Ron Paul: Let’s Admit It, the Country Is Bankrupt!

Transcript

Mitch McConnell: Senate Democrats are playing with fire here. And it’s hard to conclude that they’re doing it for any other reason than politics. So, I would urge our friends on the other side of the aisle this morning to re-think their position and join the Republicans in preventing default.

Alisyn Camerota: That was Senator Mitch McConnell, just speaking on the Senate floor. And Senate Majority Leader Harry Reid, also just speaking, saying that he’s willing to listen to Republicans’ ideas and is urging them to compromise. Let’s find out what Texas Congressman Ron Paul has to say about all this. He is a 2012 Republican presidential candidate. Good morning, Congressman.

Ron Paul: Good morning.

Alisyn Camerota: I want to start with the Boehner bill. The Boehner bill will cut $917 billion from the deficit over the next decade. Will you vote for it today?

Ron Paul: No, I won’t. Because those cuts aren’t real. It says that we’re going to cut a trillion dollars out of next year’s budget. But that’s from the CBO baseline. So, actually, there are no cuts. So, I couldn’t vote for that. And I’m not going to vote to raise the debt limit, and I think that to pretend that the balanced budget amendment is going to solve our problems. And I don’t like that Super Congress. So I’m an easy ‘no’ on this. But –

Alisyn Camerota: So, Congressman, let me just ask you: you would rather default than raise the debt ceiling.

Ron Paul: No. You don’t have to default. Right now, we’re $200 billion over the debt limit and they have found ways to make those payments. But, no, default is coming. The only argument that’s going on now is how to default. Not send the checks out, or just print the money. And all countries our size will always print the money. So, this debt – the bills will be paid. And this is just an argument –

Alisyn Camerota: But, just so I understand, in order to pay Social Security, Medicare, unemployment benefits, you would just print more money?

Ron Paul: No. I’m arguing that that’s what they’re going to end up doing if they don’t just stop the spending. Why don’t we – right now, what Boehner is proposing is going to be $1 trillion next year than it was last year. So, why don’t we just freeze everything? Everybody get what they got last year. Why shouldn’t they be happy? We’re in a crisis. But then, they’re not going to do that. They’re going to raise the debt limit. And then they’re going to print the money. And then they’ll default by inflation. And that’s much more dangerous than facing up to the facts of what’s happening today.

And the market will determine – right now, the market’s not all that skittish. Interest rates are low, people are still buying dollars. But the prediction of the dollar really going down and defaulting is the fact that gold prices have been so high. And it’s been devalued 50 percent in these last three years. That’s the telltale sign of what will happen to this economy.

Alisyn Camerota: Mr. Boehner, as you know, needs 217 House votes to pass this bill today. He can only lose 23 Republicans. So, yesterday he issued a blunt warning to those of you who are going to say ‘no’ to basically get your rear in gear. He said it a little differently while on Laura Ingraham’s radio show yesterday. Let’s hear an excerpt from that.

Laura Ingraham: Mr. Speaker, I want to ask you: is it true that you told some of the Republican members this morning that you need to get your a-word in line behind this debt ceiling bill?

John Boehner: I sure did. Listen, this is the time to do what is doable.

Alisyn Camerota: So, there you hear your speaker saying: “It’s time to do what is doable”. Would you be willing to just take one for the team, even though you’re philosophically opposed?

Ron Paul: Why should I make conditions worse if I’m convinced the conditions will be much worse if you don’t face up to the bankruptcy? The bankruptcy is here. It’s just a matter of how we’re going to pay for it. And I think that just adding more debt and permitting the Congress to continue to spend is much worse than defaulting by printing money. Therefore, I would say the best option right now that the American people could understand and say: nobody gets cut anything. Let’s just give everybody what they got last year. And, actually, that cuts a trillion dollars out of the proposed budget increases. And that, to me, seems to be pretty logical. And you’ve solved your problem.

And the president has every right to pay the bills as they come in. He doesn’t have to default on anything. He might have to delay some. He’s not going to delay payments on the bond market, and he’s not going to delay the military. He’s not going to delay Social Security. And, if we could send the strong signal that we’re going to get our house in order, believe me, the confidence would come back again and we wouldn’t have this battle.

This is all posturing. And Boehner has a tough job. I don’t know how he is going to pull it off. But what is he up against? He is up against the Democrats and the Senate and the President demagoguing it and not even giving his a chance. So, I think both sides are failing to understand that the country is bankrupt. There will be a default. The only debate that is going on is how you default. And I vote for stopping the spending so that we don’t have to print all the money.

Alisyn Camerota: All right. Well, Congressman Ron Paul, you are on the record as saying you will not vote for the Boehner bill today. We appreciate you coming in and sharing that with us.

Ron Paul: Thank you.

  • CazyDayz

    im not a republican but i will vote for Ron Paul.

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  • qwezzie

    america has been bankrupt for over 70 years!!! what american does not know this.

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  • ctfam

    My Hero.

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  • Dogeatsdogs

    That woman is exactly why Ron Paul will not be elected. Too many brainwashed dolts like her walking around with a vote.

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  • tallswede80

    conversation:
    Q: Are you going to vote for it?
    A: No.
    Q: Are you sure?
    A: Yes
    Q: Are you really really sure?
    A: Yes.
    Conclusion: Okay, so let the record show, blah blah.

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  • linagee

    That woman on the left side of the screen is so annoying! ARgh…

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  • websuspect

    its pronounced boner.

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  • exaurius

    That woman is so stupid. You should need to take common sense 101 before being able to vote in this country.

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  • lb8825

    Hahaha this bitch is soo stupid, she can’t even understand the words coming out of his mouth! Ron Paul 2012!

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  • m00se321

    Garaunteed!!!!!!Obama will Raise the DEBT!!!!

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  • PurpleHoneyBear

    Mitch McConnel has contempt for the public, just like the Democrats. He too is holding the American people hostage by “playing politics” against the Democrats. It’s like watching two 4 year old’s fight in a sandbox.

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  • megamaniac76

    NO DEBT LIMIT INCREASE!

    NO TAX INCREASES!

    SPENDING CUTS ONLY!

    NO COMPROMISE!

    Like or Dislike: Thumb up 1 Thumb down 0

  • kev492001

    These news casters are so dumb!! She isn’t even trying to use her brain, just falling in line with what everyone else is saying, not thinking things through…. And the guy said “Oh its up I don’t think its been down all day”..It was down 135 points around 10 to 11 am!!!! I hope to God they stop spending and do what’s right, tea party Loyalist (not calling them Republicans since they are Democrats using another name). Mitch and Boehner and McCain can cry all they want, there time is coming!

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  • Macaframa1

    empty space between this bimbo’s ears… she really thinks ron paul wants to print lots of money and cause inflation… buahahaha

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  • dustinseth1

    Haha. Everything Ron said just went in one ear and out the other with this woman. Is she forced to stick to a script or is she just an idiot?

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  • 5T4RSCREAM144

    Well.. we know Ron Paul will be president now.. :) Especially since he admits to something that is not true… we are NOT REALLY BANKRUPT folks… it is the banks and corporations playing you like a guitar!!! Wake Up!

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  • will032167

    She is hot as shit and dumb as a box of rocks…

    A great combination for a one-night-stand… but not so good as a news commentator.

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  • davenetdog

    American and the World Economy is sick. It needs a Doctor badly. Hey wait! This guy over here, Ron Paul, he’s a doctor! And you know he has the solution.

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  • jshalom65

    This is the STATESMAN that should have been in 2008,and should be in 2012,the republican nominee for president.Only Ron and Dennis Kucinich are openly and directly challenging the legitimacy and the outright criminality of The Fed.One thing’s for certain: this nation cannot stand another term of “Change You Can Be Deceived In”.

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  • SkullOfYorick

    John Boehner is a twat, and the bimbo is the one who should “take one for the team”.

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