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


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.


  • PatricksTime

    america needs to wake up and vote ron paul as our next president!!!

  • dan2avp1

    True cuts are spending less than you spent the previous year. Thats why Ron suggested freezing spending and not do the automatic 7%. That still wouldn’t be a true cut from previous spending but it would be way more than all the current proposals. Rand suggested with Rep Connie Mack to freeze current spending and decrease spending 1% each year for 6 to 8 years to balance ther budget. That means freezing spending at current levels 3.8T then reduce it from there each year. Totally doable.

  • dan2avp1

    Most people don’t get that spending AUTOMATICALLY goes up 7% each year vs the previous year. They propose cuts from that automatic increase and call it a cut. It only cuts a small % of the automatic increase and doesn’t touch the amount of money spent the previous year. So if they cut 2% from the automatic 7% increase you still have a net increase of 5%. If you spend 3.8T this year and it is scheduled to automatically go up to 4.1T this year but you cut it to 4.0T it’s still more than before.

  • gotitans999

    I don’t get it. Unfortunately Ron Paul has only 8% of Republican vote right now, but he always gets huge support on youtube. Maybe just people online are smarter and don’t listen to what the MSM tells you, like oh, Mitt Romney, of course he’s going to be the front runner, and then the masses listen and automatically assume he’s their candidate. This reminds me of the story I saw yesterday that found out people who use IE are dumber than users of Firefox, Chrome, Safari, & Opera. Old farts…

  • tahboobi

    Answer #1: No
    Answer #2: No
    Answer #:3 No

    Fox News are LYING to you.

  • Dymndcut

    Copy and paste “Sonnet 2: “Fight” (Pure Carbon Collection)” into search bar!

  • choclatdrop16

    This idiot broad is talking over him, and I’m trying to hear him. Bitch! shut up!

  • choclatdrop16

    I just do not believe he is much different. **shrugs** sorry.

    • Libertarian777

      Because his past 25 year voting record in congress show’s he’s one of ‘them’?

      Look up his record. He was the one they called Dr No for many years. Some other congressman now has that title ‘unfortunately’.

      Ron Paul is one of the few who voted against TARP, patriot act, Iraq war, etc. He’s the only one who submitted legislation to get TSA out from molesting you at airports.

      Tell me again how he’s ‘the same’?

  • ItachiUchiha004

    this guy is pure badass…

  • tiatdivad

    C’mon America, wake up take your country back from the criminal bankers and please vote Ron Paul2012.

  • ron shut that bitch up quick good one

  • ron shut that bitch up quick good one

  • slipnsldnaway

    ron shut that bitch up quick good one

  • iCallofDirty

    What a dumb broad. End of story,

  • KnightoftheRepublic9

    I’m for liberty.
    I’m for fiscal responsibility.
    I’m for Ron Paul!

  • zaleenaabdullah

    why does the interviewer sounds stupid? oh…she’s from fox news..right….okay. that’s understandable.
    ron paul rocks.

  • MrGazrp

    This is like watching a genius being interviewed by a 1st grader.

  • SkitchThat

    US Government, 71 Billion Dollars on Hand.

    Apple Inc., 76 Billion Dollars on Hand.

    Apple should buy the United States government. United States of Apple!

  • hijackednation

    Thumbs Up if you think Job outsourcing and imports play a major role in our debt. If most the crap you bought in Wal Mart and etc was made in the USA and there were a Tariff on imports where would our debt be? You offshore jobs and import products 50 million + on Food stamps .. Hmmm Go figure.. The real issue is being sidestepped (FREE TRADE IS KILLING US)

  • qortin

    Ron Paul will not be elected simply because the sheeplings are just too dumb to understand him