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.



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400 Comments:

  1. Sadly, Ron Paul predicted all this years ago, he is one of the few that is trying to go strainght and do the best for the people.

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  2. Ron Paul R[̲̅ə̲̅٨̲̅٥̲̅٦̲̅]ution 2012
    Я☼N PΔUL ЯΞ√ΩLUT↑☼N

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  3. I hope Dr. Paul leaves the Corrupt Republican Party and runs as an independent in 2012. Vote Independent in 2012!

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  4. why is everyone pronouncing the guys name as "bay-ner" ... I thought it was "bow-ner" that would be much more interesting ;)

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  5. why is everyone pronouncing the guys name as "bay-ner" ... I thought it was "bow-ner" that would be much more interesting ;)

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  6. Unfortunately, I have little faith that the average American knows what he is talking about. Try this simple math to see if you understand.
    (5 + 3) -1 = X
    Now "5" is what we spend now, "3" is estimated increase and "-1" is the bill's "cuts". Now, is X lower than "5"?
    THEN IT'S NOT A F'N CUT!!!

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  7. Unfortunately, I have little faith that the average American knows what he is talking about. Try this simple math to see if you understand.
    (5 + 3) -1 = X
    Now "5" is what we spend now, "3" is estimated increase and "-1" is the bill's "cuts". Now, is X lower than "5"?
    THEN IT'S NOT A F'N CUT!!!

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    Like or Dislike: Thumb up 0 Thumb down 0

  8. Unfortunately, I have little faith that the average American knows what he is talking about. Try this simple math to see if you understand.
    (5 + 3) -1 = X
    Now “5” is what we spend now, “3” is estimated increase and “-1” is the bill’s “cuts”. Now, is X lower than “5”?
    THEN IT’S NOT A F’N CUT!!!

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  9. she is an air head!!

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  10. Yeah, it was painfully obvious that she lacked elementary economic understanding, and the things she was saying suggested that she didn't even know who the hell she was interviewing.

    "...so you would just print more money?" Really? REALLY? You're going to ask RON FUCKING PAUL that? If you knew ANYTHING about politics, you would realize how stupid that is.

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  11. Lets get 2 more credit cards and use the minimum loan on each one to pay the interest on the first 14 credit cards that have already been "Issued". Oh yeah, they are ONE F'in TRILLION dollars per credit card. Like just how many people in government really understand just how much money that really is...

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  12. Great job Fox! You make RP look like a financial genius when you match him up with this blond. There's got to be at least a 100 point IQ discrepancy there.

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  13. What is the next level of Broke? Seems that everyone is looking for that other level?

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  14. no more war money for special interest squatters!!!

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  15. This chick has no clue. haha I think she blinks every time Ron makes her look like an idiot.

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  16. - Let me frame this..
    - No, I'd rather talk real issue
    - So within this frame...
    - Real issue
    - Oh, ok, you're on the record.

    Go RP!

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  17. What is defaulting mean whats going to happen if we do?

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  18. That chick is not very good at putting words in Dr. Paul's mouth. She also seems to have a basic monetary comprehension problem. One of the many reasons not to watch TV. Dr. Paul, your time is better spent on that brain dead bimbo.

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  19. v=hX5Lwecv7bQ

    AUGUST 3RD MONEY BOMB FOR RON PAUL'S 2012 CAMPAIGN - FOLLOWED BY A WEEK LONG "PUSH" FUNDRAISER!! The campaign recently sent out a letter asking supporters to help them raise more needed funds in preparation for Ames on August 13th. Please SPREAD this information and remember to donate on August 2nd!!!!!!!

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  20. watch?v=3jcZIq9l1LE
    Ron Paul : The Preservation of Liberty
    Please watch, rate, favorite, comment, and share.
    :)

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