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Sen. Rand Paul Interviewed on 'America's Newsroom' W / Bill Hemmer - October 9, 2013 (VIDEO)

Sen. Rand Paul Interviewed on 'America's Newsroom' W / Bill Hemmer - October 9, 2013 (VIDEO)


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Rand misses the opportunity of a lifetime!

Soft pitch... right past Rand's bat and disappearing into the catcher's mitt... Strrrrike!

"new car and an Xbox"

The analogy was nonsensical coming from Obama's mouth. Rand needed to [right out of the gate] turn it back ironically on Obama and Reid to where the analogy actually makes sense. It's Reid and Obama who are holding out for the new car and Xbox. This is an easy one for the population at large to grasp.

This is a fine interview and it's sort of a paradox that the better Rand gets with interviews and public speaking, the more I cringe when he misses moments like the opening one here. One thing I've come to enjoy about Mike Lee, not that Lee will ever be the great communicator or all around spokesman, is that Lee pays close attention and usually connects on a soft pitch for at least a double. Massie's the one who can really knock these out of the park, sure would like to see him in the line-up more often.


If he can't insist that if the Senate can't agree to drop their own waivers of Obamacare, along with the Corporations, OR, if the Senate Democrats refuse to waiver themselves, as well as McDonald's, the Unions, and any other corporation, then, the Republican Congressmen should stick to their guns literally, and the Government be damned, so to speak!

If he can't demand that Obamacare should be a voluntary choice for the public, then, the Republican Congress should NOT fund Obamacare one penny!

But, all of a sudden, we hear NOTHING FROM THE RINOS about Obamacare, NO SPECIFICS like above, and nothing about PRO-CHOICE for American citizens to decide if they want Obummercare or not!

Afterall, the Congress & Senate & Supreme Court are corrupted by the elitist's saturation of money through their lobbyists for all these decades, and American citizen's power has been eviscerated right along with the US Constitution. No surprise here..

Rand is compromised by his own desire to seek power within the Republican party, imho.

Bill Clinton pushed off the

Bill Clinton pushed off the collapse of the NASDAQ Dot-com bubble onto George Bush. Obama wants to push the bust of the Credit Money bubble onto to the next president that will probably be a republican.

Balancing the Budget in 5 Years?

I heard Rand Paul say in that video that he favored something like what he called the "Penny Plan" which would cut federal spending 1% across the board and balance the budget in 5 years. Is anyone aware that the deficit fell to $642 billion in FY2013 from $1.1 trillion in FY2012? This was the fastest pace of deficit reduction since the post WWII demobilization in 1946. At that rate of deficit reduction, the federal budget would be in balance within 2 years. Most of the deficit reduction in FY2013 came from rising tax revenues resulting from the economic recovery weak & tepid as it is, but some of it also was due to federal spending cuts from sequestration, a repeal of the 2-year, 2% holiday on Social Security payroll taxes and tax increases on upper incomes. WE CAN DO WITHOUT THE TAX INCREASES.

For the record, I am totally against not raising the debt ceiling unless the Fed, Treasury and Congress declare that $2 trillion of Treasury debt held by the Fed from its QE asset purchases should not apply to the debt ceiling. When the Fed buys Treasury debt via QE it is functionally the same thing as Treasury not issuing that debt in the first place. That would bring the outstanding debt down to about $15 trillion which is well below the $16.7 trillion ceiling which was technically breeched way back in May of this year. This policy action would make the debt ceiling crisis dissipate like the morning mist and give our policy makers 2-3 years of breathing space to come up with pro-growth economic policy as opposed to austerity.

Barring that, if the debt ceiling is not raised, the US government will be compelled to go cold turkey into a balanced budget, which means that about 18 cents out of every dollar the federal government currently spends will have to be cut. By extension that also means that a lot of people are going to get thrown overboard only they won't see it coming. I fully anticipate that this kind of shock therapy approach will throw the economy back into a severe recession.

In my opinion the unintended consequences of a cold turkey balanced budget will be as follows.....

Massive deflationary pressures in prices (down periscope)

Consumers will stop spending as creditworthiness collapses

Stories surface comparing major fortune 500 companies to Bear Stearns & Lehman Bros.

Recent stock market performance.... DJIA down 5.52% & S&P500 down 3.5% from Sep 19 high water mark will be just a harbinger of things to come. Stocks will crater. Probably a good time to but put options.

Credit spreads will deteriorate sharply.... Spreads between Treasury yields & corporate yields will explode wider.

Dollar will strengthen sharply on FX market because $s will become scarce.

Treasury note and bond prices will rally sharply (interest rates lower) as traders conclude that the Fed will keep % rates low forever.

Recent tension in the streets and violent acts likely to escalate as economic conditions worsen.

All of this could be avoided by canceling the $2 trillion of Treasury debt held by the Fed and this remedy was in fact the brain child of Ron Paul over two years ago during the last debt ceiling crisis. It is truly ironic that his proposal was enthusiastically endorsed by a well known liberal Keynsian economist, Dean Baker, in an article he wrote for the New Republic in July of 2011. Why isn't Rand Paul talking about it?

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


That said, if the debt ceiling is not raised and none of my predictions come to pass and the economy rebounds in a sustained recovery, I will have plenty of egg on my face for everyone to ridicule. But if I'm right there will be hell to pay for all us us and soon.

Have a Nice Day !

Ed Rombach

metalhed19's picture

Great Job Rand. Sounding very

Great Job Rand. Sounding very Presidential...

*Wisconsin Constitution* Article I, Section 25 "The people have the right to keep and bear arms for security,defense,hunting,recreation or any other law-abiding purpose"


Thanks for the upload rpcongress


Michael Nystrom's picture


I embedded it in your post for you, E.

He's the man.