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.

  • FreedomsReigning

    The Ron Paul Censorship is out of control. Let’s just hope everybody can now see through this fascist media circus.

    »crosslinked«

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  • garrethdavis

    They have the debt clock in the background and this tool doesn’t see what’s wrong. God this is fucked up

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  • StopTheMorons

    Ron Paul ought to introduce a bill that puts limits on how much the corporate media can talk about candidates in the lead up to an election.. It makes absolutely no sense to tolerate their polls, I think they are fake, but fake or not, these polls and their talks which practically endorse only the candidates they want surely ends up influencing the uninformed voter to vote a certain way. Unfortunately the uninformed voter seems to be the average voter.

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    • tj

      To: StoptheMorons

      I will ASSUME for the moment that you are a Ron Paul supporter — based on your dissatisfaction towards the way he is being treated. Therefore, I would humbly like to remind you that Ron Paul is a libertarian. So, when you use a statement like “introduce a bill that puts limits” you are OPPOSING FREEDOM.

      We will take your vote, but Ron Paul will NEVER “introduce a bill that puts limits on how much the corporate media can talk about candidates in the lead up to an election” like you propose.

      Ron Paul 2012 …You are either for FREEDOM, or you are against it — but even if you are not totally for FREEDOM yet, please vote for Ron Paul 2012.

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  • glessnerdawg12

    I love ron paul, but everybody who has been commenting saying the interviewer is an asshole needs to shut up. Just because you dont agree with someone 100% or if he is asking questions harder, whats wrong with that? Its s annoying to seeevery video where someone challenges ron paul. WHAT AN ASSHOLE THIS INTERVIEWER GUY IS. Libertarian philosophy will win out

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  • http://www.youtube.com/watch?v=wXvRDmM5Zx4 BJColter

    Keep the faith, Mr. Paul. You are absolutely the best! I just finished up this song about the Satanist Obama.

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  • smokeyandcraig

    what an asshole that interviewer is. fucking meat head.

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  • daisy

    Ron Paul for president 2012! I didn’t know much about him but have been doing research and it didn’t take long to realize that Ron Paul is not your average politition. He makes sense and is honest. I hope he wins!! I hope he inspires others who will be running for political offices in the future! Im hoping our future will be bright, that’s why im voting for Ron Paul. :-)

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  • Patriotsurvivalist0

    Doesn’t this talking head act like he can’t stand Ron Paul? This isn’t honest journalism, it’s an attempt to make Ron Paul look like a fool.

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  • jugeteable

    JD Wells Tea Party Conservative, Loves The Federal Reserve & Hates Ron Paul?
    watch?v=nTQh9yJ_8TM

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  • tipsy3T

    He may be running as a republican but Ron Paul is above the two-party system.

    Like or Dislike: Thumb up 3 Thumb down 0

  • ChristianWorldOrder2

    please WIN this ELECTION Ron Paul!

    Like or Dislike: Thumb up 2 Thumb down 0

  • tj

    Social security and Medicare are two POnzi Schemes which will forever more be taking in les than it spends…financial disaster will occur soon if nothing is done.

    The question we should be asking our REPUBLICAN friends (I am a libertarian who is seeking the transformation of the Republican Party…like ROn PAul) is do you favor PHASING these programs OUT or do you want to reform them?

    You would be surprised at the number of Republicans who still believe the function of government is to FORCE people into a retirement plan that is both insufficient and unsustainable.

    The programs cannot be tinkered with. They must be PHASED OUT. Ron Paul knows this…Ron Paul 2012…you are either for FREEDOM or you are not…..

    Like or Dislike: Thumb up 2 Thumb down 0

  • Tony

    WKaliberr, he protects your right to say that about him. Seems like most other politicians would rather just do away with that ‘old timey’ concept known as ‘freedom of speech’.

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  • Gioxtream

    OBAMA POLICY: I Believe In America !!! ( I got Novel price of peace…Let’s blasts Libya.)

    Romney Policy: YES WE CAN ! I believe in the American dream.

    Palin Policy: Is not what you country can do for you.Is what you can do for you Country.
    Gov. Pawlenty Policy: The real Change has come to all.

    DR. RON Paul Policy: Let’s end the Criminal FEDERAL RESERVE.BRING OUR TROOPS HOME, CLOSE THE 900 MILITARY BASES AROUND THE WORLD.SAVE BILLION OF DOLLARS. 10% In Taxes Ron Paul 2012.

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    • Michael

      Another illiterate hillbilly for Ron Paul. Are there enough hillbily idiots in the country to get Ron Paul elected to dogcatcher in Incestville, USA?

      Like or Dislike: Thumb up 0 Thumb down 1

  • Gravija1980

    Wow, this newsdroid is a piece of TRASH

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  • Jimbo

    Dr. Paul will not compromise his beliefs. Ryan’s attempt was yet another trick so to speak. It is not at all addressing the real issue. Without changing our monetary system, our spending and foreign policy Americans will see no real relief. Ron has always stood tall to his beliefs and does so for reasons. One reason is he is trying to show congress as well as the American public where the real problems exist. Trying to get educate, get people talking and doing research on their own. It is very important to stand behind this man and understand why he takes such firm stances on issues. He is potentially creating great politicians for the years to come. By settling on issues the revolution wont be as strong as passionate. Even if Ron Paul does not get elected and trust me the elite corporations, banks and media will do all they can to smear propaganda against him and his ideas, what he is doing is opening many peoples eyes who potentially can make a difference in the future. He is such and admirable man and a true patriot.

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  • MrDaleaaaa

    if ron paul win you win because the country will go in an american direction .thats what all of these anti americans don’t want the want to keep buying poltical power they do not want free trade espeailly free trade for you and me .no monpoly money then is over for the vot buyers

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  • ggeorgewashington

    Ron Paul 2012 please.

    I am a Ron Paul Republican, check this guy out!!!

    Thank You

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  • PeoplePower

    Dear Ron, keep up the good work can I raise my own debt limit whenever i like too ?

    I advise all folks to buy silver & gold or any of the precious metals even tungsten is more valuable than the dollar, lets see if the Federal Reserve can really turn lead into gold … lol
    End The Fed & all associated banks, corporations ect watch out Ben Bernanke + friends
    plays: “I Can’t Decide -Scissors Sisters”
    http://www.youtube.com/watch?v=Bbb56jZo0rE&feature=related

    Go Ron Paul :-)

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  • archifiable

    The media is totally turning on RP again… They talk down to him, when they should really be honoring him for his courage to stand up for our liberties. Its a damn shame.

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