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Sen. Rand Paul Appears on CNN's 'Out Front' W / Erin Burnett- October 2, 2013 (VIDEO)

Sen. Rand Paul Appears on CNN's 'Out Front' W / Erin Burnett- October 2, 2013 (VIDEO)


http://youtu.be/ABbyHP5o8tk



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If Congress and the White House....

..... fail to make a deal on the debt ceiling IT DOES NOT MEAN DEFAULT. Rand Paul said as much in that CNN interview starting at about 7 minutes into the segment. He also said that the US government would have to immediately go to a balanced budget. I think this means that the economy will probably suffer a relapse back into recession.  Here’s my analysis BY THE NUMBERS.

Nominal US GDP is growing at an annual rate of about 2.5%. US federal spending currently weighs in at roughly 23% of GDP, in contrast to the historical average of 19.6% from 1946 to 2008.

If the debt ceiling is not raised, the government will have no choice but to go COLD TURKEY to a balanced budget by cutting 18 cents out of every dollar it currently spends. Picture a game of musical chairs with 100 people playing and when the music stops playing 18 people can't find a chair to sit down on. Slashing 18% of the federal budget would bring US federal spending down to roughly 19% of GDP and by extension cut the annual GDP growth rate from a positive +2.5% to a negative -1.5% in a New York minute. Negative GDP growth is the very definition of recession.

Media pundits, financial industry analysts and politicians seem to be missing sight of the fact that the deficit fell to $642 billion in 2013 from $1.1 trillion in 2012, mostly due to rising tax revenues resulting from the economic recovery weak & tepid as it is.  

At this rate of decline the budget will be back in balance in only two years.  The deficit bogeyman will be dead without having to put the budget into balance via shock therapy!  The risk is that additional austerity at this stage causes the economy to relapse back into recession ala the 1937 recession within the depression when Roosevelt tried to balance the budget ahead of the 1938 elections.

I wish Rand Paul would discuss the solution his father promoted 2 years ago during the last debt ceiling crisis which was to cancel the debt held by the Fed from its QE asset purchases. Here is what Ron Paul had to say about this issue back then....

Ron Paul’s Surprisingly Lucid Solution to the Debt Ceiling Impasse

http://www.newrepublic.com/article/politics/91224/ron-paul-d...

Ed Rombach

The American Medical Association (Union) is a Cartel

Until we eliminate the Govt Laws that eliminate all competition to the AMA the price of healthcare will never come down.

We have elitist medical care for a country where half the population can barely feed themself and half of those can't read. For most of these people 100% of their worth will never pay for the healthcare they are promised.

What economic formula would support one of these people getting heart surgery, a kidney transplant, plastic surgery, cataract surgery and a hip replacement AND the right to sue the doctor for 1000x more than their net worth would ever be.

Stop propping up the AMA, let people buy cheap non-elite healthcare more in line with what they can afford.

I am the American Public and I say NO COMPROMISE!

NONE. Keep the government shut down.

If the states and counties want to provide health care, let them; the federal government was never delegated that power:

http://www.dailypaul.com/301168/obamacare-can-never-be-ratif...

This is a battle of more than health Insurance; This is a battle to keep the federal government out of the states and local communities.

RichardTaylorAPP - Chair - American Patriot Party.CC

John Locke #201, 202, 212 to 232; Virginia and Kentucky Resolutions 1798; Virginia Ratifying Convention 6-16-1788; Rights of the Colonists 1772.

This is where I start to

This is where I start to disagree with Rand.Both parties have been compromising for too long.Lets say they do compromise on Obamacare and get the mandate eliminated or get rid of half of the taxes in it,who is to say in a few years it wouldn't be far more complicated and destructive than when it was originally written.It needs to go,no compromises.Rand's father wouldn't compromise.

Niether would Rand

Look at his record. He wont vote against principle, but he will publicly encourage the parties to work together to find a solution.

That's what the American people want. He is brilliant. And he won't vote for anything that he doesn't campaign on. But why not take the opportunity to sound like the voice of reason.

The arguments that you're making sound like libertarian talking points. Look for the big picture and dont be a mouthpiece, even if it's for Ron Paul.

Séamusín

Principals

Rand is teaching congress how to stand up and take charge. He does it with compromise in order to work the system.He knows the rules of the game and uses them to his advantage. A principled man working within the system is what Liberty needs.

His father was never allowed into the system and served as a beacon of Liberty & Freedom as a true American.

Live in Liberty
Tom Rankin

The media bias and support

The media bias and support for this dictator is so naked and stunning!

There was not a moment of journalism in this exchange.

Strictly propaganda on Erin Burnett-Rubulotta's** part.

**David Rubulotta, a managing director in high-yield sales at Citibank, proposed a month earlier, the New York Post reported.

The couple reportedly met when Burnett worked as vice president of Citigroup/CitiMedia prior to joining CNBC.

While he's currently a Citigroup executive, he was previously employed by Lehman Brothers where he worked in trading.

Read more: http://www.businessinsider.com/david-rubulotta-2011-9#ixzz2g...

Another Communist Media Whore

These communists don't even try to hide their propaganda.

Why don't you give up? You have what you want. Just let Obamacare through so people can see that it is a disaster.

She might as well be Tokyo Rose.

The worst part of this is that the real journalists are being shut out of media by these foot soldiers of the one world marxists.

I just love the closing statement by this biased

Media whore. 'There was an agreement by both parties that they both refuse to negotiate on anything." How they lie. The republicans were there to negotiate, the dems said they were not going to.

Rand is getting better with his arguments. He has been totally versed on bills and laws. Very good responses to her traps.

Peter King needs to go!!!!!!!!

It's time! Rand Paul 2016!

"Truth, Justice, and the American Way!"

DJP333's picture

Set 'em straight Batman

Govt shutdown? This is a national emergency! Only 15% of the govt is shutdown stupid | batman slap robin

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different." ~CW

Excellent!

Rand Paul is cutting through a lot of the political scare tactics (about defaulting on payments) and explaining how things really are.

The fearmongering about default pisses me off to no end...

That there's a risk of default is absolutely false, as a matter of simple math, and anyone with 5 minutes and an internet connection can discover that fact, but they manage to keep repeating it over and over again. This has been going on for YEARS now, and it seems no matter how many times Rand or someone else points out the lie, they say "well that's an interesting perspective" and just keep right on with the same bullcrap.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

What happens if we do

What happens if we do default?

scawarren's picture

Well then maybe China would

Well then maybe China would quit lending the government .43 on every $1!
That would probably be a good thing.

It is easier to fool people than to convince them that they have been fooled. – Mark Twain