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. Raise the debt ceiling until the people can stabilize in this turbulent time, and then when the public is in a manageable position work on fixing it. Im a genius w a 4.0, a brilliant resume, and a desire to return to school, however us 30 and under who were born to families who lived check to check are in debt, and without help in an environment in which we can't complete our degrees or find substantial employment. Try living with a blue volar family for a year, and limit yourself to theirs.

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  2. We need Ron Paul as President, come on people Wake Up, Please!!!!!!!

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

  3. I agree with Barbara S. - Ron Paul has been in DC long enough that he is probably the only one who REALLY knows what's going on and he is obviously the only one who KNOWS what needs to be done! We keep voting on the "lesser of two evils" - well it's time to stop that idiocy!
    Ron Paul will do what he says he will do and I believe he is the only one who really can do that.
    Everyone says he is radical - well radical left wingers from both parties have been running this country for years and look at the total mess they have made!!!! It will take someone like Ron Paul - who isn't afraid to be somewhat radical in the other direction. That's what we need - BAD and SOON!!! He isn't even going to take his retirement and he is one of the few who have really earned it!!! The Republicans were given a majority in the house and they have still failed to do the job. Now we are going to raise the Debt 1.5 Trillion over 10 years and this gives us the opportunity to SPEND $900Billion MORE over the next year. Really!!!! I'm no math major but even I can see that those figures don't add up to DEBT REDUCTION!!!!!!!!!!!! I haven't given up on America but I sure have given up on DC to get ANYTHING right. I sure was hoping that the Republicans we voted in the last election would DO WHAT THEY PROMISED!!!

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    • Not sure where you get your numbers. They are raising the debt $2,400,000,000,000 for the next 18 months. By the time the Ron Paul is elected, they will have to vote on raising the debt ceiling to $20 trillion.

      Not sure where you see $1.5 trillion debt over 10 years. That's the deficit PER YEAR, or an additional $15 trillion over 10 years to the national debt (ie. We'll be looking at $30 trillion by 2020 or sooner)

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  4. The reporter said "I want to see a balanced budget plan on paper"
    Ron Paul said --easy, pay everybody the same that you paid them last year....write that down and it will be on paper for you....LOLOLOLOLOLOLOLOLOOLOLOOLOLOLOLOLOLOLOLOLOL

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  5. LADIES AND GENTLEMEN: I have the link to the schedule of the next GOP primary debate. Please check the link and spread the word.

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  6. Wasn't Rep Ron Paul in the top 10 recipients of $236 million in cash from Lawyers and law firms during the 2008 election cycle? I was buying in to RP's philosophy but after reading "Have You Seen My Country Lately" by Jerry Doyle, I'm more skeptical than ever about our whole American Legislative system. Legislators are not held to any standard when it comes to out and out lies.

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    • Not sure I get your point. He also gets the most contributions from active military personnel of any other republican (and possibly democrat) that i know of. That doesn't mean he supports the wars in Iraq, Afghanistan or Libya.

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  7. What's this. . a politician talking sense! Naah, must be a spoof video.

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  8. Paul is just a clueless as the rest of America. It's all a monetary illusion.

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  9. They just don't get it, no matter what cuts are made it only adds to the debt, because you are using the same pot of money for spending, the only sollution is to the debt with pay Gold.

    Oh wait the Fed sold it all & no one has any hmm ...

    Go Ron Paul :-)

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  10. TerminallyPsychotic

    Ron Paul has no idea about foreign policy. Romney's a fucking non-entity. OBAMA IS A LONG-LEGGED MACK DADDY!...I mean COME ON!...His momma was white trash, He was a crack addict and a homosexual. Leon Panetta made his birth certificate, his MUSLIM ARAB Kenyan tribe are slave traders, he's a Commie, Muslim, Arab slave trading, white trash, crack smoking, homosexual son of a white trash whore and he's a fucking LONG-LEGGED MACK DADDY!...I mean COME ON!

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  11. The media here in NZ has been closely following these development...but not honestly. They are lying, twisting scumbags. They have articles and news updates headed by "US President Obama seeks to save the US from disaster" or "President Obama saves the US by finally managing to raise the debt limit" or "extremist Republicans selfishly hold up the bill and refuse to cooperate and reason." Man I hate the media... Ron Paul for President! From a Liberty starved and Freedom strangled Kiwi.

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

  12. watch?v=3jcZIq9l1LE
    Ron Paul : The Preservation of Liberty
    Watch it, and pass it around.

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    Like or Dislike: Thumb up 7 Thumb down 0

  13. Banks can not refuse honoring government checks, its against the law.
    Government checks are Legal Tender, like federal reserve notes.
    WE don't need the fed, the Govt can simply print checks in place of money.
    In fact, I don't get why we don't circulate treasury bills instead of fed notes and ditch the fed entirely... o wait because the bankers want to enslave America by printing fake money... right almost forgot.

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  14. All I know is this isn't America, and since the 90's you can't convince me it is either ! As far as fraud goes, when was there never fraud ? Show me where you are free ? Show me how much you have saved in the last 5 years ?

    Oh, but I'm sure you can show me how much you're being enslaved !

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  15. Larry = Jew.
    We all know what this means.

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  16. I agree with Philip that america is in deep doodoo, if we don't have enough high ranking military officials left that still belive in america, then we are truely in deep deep doodoo! Whats amazing to me is how smart these people are helping the bankers accomplish there goal, yet none of them seem to understand that when the school yard bully takes your lunch money, you fight back.
    Or they will keep taking it! The other thing they don't seem to underdstand is that no one will be exempt from these people if they reach there goal, not them that are helping them or any one else. I beg our military to look at the bigger picture, no one not even them will ever be able to say no again, not them there children or grandchildren, no one!

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    • Please, learn to spell! You're making us look like a bunch of uneducated fools. We all make mistakes, but it's not too much to ask to know the difference between "there" and "their." It's "truly", not "truely." And "that" doesn't refer to people; it refers to things. It must be "officials WHO still believe."

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  17. Barbara J Struble

    Thank you, Ron Paul. God bless you, Ron Paul. Remove Boehner as Speaker and replace with Ron Paul. Then elect Ron Paul president. Let's all stand with Ron Paul to take back our country from the marxists (formerly Democrats - I know, I was a Democrat until Barry Hussein).

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    • Right on, Mrs. Struble! Boehner is a sell-out and has proven that he cannot be trusted to eliminate our deficit through spending cuts, let alone to restore individual freedom. Boehner must be defeated in the GOP primary next time.

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  18. Fantastic audios by RP. His message is about truth not about him. It is about true liberty, and the idea of liberty in every area, therefore it will grow and expand and cause a fire in the hearts of true lovers of freedom.
    I will take his message and start a revolution in Japan to wake up the people to what is happening here.. as they are following the same steps the US is.

    Let s start the revolution in all the world

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  19. We need much more in terms of spending cuts!!

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  20. America is in deep deep doodoo.. it is the blind ignorant people that have to wake the hell up take your country back before your government sinks the whole world into oblivian ..you want world war three ????? well your leaders are slowly but surely taking all of us there...

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