Ron Paul’s Debt Ceiling Warning

Date: 05/26/2011

Transcript

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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.

  • shawnjohn0369

    The interviewer is such a idiot he makes these crazy faces whenever ron answers a question he looks so empty and fake where do they get these people that poll is so fake sara palen come on what a joke mitt romney what a joke i hate these puke bags
    RONPAUL 2012!!!!!!!

    »crosslinked«

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  • natepepin09

    Palin number two? Really?

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  • Black4Skull

    RON PAUL 2012 KILLUMINATI

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  • wingsofliberty437

    Look at that debt counter go go go. Apparently, Bernanke isn’t familiar with the term STOP!!!

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  • FairEnterprise

    Fox just dont like dr.paul

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  • JesseVenturaSeals

    Bullshit Poll. This is pissing me off.

    Thomas Jefferson 2012

    I mean

    Ron Paul 2012

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  • 1234dpeck

    The News Anchor is being a disrespectful, little Asshole! – and where the hell did they they get that Bullshit Poll from? Mitt Romney’s secret Harem of Wives? ….or George HW (Senior) Bush’s Ass?….Where…?
    As usual, Ron Paul is RIGHT, again and those Gun Control-Freaks-Romney-Brown-Nosing -Trashing-the-US -Constitution Worms are WRONG!
    Ron Paul – 2012 – Liberty!

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  • Tranceation

    If not Ron Paul now…we will be looking at another 4 years of Obama policy where he can be ultra aggressive since he has now more worries about re-election.

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  • Wallhammer1337

    When truths are so obviously said, Yet some fellow americans are victims of politcal manipulation..wake up!!! RON PAUL 2012….hell I’, not even a Republican, but old school republicans were decent ppl..REPUBLICans…duh…ron paul 2012, bitches!!

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  • TheAlohaRobert

    Ron Paul is right on this issue

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  • shawondemand

    foxnews website

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  • rpnp1

    that interviewer is a complete tool and after watching gallup polls for awhile now.. i am quite sure they pull there numbers out of there asses

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  • ghostKurt

    Has anyone else noticed that Ron Paul is NOT on most of the mainstream media’s GoP polls?! What’s up with that. Also, Congressman Paul, why are you even bothering with this clown?

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  • daviddalbylive

    Banksters favorite song … Hey Big Spender your a Debtor … spend a little debt with me … then wait till the Banksters apply the Squeeze and raise interest rates … ouch.

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  • jess1up

    I can imagine this perfectly. America is a 16 year old girl with a credit card that has more credit on it than all of her friends. She thinks she has to show off and she spends way more than is on the card. She gets into debt, since she’s so stupid she keeps spending money she doesn’t have. Her parents or (the people) aren’t good parents and give in to everything she asks for. A good parent (American) would tell her no, no more spending, you’re beyond the limit and I’m cutting your allowance.

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  • bwild61

    Our Country and we the people need someone in the oval office who has good judgement and can make sound decisions and that someone is Ron Paul. Vote For Ron Paul in 2012.

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  • achzdck

    FUCK WASHINGTON DC -IRS – DEA – where the some of rich elite politicians have held office for 30 FUCKING YEARS .FIRE THE SON OF BITCH’S……AMERICANS ARE THE MOST GULLIBLE BI-PEDS ON EARTH. Keep the same people that CREATED THE PROBLEMS WE FACE – AND NOW THEY ARE GONNA FIX IT ? ARE YOU OUT OF YOUR FUCKING MINDS ? tHEY BORROW 188 MILLION DOLLARS FROM CHINA EVERY H-O-U-R !! GOV. CHEESE ANYONE ? YOU PEOPLE THAT PUT A POLITICAL PARTY AHEAD OF YOUR HOMELAND WILL SOMEDAY BE OWNED BY THE SAME PARTY !

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  • Salladsdressing

    Mitt Romney and Sarah Palin!?

    Good….a Mormon and a Moron for president!

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  • Leftovervictim1991

    Restore America Now! Defend Liberty! Vote Ron Paul 2012!

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  • achzdck

    NO GOVERNMENT EVER GIVES UP ITS CONTROL OF THE PEOPLE. This country is headed for for a shit samich and NOTHING will be done until the bottom falls out and disaster is emminent. THE FUCKERS THAT MADE THIS MESS DO N-O-T HAVE THE BACKBONE or COURAGE TO FIX IT. OUR GOV. HAS BEEN BUYING VOTES WITH OUR TAX MONEY FOR 40 YEARS….. free handout checks , Gov. housing projects ,free phones for the poor …….the list goes on and on and on …Obama bought the union vote with GM BAILOUT.. ALL IS LOST !

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