Ron Paul Warns of ‘Dire Circumstances’ If Debt Ceiling Is Increased
EmailRon Paul returned to Washington, D.C., on Wednesday to vote down President Obama’s request to increase the debt ceiling by $1.2 trillion.
On the House floor this afternoon, Paul pleaded with his fellow legislators to follow his lead.
“You can’t solve the problem of debt by accumulating more debt,” said Paul.
Living within our means is a central theme of Paul’s campaign. The Texas congressman often rails against frivolous domestic and foreign expenditures on the stump. The message is often accompanied with sobering predictions for America’s financial future.
“If we don’t do something, we will be forced under very dire circumstances, because we cannot bail out the world,” Paul told his House colleagues.
Paul, the only current member of Congress actively seeking the GOP nomination, took swipes at both Democrats and Republicans for contributing to the ballooning deficit.
The Texas congressman also blasted the largely symbolic vote, calling it a “really very mixed effort to try to curtail spending.”
“This power of the president to ask for a debt increase and then we have to get two-thirds of the Congress to prevent this from going up … this is a creature of Congress.”
Best Commencement Speeches of 2012 
Joe Biden Recalls Death of Wife, Daughter
At some point, the debt will become so huge, the govt. can tax every person and business at 100% and it won’t be enough to make the interest payment alone on our national debt. Of course the federal reserve and treasury will probably try to print our way out of debt but we all know how that ends from a historical perspective. If we don’t elect Ron Paul in 2012 then we are screwed.
RON PAUL 2012!!!!!
Posted by: David | January 18, 2012, 9:24 pm 9:24 pm
Ron Paul is right. It makes absolutely no sense.
Posted by: newcountryman | January 18, 2012, 9:34 pm 9:34 pm
I agree with Paul. Its time to cut back. If every citizen ran their life like the US Government does, everyone would be living under a bridge.
Posted by: Chaz Pacific | January 18, 2012, 10:05 pm 10:05 pm
considering his predictions about the housing bubble, the war in iraq, and the economy were all spot on, id say people aught to pay a bit of attention to this one
Posted by: Nick | January 18, 2012, 10:20 pm 10:20 pm
You know it would be kind of fun to put Congress and the President in front of Suzie Ormann and watch them get denied.
What do you wanna buy? 5,000,000 Social Progres, 100,000,000,000 Military Troops and Bases, 30,000,000 Welfare Checks, 40,000,000 Employees, etc. etc.
OK SHOW ME THE MONEY:
* Nothing in Savings
* 15 Trillion Dollars in Credit Card Debt
Posted by: PaulBotAndProud | January 18, 2012, 10:22 pm 10:22 pm
The old so called “stupid Man” called by main stream media and the clueless congress has been predicting this for the 15 years!
So either congress is really stupid or they are really greedy for 15-30 years only for personal gains.
Either way you look at our situation, it can be only one of these two reasons.
So America, why dont you want a change?
uhhh ?…I cant hear you, see today your voice doesn’t matter! Just like the voices for the last 15-30 years didn’t matter.
What matters is for you to call on your personal intellect, Vote for the One Man who has been saying the same thing all this time.
Vote Ron Paul for president 2012
Posted by: jonathan | January 19, 2012, 12:51 am 12:51 am
This isn’t America anymore so honestly it’s pointless to argue just let whatever you call this place fall and burn then we can all say we told you so and then we can march and takeover and rebuild it our way.The fact that you even have to beat any of RPs idea into peoples heads shows you how backwards we have become.The fact that someone has to actually say out loud that you can’t solve a debt problem by accumulating more debt is utterly mind boggling and shows you that graduating from harvard and Yale doesn’t mean you have an ounce of common sense.Welcome to the united states of china ladies and gentlemen.Let’s borrow money from china to fight wars so they can have the oil and mineral contracts.They own our military they are our bankers and what do you when you owe the bank trillions ??? WHATEVER THEY TELL YOU TO DO.Washington district of china.The hell with elections just march on dc and put Ron Paul in office by force enough is enough.
Posted by: Thomas | January 19, 2012, 4:20 am 4:20 am
It is important to add that he also went to introduce legislation to make 1042 of the NDAA invalid.
Posted by: RMD343 | January 19, 2012, 7:42 am 7:42 am
None of the other candidates (beside Paul), Obama, and 99 % (or higher) of the US population understand the negative effects of the Fed. Just look at Greece. Need I say more?
Posted by: deanbob | January 19, 2012, 7:52 am 7:52 am
People have become inured to discussions about the debt, but basically our plan is – because the debt is dollar denominated, we can devalue the debt by devaluing the dollar.
Yes, its true we have this out available, one that isn’t available to some countries that have debt that is not denominated in a currency they can print.
However, taking comfort in this option and using this comfort as an excuse to take on more debt – couldn’t be more foolhardy.
The reality is, devaluing the dollar is going to place the country in a world of pain – and the people hurt the most will be the people that don’t have hedges against inflation – the poor to the middle class.
Liberal’s especially should consider the fact that inflation is a regressive tax that largely strikes the poor…going down this path in the name of compassion – is absurd. You’ll accomplish the opposite – increased human misery.
Posted by: RockoT3000 | January 19, 2012, 10:38 am 10:38 am
People have become inured to discussions about the debt, but basically our plan is – because the debt is dollar denominated, we can devalue the debt by devaluing the dollar.
Yes, its true we have this out available, one that isn’t available to some countries that have debt that is not denominated in a currency they can print.
However, taking comfort in this option and using this comfort as an excuse to take on more debt – couldn’t be more foolhardy.
The reality is, devaluing the dollar is going to place the country in a world of pain – and the people hurt the most will be the people that don’t have hedges against inflation – the poor to the middle class.
Liberal’s especially should consider the fact that inflation is a regressive tax that largely strikes the poor…going down this path in the name of compassion – is absurd. You’ll accomplish the opposite – increased human misery.
Posted by: skadoo | January 19, 2012, 10:40 am 10:40 am
“If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand”- Milton Friedman
Posted by: Lizzie | January 19, 2012, 11:02 am 11:02 am
More chicken little cackling from old man Paul. Too bad the Republican Party is going to reject his arse yet again as their man to run for the White House. I’ll miss his crazy brand of medieval wishful thinking…
Posted by: A Cynic | January 19, 2012, 2:00 pm 2:00 pm
Ron Paul is the only man who can save America at this time and the only one who talks about what right is.
Unfortunately, democracy is not about being right but to have a power.
Posted by: Siniša | January 19, 2012, 3:14 pm 3:14 pm
Hey Obamamittsantorugingrich:
That Mayan calendar thing?
They wuz talkin’ bout YOU. Yo’ time be a runnin’ out.
Ron Paul, 2012.
Posted by: dom youngross | January 20, 2012, 3:17 am 3:17 am