U.S. Rep. Ron Paul | austerity |
austerity
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at a 12% level in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear weapons. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little to talk about as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
austerity
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at or approaching 12% in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear sabers. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family-oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little room to talk as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
austerity
Manipulating Interest Rates
May 15, 2000 2000 Ron Paul 36:5
* The silly notion that money can be created at will by a printing press or through computer entries is eagerly accepted by the majority as an easy road to riches, while ignoring any need for austerity, hard work, saving, and a truly free market economy. Those who actively endorse this system equate money creation with wealth creation and see it as a panacea for the inherent political difficulty in raising taxes or cutting spending.
austerity
Counting on Social Security?
17 February 2003 Texas Straight Talk 17 February 2003 verse 3 ... Cached
Still, the problem seems vague and faraway for most. Today’s seniors hope the system will hold together for the remainder of their lives, while younger working people hope government will somehow fix things before they retire. Not surprisingly, Congress doesn’t want to face the problem until it becomes an acute crisis. It’s hard to sell voters on austerity today to avoid a relatively distant problem. Politicians usually operate on the opposite principle, by promising great things now and leaving the bills for others to pay later.
austerity
The 2003 Spending Orgy
03 March 2003 Texas Straight Talk 03 March 2003 verse 3 ... Cached
Yet has Congress responded to this new reality with spending freezes or other austerity measures? Hardly. Its response has been exactly opposite, passing a 2003 budget that is a whopping 22% higher than just two years ago! Not only is spending way up in terms of total dollars, but the rate at which spending grows each year is accelerating rapidly. In fact, a federal budget that once took a century to double in size will now do so in only about five years. This rate of growth cannot be sustained unless Congress truly intends to bankrupt the federal government.
austerity
Spending and Lying
02 February 2004 Texas Straight Talk 02 February 2004 verse 8 ... Cached
Government is incapable of austerity measures for a very simple reason: the money it spends belongs to others. Unless and until federal politicians are voted out of office for their sins, we can only expect the spending, borrowing, taxing, and printing of fiat money to continue.
austerity
The Federal Reserve Debt Engine
26 April 2004 Texas Straight Talk 26 April 2004 verse 6 ... Cached
During past recessions, many Americans shed debt either through bankruptcy or through austerity measures. In other words, they either changed their spending and borrowing habits or went broke. At some point their debts were in essence cleared from the books. In the recent recession of 2000-2002, however, many cash-strapped households managed to stay ahead of creditors by borrowing even more money. This is directly attributable to Fed easy-money policies, which greatly expanded the money supply and caused banks to lower creditworthiness standards. As a result, many Americans are overextended rather than bankrupt. Someday, however, they simply won’t be able to borrow another dime. All the Fed has done is make the bubble bigger and postpone the day of reckoning. This hardly makes for a strong economy, which must be based on savings and investment.
austerity
Social Security: House of Cards
08 November 2004 Texas Straight Talk 08 November 2004 verse 5 ... Cached
Seniors hope the system will hold together for the remainder of their lives, while younger working people hope government will somehow fix things before they retire. Not surprisingly, Congress has chosen to ignore the problem until it becomes acute. It’s hard to sell voters on austerity today to avoid a relatively distant crisis. Politicians usually operate on the opposite principle, by promising great things now and leaving the bills for others to pay later.
austerity
Deficit Spending and Social Security
09 October 2006 Texas Straight Talk 09 October 2006 verse 4 ... Cached
Still, the problem seems vague and faraway for most. Today’s seniors hope the system will hold together for the remainder of their lives, while younger working people hope government will somehow fix things before they retire. Not surprisingly, Congress doesn’t want to face the problem until it becomes an acute crisis. It’s hard to sell voters on austerity today to avoid a relatively distant problem. Politicians usually operate on the opposite principle, by promising great things now and leaving the bills for others to pay later.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.