Ron Paul: Washington Will Keep Spending until there’s a True Economic Crisis


Neil Cavuto: With the threat rising almost as fast as the deficit itself: two guys in Boston accused of bombing the marathon, two guys in Canada accused of trying to bomb a train headed for New York, so those are two huge issues. The government is nearly 17 trillion dollars into collective debt hole, and there’s a new push to spend more to protect us despite that hole. So how do we deal with that? Former Texas Congressman and presidential candidate Ron Paul is on the phone. Congressman, they’re already saying we need to spend more to stop this, what do you say?

Ron Paul: Oh, keep doing it, bring it on, until we have to force ourselves into reality. It’s tragic, because we’re addicted. It is like a drug addiction, you can’t get off drugs, and the economy can’t get off spending. Just look at what they’re doing at the airports now with the pretending, they’re making little cuts, and then they emphasis it and amplify it by playing politics with it. So they’ll never cut spending, the Fed is there to monetize the debt, we’re going to continue to do this until there is a true economic crisis. So I don’t think what we had in 2008 and 2009 was very much, I think it’s going to get much worse, because we’re never lived in times quite like this when the whole world was inflating their currency and everybody had a paper currency and nobody is living within their means.

Neil Cavuto: That’s one thing, Congressman, if you think about it, for the Left to say, “If in doubt, spend more”. But now, for the Right to say we need to double our spending on security, sort of like we did during the Bush-years, because our lives are at risk”. Obviously you could scare anyone into thinking, “Well, I guess it’s well worth it”, just like these privacy invasions I was discussing with your son last night, Senator Rand Paul, are justified. Because we might get killed, but what’s the harm if they’re poking into our emails and taking heat images of us. I just think you got to draw the line somewhere.

Ron Paul: Well, I do too, and I think it should be to just follow the constitution, and we shouldn’t build up this fear. Either one side says there is fear from outside so we can’t ever cut a penny from the military, and we have to expand it when we run into trouble. And the other side says we have to have a safety net for everybody, and they compromise. They always complaint so often that we don’t have then compromise in Washington, but, quite frankly, I think there’s many a compromise. And it wasn’t so bad when we were a growing country and we were so wealthy. But we’re not as wealthy as we used to be. matter of fact, we’re a debtor nation, we’re not producing as much, so, therefore, the compromise is only to continue the spending which is the wrong thing to do. They should come to the other and say, “Maybe we don’t need to be the policeman of the world, maybe we don’t have to have food stamps for 48 million people, maybe our policies are wrong, maybe Keynesian economics doesn’t work, maybe the Fed is the culprit, maybe we ought to know what the Fed is doing.

Neil Cavuto: Congressman, you raise a lot of brilliant points, as you always do, but here’s my fear. We’re bitching (pardon my French), the way we are now at these lines at airports, and blaming it on what were the tiniest of cuts in the scheme of things, and that’s creating the rage right now, with even some Republican senators saying, “Enough, maybe we have to delay these layoffs”. We will never address a fraction of the issues you are talking about.

Neil Cavuto: Well, that’s my working assumption, that it’s not going to happen. And the next question will be, “Why do you even try to change people’s mind?”, because I think it is important, I think we will have a crisis. And I’m actually encouraged because I talk to a lot of young people, they know it’s coming, and they want to hear something different. And something will have to replace it, and for that reason, there are a lot of people now assuming that there’s going to be no easy way out. We’re not going to get enough members of Congress to all of a sudden vote against the military-industrial complex and domestic welfare. No, that is well entrenched. Conservatives are military-Keynesians, because they say, “If you don’t build the F-35s, it hurts jobs”.

Neil Cavuto: Having said that, though, your son, Senator Paul, did say that to use this type of high that technology to go after bad guys is fine. He obviously doesn’t want it used recklessly on individuals, but he seemed to draw the line that to the degree you can track down bad guys, and we have that technology … I think I got the gist of what he said. What do you make of that?

Ron Paul: When the courts approve, that will be fine, but it was never meant that we would have this gigantic police force from the federal government. We had martial law out there, the FBI and all these agencies come in closing things down and going into people’s houses. No, technology is fine, but it has to be guarded. And if there’s a question, you guard liberty before you say, “Well, if we catch a bad guy, that is good”. You don’t give up liberty for 9 people because you might find one person, so I’d be very, very cautious about that. The federal government is not supposed to be our police force, yet we have over a 100,000 federal officials who carry gun to enforce these laws, and they own Boston. It’s criminal that people tolerate this so much, that we tolerate this martial law and the total acceptance that they can come into our houses and we can’t even go out of the house. What if we want to go to the store and get a loaf of bread? Oh no, you can’t do that. And yes, it was serious, there was a crisis and there were three people killed. But we have 48 murders every single day, there are a lot of murderers out there. Do we close down cities because there’re 10 murders over the weekend in Chicago? We don’t do that. But here we close down a whole city, not even allow them to go to a baseball game. I mean, I think it’s very, very scary when I look at some of those pictures of what happened up at Boston.

Neil Cavuto: Ron Paul, you make people think, thank you very much, good hearing you.

Ron Paul: Good to talk to you.


  • JohnEngelman

    The “True Economic Crisis” of the Great Depression was ended when President Roosevelt imposed a crushing tax burden on the well to do, and spread the wealth around.

  • Ron Paul speaks the truth

  • nix the next in that last sentence

  • nix the next in that last sentence

  • Does the reporter say “your an idiot” in the end??

  • Ron Paul! Should be our next President of the UnitedStates!

  • why can Rand not be more like Dr No? i fear we will not have a proper Dr No someday. i pray Ron lives 25 more years in strength.

  • A Fox News reporter who seems to appreciate the truth and bothers to listen to good old Ron Paul. Don’t see that everyday. God bless him

  • A Fox News reporter who seems to appreciate the truth and bothers to listen to good old Ron Paul. Don’t see that everyday. God bless him