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Ron Paul: "We Will Default because the Debt is Unsustainable"

Badmutha

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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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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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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.
 
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.

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.
 
At times.....the only grown up in Washington--Ron Paul.

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.
 
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.

The fact that it was fundamentally wrong seems not to bother you.

from the Wikipedia article on the book


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."

His predictions were wrong.
 
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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.

Well, I was up in the air on what Paul said, but since you were able to disprove his assertion with thorough evidence, I have no choice but to consider this man a loon and a danger to society :roll:
 
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The fact that it was fundamentally wrong seems not to bother you.

His predictions were wrong.

Ignoring that they turned away from their direction a bit.
 
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 seems the Further Left this country ventures.....the more brilliant Ron Paul becomes.....your right the guy has been spot on.......on an array of issues at hand.....and those to come.

But there are those that will refuse to listen......
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How would the Forefathers and Founders be received if they were to return to Washington today?

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.

With Torches and Pitchforks from the DNC.......
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This guy is trying to put his foot in the door. He has a hidden agenda and I don't trust him. While I don't approve of both mainstream political parties, I'm not quite convinced this guy could actually bring something positive to society either.
 
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.

We wont be able to enter the downward spiral and just step off........we wont be able to spring ahead and stop the falling dominoes.......

.......perhaps its possible if we took action NOW........otherwise were simply going to follow in the footsteps of the plethora of failing liberal utopias around the world........who Spend till The End.

But as for NOW.......Democrats cant even bring themselves to cut a Cowboy Poetry Contest.......much less anything else.
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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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For a guy like Ron Paul - that would be just getting warmed up with the main event yet to come.
 
He was wrong. No ifs and or buts. He was wrong.

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.
 
Unlike so many other DC inhabitants, RP has held true to his ideals, and, although often misunderstood, has had the most foresight. If we had listened to him sooner, had taken him more seriously, today's economy would not be as dire, many conflicts could have been avoided.
Those who seek something for nothing will certainly disagree, but America can't thrive on being everyone's nanny.
 
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.
 
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.

We may have been there before, but we did have the jobs and people more than willing to do for themselves. Do we have that now?
 
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.
 
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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.

I'm not wrong and I don't care what other libertarians say. You can't say he was wrong about the economic direction of the country if the economic direction of the country changed after he wrote the book. You won't address that because you know I'm right. Admit it.
 
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It would be good if America had more people like Ron Paul. :)
 
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.


I agree 100%
There is a storm coming.
 
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.
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.
 
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.
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?
 
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