Ron Paul: It’s All a Fraud – Boehner’s “Cuts” Are Fictitious




Transcript

Larry Kudlow: Let’s go over to the House, which about 45 minutes ago passed Speaker Boehner’s debt plan. We’re now joined by Texas Republican Congressman and presidential hopeful, Ron Paul. As always, Mr. Paul, welcome back to the program. I read a piece in the Daily Caller today, you want to say no to businesses as usual, status quo and power and compromise to raise the debt ceiling. You are opposed to any debt ceiling increases. With all respect, isn’t that irresponsible? How can we operate without more borrowing?

Ron Paul: Of course, that’s why I want to stop the borrowing. I think it’s irresponsible to keep borrowing. If you have a debt problem, how do you solve the debt problem by raising the debt? See, that doesn’t make any sense to me, and it’s a spending problem and the Congress and the people don’t want us to really quit spending. Anytime you would have a token little cut, they yell and scream. So this crisis is going to evolve. I think everybody’s talking about default, but there’s not going to be any default in the sense that we’re not going to send the checks out and pay the interest; that’s not going to happen. Look at the bonds today, they did quite well, interest rates are going down, nobody’s worrying about it. But the default comes when we just print the money and pass it out, and the default comes because people are going to lose their purchasing power in the dollar, and that’s where the real problems come out.

Larry Kudlow: Well, I just want to circle back, though, because you got a 100 million checks being mailed, and yes, you could cover the interest on the debt, I fully agree with you, and the government bond market is trading very nicely off of the recessionary forecast, what, 2.75%. But what about the 100 million checks, that’s the position you’d be put in; Social Security, health care, veterans pensions, military troops fighting, the FBI. If you don’t raise the debt ceiling at all, you would reek havoc on the budget, havoc on the states, havoc on the cities. I just don’t see how you can take that position, Mr. Paul.

Ron Paul: Larry, you know something about runaway inflation, severe inflation. You remember the 1970s, I think you were in Washington at that time. Remember the dollar was under attack, we went hat in hand to the IMF and got 30 billion dollars 30 billion dollars, which is equivalent to 3000 billion dollars, to bail out our dollar. So we were on the rocks then and that was a bailout again and in a way it was a default during that year when we reneged on our promises to pay with the Bretton Woods Agreement.

So yes, I think it’s much worse to do what we’re doing, continue to spend, and usher in an age when all the checks bounce. And that is going to be much worse. You have to have priorities, and if Congress doesn’t give the President priorities on how to pay the bills, the President, I believe, has the prerogative of picking and choosing and spending the money as it comes in and face up to the fact that we are bankrupt. To deny that we’re not bankrupt is a big problem and will usher in this age of just endless spending and endless debt. You cannot solve the problem of debt by accumulating more debt. You would never tell an individual that’s way over their head with credit card debt, “Oh, what you need is more debt, and you’re going to be happy”. A country can’t do it either.

Larry Kudlow: Alright, let me ask you this, Congressman. In your campaign will you actually put out a blueprint plan for a balanced budget in 10 years? Because I know the Balanced Budget Amendment is in the new House plan, I understand that. But the odd thing to me, as a former budget official is, I have never seen anybody put on paper a plan that gets us to zero on the deficit in 10 years. Will you have such a plan on your campaign trail?

Ron Paul: Well, I can make it very simple; let’s just freeze the budget, give everybody this year what they got last year, and it would finally balance, probably in less time than that. So that would be a pretty good blueprint, and why should anybody scream? Do you know, Larry, even under the Boehner plan the spending is going up over a trillion dollars. So all these cuts are fictitious, they’re only cut in the CBO projected increases. So it’s all a fraud. We know this is all political gamesmanship. This bill has nothing to do with solving the problems.

Larry Kudlow: I agree with you, sir.

Ron Paul: Okay, good.

Larry Kudlow: But a balanced budget plan, I want to see one on paper. Anyway, Congressman Paul, we’re out of time. But I appreciate your time very much this evening. Good luck on the campaign.

Ron Paul: Alright.

Larry Kudlow: As we continue our live coverage of the House vote on the Boehner bill, coming up…



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257 Comments:

  1. endless debt. endless war. do your kids a favor and dont give birth t them in the first place. or dont register them

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  2. This guy is so great. We need some mini ron pauls that are on the way up to continue to his message and change the country back to the constitution in the way it way intended.

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  3. a shame RP is fugly.... ameritards usually vote for shiny pretty candidates....

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  4. The media has the responsibility to tell the public the truth about what Washington has done, but they won't. The primary reason is that it will hurt Democrats more than Republicans. The Republicans war machine is not without fault, but the Democrats simply love spending more than most Republicans.

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  5. There might be a lot of people on here who support Ron Paul, but we represent a very small minority of the US population. All the lemming idiots out there are going to vote for one of the two media-chosen puppets.

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  6. Ron Paul: the only intelligent person in Washington.

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  7. The GOP is getting EXACTLY what they voted for back in Nov 2010. A group of KKK members and supporters that traded in their white sheets/ hoods for business suits and nice hair cuts & sent them to the Repub Congress as the “Tea Party”. The TP war against Obama has begun and the first Tea Party "win" is damage to The Full Faith & Credit of the US Govnt. The TP Repubs would see our country crash and burn before they compromise with the President and do what is BEST for our country. SHAMEFUL!

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  8. Wasn't there just a top rated video on youtube about the fact that nobody in the Obama administration has a budget plan or has had one for his entire presidency? And then this choad Kudlow is all on my man RP's nuts about proposing a balanced budget plan... Its called END THE FED bitch, he proposed it 20 years ago

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  9. what does RP mean when he say just freeze the budget and give everyone the same that they had last year? Does he mean at fixed inflationary rates? Do the payments increase every year in the US to cover inflation? Some one explain please as I don't know about economics much.

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  10. And you know why they don't wanna legalize drugs, because it is 400 billions business. And you know who controls CIA? Zionist Jews. NOW, I am waiting more from you. I thinks this time you already can call me racist, oh yes Hitler lover, anti semite.

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  11. sounds like your enemy is ANTIDEPRESSANTS (Psychiatry and Big Pharma). That is another reason to Vote for Ron Paul. Ron Paul is the only candidate that openly speaks against the Drugging of America by Big Pharma.

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  12. Dodgers vs. Congress
    The Dodgers (Frank McCourt's) and Congress (US) have lived way above their means.If Congress raises the debt limit shouldn't Major League Baseball allow the Dodgers raise their debt limit? Then, according to Congress, all the Dodgers have to do is raise ticket prices to fund their lifestyle? it that's how it works! More people will go to the games? Right?

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  13. Ron Paul for Prez!!!!!!!!!!!!!!!!!!!!!!!!!! kick there realialty ass!! my vote is for Mr. Ron Paul please put signs out in my yard please. WAKE UP PEOPLE YOUR FREEDOM IS BEEN TAKING AWAY PLEASE

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  14. None of this debt problem is going to be fixed ever. We will be enslaved till we all die and the globalist elite made sure of that. Those who say you need to adapt is right, but to say and do nothing, then you are allowing the globalist elite get away with robbing you blind. Like allowing a race track to be built in your city and the tax payers have to pay for it, then the man who robbed the tax payers for the race track gives his daughter 100mil $ home, is stealing....

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  15. This is funny but also gives a pretty good picture of the screwy way, we as nations deal with money. It highlights how ridiculous their logic is when it comes to debt etc.

    http://www.youtube.com/watch?v=dVwA_Y4KBqY&feature=related

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  16. Ron Paul 2012

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  17. While I don't agree with Ron Paul on everything (nobody's going to agree 100%) I do believe he is right on as far as monetary policy goes. Our founders adopted a coin money standard in the Constitution as a means of self-restraint, to keep the government from doing what it's doing now. They were well aware of the dangers of having paper fiat money for currency. They learned this from the use of colonial scrip during the revelution, hence the term "not worth a Continental." We have had fiat currency for nearly 100 years now, and what the founders warned us about has come to pass. While Ron Paul is not a savior (no man is, only Jesus Christ can make that claim) having more people like him elected to office is a step in the right direction, and then maybe we can get back on the road of sound currency and fiscal sanity.

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    Highly rated. What do you think? Thumb up 11 Thumb down 0

  18. 3 dislikes-Obama/Giethner/Bernanke aka scumbags

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  19. Look I make 48,000 as a book keeper, but I only take 34,000, where did all that 14,000 go and then I have to pay taxes for everything, it just makes me mad. I don't mind paying taxes but I worked really hard and it just feels like I am being punished by constally being bombarded with taxes and being forced for other government programs and ect

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  20. When will the conversation get focused on financial aid to all the foreign countries. All financial aid to foreign countries needs to stop until THIS COUNTRY IS OUT OF DEBT !!!!! Get to it Ron ,,,you are an inspiration!!!

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    Highly rated. What do you think? Thumb up 10 Thumb down 0

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