Ron Paul: We’re Defaulting On The Common Person All The Time
Jun. 5, 2011
Rep. Ron Paul spoke to Bloomberg’s Al Hunt on Friday, on the issue of the debt ceiling and U.S. government spending.
1:00 The Congress will pass the debt ceiling, probably at the last minute. The catastrophe is coming regardless, because the U.S. government spending will continue to rise.
1:40 Doesn’t believe the one-for-one cuts Boehner talks about won’t happen.
2:20 “We’re defaulting constantly;” “The default comes when we devalue the currency.” We’re defaulting on the common person all the time.
4:20 Politically, those backing wars in Iraq, Afghanistan, Pakistan, and Libya are making a mistake. We can’t pay for it, and people know that. “We’ll run out of money. That’s how all great nations and empires end.”
5:20 You target all foreign welfare and corporate welfare before you target child health care. That sells. Look at all the atrocious spending we do overseas.
Paul also talks extensively about his opinions on the Fed, and other candidates in the Republican field.