Carolina QuotesNeil Cavuto: Yeah but, you can't, Congressman, we've got a pretty good economy going here, right? We've got productivity soaring. We've got retail sales that are strong. We've got corporate earnings that for, what, the 19th quarter, are up double digit? We've got a market chasing highs, I mean, this isn't happening in a vacuum, right? Ron Paul: Yeah, that's nice, but when you have to borrow, you know... My personal finances would be very good if I borrowed a million dollars every month. But, someday, the bills will become due. And the bills will come due in this country, and then we'll have to pay for it. We can't afford this war, and we can't afford the entitlement system. Neil Cavuto: Look, Congressman, did you say this 10 years ago, when the numbers were similarly strong... Ron Paul: Go back and check. Neil Cavuto: ...and we were still borrowing a good deal then. Ron Paul: That's right, that means the dollar bubble is much bigger than ever. Neil Cavuto: So what's gonna happen? Ron Paul: We've had the NASDAQ bubble collapse already. We have the housing bubble in the middle of a collapse, so the dollar bubble will collapse as well. We have to live within our means. You can't print money out of the blue, and think you can print your money into prosperity.
Ron Paul Connected to the Carolinas
Source
Your World with Neil Cavuto, FOX News, May 15, 2007 [http://www.youtube.com/watch?v=MU2RK0TNbXk
- work
- 2006-2009
- year
- 2006
Cite this record
“Neil Cavuto: Yeah but, you can't, Congressman, we've got a p…” Ron Paul. Carolina Quotes, record CQ-1CD5F6118F. https://carolinaquotes.com/quote/1cd5f6118f
More from Ron Paul
Certainly the Patriot Act would have never been passed, because it wasn't available to us... It was almost 400 pages long, and became available less than an hour before it was debated on the House floor... The congressmembers were intimidated, "if I do nothing, my people gonna be mad, because they want us to do something". And the people are frightened. When they are frightened, they are much more willing to give us their liberties. But giving up their liberties won't make them safer, that's the real sad part of it.
You can't have a government like this without an income tax, but we don't want a government like this. This is not the type of government that was designed by the founders of the country. This is not what was written in the Constitution. We've only had an income tax since 1913. But if you want a welfare state, and if you want to police the world and pay for the defense of Japan and Germany, give foreign aid to the Soviet Union. You not only need the income tax you need the Federal Reserve to print up the money when the deficit is accumulated. So we think that government should be smaller. If government is small, then you don't need the income tax.
Question: If you could pick one cause that has gotten us here, what'd you say it is? Ron Paul: Easy money. The Federal Reserve artificially lowering interest rates, deceiving the people, the investors, the savers, into believing that there's a lot of savings out there, and that we should invest more, build more houses, more cars. It's the malinvestment, which is every bit as dangerous, from the inflation of the money supply, as is the high prices that usually come.