks in there that allow the tax rates to increase automatically (that’s magic) as the cost of insurance rises after 2014.

      Bottom line: not only is it far from free, but it costs MORE than we pay now. The only benefit is to roughly 6% of Americans who get discounted INSURANCE premiums thanks to the IRS stealing/taking/taxing it from the 94% of remaining citizens. Take no solace in the high earner thresholds either, as those will come down rapidly as the sky-rocketing costs of health care continue to rise.

      This is a bill that creates and raises taxes to offer discounted insurance to a small number of Americans. It saddles all tax-paying Americans with the currently out-of-control system while it offers no solutions to the cost of care itself. Health insurance IS NOT health care.

      • Libertarian777

        actually, for the next 2 years while the federal government pays for it (until it passes to the states), the money IS magically created from thin air.

        The Federal Reserve just prints green slips of paper, and gives it to the US Treasury that prints pink slips of paper. Ad infinitum.

        Magic, free money for all! And no consequences! (except $14trillion national debt, 97% loss of purchasing power, $3/gal gas but congress doesn’t feel that pain).

        They could do it with the $700billion TARP. They could do it with the $150 billion stimulus, and the 787 billion stimulus and the $15billion jobs bill. Money is free!

        Congress should have added in the bill, that all members of Congress will now have to purchase their own health insurance from this same market place that they have specified will be created by this bill.

    • Lyn

      You are just one of the reasons that Ron Paul, nor anyone like him, will ever see the White House. Let me guess, you voted for Obama or McCain? Bottom line, nobody owes you anything and healthcare isn’t a right. Apparently you don’t care that nationalized healthcare will bankrupt the country as welfare has been doing for years as well. Somebody has to work and somewhere other than the government just to keep up with it all. Socialism DOESN’T work. It takes from someone else to give to another (which doesn’t provide them with any incentive to provide for themselves) and the person whom it’s taken from will eventually quit working because there’s no point in doing so.

  • It is not us that will benefit from Obamacare! It will be the Government, The IRS, & the insurance companies that will still be winners.

  • The very idea of government-sponsored health care at a time like this defies common sense. Needless to say, we cannot fund any more welfare programs when we have a 13 trillion dollar deficit to take care of.

    The unfortunate passage of this bill will only speed up the economic collapse, and not only will we face national bankruptcy, but a world-wide cataclysmic economic collapse will soon follow.

    Too many are ignorant and do not look at the underlying factors of the healthcare crisis, let alone look at common sense.

    • Sinnie

      I believe Obama wants to economically collapse this country on purpose so to create world government and new world currency and the way that he is doing right now is the best way to get this agenda done, including weakening our military so to fit perfectly into the equation.

      Obama and his croonies hate this country, the free market, the capitalism and the pursuit of happiness. If one asks “if they hate this country so much why don’t they just go live somewhere else?”; the point is, to best to destroy a society is to destroy it from within and they are doing it right now.

      We The People keep saying “Don’t they know the stupidity of what they are doing is destroying the country?” The answer is “YES THEY DO KNOW” that is why they are doing it because they have the AGENDA to completely destroy this country so they can restore it back up as a completely different country, the country that they want it to be, either Sociolist, Communist or Maxist who knows? But at the end it won’t be the same America we knew.

      And where is OMMON SENSE in this? The answer is there is no Common Sense with the people who are supporting them because the SELF INTEREST overrides the Common Sense; there are two types of them:
      1 – The lower end group of people who believe that they have the right to everything in life and government should provide for it which called the ENTITLEMENT group.
      2 – The upper end group of people who gain more power and money from the system.

      At the end the COMMON SENSE people like us are the one who will be forced to pick up the tabs and pay for it. But the good thing right now is that the people are waking up and fighting back and we must keep fighting do anything you can do to help to get our country back by getting involved with different patriotic groups whichever suits you best; we can’t fight these people just in discussions alone; take actions and get involved.

      Another big problem that we all are facing right now is AMNESTY they might do it the way they did with HC. If they got this passed then in 2012 Obama will automically get 11+millions new voters for him and we might get another extra 4 more of Obama and also the Dems might be able to recover their majority back in both Houses from the lost in 2010. And since we already knew that these people are lawless, they will trash the CONSTITUTION and might try to manipulate to get rid of the presidential term limit from 2 terms to indefinite just like US Supreme Court until he dies or retires; it is not impossible and this is what we should take it seriously. I would never think what could possibly happen to this country two years ago; if Obama manage to get the second term then within the next seven anything is possible. I don’t mean to scare you but we have to be realistic, knowing who we are dealing with, we have to fight hard to make sure that this will never happen.

      By the way, some might say “not all comminist country is bad, look at China, they are prospered to the point that even America owes them big time.” If anybody interest on the Communist China, just ask the question, I’ll answer that.

  • Van Wilder

    I love how they slid this through during sunday evening when all the protestors had gone home. I heard a report that Nancy Pelosi turned around and looked bewildered when she saw the crowd before she went in to vote. Im disgusted as an american and i need to find another way to fight for whats right. I believe i have the freedom to not pay for someone elses lazy ass if i choose. Socialist banking, education, and healthcare… Am i missing anything? How can I as one man do anything against the machine of governement intrusion?

  • Lon Zieger

    Ron Paul, I’m with you all the way!

  • Thanks to Obama, the USA are now adopting the sad European political model… A model based on public expense, Big Governement, inflation and, obviously, inefficiency (I am Italian, I have a very exaustive knowledge of all the kind of problems connected to a Public Health system).
    Probably liberals think that forcing young Americans to bear a debt of thousand dollars per person is better than paying a private insurance. Moreover, they simply ignore the principles of a real Free Market… But that was clear.

  • This is simply lame. America will bring down the world with it. Go Ron Paul!

  • Fred the Protectionist

    I’m going to use a tactic Libertarians use (and liberals I hear), quote the Declaration of Independence in a general way, like it is law:

    Hey, we got the right to life, liberty, and persuit of happiness!

    • Ryan

      If you watched the video you heard Ron Paul say, ” however, we don’t have a right to health care”. Someone has to pay for it. The liberals think stealing from others is acceptable. The Libertarians do not. As Individualists, Libertarians take the ” pull youself up by by your own boot straps” approach… And rightly so! If we would just keep the government out of the way of business the cost would be affordable to all.

      • Fred the Protectionist

        Hey it says it perfectly clear, “Life Liberty and Persuit of Happiness”, that means health care is a right!

        Unless you want people to die, where is the right to life? Unless you want people to suffer, where is the happiness? Do you ignore the FOUNDING DO-CU-MENTS?!

        (Gosh I love using Libertarian tactics against Libertarians)

        • longshotlouie

          More socialism, Fled?

          Why do you hate America?


          • Fred the Protectionist

            C’mon why won’t you admit my tactical (and strategic) superiority.

          • longshotlouie

            I can settle for the amusement of watching you convince yourself.

    • mark golomb

      replace “pursuit of hapiness” with “property”

      • Fred the Protectionist

        Yes I’ve heard Libertarians are very “property” focused, to the point where they think a person can be ‘property”.

        • longshotlouie

          Fled prefers to be government property.

    • Libertarian777

      Fred… at least quote the Declaration correctly.

      It’s PURSUIT not persuit.

  • Ryan

    This is a catastrophie in the making. These lunatic fringe Liberals will be the death of us all.

    • Fred the Protectionist

      Totally agree on those “lunatic fringe liberals” rooning things.

      • longshotlouie

        You mean Andy Rooning?