12 votes

Ron Paul Texas Straight Talk: U.S. Government Debt Is Becoming Worthless

Ron Paul Texas Straight Talk 8/15/2011

http://youtu.be/WS5zO7_FjbU

Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard & Poor’s downgraded the US debt ratings anyway, roiling world financial markets. Anyone who has taken an honest look at the government’s fiscal situation, taken into account how Washington works and the direction it is going would have a very difficult time arguing with S&P’s decision, although a strong case can be made that this was too incremental a downgrade and that it took far too long for S&P to admit the obvious.

Nonetheless, the administration nitpicked over a $2 trillion “mistake”. S&P rejoined with the fact that $2 trillion here or there hardly makes a difference in the time frame under discussion. That, if nothing else, should tell you the magnitude of the problem. $2 trillion has become a drop in the bucket.

S&P cited Congress’s inability to act like grownups and make necessary, meaningful cuts, which is true. I must take issue however, with their suggestion that tax increases are part of the answer. Taking capital out of the private sector, where it can create real value in the form of new jobs and products, and instead giving it to Washington to waste and squander is not the solution. Tax increases may seem penny-wise to some, but in reality they would be very pound-foolish. The government currently takes in $2.2 trillion in taxes per year, which is far too much already. It spends $3.7 trillion, which is ridiculous and criminal. The problem is runaway government spending, not the American people having too much money.

And yet we can’t even have a serious discussion about bringing our troops home and ending our expensive occupations around the world – things the president used to claim to favor!

Even without this downgrade, major investors are waking up to what lies down the road for the United States in fiscal terms. China is showing more signs of losing its taste for our debt. Others are following suit. What we are about to see is the end of the dollar as the reserve currency of the world. When that happens, we will no longer be in a position to have pretend debates about things we probably should spend a little bit less on – we will be forced to implement serious spending cuts as our sources of credit dry up. Of course, we can try to postpone the day of reckoning by printing more money but the resulting “inflation tax” will be far worse than a reduction in government benefits.

Hyperinflation devastates the middle class. After Weimar Germany hyper-inflated their currency in the 1920s, an entire life savings couldn’t buy a postage stamp. The bank wouldn’t even send customers a check for all the money they had saved their whole lives. It wasn’t worth the paper it was printed on or the stamp to send it. This is what is meant when it is said that the middle class gets wiped out. The pieces for this to happen here are all falling into place, and have been since 1971. The only way to avoid that sort of chaos now is for Congress to immediately reduce federal spending and take the Constitution seriously again. The welfare/warfare state will end either way, but winding it down responsibly is a far better way to do it.




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emalvini's picture

Uncle Ronnie Sounds Tired...Get Your Rest Uncle Ronnie!

I could hear it it in his voice. Talking mistakes. Wasn't smooth. Doing too much.

God, I hope he doesn't get ill.

Thanks legalize..Your a Saint..."Saint Thomas"

you are a Saint as well

Thank you brother in Liberty

here is a song for you:
http://www.youtube.com/watch?v=xJMaDxjjc6s&feature=channel_v...

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Link to Audio Podcast

http://www.ronpaul2012podcast.com/2011/08/16/texas-straight-...

In this week's Texas Straight Talk telephone update, Dr. Ron Paul warns of the day of reckoning coming as a result of runaway federal spending. S&P is plenty late to the party that many free-market economists arrived at a long time ago- US government debt is already overvalued!Video compliments of YouTube User: RonPaul2008dotcom."

reedr3v's picture

Hmm, I don't know if the audience for

this has grown. On Y.T. it still shows around 300 views as it has for many many months. If RP is going to continue recording these weekly statements, I'd hope the campaign could afford to hire some hot shot young person to upgrade the quality.
The prepared speeches may usually be ok, sometimes he makes very good points. But the delivery sounds rough, sleepy, tired. So it is far less effective than it should be. In this one there were a lot of halts, it was very clear it was just being read and not well.
If the quality doesn't improve I'm not sure this is a good use of Dr. Paul's time. I know money is an issue, but I see many creative people putting out audios and videos with much higher quality, on a shoestring.

its 3,663 views on YT now for this

one and it was only posted on Monday. A lot of older folks may just call into the phone # and listen to it.

I think he does his recording on late Sunday...

now it seems

like Ron Paul is "back of the pack" on the website that carries his name.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Allrighty LL

This piece provokes the question: Are we Nazis now, Or are we living under a Nazi regime?

I know people go there on DP from time to time, but I really think, even if it's a form of denile, it's also a matter of not wanting to go there, here.

I think the piece has some interesting facts, but it's ultimate thought is very unpleasent.

Finally, I am VERY sensitive to any and all media that portrays RP as Hitler, the shadow under the nose so happening to look like a mustash... the arm raised in what appears as a peace sign. Most folks know the Bushs and Schwartzenegger and others hailed from those parts, and articles such as yours makes me wonder about RP, Is he just a trojan horse? Is the choice really communist or fascist?

Now you know why I hesitated to respond, also I don't care about twitter being I don't twit.

Granger my sweet friend

This is not my article.
It is Ron's official Straight Talk that appears once a week.

Your comment is quite confusing...to say the least.
What do you mean?

Tyranny can be called many names:
Communist Fascist...e.t.c. it's still the same tyranny & us trying to put a name to it.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Hi ((((( LL ))))))

I'm aware it is not your article ((( ll )))). I agree, tyrany takes many shapes.. it's a shapeshifter, and a body snatcher too.

Recall during President Obama's inaugeration, the blue in our Red, White and Blue, turned black.

I'm simply admitting that I am sensitive to anything that remotely makes me think Nazi, which, talking about what happened in Germany during Hitler.. it makes me FEEL (respectfully) that I am living in a Nazi regime and I don't like associating that with Ron Paul, even when I see things, like a little Hitler mushtash or a peace sign that looks like "sieg heil" on RP, it repulses me and I'm not alone.

Any form of art, writing, photos, drawings of RP provoking or associating with Nazi Germany is aweful... when I see red white and black, when I see Hitler and not RP, when I see Nazi and not LIBERTY from Tyrany, but being sucked into what I know (by propeganda from before I was born and throughout my lifetime... to have me go there, or relate), I'm very turned off.

I don't agree with RP 100%, and I admit, some things, I didn't agree, I came around to thinking he was right, such as pro-life, I can handle Pro-Life being a state right issue (believing it should not be a government issue at all).

By responding, I'm bumping. If I'm wrong, I apologise respectfully. I love you, and RP and DP and I want us to win. This article isn't something I would be sharing with potential voters because it provokes Nazi thoughts about America, which even if it is true, it's not where I want to go. I have better ways to attract voters for RP, and I don't like thinking tricking people into a fascist regime.

I am half Jewish born in Poland

and I am a freedom fighter.

Let us focus on the gates that lead us to freedom.

Song for you:
Sarah McLachlan - Loving You Is Easy
http://www.youtube.com/watch?v=qcIqPINH2RM&feature=related

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

The Weimar Republic

Just to comment, but you do realize that the Weimar Republic was before Hitler. It was the hyper-inflation which took place after WWI which lead to the rise of Hitler and the Third Reich, because he was able to unite the people after the collapse. Hopefully all of us on DP are trying to get the good Dr. elected to prevent the same situation from taking place here in the United States.

come on patriots we need some comments here

I posted this on Twitter a while ago & zero comments is just not fair for the Twitter users to see.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

LL, I don't Tweet but

I'm about to copy this article and e-mail it to some of my Neocon relatives whom I have been pestering about RP for a while now. They NEED this dose of reality. Their political paradigm is going the way of the DoDo bird, no matter what, and they need to wake up to the fact that it is better for us to control the transition to the extent that it is possible. Only the election of RP will provide the leadership we will need in the coming years.

Quinquagenarians for Ron Paul! Who says that you can't teach old dogs new tricks?

Thank you

direct actions like yours are the best.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15