Ron Paul: "We Will Default Because The Debt Is Unsustainable" | RealClearPolitics
"When a country is indebted to the degree that we’re indebted, the country always defaults. We will default because the debt is unsustainable," Rep. Ron Paul (R-TX) said on the House floor today.
"If we don’t understand this, this default will not be because we don't send out the checks. We will send out the checks. It will be defaulted on because people will get their money back, or they will get their Social Security checks and it won't buy anything."
At times.....the only grown up in Washington--Ron Paul.
What will soon be 96 Debt Limit Increases later.......in the name of "preventing a default".......will ultimately be the default. A default and train wreck we have seen coming for the better part of the century.......while a massive bloated liberal nanny state government insists they have to spend more while calling Ron Paul a nutjob.
Paul/Paul in 2012!
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Ron Paul is perhaps the most despicable imitation for a political leader that we have seen since the days of the rabid segregationists of the Fifties. If he got his way, America would be destroyed and the American people reduced to shades of what they are today. His unique brand of libertarian corporatism would put us firmly on The Road to Serfdom.
This latest pompous pontification from the old gasbag does not surprise me....... but it does disgust me.
At times.....the only grown up in Washington--Ron Paul.
I like how you use "The Road to Serdom"
That was a good book. It described something that actually made sense though. You know, unlike you.
Gordon Tullock has argued Hayek's analysis predicted totalitarian governments in much of Europe in the late 20th century. He uses Sweden, in which the government at that time controlled 63 percent of GNP, as an example to support his argument that the basic problem with The Road to Serfdom is "that it offered predictions which turned out to be false. The steady advance of government in places such as Sweden has not led to any loss of non-economic freedoms."
Ron Paul is perhaps the most despicable imitation for a political leader that we have seen since the days of the rabid segregationists of the Fifties. If he got his way, America would be destroyed and the American people reduced to shades of what they are today. His unique brand of libertarian corporatism would put us firmly on The Road to Serfdom.
This latest pompous pontification from the old gasbag does not surprise me....... but it does disgust me.
The fact that it was fundamentally wrong seems not to bother you.
His predictions were wrong.
If one were to research Ron Paul they may be surprised. While he is often times labeled a loon he has accurately predicted many problems that have come to pass including recessions, bubbles, inflation. I have come to heed his warnings.
Ron Paul is perhaps the most despicable imitation for a political leader that we have seen since the days of the rabid segregationists of the Fifties. If he got his way, America would be destroyed and the American people reduced to shades of what they are today. His unique brand of libertarian corporatism would put us firmly on The Road to Serfdom.
This latest pompous pontification from the old gasbag does not surprise me....... but it does disgust me.
Although the nation's debt burden is enormous in terms of absolute dollars, it is not at a level that can only lead to default as a share of the economy. If, and only if, the mandatory spending programs are not addressed would the nation see the debt rise to such a level. For now, the nation still has some time and latitude to shift its fiscal course and avoid such an outcome. I hope that the nation's leaders will do so, first with a downpayment tied to the debt ceiling increase, and later with a credible and significant long-term fiscal consolidation strategy that goes beyond the savings tied to the debt ceiling increase.
Ignoring that they turned away from their direction a bit.
How would the Forefathers and Founders be received if they were to return to Washington today?
With Torches and Pitchforks from the DNC.......
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He was wrong. No ifs and or buts. He was wrong.
While a serious problem, the debt we have is not insurmountable. The debt to GDP ration was higher in the 40's. We are rapidly approaching the edge of the cliff but we are not yet airborne. Now the time for decisive action, not doom and gloom fatalism.
You can't disprove him if the country didn't stay on the path it was on. If they didn't step back from their path he would of been right.
Yeah, and I cannot prove there are not three inch high monkeys made of flame who play professional basketball under the surface of Uranus either.
You never run out of poor mouth excuses do you? The guy was plain wrong and even other libertarians admit he was for heavens sake. Get over it and move on.
If one were to research Ron Paul they may be surprised. While he is often times labeled a loon he has accurately predicted many problems that have come to pass including recessions, bubbles, inflation. I have come to heed his warnings.
It would be good if America had more people like Ron Paul.
Poor analogy... back then we knew spending would plummet soon after the war. The current debt situation is poised to explode in the other direction.While a serious problem, the debt we have is not insurmountable. The debt to GDP ration was higher in the 40's. We are rapidly approaching the edge of the cliff but we are not yet airborne. Now the time for decisive action, not doom and gloom fatalism.
If and only if? What happens if by some unforseen event our ridiculously low interest rates rise to the average, or god forbid, to the levels we had thirty years ago?Although the nation's debt burden is enormous in terms of absolute dollars, it is not at a level that can only lead to default as a share of the economy. If, and only if, the mandatory spending programs are not addressed would the nation see the debt rise to such a level.
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