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.

  • King100Joe

    he looks hurt when he hears 10%, but gallup didn’t give a good poll. there are no other polls= no need to legitimize poll.

  • vulnerabledonkey

    I’m not American, but I think this particular issue applies as much to me (as a Briton) as it does to you guys. Military spending that goes far beyond what is needed to provide a basic defense of the realm goes into the hundreds of billions (and in your case) trillions of dollars. Imagine if that money weren’t a). taken from the taxpayer and b). taken from generations worth of future taxpayers. Imagine the prosperity that could be created at home AND abroad if our leaders were less power-hungry.

  • maiafleur

    Geez, that reporter was such an ass.

  • squaredeyeball

    It is unbelievable how FOX brings all kinds of distracting numbers and facts and stuff to the screen to focus your attention away from what R. Paul is saying. I personally had to watch the video twice to fully focus and listen to his responses.

  • MrPatrick2011

    mox news

  • bestwayusa1

    Americans 93 % none union and our 7% union work force we must all unite for liveable wages and healthcare. Don’t be spellbound by the talking media heads of the unscrupulous companies and Gov officials who indirectly work for them. And are trying to put a wedge between us None of them are hurting are they. Support only fair trade! And USA products. Lets fill our coffers again. With taxes made by product’s made here. Go on line to– American Made— Tell stores to support American Made.


  • Rusi101

    Vote Ron Paul AMERICA!
    Stop bombing the shit out of the third world
    Disband bohemian grove club
    And stop printing all that god damn money!

  • Operationjugular

    Will Ron Paul ,when he gets elected be honest and tell the people about HAARP,NWO and 911 or will another President bury the truth…It would be great if someone could ask Ron Paul face to face and get a straight up answer….

  • 1cont

    Who votes for Sarah Palin? She is obviously a tool of entrenched republicans. Romney I can understand having some good poll numbers… big money and good looks,.
    However, RON PAUL is the man who has the best ideas and the best love of constitution and wisest approach to economic issues. Cut out the root problem of a Fed that funds overspending! +balanced budget amendment
    Sensible foreign policy and a sincere love of personal liberty that no one can match.

    Ron Paul 2012, or sooner

  • Shawoman

    Proposed 28th Amendment to the United States Constituti­on: “Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representa­tives; and, Congress shall make no law that applies to the Senators and/or Representa­tives that does not apply equally to the citizens of the United States.”

  • uturniaphobic

    how can RP be at 10% and win the CPAC two year in a row? c’mon quit owning our media

  • Demov12

    The mainstream media act like bullys when they dont want someone who can actually change things.

  • rnade

    I love Ron,,,, but america still believes in pie in the sky and the FED… The only way america will waken is when the Dollar crisis hits and the credit cards don’t work.. its very sad but true…

  • 123chargeit

    That guy was being a straight up jerk. This country needs someone like Ron Paul. He will actually bring on change and not just talk about it.

  • Vitam1nWat3r

    Everyone watching this needs to tell their families and co workers etc. about Ron Paul and raise awarness or no1 will know enough about who he is. If we dont want Obama back in office like me We all have to get out and vote for him. Obama is just a puppet continuing George Bush senior and jr.s agenda…

  • a4finger

    Ron Paul is completely right. Just like he was right about the financial disaster that hes been predicting for years.
    Ron Paul for President 2012!

  • shotsky94

    Ron Paul wants guns on aeroplanes. He wants prostitutes to roam free. He hates Bernanke who saved us from depression. He wants no blacks allowed sign. He wants us to walk around with big bags of gold and silver to conduct commerce. He wants oil companies to keep raping the planet. He is a secret 9/11 truther, just like most of his supporters.He is the definition of FASCIST. Mussolini wouldn’t even come close

    • Libertarian777

      please get a life.

      He wants free markets.
      If you don’t want to fly on an airline that allows guns on planes, you can start your own ‘no guns allowed’ airline. You are not required to fly either airline. If more people fly the ‘no guns allowed’ airline (because THEY CHOOSE TO), then the ‘guns allowed’ airline goes bankrupt. No bailout from the government either way. Right now you have no choice. If you want to travel long distance, air travel is your only choice, but your only choice pre-flight is to be irradiated or groped. No choice to fly on an airline with gun carrying passengers. You’re ok with federal air marshals carrying arms on the plane, when a lot of them have less training than most CCW carriers. Much like TSA agents are not trained radiologists and would have no clue if you were being overexposed to radiation in their ray machines. Just because they have a government job does NOT mean they are better trained.

      If you want to charge money for sex you are welcome to. If you don’t want to use a prostitute you aren’t required to. Just because its decriminalised, RP is not mandating that you HAVE TO VISIT a prostitute. If you don’t want prostitutes in your area they have to obey private property rights and must leave your premises. If its an issue you get all your neighbours who own the property in the area to enforce their private property rights to force prostitution away from your neighbourhood. The federal government doesn’t have to mandate this.

      If you want to serve blacks you are allowed to. If you don’t want to serve blacks you are not required to. It’s that simple. Over time either your business makes profits or the business that caters to ALL people makes profits. One of them will fail. Note that there is a presupposition that the government doesn’t stop the black guy from opening his own shop and similarly he could refuse to serve white people. (yet years ago the government stopped the black guy from opening a shop in the first place).

      Walk around with bags of gold? 1 gold coin that weighs 1oz is currently worth $1600. Do you carry $1600 in cash in your wallet right now? And there’s a thing called technology. You know, like credit cards? Debit cards? The digits that are on there could be backed by a gold based currency.
      Again though, free markets, you would be under NO obligation to accept or use that gold backed currency. You could continue to use debt backed linen as you see fit.

      Oil companies raping the planet? Well how about we stop demand for oil then? Please stop driving your SUV (by your choice ;or maybe you’d prefer the government to mandate it and send a SWAT team over when you don’t comply). And please stop eating cheap food that’s grown using oil derived fertilizers. Again, free market choice. The government shouldn’t be mandating 15% corn ethanol in your gas, when it has a lower energy density and requires more energy than gasoline to manufacture. If you want to drive your 5 litre SUV with 100% ethanol that’s your choice. If it’s such an issue for you, being a free country, you can start your own company to come up with alternative energy solutions. If it works you’re rich, if it doesn’t work you go bankrupt. You’re also welcome to exercise your 1st amendment to speak out against oil companies (just don’t be a hypocrite and drive there in a gass guzzler; and don’t eat any mass produced food)

      How can RP be facist? Didn’t Obama just remote sign the Patriot Act extension which has so much secrecy built in for ‘security’. It’s like Stalin and Mussolini’s and Hitler’s ‘secret police’. Accountable to no one except the president. Who’s more facist?

    • Jimbo

      you say he wants…he wants… he wants. though it is clear you have no idea. it is clear you are unfortunately just like many uneducated Americans voting for the status quo. and it is sad you believe bernanke saved our country, if thats truly what you believe. however, you are the exact reason Dr. Paul is running, he is an educator. he wants us all to do our own research and actually understand why we face the problems we do. also you will find few comments bashing those politicians running against Ron Paul, of course there are a few but not many. why? because his supporters are highly educated on these subjects, read his and others books, watch all of politics, know whats going on in the world, have a desire for freedom and have to the maturity and intellect to see how these opponents are bashing themselves in fact i cant help but laugh at times regardless thanks for logging on to the page and sharing you thoughts unfortunately we can do nothing with those if you ever have real intelligent concerns please let us know, this is how freedom works. Ron Paul 2012

  • ricsenTV


  • Gioxtream

    10% For Ron Paul??? LMAO. I believe Like the last time Fox News need to Apologies again with DR. Paul.

    ROn Paul should be In MItt Romney Place. Just a Moron Would believe those pols.


  • KillBaddBugz

    Pathetic MSM DOESN’T EVEN EVER MENTION RON PAUL! Talk about conspiracy theorists! They are! I could give a $*%T less about Palin. I mean, I like her…but she has no business being our Prez. Talk about under-qualified and lacking in knowledge and experience! Romney is an idiot at best. BTW, how’s he gonna dodge those questions about his socialist healthcare program?? LMAO