Ron Paul on debt deal
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ALEXANDRIA, Virginia - 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.
"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."
"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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Comments
That is very unfortunate. He is one of the few in Washington that understand the debt problem and wants to do something about. Well, others may understand but have no intention of fixing it.
This letter is amazingly easy to follow and understand (why, because it is the truth). The truth is not usually complicated. We need a President that will tell us the truth.
Care to respond to what he said or do you just troll every Ron Paul thread with the same simple thought?
yeah. i love that he took the same position as michelle bachman and sarah palin.
Doesn't that blow your mind? The pentagon got a f'ing increase this year.
I'll save us 2 trillion in ten years: chop 200 billion from defense, everything else stays.
Please dont mention them in the same sentence, you hurt any chance at having credibility. Dr Paul has more principles in his pinky finger than those two idiots have ever even thought of.
This is just more crap to circle the bowl.
A few pointless and meaningless cuts, a raise of the debt ceiling and the richest people and corporations not paying their fair share.
I will never vote for a Republican. Ever. I'd also never vote for him, I think he's a total fool.
But he's right about this.
I think because this country has maintained a safe haven for imagints from all over the world
people that wanted to escape the unfair treatment delt by their own government or just hide out
and the only way we can offer that is to keep a strong military to protect us and them...we are the good guy's
but we need to have a strong military to keep our freedom and to offer it to those that come here right.
Godfather.
There was another thread about Paul a while back where the question of "why is it important to audit The Fed?" was asked. I think this answers it. This information is only a one time audit over a brief window of time, so who knows how much other money has been secretly doled out by them over the course of their 100 year history?
That's why this whole issue of raising the debt ceiling is a circus and a distraction. Government spending IS out of control, and I'd like to see it curbed big time, but not before we address the situation as stated above. Everyone knows cronyism is rampant in Washington, but how many people knew it was THAT bad. I know this information is still fairly new and likely hasn't reached the masses yet, and it might never. But if it did, I would think the level of outrage might be enough to actually do something about this problem.
He has also gone on record to say that since 1.5 trillion of our debt is actually owed to The Fed, that we should simply stiff them for it as the first means of cutting down the deficit. After all, all they did is create this money out of thin air and loan it to us at interest, so they really aren't losing anything at all.
It is too bad that things like this, auditing the federal reserve, are seen as non-essential crack pot ideas. Someone comes into every thread about Paul and says he will not be president...and unfortunately they are probably right...if people think a full audit of the Bank system that creates and controls our nations money is unnecessary and pointless, then why on earth could they be counted on to ever elect the right person for the job..ever.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
For all of the outrage there is out there against big business and corporations that do not pay their fair share, I can think of no better solution to those problems than either abolishing or entirely revamping the Federal Reserve system. Their very existence ensures that the most connected corporations worldwide will never lose, at the expense of the taxpayer and all other holders of the dollar, so long as the dollar isn't completely destroyed. Their very existence means that our debt can never be repaid because every dollar created has interest attached to it, and therefore there technically can never be enough money in circulation to fully repay the debt. If the people of this country want a national fiat currency-- I do not like this idea, but it's a compromise. Why not have the treasury issue debt-free money, and not create additional dollars for anything other than what Congress and the President directly autorhize through legislation?
Why should banks be allowed to operate on fractional reserves while the rest of us cannot? Why shouldn't fraud be illegal across the board for everyone in this country?
http://www.nytimes.com/2011/08/02/opini ... ml?_r=1&hp
the military and pentagon always gets their fucking funding. that is the first rule of united states fiscal policy. everything else is not a priority.
"Well, you tell him that I don't talk to suckas."
It was decent if you were reading it to understand the solutions for this problem as presented by the Keynesian viewpoint (which I do not agree with, and believe is the source of the problems of our economy). It wasn't decent in that it called the Tea Party "terrorists." Since "Tea Party" is synonymous with "Republican" to most people here, it is safe to say that more Republicans voted for the debt ceiling increase than the Democrats, and a larger percentage of the Republicans voted in favor of this than the Democrats. But still, it's just kicking the can down the road, and dealing with this problem sometime in the future. Again, I still think it's far more important that America deals with the secret transactions by our central bank with our money than to deal with all of this, but apparently I'm in the minority.
Scare tactics are used all the time, and we should all stop falling for it. How about this here episode in dealing with the bank bailout?
http://www.youtube.com/watch?v=RGN1xJv6Mcc
I wouldn't even call that "terror" but it's a lot more threatening than anything that has been thrown around in the past few months by any "tea partiers."
It's amazing how the definition of "terror" has expanded, as many of us classical liberals have predicted, to start including more and more people. How about we completely just stop the war on terror to cutting spending?
Does this change your opinion on raising taxes when you know that military will get the bulk of our money and have top priority over other programs?
Go on youtube, and re-visit the Republican presidential debates in 2008 to see where the other candidates stood in relation to Ron Paul on every issue. None of them were even close. See where they stand now. They're not Ron Paul, but they've certainly come his way at least in what they say-- especially on the economy. They have a ways to go on social issues and foreign policy, but many of them have become significantly less hawkish in that regard. Part of it may be because Obama has proven to be quite a hawk when it comes to war himself, and isn't all that socially "liberal," and it's natural for the "right" to simply oppose him on whatever he says. The other part of it is that the people of this country DO want progress, although we argue about whether to bring it abouv via force or choice. My point is though, that many of Paul's ideas are becoming more popular-- they appeal to both liberals and conservatives because both sides of the political spectrum agree that government and business can be abusive, especially when they get in bed with each other. If people in this country want to make marriage illegal, it should be that marriage and that marriage only that is illegal: corporations and government. People like Bachmann and Palin are true politicans and will say what the people want to hear. The country, and mostly the conservative section of this country has changed significantly since 2007 away from the neo-con viewpoint and are moving towards a libertarian viewpoint. It's far from a majority, but politicans are recognizing a trend, and are attempting to be the first ones to not only echo the ideas of this trend, but to claim them as their own ideas entirely.
Now go youtube a Ron Paul video from before 2000. No, 1990. No wait, 1980. 1970 even? You will find his positions are consistent with what they are today. His ideas are principled and rooted in classical liberalism and Austrian Economics, and if you give the guy more than a 30 second sound byte, you will find that he has given serious thought to every position he takes when he votes. I urge people to read his books to get a full idea of what Ron Paul is all about and has been about his entire career. Just because a few morons from the Tea Party movement try to spout off flashcard memorization of his ideas while being wrapped in a prettier package doesn't make those ideas bad ones. Are you going to stop listening to Pearl Jam because a few drunk morons at their concerts can't control themselves and scream for Betterman and Jeremy constantly?
http://thehill.com/blogs/floor-action/h ... by-the-fed
Saying that the downturn of 1937 was "caused" by reigning in deficit spending is not at all telling the whole story. Back to the idea of spending, this is an interesting quote from FDR's treasury secretary talking about fighting the depression with spending, “We have tried spending money. We are spending more than we have ever spent before and it does not work.” the fact is that government spending is not the cure all it is made out to be when talking about the economic recovery, nor was stopping it the only reason for any recession.
http://mises.org/daily/4039
pretty interesting opinion piece here as well talking about the cited 1937 recovery.
We get it, the tea partiers are terrorists that want to destroy the country...hmmm sounds familiar...like when those same tea partiers were called fear mongering assholes and liars when they said that obama was a socialist who wanted to destroy the country...I wonder if either side really wants to destroy America...I am guessing no.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
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