Ron Paul Rejects Debt Ceiling Deal as “Smoke and Mirrors”




Today, 2012 Republican presidential candidate Ron Paul issued a statement outlining his opposition to the debt ceiling deal struck between the White House and Congress. See statement below.

Ron Paul: “While it is good to see serious debate about our debt crisis, I cannot support the reported deal on raising the nation’s debt ceiling. I have never voted to raise the debt ceiling, and I never will.

This deal will reportedly cut spending by only slightly over $900 billion over 10 years. But we will have a $1.6 trillion deficit after this year alone, meaning those meager cuts will do nothing to solve our unsustainable spending problem. In fact, this bill will never balance the budget. Instead, it will add untold trillions of dollars to our deficit. This also assumes the cuts are real cuts and not the same old Washington smoke and mirrors game of spending less than originally projected so you can claim the difference as a ‘cut.’

The plan also calls for the formation of a deficit commission, which will accomplish nothing outside of providing Congress and the White House with another way to abdicate responsibility. In my many years of public service, there have been commissions on everything from Social Security to energy policy, yet not one solution has been produced out of these commissions.

By denying members the ability to offer amendments and only allowing an up-or-down vote that will take place in the hectic time between Thanksgiving and Christmas, this Commission essentially disenfranchises the vast majority of members from meaningfully participating in the debate over reducing spending and balancing the budget. Furthermore, despite the claims of the bill’s proponents, there is nothing to stop the commission from recommending tax increases.

One of the reasons why I humbly suggest that I am the most qualified Presidential candidate is my experience to see and understand the long track record of failure, disappointments, and bad recommendations made by such commissions. Times like these require statesmanship and steady leadership, which I and the grassroots activists who have joined my campaign believe I am uniquely qualified to provide.

What should bother Americans most is that under cover of this debt ceiling circus, we learned from a recent GAO one-time, limited audit that the Federal Reserve secretly pumped $16 trillion into American and foreign banks over three years. All of the Fed’s fat cat cronies were taken care of at the expense of the American public.

To put that into perspective, our entire national debt is $14.5 trillion, and our annual deficit will be about $1.6 trillion, meaning the Federal Reserve created and appropriated more than our entire national debt to banks around the world in a few short years. We have been fighting in Congress these past few weeks over raising our debt ceiling by $2 trillion, an amount the Fed secretly gave away to just one big bank.

For decades, politicians have promised future restraint in exchange for hikes in the debt limit. We are always told that we must act immediately to avoid a crisis. But time and time again, politicians reveal themselves to be untrustworthy, and we soon find ourselves in a crisis being led by the same folks who wish only to maintain the status quo.

I believe in the great American traditions of free markets, sound money, and personal Liberty. But we are moving far away from what made us the greatest nation in human history. We must cut spending and balance our budget now, before it is too late.

Let me be clear. The cuts we must make will not be easy, and there will be difficult times in the short run. But I have the greatest confidence that if we come together as a People, work hard, and do the right things, our country will be back on track in no time and on its way to unprecedented prosperity. But, if we continue to print money and pyramid debt, we will destroy ourselves and lose the promise of America forever.

These difficult times require a President willing to stand against runaway spending. If elected, I will veto any spending bill that contributes to an unbalanced budget, and I will balance the budget in the first year of my term. I will not allow the Federal Reserve to destroy the value of our money by shoveling dollars into the pockets of its banker friends.

I remain committed to working on behalf of the American people to drastically reduce spending and implement fundamental changes that will reform government and restore our nation’s prosperity.”

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19 Comments:

  1. BSOLUTELY MUST WATCH AND HEAR EACH SENTENCE HE UTTERS — STUNNING, in less than 60 min Ron Paul LAYS THE PATH to our Nation’s Salvation, that in decades no-one else had been able to state!

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  2. very nice post, i certainly love this website, keep on it

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  3. i believe Martin Luthur King won his purpose because of his Principles i hope Ron Pauls will do the same for our country

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  4. i believe it was Martin Luthur King who won his purpose because of his principles i hope Ron Pauls will do the same for our country .

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  5. Please don't say "LET ME BE CLEAR..." ever again, Ron!!!

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  6. Are there any Ron Paul supporters that live in Santa Clarita or close by that would be interested in meeting other like minded men and women,to support Ron Paul and the ideas of limited Government?If so I would be interested in chatting with you.Please no weirdos or anyone with ideas that are NOT peaceful.
    Anthonyscv@yahoo.com

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  7. the Federal Reserve magicshow are they going to pull another trillion bucks out of thin air ?

    Go Ron Paul :-)

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  8. I prefer when you don't sound like you are campaigning or proselytizing.
    Your arguments are sound enough.
    Keep hammering all these politicians on their hypocrisy regarding militaristic waste and support of corporate hegemony over the small businessman.
    Our current government (GOP and D) would cut the pensions and security of people who are contractually owed such, in favor of corporate welfare.
    Make this case to the left and right, run as an independent, if need be; and give the American populace something to go to the polls for.

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    Like or Dislike: Thumb up 6 Thumb down 0

  9. Stephen W Thompon

    Congressman Paul, First, thank you sir for risking your neck by standing up and saying what so needs to be heard and enacted. That said, I have to offer some criticism... 1) No one in Congress needed to do this. THEY put the President in a corner that NEVER needed be done. THEY put the country through hell ! 2) I hear NO ONE stating what really needs to be done -- STOP putting the burden of the taxes on the middle class and not doing what is right, which is to raise the taxes of the wealthy! This just is moving us further toward a class system in OUR country, sir! 3) Our monetary system is pure evil. The so called "FEDERAL Reserve is out of control and our country is headed to a disaster on many levels because of these things.

    All that said, I honestly support you and believe in you. I see you as a leader and I would vote for you in 2012 for President. However, I would fear for your well being or even your life given the powers you seek to rid us of or at least bring into reform. I hope you would consider my objections. I support you and I hope you can have a positive impact on our political and economic system!

    Respectfully,
    SWT

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    • It is unconstitutional sir to raise taxes on the wealthy. I agree with removing the loopholes in the tax code so that corporations do not escape taxes like GE for example. I however disagree with taxing a household more simply b/c they make more money. Even though your intentions are good, you have still fallen victim to the liberal "class war" rhetoric.

      If household 1 makes 100,000$ in 2012 and they pay approx 25,000$ in taxes; then household 2 makes 1,000,000$ that same tax year at the same rate they pay approximately 250,000$. That is a significant portion of their income and a much greater payment to the country.

      My personal opinion, we shouldn't pay income tax at all. Federal income tax is unconstitutional itself and until the the constitution was amended was never intended to happen. I had a post a few days ago explaining this. But I will close in short by adding the IRS needs to be shut down. We should seperate ourselves from the IMF and ITC and move to Ron Paul's idea for taxes.

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      • well said. I agree completely. End the Fed & the IRS. Also, I would like to add let's push to reinstate Glass Steagall. This bill was originally introduced in the early 30's to regulate the financial industry by separating legitimate commercial banking from casino-style investment banking so that the mega international investment banks cannot have any claim of any US assets if their investments go under.

        A lot of the $14.5 trillion in US debt is due to the banker bailouts of GW Bush & Obama. Why should the American people or businessses have to foot the bill for their shenanigans. Reinstate Glass Steagall and give Wall Street back their debt. If they can't pay it, tough.

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        • Trenton Boatner, Shameer Mulji, are true States Man.

          I found trough my current employment that the values of land have two sides; one that represents the local government’s ability to govern it and one that represents the capitalist desirer to develop it.

          These two concepts are a pure seed of development and the US Constitution Provided US with a way to take an honest advantage of it!

          All we need is ‘Proper Constitutional Monetary Policy ‘to perfect this. Then the economy of the people will expand naturally with sustainability as a creative evolutionary process.

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  10. Ron Paul you are the most inspirational political figure. Absolute LEGEND!!! RON PAUL 2012!

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    Highly rated. What do you think? Thumb up 13 Thumb down 0

  11. I am a canadian who follows a little bit of american politics. My buisness is directly related to the american economy as is the rest of the world. Why was this debt ceiling made such an issue so late. Shouldnt it have been debated months before the deadline instead of throwing it in your face and saying hurry up give us 2 trillion dollars or were gonna default? Sounds like a scam! Also listen to jfk's controversial speech that supposedly got him killed, I think he tried telling us something hmm... And lots of respect to Ron Paul for putting real facts out there and risking his neck for the greater good. I hope people stop believing everything they read/hear on tv and think for themselves for a change.

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    Highly rated. What do you think? Thumb up 21 Thumb down 0

  12. Conspiracy-A secret agreement between two or more people to perform an unlawful act.
    That is the definition of the word.I dont know why MOST people use it as a negative.Im sorry my fellow country men..But it is damn near impossible to believe all of our Nations problems are and have been done without malice.So under those conditions,A conspiracy between the Federal Reserve and our elected officials is TRUE and counter productive to deny!!!!
    And those that deny,there are not secret pacts,ARE PART OF THE PROBLEM!!!
    RON PAUL 2012!!!!

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  13. The fact that the House voted first on raising the debt ceiling indicates to me that all of the Republicans who voted yes had secretly wanted to vote yes all along to continue spending as usual. I am so disappointed. I do however commend the 50 some odd representatives who voted no. So much for a filibuster in the Senate. Anyone who tries to filibuster now will get ground up for cannon fodder by both parties. When will the Republicans beat the Democrats at their own game? The fiscal conservatives had the leverage, but it seems as though their seasoned leaders led them into every trap that the opposition laid out. Mitch McConnell had to see this coming. This result is considered a Tea Party victory by some. The only good thing that has come out of this debt ceiling vote, is that we now with absolute certainty who to vote out of office. I am proud of you Ron Paul

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  14. Rev. J. R. Mesick

    ...and, "God doesn't make the world this way...We do..."

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  15. Rev. J. R. Mesick

    Shameer Mulji...really? Do you really buy into the belief that any "GOD" would even care who wins episodic human popularity contests? Why invoke the name if He never votes?
    Also, your fictional delusions of a supposed plot to bring down the U.S. by means of a covert sleeper agent bent on liberals or apes taking over...you put a bit of the dramatic into that illustration...and Britain of all places...lol
    Well, I guess if we aren't going to have to learn to say Nin hao, ma...the Queen's attempt at English may be easier for you to assimalate...
    Stand up for who you believe in, by all means, but please leave the conspiracy theories and propaganda in Palin's purse, ok?
    Ron, you have my vote, no matter that you aren't the Jack Bower or Christ.

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  16. If there is a GOD out there somewhere in this universe, I hope you truly do get elected. If Obama gets re-elected, his legacy will be the wholesale destruction of the Constitution and of this nation.

    Ever since 1776 the British have been vying for control of this nation. Obama has been their perfect Manchurian candidate to make that happen but that's assuming he gets re-elected.

    That is why the 2012 elections will be the most important ever for America.

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