Ron Paul on CNN: Bailout means we’ll all suffer
Paul was interviewed Friday on ‘American Morning.’ The topic of discussion was the bailout. Nothing new was really said but the interview did end on this more hopeful note, one which it seems Dr. Paul is trying to work into more of his public appearances.
Chetry: I know what you’re saying. Staff members writing on your own Web site say the Democratic takeover of both houses of Congress and the White House this November would be a “repudiation of false conservatism of the Republican Party.” How do you get back to some of those fiscally conservative ideals?
Paul: It’s going to be tough because you have to convince the American people that that’s what we need. And everybody now is realizing in the country there’s something seriously wrong with our whole financial system and our governmental system.
But the big question is: Does the majority of the American people believe the government can still take care of us, or should we get the government out of the way, quit spending money, balance the budget, bring our troops home, and let the American people keep the money they earn? That means drastically reducing taxes.
Get the government out of this overregulation, and give up on this idea that inflation solves everybody’s problems. If inflation, that is the creation of new money, could solve everybody’s problems, which they’re claiming right now, nobody would ever have to work again. If $5 trillion could save this economy, why work? Just print money, and everybody will be happy.
They don’t understand the idea that people have to work. People have to save, instead of consumers spending more money.
The market is saying you should back off, spend less money, and save money. Everybody says, no, don’t save money. You’re supposed to go out there and spend money.
The people who have saved in the last five years have money in the bank, and cash is good right now. They’re going to buy up the bargains. They’re going to get a good deal on a house. Prices on houses should come down. We shouldn’t keep them artificially high. We shouldn’t try to stimulate housing. There are too many houses. We should let the market make these decisions.
It’s arrogant for the politicians and the bureaucrats to believe they can plan the economy and sort this all out. We’ve been doing it for all these years, and the monetary system is so confusing and so corrupt, that the sooner we get back to believing in ourselves, believing in freedom, believing in sound money, believing in the Constitution, we’re going to solve these problems.
Right now there’s a fight going on in this country. Our numbers are growing. We’re not the majority, but our numbers are growing. And as this situation deteriorates, more people are going to say, hey, maybe it’s right. Maybe limited government and freedom works. Maybe freedom is popular, and maybe freedom really works. And this idea that we have to depend on government for all these programs is an illusion.













The cost of the bailout sure could show large effects as the numbers involved with it are quite large. There are only so many individuals in the United States, and so hundreds of billions of dollars being redirected in an incorrect fashion could lead to inflation or other effects that have not yet been categorized. It is a valid point to wonder about the validity of the bailout.
The cost of this bailout is staggering, and I agree with Ron Paul that it’s a bad idea. He’s also right to point out that there are real bargains to be had for those with access to cash (sadly, I’m not in that position myself!)
90% of Americans were opposed to the Bailout, and yet Congress voted for it instead. Before you vote, you should know whether or not your Senators or Representative were among those who betrayed the will of the people on this issue. Checkout the Bailout Vote Map at http://www.constituentresponse.com/congress and then vote “no” on the incumbents who voted “yes” on the Bailout.
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