Follow by Email

There was an error in this gadget

Tuesday, July 19, 2011

Ron Paul: “The reason we don’t cut spending is, one side loves entitlements and one side loves war,”

Rep. Ron Paul (R-Texas) on Tuesday predicted that the U.S. would default on its debt.

When a country is indebted to the degree that were indebted, the country always defaults, the 2012 GOP presidential candidate said on the House floor.
  
We will default because the debt is unsustainable.

Paul predicted that the U.S. government would dodge the best solution, which is to impose real spending cuts.

The reason we dont cut spending is, one side loves entitlements and one side loves war, he said.


But he warned against the temptation of simply continuing to send out government checks backed with more borrowed money. He said choosing this course would mean default would come in the form of significant inflation and a further erosion of the dollar. Full Story




Featured Video: Tyranny and Nullification


Related articles:


The Police files


Ron Paul is the only "electable" Republican


Simply voting out Obama is not the solution


State Governments say they own the rain and if you steal it you could be arrested


A Tale of Two Elections: Historic or Unimportant