Ron Paul’s Debt Ceiling Warning

Date: 05/26/2011


Fox News Anchor: You can get used to that music, can’t you? Ron Paul (R—TX) has a warning about raising the Debt Ceiling. He’s running for the White House, and he’s warning House Republicans not to cave in from pressure on the Left, and this $14 Trillion figure is not going in the right direction for anyone. He’s also running for the White House, as I mentioned. He’s with me now. Congressman Ron Paul, how are you doing, sir? Good morning to you.

Ron Paul: Doing well. Thank you.

Fox News Anchor: You had some pretty stern words toward your colleagues. What’s wrong with raising the Debt Ceiling for a short period of time?

Ron Paul: I think, “for a short period of time”: that’s the problem. I think it will only encourage spending. We’ve been raising the debt limit for quite a few years. I was concerned about too much spending back in the 1970’s. So you know what I’m concerned about now, because I thought in the 1970’s this would continue, and we’d wind up in a financial crisis. And we’re in the middle of that. So to continue the process is just like driving yourself into a cliff.

Fox News Anchor: But do you have any information that would suggest the Debt Ceiling would not be hiked at some point very soon?

Ron Paul: No. You know, I—

Fox News Anchor: So, it’s going to happen then, you think?

Ron Paul: I think it’s like the C.R., down to the wire, to the last second. I think it will be raised. So our problems won’t be solved; that means that— See, the two things that permit the Congress to spend will be raising the debt limit, and, not even thinking about or addressing the subject that if we have too much debt the Fed can monetize it. Those are the two big problems. And I object to both.

Fox News Anchor: Well, what? If you trim the spending, would you give a little on that? Or are you going to hold firm on your position?

Ron Paul: Oh I wouldn’t—I don’t believe in those kind of deals, because you know—let’s say they raise the debt limit and they promise to cut so-much in the next five years. The only budget that counts is this year. They can’t predict revenues for next year; they can’t predict unemployment; they don’t know what interest rates will be. So it’s all up for grabs. So to say, “Oh, in a year from now we’re going to cut spending,” I don’t believe that.

Fox News Anchor: The reason I asked you that is because you voted against Paul Ryan’s plan, his budget, which a big part of it was trimming Medicare. According to him, he could save about $6 Trillion dollars over ten years. Why wasn’t that good enough to support?

Ron Paul: Well, you know, I gave him a lot of credit for at least addressing it. And I think he gets a bum rap when they paint him as “destroying Medicare” when he doesn’t even touch anybody 55 and over, and he makes an honest effort to make a proposal. But you know, when you looked at the deficit five or ten years out, his deficit was only slightly better than the Democrats’ and the President’s deficit. So, and like I said, it doesn’t really count. The other thing I said—

Fox News Anchor: I think the phrase you used was “rather feeble,” talking about that. By what way? Was he not taking out big enough bites for you, or not?

Ron Paul: Well, I don’t think it was in the right place. See, I think we should take a look at the military-industrial complex. I think we should look at the empire, because that’s unsustainable, too. And there’s a growing concern about that. And right now we’re voting on the DOD [Dept. of Defense] budget, and there’s a strong sentiment to say, “You know, enough is enough. It’s time that we start coming home.” So I want people to look at the entire budget. But I like the position of being able to opt out. The Republicans are right when they were screaming about Obamacare: “We want the right to opt out!” I do! I want the People’s right to opt out, and do our best to cut back elsewhere, and try not to throw anybody out in the street. But as long as we do nothing, everybody’s going to thrown out in the street, because we’re going to have a dollar crisis. And that is much worse than anything we have faced here in the last 20 or 30 years.

Fox News Anchor: Gallop comes out with a poll, just today in fact, that has you running with about 10% support right now in the Republican field. [Graphic: “Possible GOP Candidates”: Mitt Romney 17%, Sarah Palin 15%, Ron Paul 10%, Newt Gingrich 9%.] There’s your top four; you’re ranking #3. You made a comment just this week about Mike Huckabee dropping out in Iowa. You think that “favors you”? And then you said, “Over the past four years, things have changed in a significant way… and people are more enthusiastic.” In what way do you sense that?

Ron Paul: Wow. Well, in everything that I’ve been talking about—the financial crisises [sic] here, it wasn’t admitted to in 2007 and 2008, and now everybody knows it’s here; they talk about the Federal Reserve; they’re talking about foreign policy; and they’re talking about the serious nature of what we’re facing. But the receptions are different. The crowds are larger and more exciting, and with Huckabee out of the race there’s a lot of good Conservatives there that want to stick to their guns and cut spending. So yes, every place I go, the atmosphere has changed. That doesn’t mean that everything is going to be “smooth sailing” and it’s not a big job for me. But, I know what’s ahead, but I do know that the sentiment in this country has changed dramatically in the last four years.

Fox News Anchor: The last time we talked—I think it was two weeks ago—you said that you were talking about this for decades, and now people are coming around to your kind of thinking. So, we’ll see whether that carries you through in Iowa. Thank you, sir. We’ll talk again real soon. Ron Paul, the Congressman out of Texas.

Ron Paul: Thank you.

  • fbekk

    I love Ron Paul in general but not raising taxes on the rich & big corporations and letting the common man pay for everything is an outrage.

    The Tea party ruins America’s future


  • StuckInTheSky0’re fugded?

  • ThePeterKrpan

    America’s debt is bigger than the fucking ozone layer, or jenna jameson’s asshole.

  • DuecePiece

    Ron Paul is THE MAN! Fuck what you heard!!

  • orange70383

    RP is a shill; he’s been given the sword to be the hope and end of the truth movement. Think about it what a better way to pacify a large group than by giving them a controlled voice that has been constructed to be a mouthpiece that tells you were doomed. How convenient.

  • hemicuda10

    A Letter to Standard and Poor’s and Moody’s

    We the People of the United States of America, who work hard for every dollar we make, are not going to accept that you are even thinking of down grading our AAA credit rating. This is not the rating of the Federal Government; it is our rating, the peoples. The same people that paid the taxed that were taken from? us by the Federal Government that was spent to bailout the companies and banks you have in your portfolio

  • hemicuda10

    The same people that have billions of dollars invested in those same companies in our 401k, mutual funds and personal portfolios. The result of you downgrading the people will be that WE will have to pay more of all the things WE buy, not the Federal? Government, because they do not make the money they have, they take it from us. I will go to the point that a good part of the companies, CEO’s, and board members are the same elitist left that helped get President Obama elected.

  • hemicuda10

    That makes this situation even more your fault, and less of ours. I, unlike my friends on the far left believe in capitalism. The right of the people to influence the markets with their feet. If they do not like a product, service or action of a company, they? can take their money elsewhere.

  • hemicuda10

    There are plenty of good companies that are not associated with you that we can invest in. If you are going to hit US in the pocket book, WE can yours. I suggest that the day you downgrade OUR rating, we pull ever dime out of? the S&P and put it in companies that believe in the American people.


    A Citizen of the United States of America and a investor.

  • halcyon0830

    “The fact that we’re here today to debate raising America’s debt limit is a sign of leadership failure. Leadership means ‘The buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”
    Senator Obama in 2006
    freerepublic. com/focus/f-news/2756340/posts

  • neymoura

    I think Ron Paul is awesome.

    But I dont think he has any chances to be the republican candidate for 2012.

  • forexmarketz

    This interviewer is a hater and is working for a Jewish company lol.
    Being sarcastic, arrogant, snob is not going to get him anywhere in life. His mother didn’t teach him any respect for the elders. Ron Paul can school him a thing or two about life and politics but obviously there is more bigger, better things need to be done by Ron Paul than to teach the smartazz interviewer any wisdom.

  • 2009frankcastle


  • DarthMink

    Ron Paul is awesome.

  • energyfinance

    That INTERVIEWER is going to get his a** kicked by somebody.

    He shows little respect to the man being interviewed.

  • kiwitedferny

    Fuckin’ TV ‘talking heads’ – all ‘attitude’/No substance. The arrogance is breath taking.

  • qigong1001

    Oil companies are subsidized by the American taxpayer…of which the middle class (as usual) is affected the most. Its not a “tax break”…its worse!

  • polarbeach

    the roof the roof the roof is on fire

  • ednan9

    they should be raising the roof 🙂

  • dyingtolive123

    lol sarah palin above ron paul haha, goodbye america! stupid ass yanks