U.S. Rep. Ron Paul | finance |
finance
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:9
Of these three issues, there is a common thread. When we think about the scandals, we talk about international finance, a large amount of dollars flowing into this country to influence our elections and possibly play a role in our foreign policy.
finance
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:10
Also, the IMF, which has to do with international finance, the IMF is under the United Nations and therefore it gets a lot of attention and we are asked to appropriate $18 billion.
finance
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:74
Well, that to me is the wrong way to go. If we are involved in internationalism, where international financing now is influencing our presidential election, if international finances demand that we take more money from the American taxpayers and bail out southeast Asian countries through the IMF and that we are willing to have our young men and women be exposed to war conditions and to allow them to go to war mainly under a U.N. resolution and a token endorsement by the Congress, I think this is the wrong way to go.
finance
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:15
Effort to prop up an ailing economy after the financial bubble has been popped, prolongs the agony and increases the severity of the correction. Japan’s bubble burst in 1989 and there is not yet any sign of the cleansing of the system of bad debt and mal-investment which is necessary before sound growth will resume. And Indonesia is embarking on the same predictable course. Restoration of free markets, and establishing sound monetary policy has not yet been considered. The people of Indonesia and the rest of the world should prepare for the worst as this crisis spreads. For Congress, the most important thing is to forget the notion that further taxing American workers to finance a bail-out, that won’t work, is the worst policy of all for us to pursue.
finance
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:15
Effort to prop up an ailing economy after the financial bubble has been popped, prolongs the agony and increases the severity of the correction. Japan’s bubble burst in 1989, and there is not yet any sign of the cleansing of the system of bad debt and mal-investment which is necessary before sound growth will resume. And Indonesia is embarking on the same predictable course. Restoration of free markets, including the establishment of a sound monetary policy, has not yet been considered. The people of Indonesia and the rest of the world should prepare for the worst as this crisis spreads. For Congress, the most important thing is to forget the notion that further taxing American workers to finance a bail-out will work. It won’t work — it is the worst policy of all for us to pursue.
finance
Campaign Finance Reform
16 June 1998 1998 Ron Paul 59:1
Mr. PAUL. Mr. Speaker, campaign finance reform has been a major topic for months on the House floor and, I understand, will continue to be a major debate. The last time the Congress has passed any major reforms dealing with campaigning was in the 1970s, and every problem that we had back then we have today, only it is much worse. Today, in order to comply with the law, we fill out tens of thousands of pages of forms, there is total misunderstanding of what the rules and regulations are, there are numerous fines being levied against many Members and many candidates, there are many inaccuracies put into the record mainly because a lot of people cannot even understand the rules and regulations, and I would not be surprised if just about everybody who ever filled out a financial reform at one time or the other inadvertently had some inaccuracies. All the challenges to these records have always been done by opponents and usually politicized, and it has not been motivated for the best of reasons.
finance
Parent And Student Saving Account Act
18 June 1998 1998 Ron Paul 62:13
This bill also creates a new federal program to use federal taxpayer funds to finance teacher testing and merit pay. Mr. Speaker, these may be valuable education reforms; however, the federal government should not be in the business of education engineering and using federal funds to encourage states to adopt a particular education program.
finance
Campaign Finance Reform
23 June 1998 1998 Ron Paul 64:1
Mr. PAUL. Mr. Speaker, in recent months there has been a lot of discussion on the House floor dealing with campaign finance reform.
finance
Campaign Finance Reform
23 June 1998 1998 Ron Paul 64:3
I suspect we will be talking about campaign finance reform for a couple more months. I see this somewhat differently than others. Others see that all we have to do is regulate the money and we are going to solve all our problems. But all governments are prone to be influenced by special interests. That is the nature of government.
finance
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:12
None. Certainly, the deterioration of the American balance-of-payments position doesn’t bode well for the dollar’s long-term exchange rate. Consuming more than it produces, the United States must finance the shortfall. And it is privileged to be able to pay its overseas bills with dollars, the currency that it alone can legally produce. Thailand would be a richer country today if the world would accept baht, and nothing but baht, in exchange for goods and services. It won’t, of course. America and the dollar are uniquely blessed.
finance
Issue Ads
14 July 1998 1998 Ron Paul 67:6
There is a tremendous incentive to send all this money up here. Unless we deal with the incentive, we cannot deal with the problem. So, so far, almost all the talk that we have heard on this campaign finance reform is dealing with the symptom. The cause is Government is too big. Government is so big there is a tremendous incentive for people to invest this money. So as long as we do not deal with that problem, we are going to see a tremendous amount of money involved.
finance
Women’s, Infant, and Children’s Program
20 July 1998 1998 Ron Paul 81:9
The main reason supporters of a free and moral society must oppose this bill is because federal welfare programs crowd out the more efficient private charities for two reasons. First, the taxes imposed on the American people in order to finance these programs leave taxpayers with fewer resources to devote to private charity. Secondly, the welfare state erodes the ethic of charitable responsibility as citizens view aiding the poor as the government’s role, rather than a moral obligation of the individual.
finance
Hedge Fund Bailout
2 October 1998 1998 Ron Paul 105:2
STATEMENT OF HON. GREG KAZA, MICHIGAN STATE REPRESENTATIVE, ADJUNCT PROFESSOR OF FINANCE, WALSH COLLEGE Derivatives are financial instruments broadly defined as any contract or convertible security that changes in value in concert with a related or underlying security, fixed-income instrument, future or other instrument, currency or index; or that obtains much of its value from price movements in a related or underlying instrument; or an option, swap, warrant, or debt instrument with one or more options embedded in or attached to it, the value of which contract or security is determined in whole or in part by the price of one or more underlying instruments or markets.
finance
Medicare Home Health And Veterans Health Care Improvement Act Of 1998
9 October 1998 1998 Ron Paul 118:7
Instead of raising taxes Congress should “offset” these programs by cutting spending in other areas. In particular, Congress should finance veterans health care by reducing expenditures wasted on global adventurism, such as the Bosnia mission. Congress should stop spending Americans blood and treasure to intervene in quarrels that do not concern the American people.
finance
Medicare Home Health And Veterans Health Care Improvement Act Of 1998
9 October 1998 1998 Ron Paul 118:8
Similarly, Congress should seek funds for an increased expenditure on home care by ending federal support for institutions such as the International Monetary Fund (IMF), which benefit wealthy bankers and powerful interests but not the American people. At a time when the federal government continues to grow to historic heights and meddles in every facet of American life I cannot believe that Congress cannot find expenditure cuts to finance the programs in this bill!
finance
Medicare Home Health And Veterans Health Care Improvement Act Of 1998
9 October 1998 1998 Ron Paul 118:10
In conclusion, Mr. Speaker, I call upon this Congress to reject this bill and instead support an IPS reform that is fair to all home care providers and does not finance worthwhile changes in Medicare by raising taxes. Instead, Congress should offset the cost to these worthy programs by cutting programs that do not benefit the American people.
finance
Congress Relinquishing The Power To Wage War
2 February 1999 1999 Ron Paul 4:92
Too often the American people have chosen security over liberty. Allowing the President a little authority to deal with world problems under a U.N. banner has been easier than reversing the trend of the past 50 years. Accepting the financial bubble when on the short run, it helps everyone’s portfolio, helps to finance government spending, is easy, even if it only delays the day of reckoning when the bills come due, as they already have in so many other countries in the world.
finance
Introducing The Family Education Freedom Act
2 March 1999 1999 Ron Paul 11:7
The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Although public schools are traditionally financed through local taxes, increasingly, parents who wish their children to receive a quality education may wish to use their credit to improve their schools by helping financing the purchase of educational tools such as computers or extra-curricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services for their children.
finance
War Power Authority Should Be Returned To Congress
9 March 1999 1999 Ron Paul 13:7
Some claim that the Kosovo involvement must be clarified as to where the money will come to finance it, the surplus or Social Security. This misses the point. We have and should exert the power of the purse, but a political argument over surpluses versus Social Security is hardly the issue.
finance
Crisis in Kosovo
14 April 1999 1999 Ron Paul 25:2
A legal war in this country is one that is declared, declared by the Congress. Any other war is illegal. The war in Yugoslavia now pursued by our administration and with NATO is both immoral and illegal and it should not be pursued. We will be soon voting on an appropriation, probably next week. There may be a request for $5 billion to pursue the war in Yugoslavia. I do not believe that we should continue to finance a war that is both immoral and illegal.
finance
Why Taxes Are High
15 April 1999 1999 Ron Paul 27:4
This is a token effort to move in the right direction of eliminating taxes. Big government is financed in three different ways. First, we borrow money. Borrowing is legal under the Constitution, although that was debated at the Constitutional Convention, and the Jeffersonians lost. Someday we should deal with that. We should not be able to borrow to finance big government.
finance
Why Taxes Are High
15 April 1999 1999 Ron Paul 27:5
Something that we do here in Washington which is also unconstitutional is to inflate the currency to pay for debt. Last year the Federal Reserve bought Treasury debt to the tune of $43 billion. This helps finance big government. This is illegal, unconstitutional, and is damaging to our economy.
finance
Campaign Finance Reform
14 June 1999 1999 Ron Paul 58:1
Mr. PAUL. Mr. Speaker, campaign finance reform is once again being painted as the solution to political corruption in Washington. Indeed, that is a problem, but today’s reformers hardly offer a solution. The real problem is that government has too much influence over our economy and lives, creating tremendous incentive to protect one’s own interest by investing in politicians.
finance
Campaign Finance Reform
14 June 1999 1999 Ron Paul 58:2
The problem is not a lack of Federal laws or rules regulating campaign spending. Therefore, more laws will not help. We hardly suffer from too much freedom. Any effort to solve the campaign finance problem with more laws will only make things worse by further undermining the principles of liberty and private property ownership.
finance
Campaign Finance Reform
14 June 1999 1999 Ron Paul 58:6
The reformers’ argument is to stop us before we capitulate and before we capitulate to the special interest groups. Politicians unable to accept this responsibility clamor for a system that diminishes the need for politicians to persuade individuals and groups to donate money to their campaigns. Instead of persuasion, they endorse coercing taxpayers to finance campaigns. This only changes the special interest groups that control government policy. Instead of voluntary groups making their own decisions with their own money, politicians and bureaucrats dictate how political campaigns will be financed and run.
finance
Campaign Finance Reform
14 June 1999 1999 Ron Paul 58:14
Campaign finance reform is once again being painted as the solution to political corruption in Washington. Indeed, that is a problem, but today’s reformers hardly offer a solution. The real problem is that government has too much influence over our economy and lives, creating a tremendous incentive to protect one’s own interests by “investing” in politicians. The problem is not a lack of federal laws, or rules regulating campaign spending, therefore more laws won’t help. We hardly suffer from too much freedom. Any effort to solve the campaign finance problem with more laws will only make things worse by further undermining the principles of liberty and private property ownership.
finance
Campaign Finance Reform
14 June 1999 1999 Ron Paul 58:20
Politicians unable to accept this responsibility clamor for a system that diminishes the need for politicians to persuade individuals and groups to donate money to their campaign. Instead of persuasion they endorse coercing taxpayers to finance campaigns. This only changes the special interest groups that control government policy. Instead of voluntary groups making their own decisions with their own money, politicians and bureaucrats dictate how political campaigns will be financed.
finance
Africa Growth And Opportunity Act
16 July 1999 1999 Ron Paul 77:6
The Vietnam Waiver vote classification as a pro-free trade position is particularly indicative, however, of what now constitutes free trade in the alleged minds of the beltway elite. When government forces through taxation, citizens to forego consumption of their own choosing (in other words forego voluntary exchanges) so that government can send money to foreign entities (i.e. trade promotion), this in the mind of Washington insiders constitutes “free trade.” In other words, when demand curves facing the corporate elite are less than those desired, government’s help is then enlisted to shift the demand curve by forcing taxpayers to send money to various government and private entities whose spending patterns more favorably reflect those desired by those “engineering” such “free trade” policies in Washington. Much like tax cuts being a “cost to government” and “free trade associations” whose purpose it is to erect barriers, free trade has become government-coerced, taxpayer-financed foreign aid designed to result in specific private spending and private gains.
finance
Campaign Finance Reform
14 September 1999 1999 Ron Paul 97:1
Mr. PAUL. Mr. Chairman, campaign finance reform is once again being painted as the solution to political corruption in Washington. Indeed, political corruption is a problem, but today’s reformers hardly offer a solution. The real problem is that government has too much influence over our economy and lives, creating a tremendous incentive to protect one’s own interests by ‘investing’ in politicians. The problem is not a lack of federal laws, or rules regulating campaign spending, therefore more laws won’t help. We hardly suffer from too much freedom. Any effort to solve the campaign finance problem with more laws will only make things worse by further undermining the principles of liberty and private property ownership.
finance
Campaign Finance Reform
14 September 1999 1999 Ron Paul 97:7
Politicians unable to accept this responsibility clamor for a system that diminishes the need for politicians to persuade individuals and groups to donate money to their campaign. Instead of persuasion they endorse coercing taxpayers to finance campaigns.
finance
Campaign Finance Reform
14 September 1999 1999 Ron Paul 97:8
This only changes the special interest groups that control government policy. Instead of voluntary groups making their own decisions with their own money, politicians and bureaucrats dictate how political campaigns will be financed. Not only will politicians and bureaucrats gain influence over elections, other nondeservers will benefit. Clearly, incumbents will greatly benefit by more controls over campaign spending — a benefit to which the reformers will never admit.
finance
Campaign Finance Reform
14 September 1999 1999 Ron Paul 97:13
Additionally, the legislative debate over campaign finance reform has seemingly focused upon the First Amendment guarantee of freedom of speech, as interpreted and applied by the courts. The constitutional issues, however, are not limited to the First Amendment. To the contrary, pursuant to their oaths of office, members of Congress have an independent duty to determine the constitutionality of legislation before it and to decide, before ever reaching the First Amendment, whether they have been vested by the Constitution with any authority, at all, to regulate federal election campaigns. Congress has no authority except that which is “granted” in the Constitution. Thus, the threshold question concerning H.R. 417 is whether the Constitution has conferred upon Congress any authority to regular federal election campaigns. The authority to regulate such campaigns is not found among any enumerated power conferred upon Congress.
finance
Academic Achievement for All Students Freedom and Accountability Act (STRAIGHT “A’s”)
21 October 1999 1999 Ron Paul 109:8
When parents control the education dollar, schools must be responsive to parental demands that their children receive first-class educations, otherwise, parents will find alternative means to educate their children. Furthermore, parents whose children are in public schools may use their credit to improve their schools by helping to finance the purchase of educational tools such as computers or extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services for their children.
finance
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:40
Not only have we seen little resistance to the current high tax system, it has become an acceptable notion that this system is moral and is a justified requirement to finance the welfare/ warfare state.
finance
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:58
No one asked where the Government gets the money to finance the welfare state. Is it morally right to do so? Is it authorized in the Constitution? Does it help anyone in the long run? Who suffers from the policy? Until these questions are seriously asked and correctly answered, we cannot expect the march toward a pervasive welfare state to stop and we can expect our liberties to be continuously compromised.
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A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:65
No wonder lobbyists are willing to spend $125 million per month influencing Congress; it is a good investment. No amount of campaign finance reform or regulation of lobbyists can deal with this problem. The problem lies in the now accepted role for our Government. Government has too much control over people and the market, making the temptation and incentive to influence government irresistible and, to a degree, necessary.
finance
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:83
Government housing programs are no more successful than the Federal Government’s medical and education programs. In the early part of this century, government housing was virtually unheard of. Now the HUD budget commands over $30 billion each year and increases every year. Finances of mortgages through the Federal Home Loan Bank, the largest Federal Government borrower, is the key financial institution pumping in hundreds of billions of dollars of credit into the housing market, making things worse. The Federal Reserve has now started to use home mortgage securities for monetizing debt. Public housing has a reputation for being a refuge for drugs, crimes and filth, with the projects being torn down as routinely as they are built. There is every indication that this entitlement will continue to expand in size regardless of its failures. Token local control over these expenditures will do nothing to solve the problem.
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A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:102
Likewise, financing the welfare state would have progressed much slower if our deficits could not have been financed by an accommodative Central Bank willing to inflate the money supply at will.
finance
A Republic, If You Can Keep It – Part 2
2 February 2000 2000 Ron Paul 5:26
If the location of the fetus is the justification for legalized killing, the privacy of our homes would permit the killing of the newborn, the deformed and the elderly, a direction, unfortunately, in which we find ourselves going. As government-financed medical care increases, we will hear more economic arguments for euthanasia, that is, mercy killing, for the benefit of the budget planners. Already we hear these economic arguments for killing the elderly and terminally ill.
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A Republic, If You Can Keep It – Part 2
2 February 2000 2000 Ron Paul 5:132
Some who are every bit as concerned as I am about our future and the pervasive corrupt influence in our Government in every aspect of our lives offer other solutions. Some say to solve the problem all we have to do is write more detailed laws dealing with campaign finance reform, ignoring how this might undermine the principles of liberty. Similarly, others argue that what is needed is merely to place tighter restrictions on the lobbyists in order to minimize their influence. But they fail to realize this undermines our constitutional right to petition our Government for redress of grievances.
finance
ON INTRODUCTION OF THE PHARMACEUTICAL FREEDOM ACT OF 2000
February 10, 2000 2000 Ron Paul 6:2
* The first provision of my legislation provides seniors a tax credit equal to 80 percent of their prescription drug costs. As many of my colleagues have pointed out, our nation’s seniors are struggling to afford the prescription drugs they need in order to maintain an active and healthy lifestyle. Yet, the Federal Government continues to impose taxes on Social Security benefits and limits senior citizens’ ability to earn additional income by reducing Social Security benefits if a senior exceeds the ‘earnings limitation.’ Meanwhile, Congress continually raids the Social Security trust fund to finance unconstitutional programs! It is long past time for Congress to choose between helping seniors afford medicine or using the Social Security trust fund as a slush fund for big government and pork-barrel spending.
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PRAISING PARENTS AND TEACHERS DURING TEXAS PUBLIC SCHOOLS WEEK
March 9, 2000 2000 Ron Paul 16:6
* The “Family Education Freedom Act” will help parents who send their children to public schools strengthen their child’s public education. Parents may use the credit to improve schools by helping to finance the purchase of education tools such as computers or extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services for their children.
finance
WHAT IS FREE TRADE?
May 2, 2000 2000 Ron Paul 29:45
So these were the founders talking about this, and yet we have drifted a long way. It does not happen overnight. It has been over a 50-year period. Five years ago we went one step further. First we accepted the idea that international finance would be regulated by the IMF. Then we accepted the idea that the World Bank, which was supposed to help the poor people of the world and redistribute wealth, they have redistributed a lot of wealth, but most of it ended up in the hands of wealthy individuals and wealthy politicians. But the poor people of the world never get helped by these programs. Now, 5 years ago we have accepted the notion that the World Trade Organization will bring about order in trade around the country.
finance
WHAT IS FREE TRADE?
May 2, 2000 2000 Ron Paul 29:46
Well, since that time we have had a peso crisis in Mexico and we had a crisis with currencies in Southeast Asia. So I would say that the management of finances with the IMF as well as the World Trade Organization has been very unsuccessful, and even if one does not accept my constitutional argument that we should not be doing this, we should at least consider the fact that what we are doing is not very successful.
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TEXAS HOME SCHOOL APPRECIATION WEEK
May 4, 2000 2000 Ron Paul 32:6
* The Family Education Freedom Act will also benefit those parents who choose to send their children to public or private schools. Parents who choose to send their children to private school may use their tax credit to help cover the cost of tuition. Parents who choose to send their children to public schools may use their tax credit to help finance the purchase of educational tools such as computers or extracurricular activities like music programs. Parents may also use the credit to pay for tutoring and other special services for their children.
finance
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:1
* Fiat money, that is, money created out of thin air, causes numerous problems, internationally as well as domestic. It causes domestic price inflation, economic downturns, unemployment, excessive debt, (corporate, personal and government) mal-investment, and over capacity — all very serious and poorly understood by our officials. But fluctuating values of various paper currencies cause all kinds of disruptions in international trade and finance as well.
finance
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:9
* By inflating our currency, we can then spend our dollars overseas getting products at good prices which on the short run raises our standard of living - but, on borrowed money. All currency account deficits must be financed by borrowing from abroad.
finance
Permanent Normal Trade Relations
May 24, 2000 2000 Ron Paul 40:7
* Mr. Speaker, I say no to this taxpayer-financed fanfare of ‘free trade’ which fosters the opposite of genuine freedom of exchange and urge by colleagues to do the same.
finance
Social Security Tax Relief Act
27 July 2000 2000 Ron Paul 67:3
Because Social Security benefits are financed with tax dollars, taxing these benefits is yet another incidence of “double taxation.” Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a “shell game” which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs and mask the true size of the federal deficit.
finance
Social Security Benefits Tax Relief Act Of 2000
27 July 2000 2000 Ron Paul 68:3
Because Social Security benefits are financed with tax dollars, taxing these benefits is yet another incidence of “double taxation.” Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a “shell game” which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs and mask the true size of the federal deficit.
finance
Minding Our Own Business Regarding Colombia Is In The Best Interest Of America
September 6, 2000 2000 Ron Paul 69:6
Our policy, unless quickly and thoroughly reversed, will surely force an escalation of the civil war and a dangerous increase in our involvement with both dollars and troops. All this will further heighten the need for drug sales to finance all factions of the civil war. So much for stopping the drug war.
finance
Child Support Distribution Act Of 2000
September 7, 2000 2000 Ron Paul 71:2
* I am particularly disturbed by the language expanding the use of the National Directory of New Hires, popularly known as the ‘new hires database’, in order to more effectively administer the unemployment compensation system and deny visas and residency to non-citizens who are delinquent in child support payments. Identifying persons who are failing to fulfill their legal obligation to pay child support is a worthy goal, as an OB-GYN who has delivered over four thousand babies in my over thirty year medical career, words cannot express the contempt I hold for those who would refuse to support their children. Similarly, preventing fraud in the unemployment program is obviously important to the nation’s employers and employees whose taxes finance the unemployment insurance system.
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SOCIAL SECURITY TAX RELIEF ACT
7 September 2000 2000 Ron Paul 72:3
* Because Social Security benefits are financed with tax dollars, taxing these benefits is yet another incidence of ‘double taxation.’ Furthermore, ‘taxing’ benefits paid by the government is merely an accounting trick, a ‘shell game’ which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs and mask the true size of the federal deficit.
finance
SOCIAL SECURITY BENEFITS TAX RELIEF ACT OF 2000
September 14, 2000 2000 Ron Paul 76:3
* Because Social Security benefits are financed with tax dollars, taxing these benefits is yet another incidence of ‘double taxation.’ Furthermore, ‘taxing’ benefits paid by the government is merely an accounting trick, a ‘shell game’ which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs and mask the true size of the federal deficit.
finance
INTRODUCTION OF THE ESSENTIAL RURAL HOSPITAL PRESERVATION ACT
September 20, 2000 2000 Ron Paul 78:2
* I believe I can speak for all of my colleagues when I say that while none of us want to endanger the Medicare trust fund, we also want to ensure that Medicare reforms do not drive valuable health care providers into bankruptcy. After all, denying Medicare recipients in rural areas access to quality health care breaks the promise the government makes to the American people when it requires them to pay taxes to finance the Medicare trust fund that they will receive quality health care in their golden years.
finance
Congratulating Home Educators And Home Schooled Students
September 26, 2000 2000 Ron Paul 81:6
* The Family Education Freedom Act will also benefit those parents who choose to send their children to public or private schools. Parents who choose to send their children to private school may use their tax credit to help cover the cost of tuition. Parents who choose to send their children to public schools may use their tax credit to help finance the purchase of educational tools such as computers or extracurricular activities like music programs. Parents may also use the credit to pay for tutoring and other special services for their children.
finance
WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY
October 12, 2000 2000 Ron Paul 86:3
Yesterday, I talked a bit about what I see as a financial bubble that has developed over the past decade and made the point that a financial bubble can be financed through borrowing money, as well as inflation. A financial bubble is essentially a consequence of inflation. A lot of people talk about inflation being the mere rising of some prices, but that is not the case.
finance
WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY
October 12, 2000 2000 Ron Paul 86:15
Where did we borrow from? We borrowed from overseas. We have a current account deficit that requires over a billion dollars a day that we borrow from foreigners just to finance our current account deficit. We are now the greatest debtor in the world, and that is a problem. This is why the markets are shaky, and this is why the markets have been going down for 6 months, and this is why in a foreign policy crisis such as we are facing in the Middle East, we will accentuate these problems. Therefore, the foreign policy of military interventionism overseas is something that we should seriously question.
finance
OLDER AMERICANS ACT AMENDMENTS OF 2000
October 24, 2000 2000 Ron Paul 90:5
* There are ways to ensure that seniors have opportunities for productive lives without violating the constitution and politicizing charity. One way is to repeal the social security earnings limit, which punishes seniors who continue to work in the private sector. Another way is through generous tax credits and deductions for taxpayers who support charitable organization designed to provide services to individuals. Finally, the best way to aide the nation’s seniors, and those who are about to be seniors, is to stop raiding the nation’s social security system to finance other unconstitutional programs. This is why the first piece of legislation I introduced this year was The Social Security Preservation Act (H.R. 219), which would ensure that social security monies would be spent on social security. I was also a cosponsor of the legislation to end the earnings limit, which passed the House of Representatives this year. I am also cosponsoring several pieces of legislation to allow people to use more of their own resources to help the needy by expanding the charitable tax deduction.
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NATIONAL SCIENCE EDUCATION ACT
October 25, 2000 2000 Ron Paul 91:5
* In order to put education resources back into the hands of the American people I have introduced the Family Education Freedom Act (H.R. 935). This act provides a $3,000 per child tax credit for parents to help cover K-12 education expenses. I have also introduced the Education Improvement Tax Cut Act (H.R. 936), which provides a $3,000 tax deduction for contributions to K-12 education scholarships as well as for cash or in-kind donations to private or public schools. HRs 935 and 936 move control of education resources back into the hands of the American people and help ensure parents can provide their children an excellent education. In fact, since the tax credits contained in H.R. 935 and H.R. 936 may be used to help finance the purchase of items necessary for a science education, such as labs equipment and computers, these bills will particularly benefit those citizens who wish to improve science education. I therefore urge my colleagues to reject the failed, unconstitutional command-and-control approach of H.R. 4271 and instead embrace my legislation to return control of education resources to the American people.
finance
INTRODUCTION OF THE FAMILY EDUCATION FREEDOM ACT — HON. RON PAUL
Wednesday, January 31, 2001 2001 Ron Paul 3:7
* The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Parents of children in public schools may use this credit to help improve their local schools by helping finance the purchase of educational tools such as computers or to ensure their local schools can offer enriching extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services, such as tutoring, for their children.
finance
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:15
It should be clearly evident, however, that all the campaign finance reforms and lobbying controls conceivable will not help the situation. Limiting the right to petition Congress or restricting people’s right to spend their own money will always fail and is not morally acceptable and misses the point. As long as government has so much to offer, public officials will be tempted to accept the generous offers of support from special interests. Those who can benefit have too much at stake not to be in the business of influencing government. Eliminating the power of government to pass out favors is the only real solution. Short of that, the only other reasonable solution must come by Members’ refusal to be influenced by the pressure that special-interest money can exert. This requires moral restraint by our leaders. Since this has not happened, special-interest favoritism has continued to grow.
finance
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:61
If gold prices reflected the true extent of the inflated dollar, confidence in the dollar specifically and in paper more generally would be undermined. It is a high priority of the FED and all central banks of the world for this not to happen. Revealing to the public the fraud associated with all paper money would cause loss of credibility of all central banks. This knowledge would jeopardize the central banks’ ability to perform the role of lender of last resort and to finance/monetize government debt. It is for this reason that the price of gold in their eyes must be held in check.
finance
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:69
The extra credit in the 1990s has found its way especially into the housing market like never before. GSEs, in particular Freddie Mac and Fannie Mae, have gobbled up huge sums to finance a booming housing market. GSE securities enjoy implicit government guarantees, which have allowed for a generous discount on most housing loans. They have also been the vehicles used by consumers to refinance and borrow against their home equity to use these funds for other purposes, such as investing in the stock market. This has further undermined savings by using the equity that builds with price inflation that homeowners enjoy when money is debased. In addition, the Federal Reserve now buys and holds GSE securities as collateral in their monetary operations. These securities are then literally used as collateral for printing Federal Reserve notes; this is a dangerous precedent.
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CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:75
Without the central bank creating money out of thin air, our welfare state and worldwide imperialism would have been impossible to finance. Attempts at economic fine-tuning by monetary authorities would have been impossible without a powerful central bank. Propping up the stock market as it falters would be impossible as well.
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CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:76
But the day will come when we will have no choice but to question the current system. Yes, the FED does help to finance the welfare state. Yes, the FED does come to the rescue when funds are needed to fight wars and for us to pay the cost of maintaining our empire. Yes, the Fed is able to stimulate the economy and help create what appear to be good times. But it’s all built on an illusion. Wealth cannot come from a printing press. Empires crumble and a price is eventually paid for arrogance toward others. And booms inevitably turn into busts.
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The Beginning of the End of Fiat Money
March 13, 2001 2001 Ron Paul 18:10
But the artificial nature of today’s world trade and finance being systematically managed by the IMF, the World Bank and WTO, and driven by a worldwide fiat monetary system, has produced imbalances that have already prompted many sudden adjustments. There have been eight major crisis in the past six years requiring a worldwide effort, led by the Fed, to keep the system afloat, all being done with more monetary inflation and bailouts.
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A New China Policy
April 25, 2001 2001 Ron Paul 25:11
Concern about our negative trade balance with the Chinese is irrelevant. Balance of payments are always in balance. For every dollar we spend in China those dollars must come back to America. Maybe not buying American goods, as some would like, but they do come back and they serve to finance our current account deficit.
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A New China Policy
April 25, 2001 2001 Ron Paul 25:13
It is interesting to note that recent reports reveal that missiles, coming from Israel and financed by American foreign aid, were seen on the fighter plane that caused the collision. It should be equally clear that arming the enemies of our trading partners doesn’t make a whole lot of sense either. For American taxpayers to continue to finance the weaponry of Taiwan, and to maintain an open commitment to send our troops if the border dispute between Taiwan and China erupts into violence, is foolhardy and risky.
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Export-Import Bank
24 July 2001 2001 Ron Paul 61:6
Mr. Chairman, this amendment has something to do with campaign finance reform. I am in favor of some reforms, that is, less control. People have the right to spend their own money the way they want; and when we have the problem of big corporations coming here and lobbying us, that is a secondary problem.
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Export-Import Bank
24 July 2001 2001 Ron Paul 61:8
Mr. Chairman, what I say is let us have some real campaign finance reform and let us get rid of the subsidies and the motivation for these huge corporations to come here and influence our vote. That is what the problem is. We do not need to get the money out of politics, we need to get the money out of Washington and out of the business of subsidizing special interests. That is where our problem is.
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LEGISLATION WHICH ENHANCES SENIOR CITIZENS’ HEALTH CARE -- HON. RON PAUL
Thursday, August 2, 2001 2001 Ron Paul 70:6
* Mr. Speaker, the most important reason to enact this legislation is seniors should not be treated like children and told what health care services they can and cannot have by the federal government. We in Congress have a duty to preserve and protect the Medicare trust fund and keep the promise to America’s seniors and working Americans, whose taxes finance Medicare, that they will have quality health care in their golden years. However, we also have a duty to make sure that seniors can get the health care that suits their needs, instead of being forced into a cookie cutter program designed by Washington-DC-based bureaucrats! Medicare MSAs are a good first step toward allowing seniors the freedom to control their own health care.
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PRESCRIPTION DRUG AFFORDABILITY ACT -- HON. RON PAUL
Thursday, August 2, 2001 2001 Ron Paul 72:4
* The first provision of my legislation provides seniors a tax credit equal to 80 percent of their prescription drug costs. As many of my colleagues have pointed out, our nation’s seniors are struggling to afford the prescription drugs they need in order to maintain an active and healthy lifestyle. Yet, the federal government continues to impose taxes on Social Security benefits. Meanwhile, Congress continually raids the Social Security trust fund to finance unconstitutional programs! It is long past time for Congress to choose between helping seniors afford medicine or using the Social Security trust fund as a slush fund for big government and pork-barrel spending.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:7
Paper money helps the strong and hurts the weak before it self-destructs and undermines international trade. The US dollar, with its reserve-currency status, provides a much greater benefit to American citizens than that which occurs in other countries that follow a similar monetary policy. It allows us to export our inflation by buying cheap goods from overseas, while our dollars are then lent back to us to finance our current account deficit. We further benefit from the confidence bestowed on the dollar by our being the economic and military powerhouse of the world, thus postponing the day of reckoning. This permits our extravagant living to last longer than would have otherwise occurred under a gold standard.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:24
But where is the money going? Some of it probably has helped to prop up the staggering stock market, but that can’t last forever. Plenty went into consumption and to finance extravagant living.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:27
The GSEs, made up of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank, have managed to keep the housing market afloat, in contrast to the more logical slowdown in hotel and office construction. This spending through the GSEs has also served as a vehicle for consumption spending. This should be no surprise, considering the special status that GSEs enjoy, since their implied line of credit to the US Treasury keeps interest rates artificially low. The Clinton administration encouraged growth in housing loans that were financed through this system.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:32
A major problem still remains. Ultimately the market determines all value including all currencies. With the current direction of the dollar certainly downward, the day of reckoning is fast approaching. A weak dollar will prompt dumping of GSE securities before treasuries, despite the Treasury’s and the Fed’s attempt to equate them with government securities. This will threaten the whole GSE system of finance, because the challenge to the dollar and the GSEs will hit just when the housing market turns down and defaults rise. Also a major accident can occur in the derivatives markets where Fannie Mae and Freddie Mac are deeply involved in hedging their interest-rate bets. Rising interest rates that are inherent with a weak currency will worsen the crisis.
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Foreign Interventionism
September 25, 2001 2001 Ron Paul 80:15
When the conflict broke out between Iraq and Iran in the early 1980s and we helped to finance and arm Iraq, Anwar Sadat of Egypt profoundly stated: “This is the beginning of the war for oil.” Our crisis today is part of this long lasting war over oil.
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Statement on International Relations committee hearing featuring Secretary of State Colin Powell
October 17, 2001 2001 Ron Paul 89:4
I am also concerned about the emerging nation-building component of our activities in Afghanistan. If, as it appears, our military action in Afghanistan is to benefit the Northern Alliance opposition group, what assurances do we have that this group will not be every bit as unpopular as the Taliban, as press reporting suggests? Not long ago, it was the Taliban itself that was the recipient of U.S. military and financial support. Who is to say that Afghanistan might not benefit from a government managed by several tribal factions with a weak central government and little outside interference either by the U. S. or the UN? Some have suggested that a western-financed pipeline through Afghanistan can only take place with a strong and “stable” government in place- and that it is up to the U.S. government to ensure the success of what is in fact a private financial venture. Whatever the case, my colleagues in Congress and those in the administration openly talk of a years-long post-war UN presence in Afghanistan to “build institutions.”
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A SAD STATE OF AFFAIRS --
October 25, 2001 2001 Ron Paul 90:26
It just may be that Afghanistan would be best managed by several tribal factions, without any strong centralized government and without any outside influence, certainly not by the U.N. But then again, some claim that the proposed Western financed pipeline through northern Afghanistan can only happen after a strong centralized pro-Western government is put in place.
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A SAD STATE OF AFFAIRS --
October 25, 2001 2001 Ron Paul 90:37
Ironically, opium sales by the Taliban and artificially high prices helped to finance their war against us. In spite of the incongruity, we rewarded the Taliban this spring with a huge cash payment for promises to eradicate some poppy fields. Sure!
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The War On Terrorism
November 29, 2001 2001 Ron Paul 98:48
Even before the passage of the recent draconian legislation, hundreds had already been arrested under suspicion, and millions of dollars of al Qaeda funds had been frozen. None of these new laws will deal with uncooperative foreign entities like the Saudi government, which chose not to relinquish evidence pertaining to exactly who financed the terrorists’ operations. Unfortunately, the laws will affect all innocent Americans, yet will do nothing to thwart terrorism.
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H.R. 3054
16 December 2001 2001 Ron Paul 106:5
Because of my continuing and uncompromising opposition to appropriations not authorized within the enumerated powers of the Constitution, I must remain consistent in my defense of a limited government whose powers are explicitly delimited under the enumerated powers of the Constitution — a Constitution which each Member of Congress swore to uphold. Therefore, Mr. Speaker, I must oppose this legislation and respectfully suggest that perhaps we should begin a debate among us on more appropriate processes by which we spend other people’s money. Honorary medals and commemorative coins, under the current process, come from other people’s money. It is, of course, easier to be generous with other people’s money, but using our own funds to finance these gold medal is true to the sprit of the heros of September 11.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:1
DISCHARGE PETITION ON CAMPAIGN FINANCE REFORM Mr. PAUL. Mr. Speaker, before I get into my Special Order that deals with foreign policy, in which I make the case for defending America, I would like to make a few comments about the campaign finance reform and the discharge petition that was just mentioned by our previous colleagues.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:3
The one thing I agree with him entirely on is that the problem exists. There is no doubt there is a huge influence of money here in Washington, and even in my prepared statement I mention how corporations influence our foreign policy and that something ought to be done about it; but campaign finance reform goes in exactly the wrong direction. It just means more regulations, more controls, telling the American people how they can spend their money and how they can lobby Congress and how they can campaign. That is not the problem.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:4
The problem is that we have Members of Congress that yield to the temptation and influence of money. If we had enough Members around here that did not yield to the temptation, we would not have to have campaign finance reform, we would not have to regulate money, we would not have to undermine the first amendment, and we would not have to undermine the Constitution in that effort.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:5
I agree we have a problem, but I believe the resistance could be here without much change. The ultimate solution to the need for campaign finance reform comes only when we have a constitutional- type government, where government is not doing the things they should be doing. There is a logical incentive for corporations and many individuals to come to Washington, because they can buy influence and buy benefits and buy contracts. The government was never meant to do that.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:6
The government was set up to protect liberty, and yet we have devised a system here where money talks and it is important; but let me tell my colleagues one thing, the Campaign Finance Reform Act that is coming down the pike will do nothing to solve the problem and will do a lot to undermine our freedoms, a lot to undermine the first amendment and do nothing to preserve the Constitution.
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The Case For Defending America
24 January 2002 2002 Ron Paul 1:22
Give less credit to the Washington politicians who sing the songs of patriotism but used the crisis to pursue their endless personal goal to gain more political power; but the greatest combination should be directed toward the special interests’ lobbyists who finance the politicians in order to secure their power by using patriotism as a cover and a crisis as a golden opportunity. Indeed, those who are using the crisis to promote their own agenda are many. There is no doubt, as many have pointed out, our country changed dramatically with the horror that hit us on 9–11.
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Statement before the House Capital Markets Subcommittee
Monday, February 4, 2002 2002 Ron Paul 3:7
Enron provides a perfect example of the dangers of corporate subsidies. The company was (and is) one of the biggest beneficiaries of Export-Import Bank subsidies. The Ex-Im bank, a program that Congress continues to fund with tax dollars taken from hard-working Americans, essentially makes risky loans to foreign governments and businesses for projects involving American companies. The Bank, which purports to help developing nations, really acts as a naked subsidy for certain politically-favored American corporations- especially corporations like Enron that lobbied hard and gave huge amounts of cash to both political parties. Its reward was more that $600 million in cash via six different Ex-Im financed projects.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:16
We should not expect any of this to happen unless the people and the Congress decide that free-market capitalism and sound money are preferable to a welfare state and fiat money. Whether this downturn is the one that will force that major decision upon us is not known, but eventually we will have to make it. Welfarism and our expanding growing foreign commitments, financed seductively through credit creation by the Fed, are not viable options.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:25
This is a well-known problem and prompts some serious-minded and well-intentioned Members to want to legislate campaign finance reforms. But the reforms proposed would actually make the whole mess worse. They would regulate access to the members of Congress, and dictate how private money is spent in campaigns. This merely curtails liberty, while ignoring the real problem- a government that ignores the Constitution naturally passes out largesse. Even under today’s conditions, where money talks in Washington, if enough members would refuse either to accept or be influenced by the special interests, government favors would no longer be up for sale. Since politicians are far from perfect, the solution is having a government of limited size acting strictly within the framework of the Constitution. No matter how strictly campaign finance laws are written, they will do only harm if the rule of law is not restored and if Congress refuses to stop being manipulated by the special interests.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:26
Most people recognize the horrible mess that Washington is and how campaign money and lobbyists influence the system. But the reforms proposed only deal with the symptoms and not the root cause. There is sharp disagreement in what to do about it, but no one denies the existence of the problem. It=s just hard for most to acknowledge that the welfare state is out of control and shouldn’t be in existence anyway. Therefore, they misdirect our attention toward campaign-finance reform rather than deal with the real problem.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:43
Debt, per se, is not the only issue. It’s also because debt always encourages the growth in the size of government. Allowing it to be seductively financed through inflation or borrowing is what makes it so bad. Just because it’s less painful at first and payment is delayed, we should not be tempted to endorse this process.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:58
4. There’s risk that our massive deployment of troops in the many countries of the world may contribute to a greater conflict. We are today in the middle of a dangerous situation between Pakistan and India over Kashmir, both of whom possess nuclear weapons and both of whom we generally finance. Exposing ourselves to such risk, while spending endless sums supporting both sides, makes no sense.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:1
Mr. PAUL. Mr. Speaker, the Enron bankruptcy and the subsequent revelations regarding Enron’s political influence have once again brought campaign finance to the forefront of the congressional agenda. Ironically, many of the strongest proponents of campaign finance reform are among those who receive the largest donations from special interests seeking state favors. In fact, some legislators who where involved in the government-created savings and loan scandal of the late eighties and early nineties today pose as born again advocates of “good government” via campaign finance reform!
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:3
The case against this provision was best stated by Herb Titus, one of America’s leading constitutional scholars, in his paper Campaign-Finance Reform: A Constitutional Analysis : “At the heart of the guarantee of the freedom of speech is the prohibition against any law designed to protect the reputation of the government to the end that the people have confidence in their current governors. As seditious libel laws protecting the reputation of the government unconstitutionally abridge the freedom of speech, so also do campaign-finance reform laws.”
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:6
It is the power of the welfare-regulatory state which creates a tremendous incentive to protect one’s own interests by “investing” in politicians. Since the problem is not a lack of federal laws, or rules regulating campaign spending, more laws won’t help. We hardly suffer from too much freedom. Any effort to solve the campaign finance problem with more laws will only make things worse by further undermining the principles of liberty and private property ownership.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:12
Politicians unable to accept this responsibility clamor for a system that diminishes the need for them to persuade individuals and groups to donate money to their campaigns. Instead of persuasion, they endorse coercing taxpayers to finance campaigns.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:13
This only changes the special interest groups that control government policy. Instead of voluntary groups making their own decisions with their own money, politicians and bureaucrats dictate how political campaigns will be financed. Not only will politicians and bureaucrats gain influence over elections, other nondeserving people will benefit. Clearly, incumbents will greatly benefit by more controls over campaign spending- a benefit to which the reformers will never admit.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:14
Mr. Speaker, the freedoms of the American people should not be restricted because some politicians cannot control themselves. We need to get money out of government. Only then will money not be important in politics. Campaign finance laws, such as those before us today, will not make politicians more ethical, but they will make it harder for average Americans to influence Washington.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:15
The case against this bill was eloquently made by Herb Titus in the paper referenced above: ACampaign-finance reform is truly a wolf in sheep’s clothing. Promising reform, it hides incumbent perquisites. Promising competition, it favors monopoly. Promising integrity, it fosters corruption. Real campaign-finance reform calls for a return to America’s original constitutional principles of limited and decentralized governmental power, thereby preserving the power of the people.”
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:17
Campaign-Finance Reform A Constitutional Analysis by Herbert W. Titus
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:18
1. Introduction 2. Congress Has No Constitutional Authority to Pass Any Campaign-Finance
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:19
3. Reform Legislation Campaign-Finance Reform Violates Separation of Powers and Federalism
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:20
4. Campaign-Finance Reform Abridges the Freedom of Speech and the Press 5. Campaign-Finance Reform Abridges the Right of the People to Assemble
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:22
I. Introduction To date, the legislative debate over campaign-finance reform has focused upon the First Amendment guarantee of freedom of speech, as interpreted and applied by the courts. The constitutional issues, however, are not limited to the First Amendment, neither are they resolved by citation to Buckley v. Valeo, 424 U.S. 1 (1976) nor by the latest Supreme Court opinion, including the one handed down on June 25, 2001 in FEC v . Colorado Republican Federal Campaign Committee . To the contrary, pursuant to their oaths of office, members of Congress have an independent duty to determine the constitutionality of legislation before them and to decide, before ever reaching the First Amendment, whether they have been vested by the Constitution with any authority, at all, to regulate federal election campaigns.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:24
Hamilton’s warning has proved prophetic in the case of campaign-finance reform. As the debate swirls around the impact of such reform measures on the freedom of speech and association, the question whether Congress has the constitutional authority to regulate federal election campaigns is being ignored. Yet, that question would have been hotly debated and quickly answered in America’s founding era in light of the constitutional text carefully circumscribing Congress’s authority in relation to federal elections. (See Article I, Section 4, Clause 1 and Article II, Section 1, Clause 4; Federalist No. 60 and Federalist No. 68, I Story’s Commentaries on the Constitution , Sections 814-826 and II Story’s Commentaries , Sections 1453-75, 5th ed. 1891.)
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:27
It is in light of these principles, then, that the issue of constitutional authority to enact any campaign-finance reform bill is addressed in sections II and III below, before reaching the First Amendment issues raised by particular campaign-finance measures in sections IV and V. Furthermore, those issues are examined in light of the constitutional duty of Congress to decide for itself whether it has the constitutional authority to enact campaign-finance reform legislation and whether any such legislation violates the First Amendment, regardless of the opinion of the United States Supreme Court in Buckley v. Valeo, 424 U.S. 1 (1976) and its progeny, including the high court’s most recent pronouncement on June 25, 2001.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:28
II.Congress Has No Constitutional Authority to Pass Any Campaign-Finance Reform Legislation According to Article I, Section 1 of the United States Constitution, Congress is a legislature of enumerated powers, having only those “powers herein granted.” As a legislature of enumerated powers, Congress may enact laws only for constitutionally authorized purposes. ( McCulloch v. Maryland, 17 U.S., 4 Wheat. 316, 1819) (“Let the end be legitimate, and all means which are appropriate, which are plainly adapted to that end which are not prohibited, are constitutional.”) The stated purpose of all campaign-finance reform legislation, like the Federal Election Campaign Act that it amends, is to “reform the financing of campaigns for election to Federal office,” thereby preventing the “corruption and the appearance of corruption” in government and “equaliz[ing] the relative ability of all citizens to affect the outcomes of elections.” ( Buckley v. Valeo, 424 U.S. 1, 25-26, 1976) Congress has been granted no such power.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:29
The threshold question concerning any campaign-finance reform bill is whether the Constitution has conferred upon Congress any authority to regulate federal election campaigns . Such authority is not found among any enumerated power conferred upon Congress. Therefore, Congress may not justify any campaign-finance reform measure on the grounds that its purpose is to reform the financing of campaigns for federal office. Thus, campaign-finance reform laws may be constitutionally justified only if enacted as a means to achieve some other purpose that is constitutionally authorized. ( McCulloch v. Maryland, 17 U.S., 4 Wheat. 316, 1819)
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:30
The Federal Election Campaign Act of 1971, as amended in 1974, presumed that the Constitution authorized Congress to regulate federal election campaigns for the purposes of “the prevention of corruption and the appearance of corruption” in government and of the equalization of “the relative ability of all citizens to affect the outcome of elections.” ( Buckley v. Valeo, 424 U.S. 1, 25-26, 1976) According to the proponents of campaign-finance reform, both then and now, Congress has power to regulate federal election campaigns because it has the general power “to regulate federal elections....” ( Id., 424 U.S. at 13-14) A careful examination of the Constitution, as it is written, uncovers no such broad power, but only a carefully circumscribed one.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:41
III. Campaign-Finance Reform Violates Separation of Powers and Federalism Under the Constitution, Congress has no role in the manner by which the president and vice president are selected. In order to ensure the independence of the president from Congress, the electors of the president and vice president are state officers, governed exclusively by the Constitution and by state law. (See Bush v. Gore , supra.) All current campaign-finance measures, such as the Federal Campaign Act of 1971, as amended in 1974, subvert these separation of powers and federalism principles by imposing a national uniform rule governing the conduct of election campaigns for president and vice-president. They also undermine the federalism principle underpinning the limited role of Congress in the governance of elections of representatives and senators.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:44
Thus, the electoral college system was designed to prevent corruption and the appearance of corruption of the offices of the president and the vice president. That system was set up in such a way as to deny to Congress any authority over the manner of selecting those two officers, leaving the selection process to be exclusively and absolutely determined by the legislatures of the several states. This delegation to the several state legislatures necessarily precludes Congress from imposing any uniform rule governing the election of the president and the vice president. (See McPherson v. Blacker, 146 U.S. 1, 1892.) By continuing the regulation of presidential election campaigns as provided for in the Federal Election Campaign Act of 1971, as amended in 1974, and by adding new regulations that extend to candidates for the presidency and vice presidency, all current campaign-finance reform measures subvert the constitutionally prescribed decentralized manner by which the president and vice president of the United States are selected.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:45
By design and effect, such measures perpetuate the current regulations governing the selection of presidential and vice presidential electors who are, according to the Constitution, state officers, and not federal ones. ( In re Green, 134 U.S. 377, 1890) (“Although the electors are appointed and act under and pursuant to the Constitution of the United States, they are no more officers or agents of the United States than are... the people of the States when acting as electors of representatives in Congress.”); Ray v. Blair, 343 U.S. 214, 224-25 (1952) (“The presidential electors exercise a federal function in balloting for President and Vice-President but they are not federal officers or agents any more than the state elector who votes for congressmen.”) Thus, all current campaign-finance reform bills violate the principles of separation of powers and federalism protecting the independence of the federal executive branch.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:46
Additionally, campaign-finance regulations applied to the election of members of Congress also intrude upon the power of their electors who, like presidential electors, are state officers. According to Article I, Section 2 and the Seventeenth Amendment, the qualifications of the electors of United States representatives and senators are set by state law, not by federal law. ( In re Green, supra, 134 U.S. 379; Ray v. Blair, supra, 343 U.S. at 224-25) The Constitution did not grant to Congress any power to determine the eligibility of their electors, and thus insulated those electors from having their power reduced, or otherwise affected, by their representatives in Congress.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:47
Although no current campaign-finance reform bill sets the qualifications of electors for Congress, each one does, like its predecessors, impose a uniform system of campaign rules designed to govern the power to be exercised by citizens at the voting booth. Some of the measures, like the McCain-Feingold bill passed in the Senate and Shays-Meehan bill pending before the House, extend that uniform system, exercising power over the state, district and local committees of political parties as well as the national committees of those parties. While such laws do not change state laws governing voter eligibility, as such, they do change the power exercised by those eligible voters. Indeed, one of the stated purposes of campaign reform legislation is to “equalize” the power of citizens “to affect the outcome of elections.” ( Buckley v. Valeo, supra, 424 U.S. at 25-26) Such a purpose, however, is illegitimate. It imposes a national uniform standard limiting the power of voters to the detriment of a constitutionally prescribed system of state diversity.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:48
In his Commentaries on the Constitution , Justice Story observed that the framers deliberately chose not to impose a standard of “equality” among the voters of the several states, but rather to accommodate a “mixed system, embracing and representing and combining distinct interests, classes and opinions.” ( I Story , Commentaries on the Constitution Sections 583-84, 5th ed., 1891) More recently, in a column published in the September 5, 1999, issue of The Washington Post, columnist George Will reminded his fellow Americans that the Constitution does not authorize one federal election, but many. All current campaign-finance reform measures disregard this decentralized federal structure governing elections to Congress and to the presidency and, for that reason, are unconstitutional.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:49
IV. Campaign-Finance Reform Abridges the Freedom of Speech and the Press At the heart of campaign-finance reform legislation, is the desire of Congress to eliminate even the “appearance of corruption” to the end that the people have confidence in the current system of representative government. ( Buckley v. Valeo, 424 U.S. 1, 27, 1976) At the heart of the guarantee of the freedom of speech is the prohibition against any law designed to protect the reputation of the government to the end that the people have confidence in their current governors. As seditious libel laws protecting the reputation of the government unconstitutionally abridge the freedom of speech so also do campaign-finance reform laws.
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:52
This same theme has been struck by leading proponents of reform in the House of Representatives. Four years ago, House Minority Leader Richard Gephardt urged the adoption of more restrictive measures “for healthy campaigns in a healthy democracy” even at the expense of the freedom of speech. (Gibbs, “The Wake-Up Call,” Time, p. 25, Feb. 3, 1997) Representative Gephardt has not changed his mind, continuing his adamant support of the speech-restrictive Shays-Meehan bill to this day. (Mitchell, “2 Election Bills Go to the House Floor,” The New York Times , June 29, 2001) Indeed, Senator John McCain has not changed his mind either. Having urged in 1997 the enactment of a law placing limits on public policy organizations’ political advertising in the waning days of an election campaign, and thus calling off the political “attack dogs” (NBC News, Meet the Press, Feb. 3, 1997), Senator McCain is waging an all-out war to make sure that his version of campaign-finance reform passes the House. (Shenon, “House Critics Call McCain a Bully on Campaign Bill,” The New York Times, July 9, 2001) As McCain’s Democrat colleague, Russell Feingold, put it upon the introduction of Shays-Meehan in the Senate in 1999: “The prevalence – no – the dominance of money in our system of elections and our legislature will…cause them to crumble.” (Cong. Rec. S422, 423, daily ed., Jan. 19, 1999)
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:53
What these advocates of campaign-finance reform really want is to protect incumbent office holders from the people. Under the guise of preserving the present governmental structure, they support campaign-finance reform measures that are nothing more than “incumbent-protection” legislation that would make entrenched politicians even less responsive to the people. (See e.g., James C. Miller, Monopoly Politics 88-101, Hoover Inst. 1999.)
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:56
Had the court applied the same standard to the Campaign Reform Act of 1971, that law, too, would have been cast into the dustbin of history. For, campaign-finance reform laws - like seditious libel laws - exist solely to protect the present government and her leaders from the people. While this goal may be permissible in England where the Parliament embodies the sovereignty of the nation, it has no place in America where, as James Madison put it in the 1800 Virginia Resolutions in opposition to the Alien and Sedition Act of 1798, the “people, not the government, possess absolute sovereignty.”
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:57
Campaign-finance reform also constitutes a direct attack on the First Amendment freedom of the press. By giving politicians and their appointed bureaucrats the right to decide what the people can say about them in the heat of an election campaign, as McCain-Feingold and Shays-Meehan do with respect to issue advertising in the closing weeks of a campaign, these so-called reformers reject the very idea of a republican form of government, granting to the government “censorial power over the people,” instead of preserving the censorial power of the people over their government. (See New York Times v. Sullivan, supra, 376 U.S. at 275.)
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:58
Such intrusions into the campaign process put the government into the role of editor of campaign literature, a role that is absolutely forbidden to the government by the freedom of the press. ( Miami Herald Tribune v. Tornillo, 418 U.S. 241, 258, 1974) Indeed, if the Supreme Court would apply the same principle to election-campaign literature that it has applied to election editorials and stories carried by newspapers, all campaign-finance reform legislation would be clearly unconstitutional. Not only do all campaign-finance reform measures transfer editorial control over an election campaign from the people to the government, but they also continue the unconstitutional licensing system of the Federal Election Commission established by the Federal Election Campaign Act of 1971. In order to engage in a campaign for federal office, a candidate must register and report to the commission. Anyone who does not meet the commission’s registration and reporting rules is denied the right to participate and is subject not only to civil and criminal penalties, but to an injunction. Such a regulatory scheme strikes at the very heart of the freedom of the press which, as Sir William Blackstone wrote in 1769:
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:60
Campaign-finance reform, then, is not progressive, but reactive, turning the clock back to the days of the English Star Chamber that enforced the King’s rules governing the conduct of elections for the ostensible purpose of keeping his realm free of moral and political corruption. ( Sources of Our Liberties 130, 242, Perry, ed., American Bar Found., 1978) A free nation may only be preserved when the people have the liberty of the press to censor their own speech about the government and about candidates for governmental office, not when the government has censorship power of the people, as campaign-finance reform inevitably dictates.
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:61
V. Campaign-Finance Reform Abridges the Right of the People to Assemble The right of the people to assemble is the right of the people to associate freely together to consult for the common good, subject only to the requirement that their association be “peaceable.” Any law that is not designed to keep the physical peace of the community is, therefore, unconstitutional. No campaign-finance reform measure has ever been designed to keep the “physical peace”; rather, each is designed to keep the “political peace;” a constitutionally impermissible goal abridging the right of the people to assemble.
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:62
Since Watergate, Congress has been scrambling to “purify” the political process in order to restore public confidence in the federal government. Campaign-finance reform has been one of the centerpieces of this purification effort. Two central goals have dominated this reform effort: (1) to limit the amounts that any one person or entity may contribute to an election campaign; (2) to force disclosure of the identity of those contributors. Both of these aims violate the First Amendment right of the people to assemble.
finance
So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:66
Compounding these intrusions upon the people’s right to choose how and with whom they will associate to advance their political agenda, all campaign-finance reform measures depend upon forced disclosure of the names and addresses of even the smallest contributor to an election campaign. Such required public disclosure hearkens back to the days when the English monarchy required the publication of the names and addresses of all printers of all publications circulated throughout the realm. Requiring disclosure of the names of contributors to federal election campaigns departs from an American tradition and practice that dates back to the founding of the nation and from a long line of cases affording constitutional protection of anonymity in associative relationships. ( McIntyre v. Ohio, 514 U.S. 334, 1995; NAACP v. Alabama, 357 U.S. 449, 1958) Forced divulgence of the names of contributors to federal election campaigns exposes people not only to retaliation by employers and union leaders, whose political choices are not the same as their employees and their members, but it also exposes people who support challengers to the inevitable cold shoulder of a re-elected incumbent. ( Buckley v. Valeo, supra, 424 U.S. at 237, Burger, C.J., dissenting)
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:67
Keeping the political peace, as campaign-finance reform is designed to do, exacts a high price, costing the people their precious liberty of choosing how much energy and resources they wish to devote to politics. While full freedom of association, including anonymity, risks corruption of the political process, nothing is more corrosive of that process than placing election campaigns in the discretionary hands of unelected bureaucrats. (Miller, Monopoly Politics 95-100, 1999)
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So-Called “Campaign Finance Reform” is Unconstitutional
February 13, 2002 2002 Ron Paul 7:68
VI. Conclusion Campaign-finance reform is truly a wolf in sheep’s clothing. Promising reform, it hides incumbent perquisites. Promising competition, it favors monopoly. Promising integrity, it fosters corruption. Real campaign-finance reform calls for a return to America’s original constitutional principles of limited and decentralized governmental power, thereby preserving the power of the people.
finance
Introduction of the Monetary Freedom and Accountability Act
February 13, 2002 2002 Ron Paul 8:11
But there are many in the world of high finance who aren’t buying the official line and warn that Enron is just the first to fall from a shaky house of cards.
finance
Statement on wasteful foreign aid to Colombia
March 6, 2002 2002 Ron Paul 14:6
As with much of our interventionism, if you scratch the surface of the high-sounding calls to “protect democracy” and “stop drug trafficking” you often find commercial interests driving U.S. foreign policy. This also appears to be the case in Colombia. And like Afghanistan, Kosovo, Iraq, and elsewhere, that commercial interest appears to be related to oil. The U.S. administration request for FY 2003 includes a request for an additional $98 million to help protect the Cano-Limon Pipeline- jointly owned by the Colombian government and Occidental Petroleum. Rebels have been blowing up parts of the pipeline and the resulting disruption of the flow of oil is costing Occidental Petroleum and the Colombian government more than half a billion dollars per year. Now the administration wants American taxpayers to finance the equipping and training of a security force to protect the pipeline, which much of the training coming from the U.S. military. Since when is it the responsibility of American citizens to subsidize risky investments made by private companies in foreign countries? And since when is it the duty of American service men and women to lay their lives on the line for these commercial interests?
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Predictions
24 April 2002 2002 Ron Paul 25:14
Price inflation, with a major economic downturn, will decimate U.S. Federal Government finances, with exploding deficits and uncontrolled spending.
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Stop Perpetuating the Welfare State
May 16, 2002 2002 Ron Paul 42:10
Today, government welfare programs have supplemented the old-style private programs. One major reason for this is that the policy of high taxes and the inflationary monetary policy imposed on the American people in order to finance the welfare state have reduced the income available for charitable giving. Many over-taxed Americans take the attitude toward private charity that "I give at the (tax) office."
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Don’t Force Taxpayers to Fund Nation-Building in Afghanistan
May 21, 2002 2002 Ron Paul 43:15
Release of funds authorized by this legislation is dependent on the holding of a traditional Afghan assembly of tribal representatives –a “loya jirga” – as a first step toward democratization. It authorizes $10 million dollars to finance this meeting. That this traditional meeting will produce anything like a truly representative body is already in question, as we heard earlier this month that seven out of 33 influential tribal leaders have already announced they will boycott the meeting. Additionally, press reports have indicated that the U.S. government itself was not too long ago involved in an attempted assassination of a non-Taliban regional leader who happened to be opposed to the rule of the American-installed Hamid Karzai. More likely, this “loya jirga” will be a stage-managed showpiece, primarily convened to please Western donors. Is this any way to teach democracy?
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Stop Taxing Social Security Benefits!
May 22, 2002 2002 Ron Paul 46:2
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, "taxing" benefits paid by the government is merely an accounting trick, a shell game which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
finance
Don’t Expand Federal Deposit Insurance
May 22, 2002 2002 Ron Paul 47:4
Government subsidies lead to government control, as regulations are imposed on the recipients of the subsidies in order to address the moral hazard problem. This is certainly the case in banking, which is one of the most heavily regulated industries in America. However, as George Kaufman, the John Smith Professor of Banking and Finance at Loyola University in Chicago, and co-chair of the Shadow Financial Regulatory Committee, pointed out in a study for the CATO Institute, the FDIC’s history of poor management exacerbated the banking crisis of the eighties and nineties. Professor Kaufman properly identifies a key reason for the FDIC’s poor track record in protecting individual depositors: regulators have incentives to downplay or even cover-up problems in the financial system such as banking failures. Banking failures are black marks on the regulators’ records. In addition, regulators may be subject to political pressure to delay imposing sanctions on failing institutions, thus increasing the magnitude of the loss.
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Beware Dollar Weakness
June 5, 2002 2002 Ron Paul 52:4
Gold is history’s oldest and most stable currency. Central bankers and politicians hate gold because it restrains spending and denies them the power to create money and credit out of thin air. Those who promote big government, whether to wage war and promote foreign expansionism or to finance the welfare state here at home, cherish this power.
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H.R. 4954
27 June 2002 2002 Ron Paul 63:11
Mr. Speaker, seniors should not be treated like children by the federal government and told what health care services they can and cannot have. We in Congress have a duty to preserve and protect the Medicare trust fund. We must keep the promise to American’s seniors and working Americans, whose taxes finance Medicare, that they will have quality health care in their golden years. However, we also have a duty to make sure that seniors can get the health care that suits their needs, instead of being forced into a cookie cutter program designed by Washington, DC — based bureaucrats! Medicare MSAs are a good first step toward allowing seniors the freedom to control their own health care.
finance
Unintended Consequences of the Drug War
June 27, 2002 2002 Ron Paul 65:1
Mr. Speaker, I highly recommend the attached article “Unintended Consequences” by Thomas G. Donlan, from Barron’s magazine, to my colleagues. This article provides an excellent explanation of the way current federal drug policy actually encourages international terrorist organizations, such as Al Queda, to use the drug trade to finance their activities. Far from being an argument to enhance the war on drugs, the reliance of terrorist organizations upon the drug trade is actually one more reason to reconsider current drug policy. Terrorist organizations are drawn to the drug trade because federal policy still enables drug dealers to reap huge profits from dealing illicit substances. As Mr. Donlan points out, pursuing a more rational drug policy would remove the exorbitant profits from the drug trade and thus remove the incentive for terrorists to produce and sell drugs.
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Unintended Consequences of the Drug War
June 27, 2002 2002 Ron Paul 65:15
Like they wanted to do that? The buyers of drugs would be perfectly happy to buy them in a clean, well-lit store at reasonable prices, with the profits heavily taxed to support schools, medical benefits, or any other legitimate function of government – even police. That’s how they buy cigarettes and liquor, neither of which finances international terrorists. (In a current prosecution, smuggling cigarettes from low-tax North Carolina to high-tax Michigan allegedly raised $1,500 for an alleged affiliate of Hamas. But big violence needs bigger sums from more lucrative sources.)
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Unintended Consequences of the Drug War
June 27, 2002 2002 Ron Paul 65:17
Using drugs is stupid enough; making the users finance international terrorists is even more foolish.
finance
Department of Homeland Security
26 July 2002 2002 Ron Paul 80:7
We have also received a Congressional Budget Office (CBO) cost estimate suggesting that it will cost no less than $3 billion just to implement this new department. That is $3 billion dollars that could be spent to capture those responsible for the attacks of September 11 or to provide tax-relief to the families of the victims of that attack. It is three billion dollars that could perhaps be better spent protecting against future attacks, or even simply to meet the fiscal needs of our government. Since those attacks this Congress has gone on a massive spending spree. Spending three billion additional dollars now, simply to rearrange offices and command structures, is not a wise move. In fact, Congress is actually jeopardizing the security of millions of Americans by raiding the social security trust fund to rearrange deck chairs and give big spenders yet another department on which to lavish porkbarrel spending. The way the costs of this department have skyrocketed before the Department is even open for business leads me to fear that this will become yet another justification for Congress to raid the social security trust fund in order to finance pork-barrel spending. This is especially true in light of the fact that so many questions remain regarding the ultimate effect of these structural changes. Moreover, this legislation will give the Executive Branch the authority to spend money appropriated by Congress in ways Congress has not authorized. This clearly erodes Constitutionally- mandated Congressional prerogatives relative to control of federal spending.
finance
The Price Of War
5 September 2002 2002 Ron Paul 83:8
As the 21st century begins, there is not a country in the world that does not depend upon the U.S. for protections or fears her wrath if they refuse to do her bidding. As the 20th century progressed, American taxpayers were required to finance with great sacrifice financially and freedom-wise the buying of loyalty through foreign aid and intimidation of those others who did not cooperate.
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The Price Of War
5 September 2002 2002 Ron Paul 83:36
The term foreign policy does not exist in the Constitution. All members of the Federal Government have sworn to uphold the Constitution and should do only those things that are clearly authorized. Careful reading of the Constitution reveals Congress has a lot more responsibility than does the President in dealing with foreign affairs. The President is the Commanderin- Chief, but cannot declare war or finance military action without explicit congressional approval. A good starting point would be for all of us in the Congress to assume the responsibility given us to make sure the executive branch does not usurp any authority explicitly given to the Congress.
finance
“Say ‘No’ To UNESCO” Act
26 September 2002 2002 Ron Paul 91:4
Mr. Speaker, even if UNESCO has been “reforming” its finances over the past two years, its programmatic activities are still enough to cause great concern among those of us who value American sovereignty and honor our Constitution. Consider the following as a partial list of UNESCO’s ongoing highly questionable activities:
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Internet Gambling
1 October 2002 2002 Ron Paul 92:1
Mr. PAUL. Mr. Speaker, H.R. 556 limits the ability of individual citizens to use bank instruments, including credit cards or checks, to finance Internet gambling. This legislation should be rejected by Congress since the federal government has no constitutional authority to ban or even discourage any form of gambling.
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Unintended Consequences
November 14, 2002 2002 Ron Paul 102:7
Pre-emptive war against Iraq may well prompt traditional enemies in the regions to create new alliances, as the hatred for America comes to exceed age-old hatreds that caused regional conflicts. Iraq already has made overtures and concessions to Iran and Kuwait, with some signs of conciliation being shown by both sides. Total domination of the entire Persian Gulf and the Caspian Sea regions by the U.S. will surely stir survival instincts in these countries as well as in Russia. As the balance of power continues to shift in the U.S.’s favor, there will be even more reasons for countries like China and Pakistan to secretly support the nations that are being subjected to U.S. domination in the region. The U.S. will never have a free ride in its effort to control the entire world’s oil supply. Antagonisms are bound to build, and our ability to finance the multiple military conflicts that are bound to come is self-limited.
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Say NO to UNESCO
January 7, 2003 2003 Ron Paul 2:4
Mr. Speaker, even if UNESCO has been “reforming” its finances over the past two years, its programmatic activities are still enough to cause great concern among those of us who value American sovereignty and honor our Constitution. Consider the following as a partial list of UNESCO’s ongoing highly questionable activities:
finance
Republic Versus Democracy
29 January 2003 2003 Ron Paul 6:43
The belief that democratic demands can be financed by deficits, credit creation, and taxation is based on false hope and failure to see how it contributes to the turbulence as the democracy collapses. Once a nation becomes a democracy, the whole purpose of government changes. Instead of the government’s goal being that of guaranteeing liberty, equal justice, private property and voluntary exchange, the government embarks on the impossible task of achieving economic equality and micromanaging the economy and protecting citizens from themselves in all their activities.
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Republic Versus Democracy
29 January 2003 2003 Ron Paul 6:72
With the additional spending to wage war against terrorism at home, while propping up an ever-expensive and failing welfare state, and the added funds needed to police the world, all in the midst of a recession, we are destined to see an unbelievably huge explosion of deficit spending. Raising taxes will not help. Borrowing the needed funds for the budgetary deficit, plus the daily borrowing from foreigners required to finance our ever-growing account deficit, will put tremendous pressure on the dollar.
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Reduce Taxes On Senior Citizens
January 28, 2003 2003 Ron Paul 8:2
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a shell game which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
finance
Expand Medicare MSA Program
5 February 2003 2003 Ron Paul 12:5
Mr. Speaker, the most important reason to enact this legislation is seniors should not be treated like children and told what health care services they can and cannot have by the federal government. We in Congress have a duty to preserve and protect the Medicare trust fund and keep the promise to America’s seniors and working Americans, whose taxes finance Medicare, that they will have quality health care in their golden years.
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The Family Education Freedom Act
February 5, 2003 2003 Ron Paul 13:7
The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Parents of children in public schools may use this credit to help improve their local schools by helping finance the purchase of educational tools such as computers or to ensure their local schools can offer enriching extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services, such as tutoring, for their children.
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Prescription Drug Affordability Act
February 11, 2003 2003 Ron Paul 17:2
The first provision of my legislation provides seniors a tax credit equal to 80 percent of their prescription drug costs. As many of my colleagues have pointed out, our nation’s seniors are struggling to afford the prescription drugs they need in order to maintain an active and healthy lifestyle. Yet, the federal government continues to impose taxes on Social Security benefits. Meanwhile, Congress continually raids the Social Security trust fund to finance unconstitutional programs! It is long past time for Congress to choose between helping seniors afford medicine or using the Social Security trust fund as a slush fund for big government and pork-barrel spending.
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Support Medical Savings Accounts for Medicare
February 13, 2003 2003 Ron Paul 21:6
Mr. Speaker, the most important reason to enact this legislation is seniors should not be treated like children and told what health care services they can and cannot have by the federal government. We in Congress have a duty to preserve and protect the Medicare trust fund and keep the promise to America’s seniors and working Americans, whose taxes finance Medicare, that they will have quality health care in their golden years.
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Oppose the Federal Welfare State
February 13, 2003 2003 Ron Paul 22:10
Today, government welfare programs have supplemented the old-style private programs. One major reason for this is that the policies of high taxes and inflationary Federal Reserve money imposed on the American people in order to finance the welfare state have reduced the income available for charitable giving. Many over-taxed Americans take the attitude toward private charity that “I give at the (tax) office.”
finance
Don’t Antagonize our Trading Partners
April 1, 2003 2003 Ron Paul 41:8
My humble advice, consider being nicer to our friends and allies. We need them more than we can imagine to finance our war efforts. There is more to it than passing the supplemental appropriation. Besides, we need time to get our financial house in order. Antagonizing our trading partners can only make that task that much more complicated.
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Don’t Antagonize our Trading Partners
April 1, 2003 2003 Ron Paul 41:9
The day will come when true monetary reform will be required. Printing money to finance war and welfare can never be a panacea.
finance
War No Excuse For Frivolous Spending
3 April 2003 2003 Ron Paul 46:6
In conclusion, Mr. Chairman, H.R. 1559 endangers America’s economy by engaging in pork-barrel spending and corporate welfare unrelated to national security. This bill endangers America’s economic health by adding almost $80 billion to the already bloated federal deficit. Additions to the deficit endanger our financial independence because America will have to increase its reliance on foreign borrowers to finance our debt. H.R. 1599 also shortchanges Americans by giving lower priority to funding homeland security than to funding unreliable allies and projects, like the Middle Eastern TV Network, that will do nothing to enhance America’s security. Therefore, I must oppose this bill.
finance
The Flag Burning Amendment
June 3, 2003 2003 Ron Paul 57:11
It was mentioned earlier that those who supported campaign finance laws were inconsistent. And others would say that we do not have to worry about the First amendment when we are dealing with the flag amendments. But I would suggest there is another position. Why can we not be for the First amendment when it comes to campaign finance reform and not ask the government to regulate the way we spend our money and advertise, while at the same time supporting the First amendment here?
finance
Unlawful Internet Gambling Funding Prohibition Act
10 June 2003 2003 Ron Paul 66:1
Mr. PAUL. Mr. Chairman, H.R. 2143 limits the ability of individual citizens to use bank instruments, including credit cards or checks, to finance Internet gambling. This legislation should be rejected by Congress since the Federal Government has no constitutional authority to ban or even discourage any form of gambling.
finance
Does Tony Blair Deserve a Congressional Medal?
June 25, 2003 2003 Ron Paul 68:2
Second, though these gold medals are an unconstitutional appropriation of American tax dollars, at least in the past we have awarded them to great humanitarians and leaders like Mother Theresa, President Reagan, Pope John Paul II, and others. These medals generally have been proposed to recognize a life of service and leadership, and not for political reasons - as evidenced by the overwhelming bi-partisan support for awarding President Reagan, a Republican, a gold medal. These awards normally go to deserving individuals, which is why I have many times offered to contribute $100 of my own money, to be matched by other members, to finance these medals.
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Medicare Funds For Prescription Drugs
26 June 2003 2003 Ron Paul 71:18
Mr. Speaker, seniors should not be treated like children by the federal government and told what health care services they can and cannot have. We in Congress have a duty to preserve and protect the Medicare trust fund. We must keep the promise to America’s seniors and working Americans, whose taxes finance Medicare, that they will have quality health care in their golden years. However, we also have a duty to make sure that seniors can get the health care that suits their needs, instead of being forced into a cookie cutter program designed by Washington, DC-based bureaucrats! Medicare MSAs are a good first step toward allowing seniors the freedom to control their own health care.
finance
Neo – CONNED !
July 10, 2003 2003 Ron Paul 73:92
One thing is certain, no matter how morally justified the programs and policies seem, the ability to finance all the guns and butter being promised is limited, and those limits are becoming more apparent every day.
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Neo – CONNED !
July 10, 2003 2003 Ron Paul 73:95
Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy. A few have, and others will continue to do so, but too many—both in and out of government—close their eyes to the issue of personal liberty and ignore the fact that endless borrowing to finance endless demands cannot be sustained. True prosperity can only come from a healthy economy and sound money. That can only be achieved in a free society.
finance
The Foreign Aid Limitation Act
17 July 2003 2003 Ron Paul 80:2
The Foreign Aid Limitation Act prohibits the Secretary of the Treasury from using the ESF to make a loan or extend credit to any foreign government or entity for an amount exceeding $250,000,000. The bill also forbids the ESF from being used to finance a loan or to extend credit, to any foreign government or entity for a period exceeding 60 days. The 60-day limitation can be waived if the President certifies in writing to the Chair and ranking members of the relevant House and Senate Committees that the United States obtained an assured source of repayment before making the loan or extending the credit. Finally, the bill prohibits the use of the ESF to make loans or extend credit in an amount exceeding $1,000,000,000 to a foreign government or entity without express statutory authorization. This provision can also be waived if the President certifies in writing to the heads of the relevant committees that the loan is necessary to address a financial crisis threatening the United States and Congress does not pass a joint resolution disapproving the loan or credit.
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The Foreign Aid Limitation Act
17 July 2003 2003 Ron Paul 80:4
In particular, there was great controversy over the Clinton administration’s use of the ESF to finance the Mexican bailout without Congressional approval in 1995. Today, there is a similar controversy over the use of the ESF in the Iraq rebuilding process. Ensuring the fund is only used for narrow purposes will help end the controversy by bringing greater transparency to the disbursement of foreign aid. Even supporters of a vigorous foreign aid program should support restoring Congress’ rightful role as appropriator and overseer of foreign aid funds.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:17
Fiat money is also immoral because it allows government to finance special interest legislation that otherwise would have to be paid for by direct taxation or by productive enterprise. This transfer of wealth occurs without directly taking the money out of someone’s pocket. Every dollar created dilutes the value of existing dollars in circulation. Those individuals who worked hard, paid their taxes, and saved some money for a rainy day are hit the hardest, with their dollars being depreciated in value while earning interest that is kept artificially low by the Federal Reserve easy-credit policy. The easy credit helps investors and consumers who have no qualms about going into debt and even declaring bankruptcy.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:30
The money issue should indeed be a gigantic political issue. Fiat money hurts the economy, finances wars, and allows for excessive welfarism. When these connections are realized and understood, it will once again become a major political issue, since paper money never lasts. Ultimately politicians will not have a choice of whether to address or take a position on the money issue. The people and circumstances will demand it.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:59
Big business and banking deserve our harsh criticism, but not because they are big or because they make a lot of money. Our criticism should come because of the special benefits they receive from a monetary system designed to assist the business class at the expense of the working class. Labor leader Samuel Gompers understood this and feared paper money and a central bank while arguing the case for gold. Since the monetary system is used to finance deficits that come from war expenditures, the military industrial complex is a strong supporter of the current monetary system.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:61
Economic intervention, financed by inflation, is high-stakes government. It provides the incentive for the big money to “invest” in gaining government control. The big money comes from those who have it- corporations and banking interests. That’s why literally billions of dollars are spent on elections and lobbying. The only way to restore equity is to change the primary function of government from economic planning and militarism to protecting liberty. Without money, the poor and middle class are disenfranchised since access for the most part requires money. Obviously, this is not a partisan issue since both major parties are controlled by wealthy special interests. Only the rhetoric is different.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:68
Alan Greenspan, although once a strong advocate for the gold standard, now believes he knows what the outcome of this battle will be. Is it just wishful thinking on his part? In an answer to a question I asked before the Financial Services Committee in February 2003, Chairman Greenspan made an effort to convince me that paper money now works as well as gold: “I have been quite surprised, and I must say pleased, by the fact that central banks have been able to effectively simulate many of the characteristics of the gold standard by constraining the degree of finance in a manner which effectively brought down the general price levels.” Earlier, in December 2002, Mr. Greenspan spoke before the Economic Club of New York and addressed the same subject: “The record of the past 20 years appears to underscore the observation that, although pressures for excess issuance of fiat money are chronic, a prudent monetary policy maintained over a protracted period of time can contain the forces of inflation.” There are several problems with this optimistic assessment. First, efficient central bankers will never replace the invisible hand of a commodity monetary standard. Second, using government price indexes to measure the success of a managed fiat currency should not be reassuring. These indexes can be arbitrarily altered to imply a successful monetary policy. Also, price increases of consumer goods are not a litmus test for measuring the harm done by the money managers at the Fed. The development of overcapacity, excessive debt, and speculation still occur, even when prices happen to remain reasonably stable due to increases in productivity and technology. Chairman Greenspan makes his argument because he hopes he’s right that sound money is no longer necessary, and also because it’s an excuse to keep the inflation of the money supply going for as long as possible, hoping a miracle will restore sound growth to the economy. But that’s only a dream.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:85
The panicky effort of the Fed to stimulate economic growth does produce what it considers favorable economic reports, recently citing second quarter growth this year at 3.1%. But in the footnotes, we find that military spending—almost all of which is overseas- was up an astounding 46%. This, of course, represents deficit spending financed by the Federal Reserve’s printing press. In the same quarter, after-tax corporate profits fell 3.4%. This is hardly a reassuring report on the health of our economy and merely reflects the bankruptcy of current economic policy.
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Encouraging People’s Republic Of China To Fulfill Commitments Under International Trade Agreements, Support United States Manufacturing Sector, And Establish Monetary And Financial Market Reforms
29 october 2003 2003 Ron Paul 115:7
Congress should also consider how the Chinese benefit the United States Government by holding our debt. The dollars the Chinese acquire by selling us goods and services must be returned to the United States. Since the Chinese are not buying an equivalent amount of American goods and services, they are using the dollars to finance our extravagant spending.
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A Wise Consistency
February 11, 2004 2004 Ron Paul 2:34
Judicial Review : Respect for the original intent of the Constitution is low in Washington. It’s so low, it’s virtually non-existent. This causes many foolish inconsistencies in our federal courts. The Constitution, we have been told, is a living, evolving document and it’s no longer necessary to change it in the proper fashion. That method is too slow and cumbersome, it is claimed. While we amended it to institute alcohol prohibition, the federal drug prohibition is accomplished by majority vote of the U.S. Congress. Wars are not declared by Congress, but pursued by Executive Order to enforce UN Resolutions. The debate of the pros and cons of the war come afterward — usually following the war’s failure — in the political arena, rather than before with the proper debate on a declaration of war resolution. Laws are routinely written by un-elected bureaucrats, with themselves becoming the judicial and enforcement authority. Little desire is expressed in Congress to alter this monster that creates thousands of pages each year in the Federal Register. Even the nearly 100,000 bureaucrats who now carry guns stir little controversy. For decades, Executive Orders have been arrogantly used to write laws to circumvent a plodding or disagreeable Congress. This attitude was best described by a Clinton presidential aide who bragged: “…stroke of the pen, law of the land, kinda cool!” This is quite a testimonial to the rule of law and constitutional restraint on government power. The courts are no better than the executive or legislative branches in limiting the unconstitutional expansion of the federal monolith. Members of Congress, including committee chairmen, downplay my concern that proposed legislation is unconstitutional by insisting that the courts are the ones to make such weighty decisions, not mere Members of Congress. This was an informal argument made by House leadership on the floor during the debate on campaign finance reform. In essence, they said “We know it’s bad, but we’ll let the courts clean it up.” And look what happened! The courts did not save us from ourselves.
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H. Res. 412 Honoring Men And Women Of The Drug Enforcement Administration — Part 2
3 March 2004 2004 Ron Paul 11:4
Right now, because of the policies in Afghanistan, 80 percent of Afghanistan now has been returned to the drug lords. If the drugs were worthless, there would be no incentive to promote them. But they are worth a lot of money, so inadvertently our drug war pushes the prices up, and we create the incentive for the Taliban and others to raise the poppies and send the drugs over here. Then they finance the terrorists. So it is an unintended consequence that does not make any sense. It does not have to happen.
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An Indecent Attack on the First Amendment
March 10, 2004 2004 Ron Paul 14:7
Just one year ago we saw a coalition of both left and right push through the radical Campaign Finance Reform Act, which strictly curtails the rights all Americans to speak out against particular candidates at the time of elections. Amazingly, this usurpation by Congress was upheld by the Supreme Court, which showed no concern for the restrictions on political speech during political campaigns. Instead of admitting that money and corruption in government is not a consequence of too much freedom of expression, but rather a result of government acting outside the bounds of the Constitution, this new law addressed a symptom rather than the cause of special interest control of our legislative process.
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An Indecent Attack on the First Amendment
March 10, 2004 2004 Ron Paul 14:18
- Arguing that campaign finance reform is needed to hold down government corruption by the special interests;
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Undermining First Amendment
11 March 2004 2004 Ron Paul 16:4
Next came along a coalition between right and left, and there was an attack on campaign speech with the campaign finance reform with a suspension of freedom of speech during an election period.
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Providing For Consideration Of H.R. 3717, Broadcast Decency Enforcement Act Of 2004
11 March 2004 2004 Ron Paul 17:16
Even the proponents of the commercial speech doctrine agreed that the Federal Government should never restrict political speech. Yet, this Congress, this administration, and this Supreme Court have restricted political speech with the recently enacted campaign finance reform law. Meanwhile, the Department of Justice has indicated it will use the war against terrorism to monitor critics of the administration’s foreign policy, thus chilling antiwar political speech. Of course, on many college campuses students have to watch what they say lest they run afoul of the rules of “political correctness.” Even telling a “politically incorrect” joke can bring a student up on charges before the thought police! Now, selfproclaimed opponents of political correctness want to use federal power to punish colleges that allows the expression of views they consider “unpatriotic” and/or punish colleges when the composition of the facility does not meet their definition of diversity.
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North American Development Bank
24 March 2004 2004 Ron Paul 21:2
Supporters of the NAD claim that the bank facilitates economic development and thus improves the quality of life for those living in regions where NAD finances projects. In fact, the NAD bank hinders economic development.
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The Lessons of 9/11
April 22, 2004 2004 Ron Paul 27:34
Instead, we have chaos in Iraq while the Islamists are being financed by a booming drug business from U.S.-occupied Afghanistan.
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The Lessons of 9/11
April 22, 2004 2004 Ron Paul 27:43
Huge deficits, financed by borrowing and Federal Reserve monetization, are an unsustainable policy and always lead to higher price inflation, higher interest rates, a continued erosion of the dollar’s value, and a faltering economy. Economic law dictates that the standard of living then must go down for all Americans—except for the privileged few who have an inside track on government largess—if this policy of profligate spending continues. Ultimately, the American people, especially the younger generation, will have to decide whether to languish with current policy or reject the notion that perpetual warfare and continued growth in entitlements should be pursued indefinitely.
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The Same Old Failed Policies in Iraq
June 3, 2004 2004 Ron Paul 37:13
The day is fast approaching when we no longer will be able to afford this burden. For now foreign governments are willing to loan us the money needed to finance our current account deficit, and indirectly the cost of our worldwide military operations. It may seem possible for the moment because we have been afforded the historically unique privilege of printing the world’s reserve currency. Foreigners have been only too willing to take our depreciating dollars for their goods. Economic law eventually will limit our ability to live off others by credit creation. Eventually trust in the dollar will be diminished, if not destroyed. Those who hold these trillion plus dollars can hold us hostage if it’s ever in their interest. It may be that economic law and hostility toward the United States will combine to precipitate an emotionally charged rejection of the dollar.
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The Same Old Failed Policies in Iraq
June 3, 2004 2004 Ron Paul 37:14
That’s when the true wealth of the country will become self-evident and we will no longer be able to afford the extravagant expense of pursuing an American empire. No nation has ever been able to finance excessive foreign entanglements and domestic entitlements through printing press money and borrowing from abroad.
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Praising Private Space Exploration
June 25, 2004 2004 Ron Paul 44:1
Mr. Speaker, I rise to congratulate and commend the designers, builders, sponsors, and pilot of SpaceShipOne on the occasion of its successful flight out of earth’s atmosphere on June 21, 2004. What is most remarkable about SpaceShipOne, of course, is that it is the first privately-financed and privately built vehicle to leave the Earth’s atmosphere.
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Praising Private Space Exploration
June 25, 2004 2004 Ron Paul 44:2
SpaceShipOne was designed and built by Burt Rutan and piloted by test pilot Michael W. Melvill. It was launched successfully from Mojave California, reaching a height of 100 KM (62 miles ) above the Earth’s surface. Remarkably, SpaceShipOne is entirely privately-financed, chiefly by Microsoft co-founder Paul G. Allen.
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Praising Private Space Exploration
June 25, 2004 2004 Ron Paul 44:3
According to the designers and financers of SpaceShipOne, the mission of this project is to demonstrate the viability of commercial space flight and to open the door for private space tourism. The successful completion of SpaceShipOne’s maiden voyage demonstrates that relatively modest amounts of private funding can significantly increase the boundaries of commercial space technology. It constitutes a major leap toward their goal and demonstrates that private capital and private enterprise can be applied to enormous success all on its own. Those associated with this project represent the best of our American traditions, embodied in our enterprising and pioneering spirit.
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Praising Private Space Exploration
June 25, 2004 2004 Ron Paul 44:5
With this successful maiden voyage, SpaceShipOne is now the leading contender for the $10 million Ansari X Prize, which is to be awarded to the first privately financed three-seat aircraft that reaches an altitude of 62 miles and repeats the feat within two weeks. I wish all those involved in this remarkable project the best of luck.
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Government Spending – A Tax on the Middle Class
July 8, 2004 2004 Ron Paul 52:15
This is no small matter. In just the first 24 weeks of this year the M3 money supply increased 428 billion dollars, and 700 billion dollars in the past year. M3 currently is rising at a rate of 10.5%. In the last seven years the money supply has increased 80%, as M3 has soared 4.1 trillion dollars. This bizarre system of paper money worldwide has allowed serious international imbalances to develop. We owe just four Asian countries 1.5 trillion dollars as a consequence of a chronic and staggering current account deficit now exceeding 5% of our GDP. This current account deficit means Americans must borrow 1.6 billion dollars per day from overseas just to finance this deficit. This imbalance, which until now has permitted us to live beyond our means, eventually will give us higher consumer prices, a lower standard of living, higher interest rates, and renewed inflation.
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Financing Operations, Export Financing, And Related Programs Appropriations Act, 2005
15 July 2004 2004 Ron Paul 60:6
There are two economic points that I want to make on this. When we do this and we allow tax credit and special deals for some corporations, we assume, and we will hear this in the defense of the Ex-Im Bank, and say look at the good that we do. But what they fail to ask is, where did it come from, who was denied the credit? The fact that we do not finance it does not mean it would not happen. It would happen.
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The 9-11 Intelligence Bill: More Bureaucracy, More Intervention, Less Freedom
October 8, 2004 2004 Ron Paul 77:13
This bill also increases our counterproductive practice of sending United States’ taxpayer money abroad to prop up selected foreign media, which inexplicably are referred to as “independent media.” This is an unconstitutional misuse of tax money. Additionally, does anyone believe that citizens of countries where the US subsidizes certain media outlets take kindly to, or take seriously, such media? How would Americans feel if they knew that publications taking a certain editorial line were financed by foreign governments? We cannot refer to foreign media funded by the US government as “independent media.” The US government should never be in the business of funding the media, either at home or abroad.
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:20
The value of the dollar is a much more important issue than most realize in Washington. Our current account deficit of 6% of GDP, and our total foreign indebtedness of over $3 trillion, pose a threat to our standard of living. Unfortunately, when the crisis hits our leaders will have little ability to stem the tide of price inflation and higher interest rates that will usher in a dangerous period of economic weakness. Our dependency on foreign borrowing to finance our spendthrift habits is not sustainable. We borrow $1.8 billion a day! The solution involves changing our policy with regards to foreign commitments, foreign wars, empire overseas, and the ever-growing entitlement system here at home. This change is highly unlikely without significant turmoil, and it certainly is not on the administration’s agenda for the next four years. That’s why the world is now betting against the dollar.
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:34
There are even more reasons to believe the current government status quo is unsustainable. As a nation dependent on the willingness of foreigners to loan us the money to finance our extravagance, we now are consuming 80% of the world’s savings. Though the Fed does its part in supplying funds by purchasing Treasury debt, foreign central banks and investors have loaned us nearly twice what the Fed has, to the tune of $1.3 trillion. The daily borrowing needed to support our spending habits cannot last. It can be argued that even the financing of the Iraq war cannot be accomplished without the willingness of countries like China and Japan to loan us the necessary funds. Any shift, even minor, in this sentiment will send chills through the world financial markets. It will not go unnoticed, and every American consumer will be affected.
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:36
Few in Washington comprehend the nature of the crisis. But liberal Lawrence Summers, Clinton’s Secretary of the Treasury and now president of Harvard, perceptively warns of the danger that is fast approaching. He talks of, “A kind of global balance of financial terror” that we should be concerned about. He goes on to say: “there is surely something off about the world’s greatest power being the world’s greatest debtor. In order to finance prevailing levels of consumption and investment, must the United States be as dependent as it is on the discretionary acts of what are inevitably political entities in other countries?” An economist from the American Enterprise Institute also expressed concern by saying that foreign central banks “now have considerable ability to disrupt U.S. financial markets by simply deciding to refrain from buying further U.S. government paper.”
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:37
We must remember the Soviet system was not destroyed from without by military confrontation; it succumbed to the laws of economics that dictated communism a failure, and it was unable to finance its empire. Deficit-financed welfarism, corporatism, Keynesianism, inflationism, and Empire, American style, are no more economically sound than the more authoritarian approach of the Soviets. If one is concerned with the Red/Blue division in this country and the strong feelings that exist already, an economic crisis will make the conflict much more intense.
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Introducing The Social Security Beneficiary Tax reduction Act And The Senior Citizens’ Tax Elimination Act
4 January 2005 2005 Ron Paul 3:2
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a shell game which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
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Family Education Freedom Act
26 January 2005 2005 Ron Paul 9:7
The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Parents of children in public schools may use this credit to help improve their local schools by helping finance the purchase of educational tools such as computers or to ensure their local schools can offer enriching extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services, such as tutoring, for their children.
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Regulating The Airwaves
16 February 2005 2005 Ron Paul 22:16
Even the proponents of the commercial speech doctrine agreed that the Federal Government should never restrict political speech. Yet, this Congress, this administration, and this Supreme Court have restricted political speech with the campaign finance reform law. Meanwhile, the Department of Justice has indicated it will use the war against terrorism to monitor critics of the administration’s foreign policy, thus chilling anti-war political speech. Of course, on many college campuses students have to watch what they say lest they run afoul of the rules of “political correctness.” Even telling a “politically incorrect” joke can bring a student up on charges before the thought police. Now, self-proclaimed opponents of political correctness want to use Federal power to punish colleges that allow the expression of views they consider “unpatriotic” and/or punish colleges when the composition of the facility does not meet their definition of diversity.
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The Deficit
16 March 2005 2005 Ron Paul 33:3
But I would like to make a suggestion that we are not facing primarily a budgetary crisis or a budgetary problem. I see this more as a philosophic problem, dealing more with the philosophy of government rather than thinking that we can tinker with the budget, dealing with this as a tactical problem when really it is a strategic problem. So as long as we endorse the type of government that we have and there is a willingness for the people as well the Congress to finance it, we are going to continue with this process and the frustrations are going to grow because it is just not likely that these deficits will shrink.
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The Deficit
16 March 2005 2005 Ron Paul 33:15
And that is why the gentleman from Pennsylvania is quite correct that we should be concerned about how the financial markets look at what we do. And hopefully we will be able to deal with this in a budgetary way and institute some restraints. But quite frankly I am a bit pessimistic about that. This program that we follow and this philosophy we followed prompted our Federal Reserve to create $620 billion in order to finance the system. That is the reason that the dollar becomes less valuable, because we just print too many to accommodate the politicians and the people who enjoy the excessive spending.
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Reject Taxpayer Bank Bailouts
May 4, 2005 2005 Ron Paul 46:4
Government subsidies lead to government control, as regulations are imposed on the recipients of the subsidies in order to address the moral hazard problem. This certainly is the case in banking, which is one of the most heavily regulated industries in America. However, as George Kaufman (John Smith Professor of Banking and Finance at Loyola University in Chicago and co-chair of the Shadow Financial Regulatory Committee) pointed out in a study for the CATO Institute, the FDIC’s history of poor management exacerbated the banking crisis of the eighties and nineties. Professor Kaufman properly identifies a key reason for the FDIC’s poor track record in protecting individual depositors: regulators have incentives to downplay or even cover-up problems in the financial system such as banking facilities. Banking failures are black marks on the regulators’ records. In addition, regulators may be subject to political pressure to delay imposing sanctions on failing institutions, thus increasing the magnitude of the loss.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:27
So far the American people have not yet felt the true burden of the costs of this war. Even with 1,700 deaths and 13,000 wounded, only a small percentage of Americans have suffered directly-- but their pain and suffering is growing and more noticeable every day. Taxes have not been raised to pay the bills for the current war, so annual deficits and national debt continue to grow. This helps delay the pain of paying the bills, but the consequences of this process are starting to be felt. Direct tax increases, a more honest way to finance foreign interventionism, would serve to restrain those who so cavalierly take us to war. The borrowing authority of governments permit wars to be started and prolonged which otherwise would be resisted if the true cost were known to the people from the beginning.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:28
Americans have an especially unique ability to finance our war efforts while minimizing the immediate effect. As the issuer of the world’s reserve currency, we are able to finance our extravagance through inflating our dollars. We have the special privilege of printing that which the world accepts as money in lieu of gold. This is an invitation to economic disaster, permitting an ill-founded foreign policy that sets the stage for problems for years to come. A system of money that politicians and central bankers could not manipulate would restrain those with grandiose ideas of empire.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:29
The Federal Reserve was created in 1913, and shortly thereafter the Fed accommodated the Wilsonians bent on entering WWI by inflating and deficit financing that ill-begotten involvement. Though it produced the 1921 depression and many other problems since, the process subsequently has become institutionalized in financing our militarism in the 20 th Century and already in the 21 st . Without the Fed’s ability to create money out of thin air, our government would be severely handicapped in waging wars that do not serve our interests. The money issue and the ability of our government to wage war are intricately related. Anyone interested in curtailing wartime spending and our militarism abroad is obligated to study the monetary system, through which our government seductively and surreptitiously finances foreign adventurism without the responsibility of informing the public of its cost or collecting the revenues required to finance the effort.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:30
Being the issuer of the world’s premier currency allows for a lot more abuse than a country would have otherwise. World businesses, governments, and central banks accept our dollars as if they are as good as gold. This is a remnant of a time when the dollar was as good as gold. That is no longer the case. The trust is still there, but it’s a misplaced trust. Since the dollar is simply a paper currency without real value, someday confidence will be lost and our goose will no longer be able to lay the golden egg. That’s when reality will set in and the real cost of our extravagance, both domestic and foreign, will be felt by all Americans. We will no longer be able to finance our war machine through willing foreigners, who now gladly take our newly printed dollars for their newly produced goods and then loan them back to us at below market interest rates to support our standard of living and our war effort.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:33
This ability to print the reserve currency of the world, and the willingness of foreigners to take it, causes gross distortions in our current account deficits and total foreign indebtedness. It plays a major role in the erosion of our manufacturing base, and causes the exporting of our jobs along with our dollars. Bashing foreigners, in particularly the Chinese and the Japanese, as the cause of our dwindling manufacturing and job base is misplaced. It prevents the evaluation of our own policies-- policies that undermine and increase the price of our own manufacturing goods while distorting the trade balance. Though we continue to benefit from the current circumstances, through cheap imports on borrowed money, the shaky fundamentals make our economy and financial system vulnerable to sudden and severe adjustments. Foreigners will not finance our excessive standard of living and our expensive war overseas indefinitely. It will end! What we do in the meantime to prepare for that day will make all the difference in the world for the future of freedom in this country. It’s the future of freedom in this country that is truly the legitimate responsibility of us as Members of Congress.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:39
A free society produces more wealth for more people than any other. That wealth for many years can be confiscated to pay for the militarism advocated by those who promote preemptive war. But militarism and its costs undermine the very market system that provided the necessary resources to begin with. As this happens, productivity and wealth is diminished, putting pressure on authorities to ruthlessly extract even more funds from the people. For what they cannot collect through taxes they take through currency inflation-- eventually leading to an inability to finance unnecessary and questionable warfare and bringing the process to an end. It happened to the Soviets and their military machine collapsed. Hitler destroyed Germany’s economy, but he financed his aggression for several years by immediately stealing the gold reserves of every country he occupied. That, too, was self-limited and he met his military defeat. For us it’s less difficult since we can confiscate the wealth of American citizens and the savers of the world merely by printing more dollars to support our militarism. Though different in detail, we too must face the prospect that this system of financing is seriously flawed, and our expensive policy of worldwide interventionism will collapse. Only a profound change in attitudes regarding our foreign policy, our fiscal policy, and our monetary policy will save us from ourselves.
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Belief In The Constitution Is A Conservative View
14 June 2005 2005 Ron Paul 60:6
Of course, I did mention in my prepared text that declaration of war is important but also if we would restrain, as the Constitution does, the monetary authorities from printing money at will to finance wars like this, I think we would be fighting a lot less wars.
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Amendment No. 10 Offered By Mr. Paul
15 June 2005 2005 Ron Paul 63:4
Over the last 10 years, there were at least five meetings in the United Nations that talked and met for the sole purpose of devising a global tax. Not too long ago the G8 met, and France and Germany proposed a global tax on airline tickets. There have been other proposals on taxes on financial services. Hans Eichel, Germany’s finance minister, stated, “No one in the G8 has said anything against it. It is now on the agenda.”
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Introducing The Comprehensive Health Care Act
27 June 2005 2005 Ron Paul 75:3
Furthermore, the predominance of third- party payers means there is effectively no market for individual health insurance policies, thus those whose employers cannot offer them health benefits must either pay exorbitant fees for health insurance or do without health insurance. Since most health care providers cater to those with health insurance, it is very difficult for the uninsured to find health care that meets their needs at an affordable price. The result is many of the uninsured turn to government-funded health care systems, or use their local emergency room as their primary care physician. The result of this is declining health for the uninsured and increased burden on taxpayer-financed health care system.
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Why We Fight
September 8, 2005 2005 Ron Paul 95:12
Of course the routine canard for our need to fight, finance, and meddle around the world ever since the Korean War was repeated incessantly: UN Resolutions had to be enforced lest the United Nations be discredited. The odd thing was that on this occasion the United Nations itself did everything possible to stop our pre-emptive attack. And as it turned out, Saddam Hussein was a lot closer to compliance than anyone dreamed. It wasn’t long before concern for the threat of Saddam Hussein became near hysterical, drowning out any reasoned opposition to the planned war.
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Why We Fight
September 8, 2005 2005 Ron Paul 95:50
Congress at any time can prevent or stop all undue foreign entanglements pursued by the executive branch merely by refusing to finance them. The current Iraq war, now going on for 15 years, spans the administration of three presidents and many congresses controlled by both parties. This makes Congress every bit as responsible for the current quagmire as the president. But the real problem is the acceptance by our country as a whole of the principle of meddling in the internal affairs of other nations when unrelated to our national security. Intervention, no matter how well intended, inevitably boomerangs and comes back to haunt us. Minding our own business is not only economical; it’s the only policy that serves our national security interests and the cause of peace.
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Introducing The Improve Interoperable Communications For First Responders Act
20 october 2005 2005 Ron Paul 107:3
Rather than simply further burdening taxpayers, or increasing the already skyrocketing national debt, my legislation is financed through cuts in corporate welfare and foreign aid programs, which subsidize large corporations and even American businesses’ overseas competitors such as the Export-Import Bank use of taxpayer money to underwrite trade with countries such as Communist China. It is time for the Federal Government to begin prioritizing spending by cutting unnecessary programs that benefit powerful special interests in order to met our constitutional responsibilities to ensure America’s first responders can effectively respond to terrorists’ attacks.
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Amendment No. 6 Offered By Mr. Paul — Part 1
26 October 2005 2005 Ron Paul 109:9
This housing bubble, a housing program that we are starting up, how do we finance it? Well, we tax the GSEs. Instead of arguing the case for the marketplace and letting people earn money legitimately without subsidies, what we do, we keep allowing the system to continue. They do make profits, and then we tax them. We are talking about an additional tax, and this might very well be the reason the administration has come out against this bill, because of this new tax.
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The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:35
In the short run, the issuer of a fiat reserve currency can accrue great economic benefits. In the long run, it poses a threat to the country issuing the world currency. In this case, that is the United States. As long as foreign countries take our dollars in return for real goods, we come out ahead. This is a benefit many in Congress fail to recognize as they bash China for maintaining a positive trade balance with us. But this leads to a loss of manufacturing jobs to overseas markets as we become more dependent on others and less self-sufficient. Foreign countries accumulate our dollars due to their high savings rates and graciously lend them back to us at low interest rates to finance our excessive consumption and our wars.
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The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:51
But the truth is that paying the bills for this aggressive intervention is impossible the old-fashioned way, with more taxes, more savings, and more production by the American people. Much of the expense of the Persian Gulf War in 1991 was shouldered by many of our willing allies. That is not so today. Now more than ever, the dollar hegemony, its dominance as the world’s reserve currency, is required to finance our huge war expenditures. This $2 trillion never-ending war must be paid for one way or another. Dollar hegemony provides the vehicle to do just that.
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The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:57
Ironically, dollar superiority depends on our strong military, and our strong military depends on the dollar. As long as foreign recipients take our dollars for real goods and are willing to finance our extravagant consumption and militarism, the status quo will continue, regardless of how huge our foreign debt and current account deficit become.
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The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:91
The system of special interest government that has evolved over the last several decades has given us a national debt of over $8 trillion, a debt that now expands by over $600 billion every year. Our total obligations are estimated to be between $15 trillion and $20 trillion. Most people realize that the Social Security system, the Medicare system and the new prescription drug program are unfunded. Thousands of private pension funds are now being dumped on the U.S. Government and American taxpayers. We are borrowing over $700 billion each year from foreigners to finance this extravagance, and we now qualify as the greatest international debtor Nation in history.
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Debt Addiction
1 March 2006 2006 Ron Paul 6:4
Our ever-increasing government expenditures, which perpetuate a runaway welfare/warfare state, simply are not sustainable. The fallacy comes from the belief that government can provide for our needs and manage a worldwide empire. In truth, government can provide benefits only by first taking resources from productive American citizens or borrowing against the future. Inevitably, government programs exceed the productive capacity of the people or their willingness to finance wasteful spending.
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Introduction Of The Sunshine In Monetary Policy Act
7 March 2006 2006 Ron Paul 10:2
The Federal Reserve Board has recently announced it will stop reporting M3, thus depriving Congress and the American people of the most comprehensive measure of the money supply. The cessation of Federal Reserve’s weekly M3 report will make it more difficult for policymakers, economists, investors, and the general public to learn the true rate of inflation. As Nobel laureate Milton Friedman famously said, “inflation is always and everywhere a monetary phenomenon.” Therefore, having access to a comprehensive measure of the money supply like M3 is a vital tool for those seeking to track inflation. Thorsten Polleit, honorary professor at HfB-Business School of Finance and Management, in his article “Why Money Supply Matters” posted on the Ludwig von Mises Institute’s website mises.org, examined the relationship between changes in the money supply and inflation and concluded that “money supply signals might actually be far more important for inflation — even in the short-term — than current central bank practice suggests,” thus demonstrating the importance of the M3 aggregate.
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Amendment No. 9 Offered By Mr. Paul — Part 2
16 March 2006 2006 Ron Paul 18:2
Mr. PAUL. Mr. Chairman, my amendment is offered in an attempt to save some money. If my amendment were to pass, we would cut $500 million from this appropriation. Everybody knows that this is a huge appropriations bill and that it is a supplemental. It does not fall under the category of the budget rules. It is $92 billion. It involves the finances of our military approach to our foreign policy around the world, which is two-thirds of this funding. The other third, 19 or $20 billion is for domestic use. It is a huge sum of money. And we are doing this at a time when we are running a deficit, our national debt at least is going up over $600 billion a year, and we are concerned this week about raising the national debt limit to over $9 trillion.
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Amendment No. 9 Offered By Mr. Paul — Part 2
16 March 2006 2006 Ron Paul 18:8
But my amendment, the way it works, emphasizes mostly cutting the militarism and the type of foreign policy that we finance around the world that has so many ramifications and unintended consequences and so much blow-back, that it literally hurts our national defense and ends up costing us so much more money.
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:32
Our offer of political and financial assistance to foreign and domestic individuals who support the overthrow of the current Iranian government is fraught with danger and saturated with arrogance. Imagine how Americans citizens would respond if China supported similar efforts here in the United States to bring about regime change. How many of us would remain complacent if someone like Timothy McVeigh had been financed by a foreign power? Is it any wonder the Iranian people resent us and the attitude of our leaders?
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:36
Secretary of State Rice recently signaled a sharp shift toward confrontation in Iran’s policy as she insisted on $75 million to finance propaganda, through TV and radio broadcasts into Iran. She expressed this need because of the so-called “aggressive” policies of the Iranian government. We are 7,000 miles from home, telling the Iraqis and the Iranians what kind of government they will have, backed up by the use of our military force, and we call them the aggressors? We fail to realize the Iranian people, for whatever faults they may have, have not in modern times invaded any neighboring country. This provocation is so unnecessary, costly and dangerous.
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:52
Excessive spending to finance the war causes deficits to explode. There are never enough tax dollars available to pay the bills, and since there are not enough willing lenders and dollars available, the Federal Reserve must create new money out of thin air and new credit for buying Treasury bills to prevent interest rates from rising too rapidly. Rising rates would tip off everyone that there are not enough savings or taxes to finance the war.
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:53
This willingness to print whatever amount of money the government needs to pursue the war is literally inflation. Without a fiat monetary system, wars would be very difficult to finance since the people would never tolerate the taxes required to pay for it. Inflation of the money supply delays and hides the real cost of war. The result of the excessive creation of new money leads to the higher cost of living everyone decries and the Fed denies. Since taxes are not levied, the increase in prices that results from printing too much money is technically the tax required to pay for the war.
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:58
Though many Americans are starting to feel the economic pain of paying for this war through inflation, the real pain has not yet arrived. We generally remain fat and happy with a system of money and borrowing that postpones the day of reckoning. Foreigners, in particular the Chinese and Japanese, gladly participate in the charade. We print the money and they take it, as do the OPEC Nations, and provide us with consumer goods and oil. Then they loan the money back to us at low interest rates, which we use to finance the war and our housing bubble and excessive consumption. This recycling and perpetual borrowing of inflated dollars allow us to avoid the pain of high taxes to pay for our war and welfare spending. It is fine until the music stops and the real costs are realized, with much higher interest rates and significant price inflation. That is when outrage will be heard and the people will realize we cannot afford the humanitarianism of the neo-conservatives.
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Jack Abramoff Scandal
3 May 2006 2006 Ron Paul 33:3
This legislation further violates the First Amendment by setting up a means of secretly applying unconstitutional campaign finance laws to “Section 527” organizations. This is done by a provision in the rule under which this bill is brought before us that automatically attaches the “527” legislation to H.R. 4975 if H.R. 4975 passes the House and is sent to the Senate for a conference.
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Amending Title 49, United States Code
6 June 2006 2006 Ron Paul 42:3
Some opponents of H.R. 5449 complain that the air traffic controllers are overpaid. However, since the air traffic control system is government controlled and government financed, the wages of air traffic controllers are not set by the market. Instead, these wages are set by political and bureaucratic fiat. Absent a market, it is imposable to say the air traffic controllers’ wages are too high or too low. In fact, given the importance of air traffic control, it is possible that, in a free market, some air traffic controllers may have higher incomes than they do now. One thing I can say for sure is that air traffic controllers would still have their jobs if the Federal government were limited to its constitutional functions since air traffic controllers perform a function that would be necessary in a free market.
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Whom to Blame
19 July 2006 2006 Ron Paul 66:26
So even if you totally disagree with our aggressive empire building and policing the world, let me tell you, I am going to win the argument, because we are running out of money. We are in big debt, and we are borrowing it. We borrowed $3 billion a day from countries like China and Japan and Saudi Arabia to finance this horrendous debt. And it won’t be, it can’t be continued. The dollar will eventually weaken. You are going to have horrendous inflation. Interest rates are going to go up, and it is going to be worse than the stagflation of the 1970s.
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Whom to Blame
19 July 2006 2006 Ron Paul 66:28
So we are facing a crisis that is liable to escalate and get out of control in the Middle East. At the same time, it has a bearing on our finances, because when it contributes to the deficit, there is a limit to how much foreigners will loan to us. We have to print the money. We have to go to the Fed, create new money. That is the inflation.
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Big-Government Solutions Don’t Work
7 september 2006 2006 Ron Paul 74:62
It is estimated that over 12,000 fighters were trained in the camps we set up in Afghanistan. They were taught how to make bombs, carry out sabotage and use guerrilla war tactics, and now we are on the receiving end of this U.S.-financed program, hardly a good investment. It is difficult to understand why our policymakers aren’t more cautious in their effort to police the world once they realize how unsuccessful we have been. It seems they always hope that the next time our efforts won’t come flying back in our face.
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Senior Citizens’ Improved Quality Of Life Act
19 September 2006 2006 Ron Paul 79:3
Repealing all taxes on Social Security benefits. Since Social Security benefits are financed with tax dollars, taxing these benefits is an example of double taxation. The benefits tax also reduces Social Security benefits by subterfuge.
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Military Personnel Financial Services Protection Act
20 September 2006 2006 Ron Paul 82:5
Mr. Speaker, I am pleased to introduce the Enhanced Options for Rural Health Care Act. This legislation allows critical access hospitals to use beds designated for critical access use, but currently not being used for that purpose, for assisted living services financed by private payments.
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Introduction Of The Enhanced Options For Rural Health Care Act
25 September 2006 2006 Ron Paul 85:1
Mr. PAUL. Mr. Speaker, on Thursday, September 21, I introduced the Enhanced Options for Health Care Act (H.R. 6154). This legislation allows critical access hospitals to use beds designated for critical access use, but currently not being used for that purpose, for assisted living services financed by private payments.
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Introducing The Social Security Beneficiary Tax reduction Act And The Senior Citizens’ Tax Elimination Act
4 January 2007 2007 Ron Paul 1:2
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a shell game which allows Members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
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Escalation Is Hardly The Answer
11 January 2007 2007 Ron Paul 12:4
Astonishingly, American taxpayers now will be forced to finance a multi- billion dollar jobs program in Iraq. Suddenly the war is about jobs. We export our manufacturing jobs to Asia, and now we plan to export our welfare jobs to Iraq, all at the expense of the poor and the middle class here at home.
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Statement On The Iraq War Resolution
14 February 2007 2007 Ron Paul 26:3
As such, it is not actually a vote against a troop surge. A real vote against a troop surge is a vote against the coming supplemental appropriation which finances it. I hope all my colleagues who vote against this surge today will vote against the budgetary surge when it really counts, when we vote on the supplemental.
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Introduction Of The Family Education Freedom Act
14 february 2007 2007 Ron Paul 29:7
The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Parents of children in public schools may use this credit to help improve their local schools by helping finance the purchase of educational tools such as computers or to ensure their local schools can offer enriching extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services, such as tutoring, for their children.
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Introducing The Enhanced Options For Rural Health Care Act
17 April 2007 2007 Ron Paul 41:1
Mr. PAUL. Madam Speaker, I raise to introduce the Enhanced Options for Rural Health Care Act. This legislation allows critical access hospitals to use beds designated for critical access use, but currently not being used for that purpose, for assisted living services financed by private payments.
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Statement On Chinese Currency
9 May 2007 2007 Ron Paul 50:6
The fact that the US dollar is the principal reserve currency of the world gives us a benefit that others do not enjoy. It allows us to export paper dollars and import goods manufactured in countries with cheap labor. It also allows us to finance the welfare/warfare state with cheap loans from China and Japan. It's a good deal for us but according to economic law must come to an end, and the end will be messy for the US consumer and for world trade.
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Introduction Of The Sunshine In Monetary Policy Act
15 June 2007 2007 Ron Paul 66:2
The Federal Reserve Board ceased reporting M3 on March 22, 2006, thus depriving Congress and the American people of the most comprehensive measure of the money supply. The cessation of the Federal Reserve’s weekly M3 report will make it more difficult for policymakers, economists, investors, and the general public to learn the true rate of inflation. As Nobel laureate Milton Friedman famously said, “inflation is always and everywhere a monetary phenomenon.” Therefore, having access to a comprehensive measure of the money supply like M3 is a vital tool for those seeking to track inflation. Thorsten Polleit, honorary professor at HfB-Business School of Finance and Management, in his article “Why Money Supply Matters” posted on the Ludwig von Mises Institute’s Web site mises.org, examined the relationship between changes in the money supply and inflation and concluded that “money supply signals might actually be far more important for inflation — even in the short-term — than current central bank practice suggests,” thus demonstrating the importance of the M3 aggregate.
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Opening Statement Committee on Financial Services Paulson Hearing
20 June 2007 2007 Ron Paul 71:5
The recent sharp rise in interest rates may well be signaling the end to the painless easy money decade that has allowed us to finance our extravagant welfare/warfare spending with minimal productive effort and no savings. Monetary inflation and foreign borrowing have allowed us to live far beyond our means – a type of monetary arrangement that always comes to a painful end.
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Opening Statement Committee on Financial Services Paulson Hearing
20 June 2007 2007 Ron Paul 71:12
Monetary depreciation is clearly a sinister tax placed on the unsuspecting poor. Too many well meaning individuals falsely believe that deficit financed assistance programs can help the poor, while instead the results are opposite.
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Statement before the Financial Services Committee – Humphrey Hawkins Prequel Hearing
17 July 2007 2007 Ron Paul 76:5
But prices do not just apply to goods, they also apply to the price of labor, or wages. Wage raises are often indexed to government CPI figures, which are notoriously prone to manipulation. While official government figures show a CPI under 3%, according to the methods used when CPI was first calculated the current rate of inflation is over 10%. What this means is that while wages will remain stable in real terms, the price of goods and services will increase at a faster rate, leading to a decrease in the real standard of living. The Fed's loose money policy then leads to the lure of easy credit, which will hook more and more families, who will find themselves falling deeper and deeper into debt to finance their lifestyles.
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Introducing The Comprehensive Health Care Act
2 August 2007 2007 Ron Paul 86:3
Furthermore, the predominance of third- party payers means there is effectively no market for individual health insurance polices, thus those whose employers cannot offer them health benefits must either pay exorbitant fees for health insurance or do without health insurance. Since most health care providers cater to those with health insurance, it is very difficult for the uninsured to find health care that meets their needs at an affordable price. The result is many of the uninsured turn to government-funded health care systems, or use their local emergency room as their primary care physician. The result of this is declining health for the uninsured and increased burden on taxpayer-financed health care system.
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PROTECTING THE MEDICAID SAFETY NET ACT OF 2008
22 April 2008 2008 Ron Paul 25:3
According to some estimates, failure to implement the proposed regulations could cost the already financially fragile Medicaid system as much as 10 billion over the next several years. Yet, the sponsors of this bill refuse to make a serious effort to address these costs. Mr. Speaker, instead of rushing H.R. 5613 into law, we should be looking for ways to shore up Medicaid by making cuts in other, lower priority programs, using those savings to ensure the short-term fiscal stability of federal entitlement programs while transitioning to a more stable means of providing health care for low-income Americans. I have been outspoken on the areas I believe should be subject to deep cuts in order to finance serious entitlement reform that protects those relying on these programs. I will not go into detail on these cuts, although I will observe that in recent weeks this Congress has authorized billions of new foreign aid spending, yet today we are told we cannot find the money to address Medicaid’s long-term financial imbalances.
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MEDICARE IMPROVEMENTS FOR PATIENTS AND PROVIDERS ACT OF 2008
24 June 2008 2008 Ron Paul 39:5
Instead of simply pretending we can delay the day of reckoning by giving CMS more money and power, we should be looking for ways to shore up Medicare by making cuts in other, lower priority programs, using those savings to ensure the short-term fiscal stability of Federal entitlement programs while transitioning to a more stable means of providing health care for senior citizens. I have been outspoken on the areas I believe should be subject to deep cuts in order to finance serious entitlement reform that protects those relying on these programs. I will not go into detail on these cuts, although I will observe that today the House Committee on Financial Services is planning to authorize billions of new foreign aid spending, perhaps some of those billions might be better spent reforming the Medicare system.
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Statement: “Something Big is Happening”
9 July 2008 2008 Ron Paul 42:3
America , with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.
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CONSOLIDATED SECURITY, DISASTER ASSISTANCE, AND CONTINUING APPROPRIATIONS ACT, 2009
24 September 2008 2008 Ron Paul 63:2
I would not object to many of the items in this bill if they were offset by reductions on other, lower priority, programs. For example, I would support the disaster relief package if the package were offset by reductions in other spending, particularly reductions in our overseas commitments. Unfortunately, H.R. 2638 not only fails to reduce spending to finance disaster aid; it attaches money for the country of Georgia onto the disaster aid package. Georgia is not receiving this money because it was affected by a natural disaster but because it was involved in a military conflict with Russia —which was started by Georgia! It is an insult to the American people to divert money that could have gone to help the victims of Hurricane Ike to promote interference in a conflict that in no way threatens the security of the American people.
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The Austrians Are Right
November 20, 2008 2008 Ron Paul 71:8
Similar mistakes were made in the 1930s and ushered in the age of the New Deal, the Fair Deal, the Great Society and the supply-siders who convinced conservatives that deficits didn’t really matter after all, since they were anxious to finance a very expensive deficit-financed American empire.
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INTRODUCING THE SOCIAL SECURITY BENEFICIARY TAX REDUCTION ACT AND THE SENIOR CITIZENS’ TAX ELIMINATION ACT
January 6, 2009 2009 Ron Paul 1:2
Since Social Security benefits are financed with tax dollars, taxing these benefits is yet another example of double taxation. Furthermore, “taxing” benefits paid by the government is merely an accounting trick, a shell game which allows members of Congress to reduce benefits by subterfuge. This allows Congress to continue using the Social Security trust fund as a means of financing other government programs, and masks the true size of the federal deficit.
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Statement on H Res 34, Recognizing Israel’s right to defend itself against attacks from Gaza, Reaffirming the United States strong support for Israel, and supporting the Israeli-Palestinian peace process
January 9, 2009 2009 Ron Paul 7:7
During the 1980s, we were allied with Osama bin Laden and we were contending with the Soviets. It was at that time our CIA thought it was good if we radicalize the Muslim world. So we finance the Madrassas school to radicalize the Muslims in order to compete with the Soviets.
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LIVING BENEATH OUR MEANS
January 21, 2009 2009 Ron Paul 10:9
This crisis we’re in is destined to get much worse because the real cause is not acknowledged. Not only are the corrections delayed and distorted, additional problems are yet to be dealt with – the commercial property bubble, the insolvent retirement funds, both private and public, state finances, and the university trust funds. For all these problems, only massive currency inflation is offered by the Fed. The real concern ought to be for a dollar crisis, which will come if we don’t change our ways.
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THE END IS NOT NEAR
March 4, 2009 2009 Ron Paul 21:8
The war in Afghanistan and Pakistan will be much bigger, unless the dollar follows the path of the dollar-based world financial system and collapses into runaway inflation. In this case, the laws of economics and the realities of history will prove superior to the madness of maintaining a world empire financed by scraps of paper.
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FAMILY EDUCATION FREEDOM ACT
April 2, 2009 2009 Ron Paul 43:7
The Family Education Freedom Act also benefits parents who choose to send their children to public schools. Parents of children in public schools may use this credit to help improve their local schools by helping finance the purchase of educational tools such as computers or to ensure their local schools can offer enriching extracurricular activities such as music programs. Parents of public school students may also wish to use the credit to pay for special services, such as tutoring, for their children.
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AMERICA’S TREASURY IS BARE
May 14, 2009 2009 Ron Paul 54:9
The Soviet system collapsed because they couldn’t afford it. Their economic system was a total failure. We did not have to fight the Soviets. Even though they were a nuclear power, they collapsed and disintegrated. And that is what we have to be concerned about, because we cannot continue to finance this system and pursue a policy which endangers us.
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Statement at Financial Services Committee Hearing
July 21, 2009 2009 Ron Paul 82:1
The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit, created out of thin air, can provide sustained economic growth has delivered this crisis to us. Instead of economic growth and stable prices it has given us a system of government and finance that now threatens the world financial and political institutions.
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MORE GOVERNMENT WON’T HELP
September 23, 2009 2009 Ron Paul 90:18
Number 15, there must be more competition for individuals entering into the medical field. Licensing strictly limits the number of individuals who can provide patient care. A lot of problems were created in the 20th century as a consequence of the Flexner Report in 1910, which was financed by the Carnegie Foundation and strongly supported by the AMA. Many medical schools were closed, and the number of doctors was drastically reduced. The motivation was to close down medical schools that catered to women, minorities, and especially homeopathy. We continue to suffer from these changes, which were designed to protect physicians’ income and promote allopathic medicine over the natural cures and prevention of homeopathic medicine.
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Afghanistam Part 3
November 18, 2009 2009 Ron Paul 98:2
I opened my remarks talking about Barbara Tuchman’s “The March of Folly.” We are on the same course. I would say it’s time to march home. I’m not for sending any more troops. It is very clear in my mind that if the job isn’t getting done and we don’t know what we’re there for, I would say, you know, it’s time to come home, because I fear – and it’s been brought up. Congressman MCGOVERN has brought it up, and everybody’s talked about the finances of this because it is known that all great nations, when they spread themselves too thinly around the world, they go bankrupt. And that is essentially what’s happened to the Soviet system. They fell apart for economic reasons.
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- Paul's legislation focuses on individual liberty
25 August 1997 Texas Straight Talk 25 August 1997 verse 16 ... Cached
The Financial Freedom Act is a step in the right direction, the direction of cutting taxes and regulations to the benefit of all Americans, regardless of where they live, how much money they make, or how they manage their finances. And while cutting taxes and regulations is always the morally and constitutionally correct position to take, this legislation has the added effect of being a direct, financially positive benefit to every American.
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- US shouldn't cast stones with Religious Persecution
06 October 1997 Texas Straight Talk 06 October 1997 verse 5 ... Cached
So I suppose I could say I have good news and bad news this week. The good news is, the Ex-Im Bank no longer exists. The bad news is, Congress just changed its name - but the unconstitutional functions remain, despite the fact the bank is now technically out of "authorization." According to the legislation which created the corporate welfare mechanism we know as the Ex-Im Bank, the organization had to be re-authorized by midnight, September 30. But because of partisan wrangling over who is the bigger violator of campaign finance laws, the re-authorizing legislation was not considered. So while Congress will likely vote the bank back into official existence this week, for at least a couple days we are technically without Ex-Im.
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- Communist China shouldn't be financed by US
10 November 1997 Texas Straight Talk 10 November 1997 verse 2 ... Cached
Communist China shouldn't be financed by US
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- Communist China shouldn't be financed by US
10 November 1997 Texas Straight Talk 10 November 1997 verse 8 ... Cached
Of the numerous measures which came before the House of Representatives late in the week, perhaps the best was one discussed and voted upon Thursday night. While it was not as strong as the measure I introduced, by passing overwhelmingly, it signals a changing attitude in Congress. Simply, the measure calls on the United States' representatives on the World Bank and other international governmental bodies to begin voting against giving China loans and subsidies. At present, China receives more than $4 billion from those organizations, which are themselves financed heavily by the United States.
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- Congress '97: more taxes, more spending, more big-government
01 December 1997 Texas Straight Talk 01 December 1997 verse 9 ... Cached
If it had stopped there, maybe it would not have been so bad. But at every turn, this Congress has voted, directly or indirectly, to increase taxes. Of course, it was often sold - if mentioned at all - as "revenue generation" for government, or, as "closing a loophole." But the bottom line is this: Americans are going to be paying more taxes this year than last year, to finance a bigger government with more unconstitutional programs.
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Never sacrifice liberty for "campaign reform"
02 March 1998 Texas Straight Talk 02 March 1998 verse 5 ... Cached
Despite the rhetoric, the proposed "campaign finance reforms" have little to do with liberty, freedom and democracy, and much to do with narrowing the choices available to the American people and limiting their ability to participate in the free exchange of ideas. And above all else, these "reforms" are designed to preserve the status quo and protect those in power. To maintain their authority, many in Congress are willing to limit the choices of Americans and trample First Amendment rights.
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Never sacrifice liberty for "campaign reform"
02 March 1998 Texas Straight Talk 02 March 1998 verse 6 ... Cached
I recently asked to come before the House Oversight Committee to discuss campaign finance reform as part of a panel. Congressman after congressman presented their ideas to restrict the American people and limit participation in the political process. They offered proposals requiring that the American taxpayer bear the burden of funding the campaigns of all federal candidates (of course, not all candidates would be federally funded, it was quickly added, only those who are deemed "viable" by the government).
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Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 12 ... Cached
For the United States, the most important thing Congress can do is recognize that further taxing American workers to finance a bail-out is the worst policy of all for us to pursue.
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Campaign reform should encourage choice
15 June 1998 Texas Straight Talk 15 June 1998 verse 5 ... Cached
The debate, of course, is over a package of legislation referred to as "campaign finance reform." There is a correct recognition of a serious problem in our nation: the undue influence of "big money" special interests attempting to buy - or at least rent - politicians.
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Campaign reform should encourage choice
15 June 1998 Texas Straight Talk 15 June 1998 verse 7 ... Cached
The real origin of the campaign finance problem is the expanded role of the federal government. The simple truth is that people are willing to spend a lot of money to influence the outcome of elections because the federal government has so much power. With that in mind, it is obvious that the proper solution to the issue is to greatly reduce the role of government. By drastically reducing the power lawmakers maintain over virtually every aspect of citizen's lives, the influence enjoyed by campaign contributors, lobbyists and political action committees would quickly dissipate.
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The problem is the currency
21 September 1998 Texas Straight Talk 21 September 1998 verse 10 ... Cached
Foreign Central Banks for years have been willing holders of our dollars, helping to finance our big-spending ways, by buying more dollars than our own central bank. Foreign central banks, however, have begun dumping American dollars, and as this accelerates, pressure will increase on our economy.
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The problem is the currency
21 September 1998 Texas Straight Talk 21 September 1998 verse 17 ... Cached
Congress has an explicit responsibility in the area of money and finance and we must assume this responsibility. Manipulating the money supply with the pretense of helping ourselves is unacceptable and destructive. Before our economy is lost, we should work diligently to restore soundness to our monetary policy.
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Victory should be call to action
08 March 1999 Texas Straight Talk 08 March 1999 verse 6 ... Cached
These proposed regulations, which I have written about for almost a year, would virtually eliminate any vestiges of privacy remaining in our financial system. In addition to subverting the Constitution's Fourth and Fifth Amendment protections, these regulations would -- if enacted -- wreak havoc on our system of finance. Banks would be required to monitor every transaction of its customers, create detailed profiles based on that monitoring, and then notify federal agencies any time a customer deviated -- even slightly -- from that profile. All the records would be accessible at any time to the federal government.
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Free trade makes sense
07 June 1999 Texas Straight Talk 07 June 1999 verse 11 ... Cached
The bottom-line of both options, of course, is higher taxes for Americans. Higher taxes to finance the subsidies, or higher taxes on incoming products (and make no mistake, a tariff is a tax, paid by the American consumer).
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Campaign reform misses target
12 July 1999 Texas Straight Talk 12 July 1999 verse 4 ... Cached
Like a bad penny, campaign finance reform is again being pushed as the panacea to the problems in America. And make no doubt about it, there are very serious problems emanating from Washington, DC, which can be traced to the people who hold public office.
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Campaign reform misses target
12 July 1999 Texas Straight Talk 12 July 1999 verse 7 ... Cached
Those pushing finance reform argue the fault rests only with those who are trying to influence government; never is fault assigned, of course, to those congressmen who create the environment that pressures the system to generate abuse. Members of Congress thereby avoid assuming responsibility for their own acts and instead blame those who exert pressure on Congress through the political process, despite the fact that political participation is among the most basic of rights bestowed on all Americans.
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Campaign reform misses target
12 July 1999 Texas Straight Talk 12 July 1999 verse 8 ... Cached
All will agree that it is shameful for an elected official to capitulate to well-funded special interest groups. Unwilling to act ethically on their own, politicians will clamor for a system that diminishes the need to persuade individuals and groups to donate money to their campaigns. Instead of persuasion, they endorse coercing taxpayers to finance campaigns. This only changes the special interest groups that control government policy. Instead of voluntary groups making their own decisions with their own money, politicians and bureaucrats dictate how political campaigns will be financed and run.
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Campaign reform misses target
12 July 1999 Texas Straight Talk 12 July 1999 verse 10 ... Cached
The losers include independent and third party candidates, as well as those who believe it is immoral to force people to finance their campaigns.
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Taking the Next Step
29 November 1999 Texas Straight Talk 29 November 1999 verse 10 ... Cached
In addition to these important pieces of legislation I have introduced a number of bills designed to cut taxes on American families. Next week, I will spend more time outlining the importance of that body of legislation. Moreover, my first bill introduced this Congress was the "Social Security Preservation Act," designed to take all Social Security receipts out of the hands of the politicians and put them into a separate interest bearing account that could only be used for the purposes which those funds were taken from the taxpayers, namely the provision of public pensions through the Social Security system. This is something that everybody now claims, at least rhetorically, to support, yet still we see Social Security dollars being used to finance welfare and pork barrel spending as well as foreign aid and overseas deployment of troops in Kosovo, the Middle East and elsewhere.
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Electoral Follies
03 April 2000 Texas Straight Talk 03 April 2000 verse 8 ... Cached
In trying to conjure up what he calls, "a controlling legal authority," Gore has proposed not campaign finance reforms, but rather campaign restrictions. Forgetting for the moment that it would take an awful lot of trips to the Buddhist Temple to raise the $7.1 billion dollars that Gore seeks for this endowment, let me just address how this money would be spent.
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True Free Trade Benefits Texas Farmers
03 July 2000 Texas Straight Talk 03 July 2000 verse 7 ... Cached
"Nevertheless, the Nethercutt agreement is beneficial, but not perfect. I introduced a more comprehensive bill in March 1999 (H.R. 1181). My bill would have removed trade restrictions with Cuba completely, so that all types of U.S. products could be exported. In addition, my bill prohibited any federal assistance or taxpayer subsidies to Cuba. Also, I would allow American banks to finance sales to Cuba (or any other nation), so that Texas farmers would not have to seek financing from foreign banks. My bill would have created true free trade with Cuba, with no restrictions and no subsidies by the federal government. Still, the current agreement represents an endorsement of many of the principles contained in my bill, and I support it accordingly.
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Reforming Social Security to Protect Present and Future Senior Citizens
28 August 2000 Texas Straight Talk 28 August 2000 verse 6 ... Cached
The second reform we must make is to stop taxing Social Security benefits. Seniors already have paid income and payroll taxes throughout their working lives. Social Security benefits are financed by tax dollars, so any tax imposed on benefits is simply another form of double taxation. Furthermore, "taxing" benefits is merely an accounting trick, which allows Congress to reduce benefits without honestly announcing its intentions. Prior to 1984, Social Security benefits were exempt from federal income taxes. In 1993, the current administration successfully passed legislation allowing up to 85% of benefits to be taxed (up from 50%). I introduced legislation to repeal this increase in 1997, and earlier this year I voted for the "Social Security Benefits Tax Relief Act" to repeal the increase, which was successful in the House. More importantly, I cosponsored H.R. 761, which would eliminate all taxes on Social Security benefits. I intend to continue my efforts to convince my colleagues and the administration to end this very unfair tax.
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Local Control is the Key to Education Reform
04 September 2000 Texas Straight Talk 04 September 2000 verse 6 ... Cached
The $3,000 tax credit will make better education affordable to parents who would choose to send their children to a private school, but cannot because of the enormous tax burden imposed by Washington. Also, parents who wish to send their children to local public schools may use their credit dollars to finance the purchase of educational tools or fund extracurricular programs.
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"Campaign Finance Reform" Serves Entrenched Interests in Washington
09 April 2001 Texas Straight Talk 09 April 2001 verse 2 ... Cached
"Campaign Finance Reform" Serves Entrenched Interests in Washington
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"Campaign Finance Reform" Serves Entrenched Interests in Washington
09 April 2001 Texas Straight Talk 09 April 2001 verse 3 ... Cached
Last week the Senate narrowly passed the highly publicized McCain-Feingold campaign finance bill. I certainly understand that many Americans are tired of the corruption in Washington, where special interest lobbies pursue their agendas at the expense (literally) of the nation's taxpayers. Everyone knows that politicians use federal spending to reward lobbies, certain constituencies, and favored individuals. However, we must recognize that the McCain bill places restrictions only on individuals, not politicians. Politicians will continue to tax and spend, meaning they will continue to punish some productive Americans while rewarding others with federal largesse. The same vested special interests will not go away, and the same influence peddling will happen every day on Capitol Hill. The reason is very simple: when the federal government redistributes trillions of dollars from some Americans to others, countless special interests inevitably will fight for the money. The rise in corruption in Washington simply mirrors the rise in federal spending. The problem is not with campaigns, but rather with the steady shift from a relatively limited federal government to a virtually socialist system intent on huge redistributions of wealth.
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"Campaign Finance Reform" Serves Entrenched Interests in Washington
09 April 2001 Texas Straight Talk 09 April 2001 verse 4 ... Cached
We cannot forget that the Constitution grants Congress only limited enumerated powers, and no authority to regulate campaigns is provided. In fact, Article II expressly authorizes the regulation of elections, so the omission of any mention of campaigns is glaring. Questions have been raised about the constitutionality of campaign finance legislation based on the First amendment, but few seem to realize that Congress clearly lacks the constitutional power to enact such legislation.
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"Campaign Finance Reform" Serves Entrenched Interests in Washington
09 April 2001 Texas Straight Talk 09 April 2001 verse 6 ... Cached
The liberal mainstream media also benefit from campaign finance restrictions. When lobbies and individuals are limited in what they can give to campaigns and political parties, they instead will spend money on advertisements during election seasons. Media outlets relish the prospect of increased ad revenue. Although the McCain bill places restrictions just prior to elections on issue ads, which only implicitly support one party or candidate, the media know they will sell even more ads before the restriction period starts. Since the issue ad restrictions raise First amendment questions, the media also know that the Supreme Court likely will forbid such restrictions as unconstitutional. The end result is that mainstream media organizations will have more money and influence than ever before. The media will impact the outcomes of elections even more than they do today.
finance
"Campaign Finance Reform" Serves Entrenched Interests in Washington
09 April 2001 Texas Straight Talk 09 April 2001 verse 8 ... Cached
We need to get money out of government. Only then will money not be important in politics. Campaign finance laws will not make politicians more ethical, but they will make it harder for average Americans to influence Washington.
finance
The Federal Education Morass
28 May 2001 Texas Straight Talk 28 May 2001 verse 6 ... Cached
The bill increases the Education department budget by a whopping 22 percent- more than even the liberals had hoped. The $9.2 billion increase brings the total department budget to more than $50 billion. No one mentions the high tax rates we all pay to finance this spending. We must remember that every dollar parents send to Washington is a dollar they don't have to spend directly on their children's education. Most education tax dollars sent to Washington fund the federal bureaucracy; far less than half of each dollar is ever returned to local schools. More importantly, federal school dollars come with strings attached. The more money we give to education bureaucrats, the more power they have to dictate how local schools are run. When federal spending increases, local schools are forced to do whatever it takes to get their share, even if this means adopting one size fits all policies mandated in Washington. In other words, federal money is used as a club to force schools to surrender more and more of their decision making authority to Washington.
finance
What Happened to the Surplus?
20 August 2001 Texas Straight Talk 20 August 2001 verse 7 ... Cached
American voters should understand that Congress will always find a way to spend every last dollar sent to Washington. Remember, politicians get votes by promising everything to everyone, always at the expense of some other invisible taxpayers. Most politicians are unashamed of their unconstitutional pork-barrel spending, even highlighting during campaigns their "accomplishment" of spending more and more of your money. The federal government cannot maintain a budget surplus any more than an alcoholic can leave a fresh bottle of whiskey untouched in the cupboard. We must change our perception that a budget surplus is healthy for the economy, because every dollar parked in the federal treasury ultimately is spent by Congress. Those dollars could have been spent, saved, or invested in the private marketplace. With a spendthrift Congress, high federal revenues simply mean more federal spending. The only way to end the unconscionable waste is to drastically reduce federal revenues by cutting taxes. Voters need to regain control of the nation's finances by rejecting the big spenders at the ballot box.
finance
Enron: Under-Regulated or Over-Subsidized?
28 January 2002 Texas Straight Talk 28 January 2002 verse 5 ... Cached
Enron provides a perfect example of the dangers of corporate subsidies. The company was (and is) one of the biggest beneficiaries of Export-Import Bank subsidies. The Ex-Im bank, a program that Congress continues to fund with your tax dollars, essentially makes risky loans to foreign governments and businesses for projects involving American companies. The Bank, which purports to help developing nations, really acts as a naked subsidy for certain politically-favored American corporations- especially corporations like Enron that lobbied hard and gave huge amounts of cash to both political parties. Its reward was more that $600 million in cash via six different Ex-Im financed projects.
finance
Why Is There So Much Money In Politics?
04 February 2002 Texas Straight Talk 04 February 2002 verse 3 ... Cached
"Campaign finance reform" is a hot issue on Capitol Hill again in the wake of the Enron collapse. One very prominent Senator, who has championed the reform cause from the beginning, embarrassingly received thousands for his own campaign from the failed company. Oblivious to his hypocrisy, he recently appeared on national television lamenting that "Enron has tainted all of us. This shows why we need campaign finance reform."
finance
Why Is There So Much Money In Politics?
04 February 2002 Texas Straight Talk 04 February 2002 verse 4 ... Cached
If the Senator and so many others in Congress believe so strongly in campaign finance reform, why is money in politics such a big problem? In other words, why don't these politicians simply put their money where their mouth is, act with integrity, and do a better job of policing their own campaigns?
finance
Why Is There So Much Money In Politics?
04 February 2002 Texas Straight Talk 04 February 2002 verse 7 ... Cached
Campaign finance reform really means more regulations, more controls, more telling the American people how they can spend their money and how they can lobby Congress. Your freedoms should not be restricted because some politicians cannot control themselves. The problem is that there are members of Congress who yield to the temptation and influence of money, who effectively sell their votes to those who can give them money and keep them in office. If enough members did not yield to the temptation, they would not have to posture with phony campaign finance reform bills and they would not have to undermine the Constitution.
finance
Why Is There So Much Money In Politics?
04 February 2002 Texas Straight Talk 04 February 2002 verse 8 ... Cached
We need to get money out of government. Only then will money not be important in politics. Campaign finance laws will not make politicians more ethical, but they will make it harder for average Americans to influence Washington.
finance
Don't Believe the Hype- "Campaign Finance Reform" Serves Entrenched Interests
18 February 2002 Texas Straight Talk 18 February 2002 verse 2 ... Cached
Don't Believe the Hype- "Campaign Finance Reform"
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Don't Believe the Hype- "Campaign Finance Reform" Serves Entrenched Interests
18 February 2002 Texas Straight Talk 18 February 2002 verse 4 ... Cached
The long-awaited "campaign finance reform" vote finally took place last week, with the House ultimately passing the measure. The debate was full of hypocritical high-minded talk about cleaning up corruption, all by the very politicians of both parties who dole out billions in corporate subsidies and welfare pork. It was quite a spectacle watching the big-spending, perennially-incumbent politicians argue that new laws were needed to protect them from themselves!
finance
Gold, Dollars, and Federal Reserve Mischief
10 June 2002 Texas Straight Talk 10 June 2002 verse 4 ... Cached
Gold is history’s oldest and most stable currency. Central bankers and politicians don’t want a gold-backed currency system, because it denies them the power to create money out of thin air. Governments by their very nature want to expand, whether to finance military intervention abroad or a welfare state at home. This expansion costs money, and the big-government politicians don’t want spending limited to the amounts they can tax or borrow. This is precisely why central banks now produce all of the world’s major currencies.
finance
HillaryCare, Republican Style
30 June 2003 Texas Straight Talk 30 June 2003 verse 8 ... Cached
Taxpayers certainly can’t afford an expansion of Medicare. Economists estimate the new program will cost between 3 and 4 trillion dollars over time, all financed by payroll taxes. Even as the added drug coverage makes Medicare more expensive, more seniors than ever will be herded into the program. This new strain on taxpayers will be especially acute when the large Baby Boomer generation retires and younger workers are expected to pay the bills.
finance
Can We Afford to Occupy Iraq?
01 September 2003 Texas Straight Talk 01 September 2003 verse 3 ... Cached
We should not expect any international coalition to help us pay the bills for occupying Iraq, however. American taxpayers alone will bear the tremendous financial burden of nation building in Iraq. We are already spending about 5 billion dollars in Iraq every month, a number likely to increase as the ongoing instability makes it clear that more troops and aid are needed. We will certainly spend far more than the 65 billion dollars originally called for by the administration to prosecute the war. The possibility of spending hundreds of billions in Iraq over several years is very real. This is money we simply don’t have, as evidenced by the government’s deficit spending- borrowing- to finance the campaigns in Afghanistan and Iraq to date.
finance
Economic Woes Begin at Home
03 November 2003 Texas Straight Talk 03 November 2003 verse 5 ... Cached
Congress should consider the sobering fact that the Chinese hold billions of dollars of U.S. debt. The dollars the Chinese acquire by selling us goods and services eventually must be returned to the United States. Since the Chinese are not buying an equivalent amount of American goods and services, they use dollars to finance our extravagant spending.
finance
"Campaign Finance Reform" Muzzles Political Dissent
22 December 2003 Texas Straight Talk 22 December 2003 verse 1 ... Cached
"Campaign Finance Reform”
finance
"Campaign Finance Reform" Muzzles Political Dissent
22 December 2003 Texas Straight Talk 22 December 2003 verse 3 ... Cached
In a devastating blow to political speech, the Supreme Court recently upheld most of the McCain-Feingold campaign finance bill passed by Congress last year. The legislation will do nothing to curb special interest power or reduce corruption in Washington, but it will make it harder for average Americans to influence government. “Campaign finance reform” really means the bright-line standard of free speech has been replaced by a murky set of regulations and restrictions that will muzzle political dissent and protect incumbents. Justice Scalia correctly accuses the Court of supporting a law “That cuts to the heart of what the First Amendment is meant to protect: the right to criticize the government…This is a sad day for freedom of speech.”
finance
"Campaign Finance Reform" Muzzles Political Dissent
22 December 2003 Texas Straight Talk 22 December 2003 verse 6 ... Cached
Outrageously, the Court failed to strike down a provision of the campaign finance bill that virtually outlaws criticism of incumbent politicians for 60 days before an election—exactly the time when most voters learn about candidates and issues. The ban essentially prohibits any group from airing radio or television ads that cast politicians in a negative light during the critical final months of an election. The ban even carries the possibility of criminal penalties, meaning the Court has endorsed criminalizing political dissent! Incumbent politicians certainly will be the beneficiaries of the new ban, as they no longer have to suffer through ads that criticize their performance.
finance
Greenspan's Black Magic
23 February 2004 Texas Straight Talk 23 February 2004 verse 4 ... Cached
Never mind, says Mr. Greenspan. Mortgage refinancing, made wildly popular by artificially low interest rates established by the Fed, will be the saving grace of American households. They can simply borrow against their homes to finance living beyond their means, a practice encouraged by Fed policies. But what happens when home prices stop going up? What happens when families reach a point where they cannot make payments on two, three, or even more mortgages? How can the Fed chairman equate mortgage credit with real economic growth?
finance
Superpower or Superdebtor?
07 June 2004 Texas Straight Talk 07 June 2004 verse 5 ... Cached
The day is fast approaching when we no longer will be able to afford this burden. For now foreign governments are willing to loan us the money needed to finance our current account deficit, and indirectly the cost of our worldwide military operations. But economic law eventually will limit our ability to live off others by credit creation. Eventually trust in the dollar will be diminished, if not destroyed. At that point it will become painfully obvious to even the most strident supporter of our interventionist foreign policy that the super-power has become a super-debtor, its power and influence greatly diminished, and its people much poorer and more vulnerable.
finance
Useless Conventions
02 August 2004 Texas Straight Talk 02 August 2004 verse 4 ... Cached
Why should taxpayers be expected to pay for private political conventions? There is nothing sacred or noble about political parties, nor do they serve any altruistic purpose. Political parties per se have no basis in the Constitution, yet they hold tremendous power over our lives. Today’s modern two-party political process has narrowed voter choices and emasculated political courage. The parties enjoy a virtual stranglehold on national politics, thanks to outrageously restrictive ballot access laws and campaign finance rules that reward status-quo incumbency. They also receive millions in federal matching funds.
finance
Government Debt- The Greatest Threat to National Security
25 October 2004 Texas Straight Talk 25 October 2004 verse 7 ... Cached
The federal government issues U.S. Treasury bonds to finance its deficit spending. The largest holders of those Treasury notes-- our largest creditors-- are foreign governments and foreign individuals. Asian central banks and investors in particular, especially China, have been happy to buy U.S. dollars over the past decade. But foreign governments will not prop up our spending habits forever. Already, Asian central banks are favoring Euro-denominated assets over U.S. dollars, reflecting their belief that the American economy is headed for trouble. It’s akin to a credit-card company cutting off a borrower who has exceeded his credit limit one too many times.
finance
Gold Exposes the Dollar
06 December 2004 Texas Straight Talk 06 December 2004 verse 9 ... Cached
The consequences of a rapidly declining dollar are not yet obvious to the American public. A trip to Europe costs more than it did a few years ago, but most Americans still don’t sense they are becoming poorer as the dollar falls. The long-term significance has not yet begun to sink in. However, our relative wealth as a nation is measured in dollars, and the steady erosion of the value of those dollars means we will all be poorer in the future. Federal Reserve chairman Alan Greenspan has relentlessly increased the money supply throughout his tenure, ostensibly to keep the economy expanding. But this artificial stimulation through cheap money comes with a price. When dollars are abundant, they are worth less. This is the reality facing Americans today, especially older Americans who rely on savings to finance their retirement years.
finance
What do Rising Gold Prices Mean?
05 December 2005 Texas Straight Talk 05 December 2005 verse 5 ... Cached
Gold is history’s oldest and most stable currency. Central bankers and politicians don’t want a gold-backed currency system, because it denies them the power to create money out of thin air. Governments by their very nature want to expand, whether to finance military intervention abroad or a welfare state at home. Expansion costs money, and politicians don’t want spending limited to the amounts they can tax or borrow. This is precisely why central banks now manage all of the world’s major currencies.
finance
Scandals are a Symptom, Not a Cause
09 January 2006 Texas Straight Talk 09 January 2006 verse 7 ... Cached
Undoubtedly the recent revelations will ignite new calls for campaign finance reform. However, we must recognize that that campaign finance laws place restrictions only on individuals, not politicians. Politicians will continue to tax and spend, meaning they will continue to punish some productive Americans while rewarding others with federal largesse. The same vested special interests will not go away, and the same influence peddling will happen every day on Capitol Hill.
finance
New Rules, Same Game
23 January 2006 Texas Straight Talk 23 January 2006 verse 4 ... Cached
I find it hard to believe that changing the congressional ethics rules or placing new restrictions on lobbyists will do much good. After all, we already have laws against bribery, theft, and fraud. We already have ethics rules in Congress. We already have campaign finance reform. We already require campaigns and lobbyists to register with the federal government and disclose expenditures. We already require federal employees, including the president and members of congress, to take an oath of office. None of it is working, so why should we think more rules, regulations, or laws will change anything?
finance
The Real Washington Scandal
06 February 2006 Texas Straight Talk 06 February 2006 verse 5 ... Cached
New Federal Reserve Chairman Ben Bernanke faces a difficult dilemma. Our overseas creditors, particularly Asian central banks, already hold billions of U.S. dollars and are losing their appetite for lending us more money. They are wary of our enormous federal deficits and reckless economic policies. Ask yourself a simple question: would you loan the U.S. government money, given its spending habits? It's clear we can't go on borrowing $1.8 billion every day to finance the government!
finance
Another "Emergency" Spending Bill
20 March 2006 Texas Straight Talk 20 March 2006 verse 9 ... Cached
The real emergency is in Washington, where Congress is spending and borrowing America into a perfect storm. As economist James Turk explains, the federal government now relies upon debt to finance 20% of its spending. Low interest rates during the 1990s and early 2000s kept interest payments on government debts- Treasury Bonds and Treasury Bills- somewhat manageable. During the same period, however, the Federal Reserve greatly increased the money supply, which has caught up to us in the form of price inflation. The Fed now must raise rates to combat this inflation, but higher interest rates will chill economic growth and slow tax revenue. To quote Mr. Turk, “The federal government faces a potentially toxic mix of constrained revenues, soaring expenditures, ballooning debt, and rising interest rates.”
finance
The Perils of Economic Ignorance
27 March 2006 Texas Straight Talk 27 March 2006 verse 6 ... Cached
I certainly have seen firsthand a great deal of economic ignorance in Congress over the years. Few members pay any attention whatsoever to the Federal Reserve Bank, despite the tremendous impact Fed policy has on their constituents. Even many members of the banking and finance committees have little or no knowledge of monetary policy. Perhaps this is why so many in Congress seem to believe we can all become rich by printing new dollars, or that we can make 2+2=5 by taking money from some people and giving it to others.
finance
The Declining Dollar Erodes Personal Savings
15 May 2006 Texas Straight Talk 15 May 2006 verse 9 ... Cached
The consequences of a rapidly declining dollar are not yet fully understood by the American public. The long-term significance has not sunk in, but when it does there will be political hell to pay in Washington. Our relative wealth as a nation is measured in dollars, and the steady erosion of the value of those dollars means we will all be poorer in the future. The artificial stimulation of our economy through cheap money comes with a price. When dollars are abundant, they are worth less. This is the reality facing Americans today, especially older Americans who rely on savings to finance their retirement years.
finance
Milton Friedman 1912-2006
20 November 2006 Texas Straight Talk 20 November 2006 verse 8 ... Cached
Our schools teach children virtually nothing about economics and personal finance, which leaves them woefully unprepared for the working world. It also creates whole generations of young Americans who are incredibly vulnerable to the worst pandering politicians.
finance
Inflation and War Finance
29 January 2007 Texas Straight Talk 29 January 2007 verse 1 ... Cached
Inflation and War Finance
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Inflation and War Finance
29 January 2007 Texas Straight Talk 29 January 2007 verse 5 ... Cached
As the war in Iraq surges forward, and the administration ponders military action against Iran, it’s important to ask ourselves an overlooked question: Can we really afford it? If every American taxpayer had to submit an extra five or ten thousand dollars to the IRS this April to pay for the war, I’m quite certain it would end very quickly. The problem is that government finances war by borrowing and printing money, rather than presenting a bill directly in the form of higher taxes. When the costs are obscured, the question of whether any war is worth it becomes distorted.
finance
Inflation and War Finance
29 January 2007 Texas Straight Talk 29 January 2007 verse 6 ... Cached
Congress and the Federal Reserve Bank have a cozy, unspoken arrangement that makes war easier to finance. Congress has an insatiable appetite for new spending, but raising taxes is politically unpopular. The Federal Reserve, however, is happy to accommodate deficit spending by creating new money through the Treasury Department. In exchange, Congress leaves the Fed alone to operate free of pesky oversight and free of political scrutiny. Monetary policy is utterly ignored in Washington, even though the Federal Reserve system is a creation of Congress.
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Inflation and War Finance
29 January 2007 Texas Straight Talk 29 January 2007 verse 7 ... Cached
The result of this arrangement is inflation. And inflation finances war.
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Inflation and War Finance
29 January 2007 Texas Straight Talk 29 January 2007 verse 8 ... Cached
Economist Lawrence Parks has explained how the creation of the Federal Reserve Bank in 1913 made possible our involvement in World War I. Without the ability to create new money, the federal government never could have afforded the enormous mobilization of men and material. Prior to that, American wars were financed through taxes and borrowing, both of which have limits. But government printing presses, at least in theory, have no limits. That’s why the money supply has nearly tripled just since 1990.
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Keeping Promises to Seniors
07 October 2007 Texas Straight Talk 07 October 2007 verse 2 ... Cached
With our country's finances stretched thin, our credit limit fast approaching, and our currency inflated to the breaking point, there is no indication yet of any urgency on the part of Congress to rein in spending. The predictable answer to the government's voracious spending habits is this week’s proposal by some Democratic Congressional leaders for tax increases to pay for operations in Iraq . Here at home, however, there are promises our seniors heavily rely upon. We must keep these promises.
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.