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When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow … - Ron Paul
" "When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
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About Ron Paul
Ronald Ernest "Ron" Paul (born 20 August 1935) is an American author, activist, physician, and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, and then for Texas's 14th congressional district from 1997 to 2013. On three occasions, he sought the presidency of the United States: as the Libertarian Party nominee in 1988 and as a candidate for the Republican Party in 2008 and 2012. A self-described constitutionalist, Paul is a critic of the federal government's fiscal policies, especially the existence of the Federal Reserve and the tax policy, as well as the military–industrial complex, the war on drugs, and the war on terror. He has also been a vocal critic of mass surveillance policies such as the USA PATRIOT Act and the NSA surveillance programs. In 1976, Paul formed the Foundation for Rational Economics and Education (FREE), and in 1985 was named the first chairman of the conservative PAC Citizens for a Sound Economy, both free-market groups focused on limited government. He is the father of Senator Rand Paul.
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Ronald Ernest "Ron" Paul
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Ronald Ernest Paul
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Ronald Paul
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Additional quotes by Ron Paul
Ron Paul: ...you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizing debt. This is the real evil. The politicians spend for war, welfare, and they don't have to do it responsibly.
Question: When you say monetize the debt, you mean they would only be able to spend the cash that they had on hand. They couldn't write any cheques for which they don't have in their account any money? Ron Paul: That's right. And that is the key to it. Because when the Fed comes along, and there's starvation for capital and liquidity, and politicians are spending too much, the Fed can create 20, 30, 50 billion dollars in a day, just like they did trying to bail out this housing bubble crash. So they create money out of thin air endlessly, eventually that has to stop because that drives the value of the dollar down.
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Chris Wallace: You talk a lot about the Constitution. You say Social Security, Medicare, Medicaid are all unconstitutional.
Ron Paul: Technically, they are. … There’s no authority [in the Constitution]. Article I, Section 8 doesn't say I can set up an insurance program for people. What part of the Constitution are you getting it from? The liberals are the ones who use this General Welfare Clause. … That is such an extreme liberal viewpoint that has been mistaught in our schools for so long and that's what we have to reverse — that very notion that you're presenting.
Chris Wallace: Congressman, it's not just a liberal view. It was the decision of the Supreme Court in 1937 when they said that Social Security was constitutional under Article I, Section 8 of the Constitution.
Ron Paul: And the Constitution and the courts said slavery was legal, too, and we had to reverse that.
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