16 May 2009

Ron Paul on Current Fiscal Policy

"There was a lot of expression of the outcry about this spending and the deficits we have and the deficits exploding and the Social Security, Medicare, Medicaid underfunded, and we are in the midst of a crisis. But it doesn't seem to bother anybody about spending. But the truth is, the Treasury is bare. The Treasury is empty. And yet we continue to spend all this money. ...

What about the financial calamity that is coming? I'm afraid this is the way this will end, through another financial crisis much bigger than the one we currently have, because you can't create $2 trillion of new money every year and expect this system to continue.

The Soviet system collapsed because they couldn't afford it. Their economic system was a total failure. We did not have to fight the Soviets. Even though they were a nuclear power, they collapsed and disintegrated. And that is what we have to be concerned about, because we cannot continue to finance this system and pursue a policy which endangers us."

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2 comments:

Tricia said...

Amazing how much truth he speaks and yet NOBODY listens. Scary.

Ritsumei said...

Well, I've decided that it's not terribly effective to talk about why Obama or anybody else is wrong. People get defensive and stop listening. Nobody likes "mud slingers," including me. I don't want to be like that.

Ron Paul talks sense, and so when I catch him at it I'll post it. When I find things like President Benson's "Proper Role of Government" I'll try to draw attention to them. I figure that it'll be more effective, in the long run, to talk about what is good, rather than attacking what is bad. At least, that's the theory I'm working with right now.

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