Ron Paul says John Boehner will fail with the deficit like Ronald Reagan failed

Ron Paul doesn't think House Speaker John A. Boehner's proposal to match any increase in the debt ceiling with an equal amount of spending cuts will work.

The Texas conservative, and presidential hopeful, points to none other than former President Ronald Reagan as proof that dollar-for-dollar debt cutting sounds fine but doesn't pan out in practice.

"Even in the '80s, when our good friend Ronald Reagan had a tax increase, which a lot of people forget about, he said he wanted two dollars of cuts for every dollar," Paul said in an interview for "Political Capital" with Bloomberg's Al Hunt.

"Nothing happened. The deficit exploded," Paul, 75, reminisced. "So do you think the American people are going to believe that we're going to cut in the future?"

In May, Boehner demanded $2 trillion in budget cuts in exchange for raising the government's debt ceiling. Many believe the cuts would take place over the next decade.

"You can't do $2 trillion just in cuts," Senate Majority Leader Harry Reid said last month in response to the speaker's demand. "There has to be a mix of spending cuts, including Defense. There has to be a more fair apportionment of tax policy in this country."

Rep. Paul is predicting financial ruin for the U.S. if Congress continues to ignore the past and keeps spending.

"The catastrophe comes regardless, because as long as they encourage more spending, then we go over a cliff," Paul said in the interview scheduled to air this weekend. "So I want to stop us."

RELATED:

Ron Paul of Texas wins CPAC presidential straw poll

Ron Paul tries to convince Iowa that he's mainstream

Trump on Ron Paul: 'He has no chance of getting elected'

-- Tony Pierce
twitter.com/busblog

Photo: Republican Texas Rep. Ron Paul on April 26, 2011 at the airport Holiday Inn in Des Moines, Iowa. Credit: Steve Pope/Getty Images

 

Comments

[powellg]

It's truly refreshing to hear Ron Paul. He is not one of the good ole' boys. He speaks his mind and is not afraid of the truth, even when it hurts. He has walked the walk consistently. I'm am tired of status quo, big gov't politicians who will say anything to get votes. They make me sick. I'm ready for a real President who will stand up for the Constitution and stand up to the special interests in Washington DC. Godspeed Dr. Paul.

[powellg]

It's truly refreshing to hear Ron Paul. He is not one of the good ole' boys. He speaks his mind and is not afraid of the truth, even when it hurts. He has walked the walk consistently. I'm am tired of status quo, big gov't politicians who will say anything to get votes. They make me sick. I'm ready for a real President who will stand up for the Constitution and stand up to the special interests in Washington DC. Godspeed Dr. Paul.

[Joe M]

He's right. Too bad people still won't listen. Maybe people will begin to believe as we sink into the second half of this double dip recession.

[Doug]

Finally, someone calls attention to the FACT that Ronald Reagan raised taxes. Now if we can get Palin to explain how he won the Cold War all by himself...with some help by Paul Revere, of course...

[AustrianSchool]

Ron Paul is the Real Deal. MoneyBomb coming this weekend. Vote for Ron Paul 2012!

[Duda]

This is why you can't trust Lawyers and the idiots in Washington. Dr. paul speaks the truth because he's not one of them. He never even thought he'd win into office way back when he started. It wasn't a priority for him to win. He just did it because he was interested. And that's the way it is now. He isn't trying to make loads of money or help out all his buddies. His buddies are everyone in the united states that get abused by those who abuse. He wants to stop all of that, and bring work back to America, by removing the things which destroy jobs and send our dollars overseas. No other politician can fix this but him because only he wants to.

[AngelaTC]

Reagan's mistake was agreeing to raise taxes in return for a promise of future spending cuts. Ron Paul is right. He won't be elected, which is too bad, because he's the only candidate that might possibly bring about real, significant change.

America would never move as far right as he would like, but if President Paul's only accomplishment were to be that of an anchor against this pervasive bipartisan drift to the left, America would be far better off for it.

[Bluegillmaster]

I won't make the mistake of voting for Obama again. I wish I would have known about Ron Paul in 2012.

[nader paul kucinich gravel mckinney baldwin]

Dr Ron was correct in 07-08
Are we all wide awake now ?

[Rafer Janders]

Nice one Andy, The ole, "Never speak ill of other Republican's" Love your Divide and Conquer tactic... Your bais transarency is awsome!!! I love the, 75 yrs old, Jeeze man.... You know he is right, there will not be a match in spending cuts, but they will raise the roof on the money coming in from China! I thought when you are a person that works in your field objectivety gives you credibility... I guess that is just part of the "American Dream" right? A guy that would end ONE TRILLION Dollars a year in unfunded spending... He is just not your cup of tea... Maybe Newt, or Robot Rommney..
keep setting em up and I will be here to knock them down... Unless... Dun Dun Dun... You ban me.... But Nah you would have did that in 2008, when your attacks were alot less subtle... Ron Paul 2012!!! Funny thing up a Revolution they keep turning and building momentum! Cheers!

[dougm_94]

We need a President Paul in 2012. He's the only one who isn't pandering for votes... just speaking the truth, even if it isn't popular.

Obama is intelligent, but too beholden to special interests to seriously bring down the deficit and our $14 Trillion national debt. Mitt Romney is even worse: status quo with an extra generous helping of flip-flop. Not to be trusted on any issue of importance.

If we re-elect Obama or go with Romney instead we're looking at a day of financial reckoning in our future. Without getting spending in check we'll be forced to default. Inflation will jump as the Fed pumps more and more dollars into the system in a failed attempt to staunch the bleeding. Purchasing power will diminish even as taxes and interest rates go up.

Our overseas military empire will come to a crashing halt, rather than an intelligent and planned withdrawal, as Paul is proposing. Promises made on Social Security and Medicare will be broken, as voters demand answers from pandering politicians who failed to avert a crisis and refused to take their oath to protect this country seriously. Already, they're going on record with their refusals to make serious cuts in spending.

The lower and middle classes will continue to get socked with the tax bill to pay for it all, just as they paid for the trillion dollar bailouts to corporations and big banks. Massive bailouts later, and the average citizen still can't get a loan. Those underwater in their mortgages have seen the value of their house move from the toilet down to a lower elevation in the septic tank.

All the bailouts and "quantitative easing" by the Fed haven't stimulated the creation of jobs, as we were promised it would surely do. The reason is because government can't create wealth. But innovative American companies can.

President Paul would let capitalism and the free market do what it does best: reward companies that best meet the needs of consumers, and let the others fail. The only entity that is "too big to fail" is the United States itself.. and status quo policies are steadily moving us in that direction. Consumer confidence is waning, as more and more Americans wake up to the reality that no amount of debt-financed "stimulus" is going to fix the economy, give them jobs, or make the value of their house increase.

But go ahead: vote for the status quo. Get more of the same if you like. It would be called "insanity", but it's still a free country. Continue to sow discord for political motivations and make subtle jokes about Paul's age. It is a good way to stir things up.

Or instead, appreciate the value we have in a statesman with a deeper understanding of economics and our Constitution than either Obama or Romney.

America needs a President Paul in 2012. Without him, the only change we can believe in will be whatever scraps the banksters toss our way as we stand jobless on the street corner wondering what happened to the country we used to know.

[rumblestrip]

I like Mr. Paul, but the idea that anybody as president would affect the oligarchy in a positive way is naive at best. Stock up on water, learn to shoot a bow & arrow, and learn how to butcher those fat kids next door...

[Quagmire]

I saw Robert Kennedy Jr last night and he talked a lot about installing about a true free market capitalism instead of the crony capitalism verging on fascism that the US has right now.

I didn't get to ask him what he thought of Ron Paul but I think he would agree on him on the economic issues that we are facing today.

[dont be a sucker]

dont ya just love how Lame-Stream-Media looooves to use any subtle tactic to discredit a person ?

here they say..."Paul,75..."...show me an article where they say..."Obama, 45..."..(whatever age he is)

The LSM knows that Ron Paul has got the goods, so they will use Americas facination with youth against him...It's done on both Left and Right media outlets; Oh yeah, our government doesn't control the media (right)..:roll eyes:

[Stephen McDougald]

Ron Paul is an inspiration, and as someone else said on here "he as walked the walk consitantly"

but i fear even some of his fans and supporters dont have as much faith in him as they should

this is it, this is our generations last chance for real change, we MUST USE THE INTERNET to keep this man's name alive, the internet has connected this country in a way that the feds cannot stop, its part of human evolution and part of the revolution

but WE have to make this happen

Please donate 34 dollars to his MONEY BOMB ON JUNE 5TH ; )

some guy on facebook had a plan that if the same amount of people that donated last time to raise an AMAZING 6 million in one day, we can reach our goal of 10 million if everyone makes a donation of 34 dollars : )

R O N P A U L 2012

End The Fed

[LarryB]

If anyone but Ron Paul or Gary Johnson is the Republican nominee to challenge Obama, I'll be voting third party. The two-party system has failed us. No matter whether it has been a Democrat or a Republican in the White House, the results have been the same...and they have been destructive for our country. Dr. Paul is one of the very few who has the guts and the vision to see outside of his narrow party lines. Had we had him in charge instead of Bush/Obama, this country would be in so much better shape. It may even be too late for Ron Paul to fix what the Democrats/Republicans have broken, but at least with him you know we are going to get change- change for the better!

[SC]

"Dr Ron was correct in 07-08
Are we all wide awake now ?"

Correction he was right in 02-03, and even earlier.

For example here is a speech he made to congress in 2002

http://paul.house.gov/index.php?option=com_content&task=view&id=323&Itemid=60

"Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans.

However, despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policies of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing."

There is much more where that came from to. Look through his previous speeches and statements and see how many things he talked about came true.

http://paul.house.gov/index.php?option=com_content&view=article&id=1007&Itemid=60

[charles]

why is the la times the only major contributer that i am finding a good dose of ron paul articles?

keep up the good work guys, maybe blue state california is coming around to....well not to be a red state cuz they are just as bad!

a ron paul state!

[Trudeau]

Yeah, People are glorifying Reagan, but he was no different than the Bushes, Clintons, Carter, Obama... Yes Cliton ran up debt even during the Dot Com Boom and sold it/stole money from the intra-government agency AKA Social Security.

They all run up Debt to buy re-election bids and campaign donations for the next round. Americans are such fools to see these charlatans and swindlers continue the paradox of stealing from all the people, to buy the people's votes with nonsense/ponzi programs and then stick the failures and debt on the very same taxpayers.

When you challenge the establishment system you're labeled a KOOK Central Planning and control are pure Soviet Style Communism that puts the masses in poverty. I know, I spent years defeating it in WARSAW PACT eastern Europe. How unfortunate these past 50 years has systematically destroyed the wealth of the people and consolidated the Faso-corporate racketeering between the conglomerates and Washington DC of ALL parties.

Boehner's latest cuts of $38 BILLION which turned out to be $300 million shows you these guys have no interest in fixing the system... just that their butts are covered when the monetary system collapses.

I hope Ron Paul succeeds... but is a huge uphill battle against the Money Masters and their owned Puppets inside the DC Beltway.

[banh]

If Andrew Malcolm is truly moving in Ron Paul's direction, kudos to him, for sure. There is no getting around the truth today in America. We have allowed through our collective ignorance (Red AND Blue!!) of the massive corruption in Federal, State and Local governments, our future and lifestyle to be co-opted and "re-constructed" to suit power- and money-hungry elitists. We are truly painted into a corner with slow drying paint, and unless we find our backbones and stand up to this corruption, we are as doomed in terms of freedom and "choice". All the peripheral rights we argue over are trumped by the BIGGIES we are about to lose..

Hey, Andrew Malcolm, if you keep exposing Ron Paul in a good or at least unbiased light, I will begin to follow your work and even encourage others to do so. It doesn't matter right now whether we're walking down the Left or Right side of the road, unless we stick together for 2012, we'll ALL be flattened by the WIDE LOAD dictatorship coming our way. It's time to lock arms and mow it down... like Ghandi did.

[flataffect]

He's not a serious candidate. And he usually the 1 in any 99-1 vote. I agree with him on some things, but wanting to be right rather than effective does not make for good leadership.

The GOP House leadership is afraid of being blamed for shutting down the government, but it may not work out that way in this case, since the Dems haven't offered a budget of their own and Obama's was voted down in a bipartisan vote. Furthermore, Pelosi and Reid are the bullheaded team who foisted these huge deficits and the ballooning debt on us. I want them to press it.

Maybe they should tell Obama that the next round of negotiations will be lead by Ron Paul.

[joe]

Oh no folks .. Ron PAUL can and will win in 2012. The mainstream media in print and TV can't keep him down this time. Ron PAUL is the only guy whom speaks the truth. Romney is a joke. What's up with FAUX news tonight? Is it a Romney fest?

[fenchel]

America has 326,000 troops stationed overseas. China has 1,986. Ron Paul should capitalize on such a statistic to force congress to bring our troops home. There is no reason for the USA to have ANY troops stationed ANYWHERE overseas.

Secondly, he should push hard for the USA to quit both the UN & NATO. Neither of these belly-up institutions any longer deserve our support.

Finally, the US dollar is on the verge of losing its status as the world's "reserve currency". When that happens, all Hell will break loose in the USA with significant devaluations of our currency and hyper-inflation. Most assets for Americans will be totally wiped out. Geithner would have you believe otherwise but he's blowing smoke all over the place so as to save his own butt.

There is no announced democrat or republican candidate other than Ron Paul who has a total grasp on this situation. I only wish Ron Paul was running as a Libertarian but, maybe, he believes he can pull more votes as a republican. If he loses the nomination, he should run as a Libertarian.

[GSG]

Exactly whose pocket is the LA Times in?

[Jana]

The only one that has common sense and integrity .Very important. We don't need lawyers running our country for the corporations we need the constitution to be withheld. Go Ron Paul 2012 . You have my vote . Vote Ron Paul 2012

[dougm_94]

Someone else commented and I agree: democrat republican independent black white brown yellow jewish catholic we are ALL facing some deep financial s~@t with this debt that has grown beyond our creditors willingness to support.

The FED keeps printing, jobs keep disappearing housing keeps sinking. we're going into a double dip recession but really we never left the last one, the government just masked it with "stimulus" from borrowed money.

If we raise the debt ceiling again it will signal that default is inevitable because we can't get spending under control. it will be a depression because the government will have used up all its magic tricks and is by now extremely overleveraged.

For god's sake people wake up. Paul is the only GOP candidate with a clear understanding of what is happening to our economy. this isn't a partisan issue anymore. We as Americans are in the same boat. let's do what we can to make sure it's not the Titanic.

[mike]

"We need to understand the more government spends, the more freedom is lost...Instead of simply debating spending levels, we ought to be debating whether the departments, agencies, and programs funded by the budget should exist at all."
— Ron Paul

Ron Paul!!! 2012...Don't Fear Freedom!!!!
Please check this cat out!!!! Dr. Paul!!!
I Want my country back!!!!! Damm it!!!