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.

  • PazGuerro

    Anyone else find this interviewer arrogant?

  • shotsky94


    • Jimbo

      I can’t help but be interested in hearing some reasons for your support for obama. I have personally found that i cannot trust a damn word he says and feel as though he is not a great man to stand up for “hope” and “change” but merely a puppet who’s being used as a salesman to sell congress and the American public. If you are willing to support evidence of why obama would help our country please do share because all I can think of is the many many lies he told the American public when he was running and then at times ultimately did the exact opposite when gained presidency. He is abusing his powers, manipulating and bullying congress, sending young innocent men and women all over the world into perpetual wars without congressional acceptance. Rather quickly taking away and continuing Bush’s policies that take away civil liberties to the American people, telling Israel to reestablish borders?? I mean the list goes on and if you would like I can continue, however, I seem to think you don’t really know why you support obama and feel like you need to come on this page and disrespect DR. RON PAUL. I think you are not informed, educated, or care to be and personally I feel, that if my assumption is correct, its the people like you that are ruining our country.


      • John-William

        Who are you referring to?

  • John-William

    The debt ceiling will continue to rise as long as currency is still usable to us as an offer in exchange for items of value. The currency we pass on to other suckers is worthless, it has no value. It is a “tender” (or offer), a note for an exchange of some sort. When we use it and someone accepts the offer, we put some trust in it that someone else will also take it in exchange for something of value, but that is never guarenteed. The currency bubble will eventually explode, since congress will inflate it by printing more until it has no value. This will usher in a forced return to some sort to a value backed money (gold or silver standard) at the expense of the American people that are still holding the worthless dollar as a reserve currency. Better get rid of your worthless dollar trade paper while there are still dumb people out there willing to give you something of value for it.

  • coolbuddykermit

    obama has watched this 4 times

  • coolbuddykermit

    obama has watched this vid 4 times

  • mxer330

    It’s funny how the mainstream media grasps at straws to make Ron look bad…. FYI MSM it won’t work… Ron will win Iowa and thats what really matters… If you win Iowa you win the presidency, period end of story….

  • pachuansam

    if those are the options , a MORMOM cultist, a GIRL, and NEWT. Ron Paul has already won. ( “WIN” ? is that the right word ?)

  • timberwolves100

    “What’s wrong with raising the debt ceiling for a little while” AHAHAHA………..

    There isn’t enough characters allowed on YouTube to explain this!

  • voiceofreason2u

    Ron Paul is the only man worthy of the presidency in 2012.

  • jorintelis

    sara palin is getting more support than ron paul :DDD what the fuck america

    • Jim

      I think Ron is probably actually winning in the polls, but they play with the data and do sneaky things like adding options for someone who isn’t even running as a possible choice.

  • burtgjones

    Go Ron Go!

  • Gradstud25

    Is there something diabolical in the media that makes them hate anyone who’s honest and tries to tell the truth about things?

    Or is this just human nature when you’re accustomed to working with liars so much, who are so easy to the ears, and then you have to interview someone who’s so honest—-it’s painful to hear and hard to accept?

    Ron Paul’s knows ho bad things really are. And more people are starting to see it for themselves and realize that he’s right on target. I hope more get on board and have the courage to be honest with themselves about our country.

    That’s why people either love him or hate him. The lovers realize what’s happened, have courage, hope and want to make the most of things. The haters want to live in fantasy world and pretend everything’s not so bad.
    If you’re a coward, do the rest of us a favor and please don’t bother voting in 12′.

  • dyec5

    Looks like the corporate run media is getting scared, lol

  • stfatpat

    And this is why fox sux.

  • RoflmaoAtSheepeople

    CNN is gone What is CNN they went down the craper years ago! Now they just pass
    the Fascist news. But Fox their on the way to the craper fast becomeing just a nother
    fascist station one of many. Ron Paul 2012 RON PAUL 2012 RON PAUL 2012
    Saying the same thing foe 30 years you what all the bull to end RON PAUL for PRESIDENT

  • SickBang

    Sarah Palin 15%…Ron Paul 10%…whaaaaaaaaaaaat?

  • urbanboy2008

    ron paul we respect you from the UK, ron paul he got lots of fun here in uk even though it doesn’t conser us

  • RadioImageProd

    Im looking for friends and subscribers to my youtube site. Please add me, thanks guys!

  • SpraxIAKS

    This anchor is ugly.

  • snaz27

    vulnerabledonkey… Yeah you’re right, i’m english and i’m watching this election with great interest! America you have the chance to show the world a new way! Come on you have tried every other way! Which in reality was the same way everytime! Lol… Give this guy a chance! I’ve never voted, but i’d give this guy my vote in a heartbeat! Do the right thing america!