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.

  • whitehorsejason

    Cont~~~ News should be fair and impartial and laws could do this. Now all you have is entertainment, or a paid point of view. You need to take control of your businesses activities and limit their powers. You have to stop politicians from being paid puppets. You should eliminate corporate political contributions and there should be severe penalties for politicians that breech public faith. Those who have set out to deceive you have proven they are not capable of policing themselves.

  • whitehorsejason

    I feel that a lot of Americans are starting to understand the real problems. Without demanding it, ” change” as Obama put, never real will come. All your choices are the same and will bring equal harm. They do not represent the American people, they represent those that pay their way. You need to stick together and forget the divisive issues as most of them are just created to do just that, divide and conquer you. The debt ceiling is another in a long list of bullshits. Cont~~~

  • lysenko133

    I dont give a shit about what Ron Paul says, or Palin, or Obama, or any other piece of shit in the government. I AM NOT paying any more useless fees and taxes, Ron Paul is all talk, Obama is all talk, Palin is all talk, how much longer will you fucking people realize that every politician lies and every president lies…or are you to busy staring at your fucking driod or many useless fucking people in America, maybe…this depopulation isnt such a bad idea

  • lysenko133

    I CANNOT understand what is so fucking hard about cutting spending. HOW ABOUT we fucking cut the pay on these shit eating asshole politicians, that dont do shit for anyone except get a paycheck to sit on their ass. How about we cut Social Security for people that have not worked a day in their life but are perfectly able to. HOW ABOUT…instead of charlie sheen, we can talk about something more important. AMERICA = SELF INDULGED, GREEDY, MATERIALISTIC, SUE HAPPY, PIECES OF SHIT. EMBARRASSING.

  • Ottoguitar51

    those republican pussies i helped vote into congress were fuckin scared into voting this bill in. when will someone grow some balls and stand up for whats right. this debt ceiling raise is wrong. its just wrong

  • MagnusIan

    Any poll that states some other republican candidate has a higher rating than Ron Paul, it’s most likely going to be absolute horseshit.


  • MagnusIan

    Any poll that states some other republican candidate has a higher rating than Ron Paul, it’s most likely going to be absolute horseshit.

  • Rawego

    Ron Paul: the economy is in trouble… blah blah blah blah
    Fox Host: but i’m a good looking guy with a female staff partner with GREAT LEGS MAN!!!
    Ron Paul: we can’t raise the debt ceiling and expect to… blah blah blah blah
    Fox Host: yeah, but i’m a good looking guy with a female staff partner with GREAT LEGS MAN!!!
    … and the bullshit continues :))

  • Rawego

    keep kicking that can down that road, RIGHT OFF THAT CLIFF!!! :))

  • backlighting

    “Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others.”
    …Ayn Rand

  • 87cadillachearse

    To raise the ceiling you must raise the roof as well.

  • Bigheadtf

    Ron was talking about this long before you were running down your mom’s leg…

  • VietMan04

    Sarah Palin is beating Ron Paul 5%? Srsly America?

  • noorgard1

    I have a few ideas that will work. See my channel and lets work together to solve the problem. Instead of talking about what is not working; lets work on fixes for the problems. We could start by localization instead of outsourcing.

  • VigilanteLawyer

    I noticed how often he uses the word “think” in his claims he makes..
    THINKING is NOT knowing!

  • jayrod59

    The host is an arrogant putz that brings nothing worthy to the discussion. What Ron Paul is saying went right over this guys head. Ron Paul is the only candidate that truly understands economics and how everything fits together.

  • MrHopkinsproductions

    news anchor guys a fuckin douche

  • OrganNLou

    Ron Reagan Raised Debt Ceiling 18 times/199% increase during his time as president!!!

  • fbekk

    astrofrk, agree. Both parties are at fault here.
    Where can if find the -no empire overseas – higher taxes on the rich & corporations and no printing money out of thin air- party?

  • astrofrk

    To put this in the simplest terms. We are FUCKED! The longer the Republocrats and Demopublicans put off the inevitable, the more fucked we are. It’s too late! Bush turned the economy into a runaway train and Obama just kept shoveling in more coal. By the time the debt hit $10 trillion, we had reached the point of no return. Neither of the two parties (really is just one two headed monster) want a solution, they are the problem. So what did we do? We kept voting for more of the same!