U.S. Rep. Ron Paul | saving |
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Access To Energy
25 February 1998 1998 Ron Paul 19:8
The capital required to build these things was supplied by the savings of tens of millions of people, who set aside part of the money they had earned and invested it in the free market in hopes of making a profit. It was also built by the profits retained by the corporations themselves. Capital alone did not, however, build the industries — people did. These people were led by unusual individuals whose love of science and technology dominated their personal lives and drove them and those around them to ever greater accomplishments.
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On Regulating Credit Unions
1 April 1998 1998 Ron Paul 32:3
For instance, it was bragged upon, the bill was bragged upon because the regulations of safety and soundness was good. We have had a lot of regulation, for safety and soundness for banks and savings and loan, and yet the FDIC and FSLIC had to be bailed out. The insurance deposit for credit unions was started by private money, no government subsidies, and has never been bailed out. So now we are going to overlook the credit unions and make sure they are safer and sound.
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Amendment Number 3 Offered By Mr. Paul
29 April 1998 1998 Ron Paul 42:10
If one does not give his Social Security number, one is in big trouble in this country. One cannot even get out of the hospital if one is born without a Social Security number, and one cannot open up a savings account for a child if one does not have a Social Security number. One is not even allowed to die at this time without a Social Security number, because one needs a Social Security number on one’s death certificate. Talk about cradle to grave.
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Higher Education Amendments of 1998
6 May 1998 1998 Ron Paul 49:8
Second, and more importantly, the 10th amendment does not prohibit federal control of education without an offset, it prohibits all programs that centralize education regardless of how they are funded. Savings from defunded education programs should be used for education tax cuts and credits, not poured into new, unconstitutional programs.
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National Police State
12 May 1998 1998 Ron Paul 50:1
Mr. PAUL. Mr. Speaker, today the Congress will collectively move our nation two steps closer to a national police state by further expanding a federal crime and paving the way for a deluge of federal drug prohibition legislation. Of course, it is much easier to ride the current wave of federalizing every human misdeed in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, and especially in an election year, wants to be amongst those members of Congress who are portrayed as soft on drugs or deadbeat parents irrespective of the procedural transgressions and individual or civil liberties one tramples in their zealous approach.
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Child Protection and Sexual Predator Punishment Act
11 June 1998 1998 Ron Paul 58:2
Mr. Chairman, today the Congress will collectively move our nation yet another step closer to a national police state by further expanding the notion of federal crimes and paving the way for a deluge of federal criminal justice activity. Of course, it is much easier to ride the current wave of federally “criminalizing” all human malfeasance in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a process by which the nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, and especially in an election year, wants to be amongst those members of Congress who are portrayed as soft on child-related sexual crime irrespective of the procedural transgressions and individual or civil liberties one tramples in their zealous approach.
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Parent And Student Saving Account Act
18 June 1998 1998 Ron Paul 62:1
Mr. PAUL. Mr. Speaker, I appreciate the opportunity to explain why I oppose the Conference Report of the Parent and Student Saving Account Act (H.R. 2646). This, despite having been an original cosponsor, and having been quite active in seeking support, of the original House bill. I remain a strong supporter of education IRAs, which are a good first step toward restoring parental control of education by ensuring parents can devote more of their resources to their children’s education. However, this bill also raises taxes on businesses and expands federal control of education. I cannot vote for a bill that raises taxes and increases federal power, no matter what other salutary provisions are in the legislation.
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Parent And Student Saving Account Act
18 June 1998 1998 Ron Paul 62:2
I certainly support the provision allowing parents to contribute up to $2,000 a year to education savings accounts without having to pay taxes on the interest earned by that account. This provision expands parental control of education, the key to true education reform as well as one of the hallmarks of a free society. Today the right of parents to educate their children as they see fit is increasingly eroded by the excessive tax burden imposed on America’s families by Congress. Congress then rubs salt in the wounds of America’s hardworking, taxpaying parents by using their tax dollars to fund an unconstitutional education bureaucracy that all too often uses its illegitimate authority over education to undermine the values of these same parents!
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Parent And Student Saving Account Act
18 June 1998 1998 Ron Paul 62:17
In conclusion, although the Conference Report of Parent and Student Savings Account Act does take a step toward restoring parental control of education, it also raises job-destroying taxes on business. Furthermore, the conference report creates new education programs, including a new literacy program that takes a step toward nationalizing curriculum, as well as imposes yet another mandate on local schools. It violates the Tenth Amendment to the Constitution and reduces parental control over education. Therefore, I cannot, in good conscience, support this bill. I urge my colleagues to join me in opposing this bill and instead support legislation that returns education resources to American parents by returning to them monies saved by deep cuts in the federal bureaucracy, not by raising taxes on other Americans.
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Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:2
Mr. James Grant is the editor of Grant’s Interest Rate Observer, a financial publication, and editorial director of Grant’s Municipal Bond Observer and Grant’s Asia Observer. He has also authored several books including the biographical “Bernard Baruch: Adventures of a Wall Street Legend”, the best financial book of the year according to The Financial Times “Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken”, “Minding Mr. Market: Ten Years on Wall Street with Grant’s Interest Rate Observer” and “The Trouble with Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings”. He is a frequent guest on news and financial programs, and his articles appear in a variety of publications.
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Patient Protection Act of 1998
24 July 1998 1998 Ron Paul 84:1
Mr. PAUL. Mr. Speaker, I appreciate the opportunity to explain why I cannot vote for the Patient Protection Act (H.R. 4250). However, I would first like to express my support for two of the bill’s provisions, relating to Medical Savings Accounts and relating to the proposed national health ID.
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Patient Protection Act of 1998
24 July 1998 1998 Ron Paul 84:7
An excellent way of moving toward a health care system where the consumer is in charge is through Medical Savings Accounts (MSA’s). I enthusiastically endorse those provisions of this bill that expand access to MSA’s. It may be no exaggeration to say that MSA’s are vital to preserving the private practice of medicine.
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Patient Protection Act of 1998
24 July 1998 1998 Ron Paul 84:11
However, as much as I support H.R. 4250’s expansion of MSA’s, I equally object to those portions of the bill placing new federal standards on employer offered health care plans. Proponents of these standards claim that they will not raise cost by more than a small percentage point. However, even an increase of a small percentage point could force many marginal small businesses to stop offering health care for their employees, thus causing millions of Americans to lose their health insurance. This will then lead to a new round of government intervention. Unlike Medical Savings Accounts which remove the HMO bureaucracy currently standing between physicians and patients, the so-called patient protections portions of this bill add a new layer of government-imposed bureaucracy. For example, H.R. 4250 guarantees each patient the right to external and internal review of insurance company’s decisions. However, this does not empower patients to make their own decisions. If both external and internal review turn down a patient’s request for treatment, the average patient will have no choice but to accept the insurance companies decision. Furthermore, anyone who has ever tried to navigate through a government-controlled “appeals process” has reason to be skeptical of the claims that the review process will be completed in less than three days. Imposing new levels of bureaucracy on HMO’s is a poor substitute for returning to the American people the ability to decide for themselves, in consultation with their care giver, what treatments are best for them. Medical Savings Accounts are the best patient protection.
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Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:5
But economic law dictates that adjustments will be made for all the bad investment decisions based on erroneous information about interest rates, the money supply, and savings.
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Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:8
All this could have been prevented by a sound monetary system, one without a central bank that has monopoly power over money and credit and pursues central economic planning. My concern is profound. The retirement and savings of millions of Americans are jeopardized. Economic growth could be reversed sharply and quickly as it already has in the Asian countries. Budget numbers will need to be sharply revised.
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Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:11
The sooner we understand the nature of the problem and start serious discussions on how to restore soundness to our money the sooner we can secure the savings, investments, and retirements of all Americans.
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POW/MIA Recognition Week In Matagorda County, Texas
10 September 1998 1998 Ron Paul 98:2
This event will be sponsored by Matagorda County Veterans Services as a part of POW/ MIA Recognition Week. Mr. Speaker, as a United States Air Force veteran I am well aware of the sacrifices which brave young men are required to make during times of war. Perhaps no better example of these sacrifices can be found than those endured by Prisoners of War and those Missing In Action. From “Hanoi Hilton” to “Saving Private Ryan” we have seen the dramatic horrors that war brings, but behind the stories, beyond the silver screen, there are real Private Ryan’s who never do make it home. And there are families broken, lives affected and communities touched, by the real sacrifices of the real heroes who fight America’s wars.
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World Financial Markets
1 October 1998 1998 Ron Paul 104:11
Credit conditions that allow a company with less than $1 billion in capital to buy $100 billion worth of stock with borrowed money and manage $1.2 trillion worth of derivatives is about as classic an example as one could ever find of speculative excess brought on by easy credit. As long as capital is thought to come from a computer at the Federal Reserve and not from savings, the financial problems the world faces today will persist.
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Iraq — Part 1
5 October 1998 1998 Ron Paul 107:18
Under the appropriations it is endless, it is open, endless, and here we are concerned about saving Social Security. Any amount of money spent on this bill comes out of Social Security. Yes, there was yelling and screaming about a tax cut. Oh, it is coming out of Social Security. Well, this money is not appropriated, and it is such sums as necessary for military and economic benefits. After we get rid of one thug, we are going to have it in. I hope we make a better choice than we did with Bin Laden. I mean he was our close ally.
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Medicare Home Health And Veterans Health Care Improvement Act Of 1998
9 October 1998 1998 Ron Paul 118:5
Mr. Speaker, I also support the language of the bill expanding the health care options available to veterans’ benefits. Ensuring the nation’s veterans have a quality health care system should be one of the governments’ top priorities. In fact, I am currently working on a plan to improve veterans’ health care by allowing them greater access to Medical Savings Accounts (MSAs). However, I cannot, in good conscience, support the proposals before us today because, for all their good intentions, it is fatally flawed in implementation for it attempts to offset its new spending with a tax increase.
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Monetary Policy
16 October 1998 1998 Ron Paul 120:10
If the problem were merely that there were not enough money, then money creation alone could make us all millionaires and no one would have to work. But increasing the money supply does not increase wealth. Only work and savings do that. The deception comes because, for a while for the luck few, benefits are received when government inflate the currency and pass it out for political reasons.
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Congress Relinquishing The Power To Wage War
2 February 1999 1999 Ron Paul 4:75
A hint of what can happen when the world gets tired of holding too many of our dollars was experienced in the dollar crisis of 1979 and 1980, and we saw at that time interest rates over 21 percent. There is abundant evidence around warning us of the impending danger. According to Federal Reserve statistics, household debt reached 81 percent of personal income in the second quarter of 1998. For 20 years prior to 1985, household debt averaged around 50 percent of personal income. Between 1985 and 1998, due to generous Federal Reserve credit, competent American consumers increased this to 81 percent and now it is even higher. At the same time, our savings rate has dropped to zero percent.
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Federal Communications Commission
25 February 1999 1999 Ron Paul 9:1
Mr. PAUL. Mr. Speaker, I rise in opposition to H.R. 514, and in support of the Wilson amendment. The passage of this legislation will, as does so much of the legislation we pass, move our nation yet another step close to a national police state by further expanding a federal crime and empowering more federal police—this time at the Federal Communications Commission. Despite recent and stern warnings by both former U.S. attorney general Edwin Meese III and current U.S. Supreme Court Chief Justice William H. Rehnquist, the Congress seems compelled to ride the current wave of federally criminalizing every human misdeed in the name of saving the world from some evil rather than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from totalitarianism.
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U.S. Foreign Policy and NATO’s Involvement in Yugoslavia and Kosovo
21 April 1999 1999 Ron Paul 29:37
It was soon apparent that bombing was no more a successful diplomatic tool than were the threats of dire consequences if the treaty, unfavorable to the Serbs, was not quickly signed by Milosevic. This drew demands that policy must be directed toward saving NATO by expanding the war. NATO’s credibility was now at stake and how could Europe, and the United States war machine, survive if NATO were to disintegrate.
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Pell Grants
4 May 1999 1999 Ron Paul 37:4
Instead of increasing federal expenditures, Mr. Speaker, this Congress should respond to the American people’s demand for increased support of higher education by working to pass bills giving Americans tax relief. For example, Congress should pass H.R. 1188, a bill I am cosponsoring which provides a tax deduction of up to $20,000 for the payment of college tuition. I am also cosponsoring several pieces of legislation to enhance the tax benefit for education savings accounts and pre-paid tuition plans to make it easier for parents to save for their children’s education. Although the various plans I have supported differ in detail, they all share one crucial element. Each allows individuals the freedom to spend their own money on higher education rather than forcing taxpayers to rely on Washington to return to them some percentage of their own tax dollars to spend as bureaucrats see fit.
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Consequences Of Gun Control
16 June 1999 1999 Ron Paul 62:4
These — gun control laws will primarily be obeyed by law-abiding citizens and risk making it less likely that good people have guns compared to criminals. Deterrence is important and disarming good people relative to criminals will increase the risk of violent crime. If we really care about saving lives we must focus not only on the newsworthy events where bad things happen, but also on the bad things that never happen because people are able to defend themselves.
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Child Custody Protection Act
30 June 1999 1999 Ron Paul 69:1
Mr. PAUL. Mr. Speaker, in the name of a truly laudable cause (preventing abortions and protecting parental rights), today the Congress could potentially move our nation one step closer to a national police state by further expanding the list of federal crimes and usurping power from the states to adequately address the issue of parental rights and family law. Of course, it is much easier to ride the current wave of criminally federalizing all human malfeasance in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism carried out by a centralized government. Who, after all, wants to be amongst those members of Congress who are portrayed as trampling parental rights or supporting the transportation of minor females across state lines for ignoble purposes.
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Unborn Victims Of Violence Act
30 September 1999 1999 Ron Paul 102:15
Of course, it is much easier to ride the current wave of federalizing every human misdeed in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, wants to be amongst those members of Congress who are portrayed as soft on violent crimes initiated against the unborn?
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Health Care Reform: Treat The Cause, Not The Symptom
4 October 1999 1999 Ron Paul 103:24
The most important thing Congress can do is to get market forces operating immediately by making Medical Savings Accounts (MSAs) generously available to everyone desiring one. Patient motivation to save and shop would be a major force to reduce cost, as physicians would once again negotiate fees downward with patients — unlike today where the government reimbursement is never too high and hospital and MD bills are always at maximum levels allowed. MSAs would help satisfy the American’s people’s desire to control their own health care and provide incentives for consumers to take more responsibility for their care.
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Quality Care For The Uninsured Act
6 October 1999 1999 Ron Paul 104:20
The most important thing Congress can do is to get market forces operating immediately by making Medical Savings Accounts (MSAs) generously available to everyone desiring one. Patient motivation to save and shop would be a major force to reduce cost, as physicians would once again negotiate fees downward with patients — unlike today where the government reimbursement is never too high and hospital and MD bills are always at maximum levels allowed. MSAs would help satisfy the American’s people’s desire to control their own health care and provide incentives for consumers to take more responsibility for their care.
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Conference Report On S. 900, Gramm-Leach-Bliley Act
4 November 1999 1999 Ron Paul 113:3
Federal Reserve Governor Edward Gramlich today joined many others who are concerned about the strength of the economy when he warned that the low U.S. savings rate was a cause for concern. Coupled with the likely decline in foreign investment in the United States, he said that the economy will require some potentially “painful” adjustments — some combination of higher exports, higher interest rates, lower investment, and/or lower dollar values.
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Conference Report On S. 900, Gramm-Leach-Bliley Act
4 November 1999 1999 Ron Paul 113:4
Such a scenario would put added pressure on the financial bubble. The growth in money and credit has outpaced both savings and economic growth. These inflationary pressures have been concentrated in asset prices, not consumer price inflation — keeping monetary policy too easy. This increase in asset prices has fueled domestic borrowing and spending.
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A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:36
Accepting the principle behind both the income and the estate tax concedes the statist notion that the Government owns the fruits of our labor as well as our savings and we are permitted by the politicians’ generosity to keep a certain percentage.
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A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:82
Making generous medical savings accounts available is about the only program talked about today that offers an alternative to government mismanaged care. If something of this sort is not soon implemented, we can expect more pervasive government involvement in the practice of medicine. With a continual deterioration of its quality, the private practice of medicine will soon be gone.
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A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:108
The stage has been set. Rampant monetary growth has led to historic high asset inflation, massive speculation, overcapacity, malinvestment, excessive debt, a negative savings rate and a current account deficit of huge proportions. These conditions dictate a painful adjustment, something that would have never occurred under a gold standard.
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The Hillory J. Farias Date Rape Prevention Drug Act of 1999
31 January 2000 2000 Ron Paul 3:1
Mr. PAUL. Mr. Speaker, today the Congress will collectively move our nation yet another step closer to a national police state by further expanding a federal crime to include amongst the list of controlled substances that of GHB, a nutrient used for 25 years with beneficial effects for those suffering from cataplexy, insomnia, narcolepsy, depression, alcoholism, opiate addiction and numerous other conditions. Of course, it is much easier to ride the current wave of federalizing every human misdeed in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural limitation by which the nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, and especially in an election year, wants to be amongst those members of Congress who are portrayed as being soft on drugs or rape, irrespective of the procedural transgressions and individual or civil liberties one tramples in their overzealous approach.
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MINIMUM WAGE INCREASE ACT
March 9, 2000 2000 Ron Paul 15:7
* I am also cosponsoring the Make College Affordable Act (H.R. 2750), which makes college tuition tax deductible for middle-and-working class Americans, as well as several pieces of legislation to provide increased tax deductions and credits for education savings accounts for both higher education and K-12. In addition, I am cosponsoring several pieces of legislation, such as H.R. 1824 and H.R. 838, to provide tax credits for employers who provide training for their employees.
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Manipulating Interest Rates
May 15, 2000 2000 Ron Paul 36:5
* The silly notion that money can be created at will by a printing press or through computer entries is eagerly accepted by the majority as an easy road to riches, while ignoring any need for austerity, hard work, saving, and a truly free market economy. Those who actively endorse this system equate money creation with wealth creation and see it as a panacea for the inherent political difficulty in raising taxes or cutting spending.
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Manipulating Interest Rates
May 15, 2000 2000 Ron Paul 36:8
* But that’s a fallacy. There is always a cost. Artificially low interest rates prompt lower savings, over-capacity expansion, mal-investment, excessive borrowing, speculation, and price increases in various segments of the economy. And since money creation is not wealth creation, it inevitably leads to a lower value for the currency. The inflation always comes to an end with various victims, many of whom never enjoyed the benefits of the credit creation and deficit spending.
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Quality Health-Care Coalition Act of 2000
June 29, 2000 2000 Ron Paul 61:7
* Mr. Chairman, it is my hope that Congress will follow up on its action today by empowering patients to control their health care by providing all Americans with access to Medical Saving Accounts (MSAs) and large tax credits for their health care expenses. Putting individuals back in charge of their own health care decisions will enable patients to work with providers to ensure they receive the best possible health care at the lowest possible price. If providers and patients have the ability to form the contractual arrangements that they found most beneficial to them, the HMO monster would wither on the vine without the imposition of new federal regulations on the insurance industry.
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Quality Health-Care Coalition Act of 2000
June 29, 2000 2000 Ron Paul 61:8
* In conclusion, Mr. Chairman, I urge my colleagues to support the Quality Health Care Coalition Act and restore the freedom of contract and association to American’s health care professionals. Antitrust laws are no more legitimate or constitutional in the health care market than they are on the software market. Therefore, I hope my colleagues will not just pass this bill but will also support my Market Process Restoration Act and exempt all Americans from antitrust laws. I also urge my colleagues to join me in working to promote a true free-market in health care by putting patients back in charge of the health care dollar through means such as Medical Savings Accounts (MSAs) and individual health care tax credits.
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INTRODUCTION OF THE ESSENTIAL RURAL HOSPITAL PRESERVATION ACT
September 20, 2000 2000 Ron Paul 78:8
* Considering that the BBA of 1997 has resulted in Medicare savings of over $50 billion more than projected by Congress surely it is not to much to ask that Congress ensure Medicare patients in rural areas are not denied access to quality health care services because of the unintended consequences of the Balanced Budget Amendment. I therefore call on my colleagues to stand up for rural hospitals by cosponsoring the Essential Rural Hospital Preservation Act.
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END-OF-SESSION ISSUES
October 11, 2000 2000 Ron Paul 85:7
Of course, I applaud all efforts which move in the right direction such as the Education Savings Accounts legislation (H.R. 7). President Clinton’s college tax credits are also good first steps in the right direction. However, Congress must act boldly — we can ill afford to waste another year without a revolutionary change in our policy. I believe my bill sparks this revolution and I am disappointed that the leadership of this Congress chose to ignore this fundamental reform and instead focused on reauthorizing great society programs and promoting the pseudo-federalism of block grants.
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WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY
October 12, 2000 2000 Ron Paul 86:5
I believe this is what has happened for the past 10 years. Mr. Speaker, so in spite of the grand prosperity that we have had for this past decade, I believe it is an illusion in many ways, because we have not paid for it. In a true capitalist society, true wealth comes from hard work and savings.
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WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY
October 12, 2000 2000 Ron Paul 86:6
Today, the American people have a negative savings rate, which means that we get our so-called capital from a printing press, because there are no savings and no funds to invest. The Federal Reserve creates these funds to be invested. On a short-term, this seems to benefit everyone.
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SOCIAL SECURITY NUMBER CONFIDENTIALITY ACT OF 1999
17 October 2000 2000 Ron Paul 87:2
* This bill will be partially helpful to senior citizens who rely on Social Security. These seniors could lose a lifetime’s worth of savings if a criminal obtained their Social Security number. We owe it to America’s senior citizens to make sure that they are not exposed to the risk of identity theft as a price of receiving their Social Security benefits.
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THREATS TO FINANCIAL FREEDOM
October 19, 2000 2000 Ron Paul 88:11
Now, it’s quite obvious that financial activities in which a person engages when wealth is moved offshore for asset protection, for broader investment potential, for any number of legitimate reasons, for possible tax savings, any of these moves, are innocent in themselves. Former Secretary of the US Treasury, Robert Rubin, admitted in congressional testimony last year, it is the intention behind these innocent financial moves that government agents want to police for possible criminal investigation and prosecution.
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THREATS TO FINANCIAL FREEDOM
October 19, 2000 2000 Ron Paul 88:31
Ignored in this concerted attack on small tax haven nations is the simple fact that under current U.S. and UK tax laws the biggest tax savings for foreigners can be found in Britain and in the United States. The United States is one of the biggest tax havens in the world — but only for non-U.S. persons. And in spite of the known fact that most of the dirty money laundering in the world takes place in London and New York, neither nation is on the FATF money laundering blacklist.
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CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000
October 26, 2000 2000 Ron Paul 92:3
* Accordingly, I strongly endorse many of the provisions in this bill. I fully support the increased IRA and pension plan deduction amounts, which will benefit virtually all Americans. Tax-deductible and tax-deferred savings incentives represent the very best kind of tax reforms this Congress can make. Not only do Americans pay less in taxes with an increased deduction, they also have an increased incentive to accumulate retirement savings.
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CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000
October 26, 2000 2000 Ron Paul 92:5
* Mr. Speaker, I also am pleased that this bill extends the Medical Savings Accounts (MSA) program created in 1996. MSAs and generous health care tax deductions are critical to preserving health care freedom. Federal policies removing consumer control over health care dollars inevitably have led to increased decision making by HMOs and federal bureaucrats.
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CONFERENCE REPORT ON H.R. 2615, CERTIFIED DEVELOPMENT COMPANY PROGRAM IMPROVEMENTS ACT OF 2000
October 26, 2000 2000 Ron Paul 92:13
* Mr. Speaker, I would like to commend the leadership for bringing this conference report to the floor. This conference report includes many important provisions to spur individual retirement savings.
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ECONOMIC PROBLEMS AHEAD
November 13, 2000 2000 Ron Paul 93:7
* Government statistics continue to tell us that price inflation is not a problem, and when an inflation statistic comes out it does not like, it drops out food and energy and claims the number is totally benign. Ask any housewife, and they will tell you that the cost of living is going up steadily and much more rapidly than the government will admit. We in the Congress should be prepared for lower revenues in the future since the revenues received in the last couple of years were artificially created by a stock market that had skyrocketed due to the credit expansion by the Federal Reserve. These capital gains tax revenues will soon disappear. The savings rates of the American people are now negative. Without savings, true capital investment cannot be maintained. Creation of credit out of thin air by the Fed was the original problem, so it surely can’t be the solution.
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INTRODUCTION OF THE IDENTITY THEFT PREVENTION ACT — HON. RON PAUL
Wednesday, January 3, 2001 2001 Ron Paul 1:4
* Congressionally-mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to the Congressionally-mandated use of the Social Security number as an uniform identifier, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft — yet the federal government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID!
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India Disaster Relief
31 January 2001 2001 Ron Paul 5:10
Lastly, as a result of such actions as these, participation dwindles worldwide for the most efficient means of dealing with such catastrophes, that is, private disaster insurance. When disaster costs are socialized, greater catastrophic results are encouraged as more people ignore the costs of living in riskier areas. At the same time, these same actors ignore the cost savings and other benefits of living in safer areas. Governments acting to socialize these costs actually stimulates the eventual death and destruction of more people and their property. (This, of course, is a lesson that the United States should learn to apply domestically, as well.)
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CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:29
If liberals want $46 billion for the Department of Education and conservatives argue for $42 billion, a compromise of $44 billion is a total victory for the advocates of federal government control of public education. “Saving” $2 billion means nothing in the scheme of things, especially since the case for the constitutional position of zero funding was never entertained. When the budget and government controls are expanding each year, a token cut in the proposed increase means nothing, and those who claim it to be a legitimate victory do great harm to the cause of liberty by condoning the process. Instead of it being a Third Way alternative to the two sides arguing over minor details on how to use government force, the three options instead are philosophically the same. A true alternative must be offered if the growth of the state is to be contained. Third-Way bipartisanship is not the answer.
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CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:55
During the past 30 years in the post-Bretton Woods era, worldwide sentiment has permitted us to inflate our money supply and get others to accept the dollar as if it were as good as gold. This convenient arrangement has discouraged savings, which are now at an historic low. Savings in a capitalist economy are crucial for furnishing capital and establishing market interest rates. With negative savings and with the FED fixing rates by creating credit out of thin air and calling it capital, we have abandoned a necessary part of free-market capitalism, without which a smooth and growing economy is sustainable.
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CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:65
Micromanaging an economy effectively for a long period of time, even with the power a central bank wields, is an impossible task. The good times are ephemeral and eventually must be paid for by contraction and renewed real savings.
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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 7:116
Once a society and a system of laws deny the importance of life, privacy and personal choice are difficult to protect. Since abortions have become commonplace, it has been easier to move the issue of active euthanasia to center stage. As government budgets become more compromised, economic arguments will surely be used to justify reasonable savings by not wasting vital resources on the elderly.
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POTENTIAL FOR WAR
February 08, 2001 2001 Ron Paul 10:51
Once a society and a system of laws deny the importance of life, privacy and personal choices are difficult to protect. Since abortions have become commonplace, it has been easier to move the issue of active euthanasia to center stage. As Government budgets become more compromised, economic arguments will surely be used to justify reasonable savings by not wasting vital resources on the elderly.
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Blame Congress for HMOs
February 27, 2001 2001 Ron Paul 15:6
* The only true solution to the health care problems is to truly allow the private sector to work by restoring control of the health care dollar to the individual through Medical Savings Accounts (MSAs) and large tax credits. In the Medicare program, seniors should not be herded into HMOs but instead should receive increased ability to use Medicare MSAs, which give them control over their health care dollars. Of course, the limits on private contracting in the Medicare program should be lifted immediately.
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Blame Congress for HMOs
February 27, 2001 2001 Ron Paul 15:39
What could be so bad about that? A lot, it seems. Public officials worry privately that patients with power may not choose managed-care plans, eventually destabilizing the HMOs Congress is so dependent on for cost containment and national health-care initiatives. Witness congressional constraints on individually owned, tax-free medical savings accounts and the reluctance to break up employer-sponsored coverage by providing federal tax breaks to individuals. Unless citizens wise up to Congress’s unabashed but unadvertised support for managed care, it appears unlikely that real patient power will rise readily to the top of its agenda.
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Addressing Monetary Problems
22 March 2001 2001 Ron Paul 23:11
This type of a monetary system also encourages us to do things unwisely. When interest rates are lower than they are supposed to be, we borrow more money and we do not save as much money, so savings has a negative rate. Yet people are way in debt, business people are in debt, and then business people are actually encouraged to do things that are not wise. They overbuild; they build into the system overcapacity and mal-investment which eventually has to be cleansed out of the system.
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Unborn Victims Of Violence Act
26 April 2001 2001 Ron Paul 29:3
Of course, it is much easier to ride the current wave of federalizing every human misdeed in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, wants to be amongst those members of Congress who are portrayed as soft on violent crimes initiated against the unborn?
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Protecting Privacy and Preventing Misuse of Social Security Numbers
May 22, 2001 2001 Ron Paul 37:1
I wish to thank the subcommittee on Social Security of the Ways and Means Committee for holding this hearing on the misuse of the Social Security number. The transformation of the Social Security number into a de facto uniform identifier is a subject of increasing concern to the American people. This is, in large part, because the use of the Social Security number as a standard identifier facilitates the crime of identity theft. Today, all an unscrupulous person needs to do is obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and have had their credit destroyed as a result of identity theft.
saving
Sudan Peace Act
13 June 2001 2001 Ron Paul 40:2
But I do question a few things. First, I question whether this is a proper function for our government. I raised this question in the committee, suggesting that it could not be for national security reasons, and it more or less was conceded this has nothing to do with national security but it had to do with America’s soul. I was fascinated that we are in the business of saving souls these days.
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Conscription Policies
13 June 2001 2001 Ron Paul 42:11
It is unfair because those who do not get called remain free while those called into duty must serve or face charges that will haunt them for the rest of their lives. This practice, while through chance, is unjust because it targets those Americans with low draft numbers. Through the archaic, unjust draft process America once more is embracing authoritarianism. If the government chose, National Guard forces could be utilized to alleviate the costs of draft, recruitment, and salary. The savings could then be used to properly compensate a volunteer army, which would attract more skillful persons if the pay scale were better.
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LEGISLATION WHICH ENHANCES SENIOR CITIZENS’ HEALTH CARE -- HON. RON PAUL
Thursday, August 2, 2001 2001 Ron Paul 70:1
* Mr. PAUL. Mr. Speaker, I rise to introduce legislation which enhances senior citizens’ ability to control their health care and use Medicare money to pay for prescription drugs. This legislation accomplishes these important goals by removing the numerical limitations and sunset provisions in the Medicare Medical Savings Account (MSAS) program so that all seniors can take advantage of the Medicare MSA option.
saving
LEGISLATION WHICH ENHANCES SENIOR CITIZENS’ HEALTH CARE -- HON. RON PAUL
Thursday, August 2, 2001 2001 Ron Paul 70:2
* Medicare MSAs consist of a special savings account containing Medicare funds for seniors to use for their routine medical expenses, including prescription drug costs. Seniors in a Medicare MSA program are also provided with a catastrophic insurance policy to cover non-routine expenses such as major surgery. Under an MSA plan, the choice of whether to use Medicare funds for prescription drug costs, or other services not available under traditional Medicare such as mamograms, are made by the senior, not by bureaucrats and politicians.
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Patients’ Bill Of Rights
2 August 2001 2001 Ron Paul 74:18
While none of the proposed “Patients’ Bill of Rights” addresses the root cause of the problems in our nation’s health care system, the amendment offered by the gentleman from Kentucky does expend individual control over health care by making Medical Savings Accounts (MSAs) available to everyone. This is the most important thing Congress can do to get market forces operating immediately and improve health care. When MSAs make patient motivation to save and shop a major force to reduce cost, physicians would once again negotiate fees downward with patients — unlike today where the reimbursement is never too high and hospital and MD bills are always at the maximum levels allowed. MSAs would help satisfy the American’s people’s desire to control their own health care and provide incentives for consumers to take more responsibility for their care.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:25
The special nature of the dollar, as the reserve currency of the world, has permitted the bubble to last longer and to be especially beneficial to American consumers. But in the meantime, understandable market and political forces have steadily eroded our industrial base, while our service sector has thrived. Consumers enjoyed having even more funds to spend as the dollars left manufacturing. In a little over a year, one million industrial production jobs were lost while saving rates sank to zero and capital investments plummeted. Foreigners continue to grab our dollars, permitting us to raise our standard of living, but unfortunately it’s built on endless printing of fiat money and self -limiting personal debt.
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The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:28
In addition, the Federal Reserve treats GSE securities with special consideration. Ever since the fall of 1999, the Fed has monetized GSE securities, just as if they were US Treasury bills. This message has not been lost by foreign central banks, which took their cue from the Fed and now hold more than $130 billion of United States GSE securities. The Fed holds only $20 billion worth, but the implication is clear. Not only will the Treasury loan to the GSEs if necessary, since the line of credit is already in place, but, if necessary, Congress will surely accommodate with appropriations as well, just as it did during the Savings and Loan crisis. But the Fed has indicated to the world that the GSEs are equivalent to US Treasury bills, and foreign central banks have enthusiastically accommodated, sometimes by purchasing more than $10 billion of these securities in one week alone. They are merely recycling the dollars we so generously print and spend overseas.
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Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:47
Wealth- the product of labor, investment and savings- can never be substituted by government spending or by a central bank that creates new money out of thin air. Governments can only give things they first take away from someone else. Printing money only diminishes the value of each monetary unit. Neither can create wealth; both can destroy it.
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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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H.R. 476
17 April 2002 2002 Ron Paul 23:1
Mr. PAUL. Mr. Speaker, in the name of a truly laudable cause (preventing abortion and protecting parental rights), today the Congress could potentially move our nation one step closer to a national police state by further expanding the list of federal crimes and usurping power from the states to adequately address the issue of parental rights and family law. Of course, it is much easier to ride the current wave of criminally federalizing all human malfeasance in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism carried out by a centralized government. Who, after all, wants to be amongst those members of Congress who are portrayed as trampling parental rights or supporting the transportation of minor females across state lines for ignoble purposes.
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H.R. 4954
27 June 2002 2002 Ron Paul 63:9
H.R. 2268 removes the numerical limitations and sunset provisions in the Medicare Medical Savings Accounts (MSA) program. Medicare MSAs consist of a special saving account containing Medicare funds for seniors to use for their routine medical expenses, including prescription drug costs. Unlike the plans contained in H.R. 4504, and the Democratic alternative, Medicare MSAs allow seniors to use Medicare funds to obtain the prescription drugs that fit their unique needs. Medicare MSAs also allow seniors to use Medicare funds for other services not available under traditional Medicare, such as mammograms.
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H.R. 4954
27 June 2002 2002 Ron Paul 63:12
In conclusion, Mr. Speaker, both H.R. 4954 and the alternative force seniors to cede control over what prescription medicines they may receive. The only difference between them is that H.R. 4954 gives federally funded HMO bureaucrats control over seniors prescription drugs, while the alternative gives government functionaries the power to tell seniors what prescription drug they can (and can’t) have. Congress can, and must, do better for our Nation’s seniors, by rejecting this command-andcontrol approach. Instead, Congress should give seniors the ability to use Medicare funds to pay for the prescription drugs of their choice by passing my legislation giving all seniors access to Medicare Medicaid Savings Accounts.
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Has Capitalism Failed?
July 9, 2002 2002 Ron Paul 66:10
Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military- industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!
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Has Capitalism Failed?
July 9, 2002 2002 Ron Paul 66:15
But now we know that’s just not so. Speculative bubbles and all that we’ve been witnessing are a consequence of huge amounts of easy credit, created out of thin air by the Federal Reserve. We’ve had essentially no savings, which is one of the most significant driving forces in capitalism. The illusion created by low interest rates perpetuates the bubble and all the bad stuff that goes along with it. And that’s not a fault of capitalism. We are dealing with a system of inflationism and interventionism that always produces a bubble economy that must end badly.
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Has Capitalism Failed?
July 9, 2002 2002 Ron Paul 66:18
If we were to choose freedom and capitalism, we would restore our dollar to a commodity or a gold standard. Federal spending would be reduced, income taxes would be lowered, and no taxes would be levied upon savings, dividends, and capital gains. Regulations would be reduced, special-interest subsidies would be stopped, and no protectionist measures would be permitted. Our foreign policy would change, and we would bring our troops home.
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Hard Questions for Federal Reserve Chairman Greenspan
July 17, 2002 2002 Ron Paul 71:4
"Now I would like to bring us back to sound money. And I would like to quote an eminent economist by the name of Alan Greenspan who gives me some credibility on what I am interested in. A time ago you said, “In the absence of the gold standard there is no way to protect savings from the confiscation through inflation. There is no safe store of value without gold. This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process that stands as a protector of property rights.’"
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The Tragedy of Partial-Birth Abortion
July 24, 2002 2002 Ron Paul 75:8
Despite its severe flaws, this bill nonetheless has the possibility of saving innocent human life, and should therefore be supported. I fear, though, that when the pro-life community uses the arguments of the opposing side to advance its agenda, it does more harm than good.
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25 July 2002
Monetary Practices 2002 Ron Paul 78:8
The interest rate is a price. It’s the price that brings into balance our eagerness to consume now and our willingness to save and invest for the future. The more we save, the lower the market rate. Our increased saving makes more investment possible; the lower rate makes investments more future oriented. In this way, the market balances current consumption and economic growth.
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25 July 2002
Monetary Practices 2002 Ron Paul 78:17
Meanwhile consumer spending stayed strong — with very low (sometimes negative) savings rates. Growth was not being fueled by real investment, which would require forgoing current consumption to save for the future, but by the monetary printing press.
saving
Abolishing The Federal Reserve
10 September 2002 2002 Ron Paul 86:4
With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.
saving
Abolishing The Federal Reserve
10 September 2002 2002 Ron Paul 86:26
How much easier matters were when we didn’t have to rely on the wisdom of exalted monetary central planners like Greenspan. Under the gold standard, the supply of money regulated itself. The government kept within limits. Banks were more cautious. Savings were high because credit was tight and saving was rewarded. This approach to economics is the foundation of a sustainable prosperity.
saving
Can We Afford this War?
September 24, 2002 2002 Ron Paul 89:3
Government spending in all areas is skyrocketing, much of it out of the control of the politicians, who show little concern. Yet we are expected to believe our government leaders who say that we are experiencing a recovery and that a return to grand prosperity is just around the corner. The absence of capital formation, savings, and corporate profits are totally ignored.
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Stop Identity Theft – Make Social Security Numbers Confidential
January 7, 2003 2003 Ron Paul 4:4
Congressionally-mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to Congress, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft- yet the federal government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID!
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Abolish Selective Service
January 29, 2003 2003 Ron Paul 9:5
I hope all my colleagues to join me in working to shut down this un-American relic of a bygone era and help realize the financial savings and the gains to individual liberties that can be achieved by ending Selective Service registration.
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Expand Medicare MSA Program
5 February 2003 2003 Ron Paul 12:1
Mr. PAUL. Mr. Speaker, I rise to introduce legislation which enhances senior citizens’ ability to control their health care and use Medicare money to pay for prescription drugs. This legislation accomplishes these important goals by removing the numerical limitations and sunset provisions in the Medicare Medical Savings Account (MSAS) program so that all seniors can take advantage of the Medicare MSA option.
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Expand Medicare MSA Program
5 February 2003 2003 Ron Paul 12:2
Medicare MSAs consist of a special savings account containing Medicare funds for seniors to use for their routine medical expenses, including prescription drug costs. Seniors in a Medicare MSA program are also provided with a catastrophic insurance policy to cover nonroutine expenses such as major surgery. Under an MSA plan, the choice of whether to use Medicare funds for prescription drug costs, or other services not available under traditional Medicare such as mammograms, are made by the senior, not by bureaucrats and politicians.
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Support Medical Savings Accounts for Medicare
February 13, 2003 2003 Ron Paul 21:1
Mr. Speaker, I rise to introduce legislation that enhances senior citizens’ ability to control their health care and use Medicare money to pay for prescription drugs. This legislation accomplishes these important goals by removing the numerical limitations and sunset provisions in the Medicare Medical Savings Account (MSAS) program so that all seniors can take advantage of the Medicare MSA option.
saving
Support Medical Savings Accounts for Medicare
February 13, 2003 2003 Ron Paul 21:2
Medicare MSAs consist of a special savings account containing Medicare funds for seniors to use for routine medical expenses, including prescription drugs. Seniors in a Medicare MSA program are also provided with a catastrophic insurance policy to cover non-routine expenses such as major surgery. Under an MSA plan, the choice of whether to use Medicare funds for prescription drug costs, or other services not available under traditional Medicare such as mammograms, are made by seniors, not by bureaucrats and politicians.
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Quality Health Care Coalition Act
12 March 2003 2003 Ron Paul 32:7
Mr. Speaker, it is my hope that Congress will not only remove the restraints on medical professionals’ freedom of contract, but will also empower patients to control their health care by passing my Comprehensive Health Care Reform Act. The Comprehensive Health Care Reform Act puts individuals back in charge of their own health care by expanding access to Medical Savings Accounts and providing Americans with large tax credits and tax deductions for their health care expenses. Putting individuals back in charge of their own health care decisions will enable patients to work with providers to ensure they receive the best possible health care at the lowest possible price. If providers and patients have the ability to form the contractual arrangements that they find most beneficial to them, the HMO monster will wither on the vine without the imposition of new federal regulations on the insurance industry.
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Crisis In Healthcare
13 March 2003 2003 Ron Paul 35:3
Returning control over health care to the individual is the key to true health care reform. This is why today I am introducing the Comprehensive Health Care Reform Act. This legislation puts control of health care back into the hands of the individual through tax credits, tax deductions, Medical Savings Accounts, and Flexible Savings Accounts. Specifically, the Comprehensive Health Care Reform Act:
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Crisis In Healthcare
13 March 2003 2003 Ron Paul 35:5
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA).
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Crisis In Healthcare
13 March 2003 2003 Ron Paul 35:6
C. Makes every American eligible for an Archer Medical Savings Account (MSA) and changes the tax laws to increase the benefits of MSAs.
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Crisis In Healthcare
13 March 2003 2003 Ron Paul 35:8
By providing a wide range of options, this bill allows individual Americans to choose the method of financing health care that best suits their individual needs. Increasing frustration with the current health care system is leading more and more Americans to embrace this approach to health care reform. For example, a recent poll by the respected Zogby firm showed that over 80 percent of Americans support providing all Americans with access to a Medical Savings Account. I hope all my colleagues will join this effort to put individuals back in control of health care by cosponsoring the Comprehensive Health Care Reform Act.
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Comprehensive Health Care Reform Without Socialized Medicine
March 27, 2003 2003 Ron Paul 40:3
Returning control over health care to the individual is the key to true health care reform. This why today I am introducing the Comprehensive Health Care Reform Act. This legislation puts control of health care back into the hands of the individual through tax credits, tax deductions, Medical Savings Accounts, and Flexible Savings Accounts. Specifically, the Comprehensive Health Care Reform Act:
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Comprehensive Health Care Reform Without Socialized Medicine
March 27, 2003 2003 Ron Paul 40:5
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSAs);
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Comprehensive Health Care Reform Without Socialized Medicine
March 27, 2003 2003 Ron Paul 40:6
C. Makes every American eligible for an Archer Medical Savings Account (MSA) and changes the tax laws to increase the benefits of MSAs;
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Comprehensive Health Care Reform Without Socialized Medicine
March 27, 2003 2003 Ron Paul 40:8
By providing a wide range of options, this bill allows individual Americans to choose the method of financing health care that best suits their individual needs. Increasing frustration with the current health care system is leading more and more Americans to embrace this approach to health care reform. For example, a recent poll by the respected Zogby firm showed that over 80% of Americans support providing all Americans with access to a Medical Savings Account. I hope all my colleagues will join this effort to put individuals back in control of health care by cosponsoring the Comprehensive Health Care Reform Act.
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The Partial Birth Abortion Ban
June 4, 2003 2003 Ron Paul 58:8
Despite its severe flaws, this bill nonetheless has the possibility of saving innocent human life, and I will vote in favor of it. I fear, though, that when the pro-life community uses the arguments of the opposing side to advance its agenda, it does more harm than good.
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Medicare Funds For Prescription Drugs
26 June 2003 2003 Ron Paul 71:7
Setting up a system where by many of those currently receiving private coverage are hired into the government program exacerbates one of the major problems with this bill: it hastens the bankruptcy of the Medicare program and the federal government. According to Medicare Trustee, and professor of economics at Texas A&M University, Tom Saving, the costs of this bill could eventually amount to two-thirds of the current public-held debt of $3.8 trillion! Of course, estimates such as this often widely underestimate the costs of government programs. For example, in 1965, the government estimate that the Medicare Part B hospitalization program would cost $9 billion in 1990, but Medicare Part B costs $66 billion in 1990!
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Medicare Funds For Prescription Drugs
26 June 2003 2003 Ron Paul 71:15
H.R. 1617 removes the numerical limitations and sunset provisions in the Medicare Medical Savings Accounts (MSA) program. Medicare MSAs consist of a special saving account containing Medicare funds for seniors to use for their routine medical expenses, including prescription drug costs. Unlike the plans contained in H.R. 4504, and the Democratic alternative, Medicare MSAs allow seniors to use Medicare funds to obtain the prescription drugs that fit their unique needs. Medicare MSAs also allow seniors to use Medicare funds for other services not available under traditional Medicare, such as mammograms.
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Medicare Funds For Prescription Drugs
26 June 2003 2003 Ron Paul 71:20
In conclusion, Mr. Speaker, both H.R. 1 and the alternative force seniors to cede control over which prescription medicines they may receive. The only difference between them is that H.R. 1 gives federally funded HMO bureaucrats control over seniors’ prescription drugs, whereas the alternative gives government functionaries the power to tell seniors which prescription drug they can (and can’t) have. Congress can, and must, do better for our Nation’s seniors, by rejecting this command- and-control approach. Instead, Congress should give seniors the ability to use Medicare funds to pay for the prescription drugs of their choice by passing my legislation that gives all seniors access to Medicare Medical Savings Accounts.
saving
Bring Back Honest Money
17 July 2003 2003 Ron Paul 82:3
While fiat money is widely accepted thanks to legal tender laws, it does not maintain its purchasing power. This works to the disadvantage of ordinary people who lose the purchasing power of their savings, pensions, annuities, and other promises of future payment. Most importantly, because of the subsidies our present monetary system provides to banks, which, as Federal Reserve Chairman Alan Greenspan has stated, “induces” the financial sector to increase leverage, the Federal Reserve can create additional money, in Mr. Greenspan’s words, “ without limit .” For this reason, absent legal tender laws, many citizens would refuse to accept fiat irredeemable paper-ticket or electronic money.
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Bring Back Honest Money
17 July 2003 2003 Ron Paul 82:12
Repeal of legal tender laws will help restore constitutional government and protect the people’s right to a medium of exchange chosen by the market, thereby protecting their current purchasing power as well as their pensions, savings, and other promises of future payment. Because honest money serves the needs of ordinary people, instead of fiat irredeemable paper-ticket electronic money that improperly transfers the wealth of society to a small specially privileged financial elite along with other special interests, I urge my colleagues to cosponsor the Honest Money Act.
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Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:5
With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.
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Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:10
[From USA Daily, May 6, 2003] THE GREATEST THEFT IN HISTORY (By Murray Sabrin) If you have a savings account, your bank probably credits it with interest every month. At the end of the month, you expect the bank to pay you the amount of interest it was obligated to pay you — no more no less. In other words, you would not expect the bank to change the interest it was going to pay you unless your account explicitly allows the bank to readjust the interest rate at its discretion.
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Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:13
Currently the annual inflation rate is about 2.5%. Thus, the risk free rate (the real rate-2% — plus the inflation premium) on savings deposits and money market funds should be about 4.5%. For Americans who seek the safety of savings accounts and money market funds for their hard-earned money, the current average yield of 0.7% on money market funds is well below the current risk free rate. In addition, savers who own short-term U.S. Treasury debt are receiving slightly more than 1.1 % annually. What’s going on? How can savers be receiving about 3.5% less than the risk free rate on their money market accounts and savings accounts?
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Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:16
For the past two-and-a-half years the FED has been pumping money into the banking system, driving down short-term interest rates to its current levels, well below the risk free rate. In fact, the American people are being penalized heavily for saving. Real interest rates are negative.
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Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:19
Moreover, there is $4.61 trillion in the nation’s time and savings deposits, earning an average of about 1.0% or more depending on the financial institution your money is deposited in. (ING Direct pays 2.10% online on short-term deposits. The money can be transferred from your checking account to an online account and back. The minimum deposit to open an account is only $1. This is not a misprint.)
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H.R. 2427, the Pharmaceutical Market Access Act
24 July 2003 2003 Ron Paul 91:4
I also believe in freedom of choice. People have the right to make their own choices. We do not need to promote the nanny state. People are wise enough and cautious enough to make their own choices. Today we had two votes on free trade legislation. They were promoting international trade agreements, but done in the name of free trade. Why do we have free trade legislation, so-called? To lower tariffs, to lower prices to the consumer. But those very same people who worked so hard on free trade legislation are saying now we cannot allow the American people the option of buying drugs from other countries and saving money.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:2
Alan Greenspan, years before he became Federal Reserve Board Chairman in charge of flagrantly debasing the U.S. dollar, wrote about this connection between sound money, prosperity, and freedom. In his article “Gold and Economic Freedom” ( The Objectivist, July 1966), Greenspan starts by saying: “An almost hysterical antagonism toward the gold standard is an issue that unites statists of all persuasions. They seem to sense…that gold and economic freedom are inseparable.” Further he states that: “Under the gold standard, a free banking system stands as the protector of an economy’s stability and balanced growth.” Astoundingly, Mr. Greenspan’s analysis of the 1929 market crash, and how the Fed precipitated the crisis, directly parallels current conditions we are experiencing under his management of the Fed. Greenspan explains: “The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom.” And, “…By 1929 the speculative imbalances had become overwhelming and unmanageable by the Fed.” Greenspan concluded his article by stating: “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.” He explains that the “shabby secret” of the proponents of big government and paper money is that deficit spending is simply nothing more than a “scheme for the hidden confiscation of wealth.” Yet here we are today with a purely fiat monetary system, managed almost exclusively by Alan Greenspan, who once so correctly denounced the Fed’s role in the Depression while recognizing the need for sound money.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:5
But this human trait of seeking wealth and comfort with the least amount of effort is often abused. It leads some to believe that by certain monetary manipulations, wealth can be made more available to everyone. Those who believe in fiat money often believe wealth can be increased without a commensurate amount of hard work and innovation. They also come to believe that savings and market control of interest rates are not only unnecessary, but actually hinder a productive growing economy. Concern for liberty is replaced by the illusion that material benefits can be more easily obtained with fiat money than through hard work and ingenuity. The perceived benefits soon become of greater concern for society than the preservation of liberty. This does not mean proponents of fiat money embark on a crusade to promote tyranny, though that is what it leads to, but rather they hope they have found the philosopher’s stone and a modern alternative to the challenge of turning lead into gold.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:6
Our Founders thoroughly understood this issue, and warned us against the temptation to seek wealth and fortune without the work and savings that real prosperity requires. James Madison warned of “The pestilent effects of paper money,” as the Founders had vivid memories of the destructiveness of the Continental dollar. George Mason of Virginia said that he had a “Mortal hatred to paper money.” Constitutional Convention delegate Oliver Ellsworth from Connecticut thought the convention “A favorable moment to shut and bar the door against paper money.” This view of the evils of paper money was shared by almost all the delegates to the convention, and was the reason the Constitution limited congressional authority to deal with the issue and mandated that only gold and silver could be legal tender. Paper money was prohibited and no central bank was authorized. Over and above the economic reasons for honest money, however, Madison argued the moral case for such. Paper money, he explained, destroyed “The necessary confidence between man and man, on necessary confidence in public councils, on the industry and morals of people and on the character of republican government.”
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:43
Artificially low interest rates deceive investors into believing that rates are low because savings are high and represent funds not spent on consumption. When the Fed creates bank deposits out of thin air making loans available at below-market rates, mal-investment and overcapacity results, setting the stage for the next recession or depression. The easy credit policy is welcomed by many: stock-market investors, home builders, home buyers, congressional spendthrifts, bankers, and many other consumers who enjoy borrowing at low rates and not worrying about repayment. However, perpetual good times cannot come from a printing press or easy credit created by a Federal Reserve computer. The piper will demand payment, and the downturn in the business cycle will see to it. The downturn is locked into place by the artificial boom that everyone enjoys, despite the dreams that we have ushered in a “new economic era.” Let there be no doubt: the business cycle, the stagflation, the recessions, the depressions, and the inflations are not a result of capitalism and sound money, but rather are a direct result of paper money and a central bank that is incapable of managing it.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:44
Our current monetary system makes it tempting for all parties, individuals, corporations, and government to go into debt. It encourages consumption over investment and production. Incentives to save are diminished by the Fed’s making new credit available to everyone and keeping interest rates on saving so low that few find it advisable to save for a rainy day. This is made worse by taxing interest earned on savings. It plays havoc with those who do save and want to live off their interest. The artificial rates may be 4, 5, or even 6% below the market rate, and the savers- many who are elderly and on fixed incomes- suffer unfairly at the hands of Alan Greenspan, who believes that resorting to money creation will solve our problems and give us perpetual prosperity.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:81
These proposals, even if put in place tomorrow, would not solve all the problems we face. It would though, legalize freedom of choice in money, and many who worry about having their savings wiped out by a depreciating dollar would at least have another option. This option would ease some of the difficulties that are surely to come from runaway deficits in a weakening economy with skyrocketing inflation.
saving
We Cannot Afford Another $87 Billion in Iraq
September 16, 2003 2003 Ron Paul 98:9
Some believe that by not raising taxes to pay for the war we can fund it on the cheap. We cannot. When deficits skyrocket the federal government prints more money, the people are effectively taxed by losing value in their savings and in their paychecks. The inflation tax is a sinister and evil way to pay for unpopular wars. It has been done that way for centuries.
saving
Thrift Savings Improvement Act
16 September 2003 2003 Ron Paul 99:1
Mr. PAUL. Mr. Speaker, I rise to introduce the Thrift Savings Fund Improvement Act. This legislation to expand the investment options available to congressional and other federal employees by creating a precious metals investment fund in the Thrift Savings Plan (TSP). Adding a precious metals fund to the TSP will enhance the plan’s ability to offer congressional employees a wide range of investment options that can provide financial security even during difficult economic conditions.
saving
Thrift Savings Improvement Act
16 September 2003 2003 Ron Paul 99:3
The Thrift Savings Plan is one of the most important benefits offered to congressional employees. A strong TSP can obviously play a key role in attracting and retaining talented individuals to serve in the legislative branch. However, the three stock index funds in the Thrift Savings Plan have not recently performed well, especially when measured against inflation. In 2002, for example, losses from these funds were greater than three, four, and five percent, respectively, in the month of December and, more than 15, 18, and 22 percent, respectively, for the entire year!
saving
Thrift Savings Improvement Act
16 September 2003 2003 Ron Paul 99:4
In contrast, increases in gold spot prices more than offset the losses experienced by even the worst performing stock-indexed fund in the Thrift Savings Plan in 2002, with the price of gold increasing by nearly 25 percent in the year and by more than nine percent in December!
saving
Thrift Savings Improvement Act
16 September 2003 2003 Ron Paul 99:6
Federal employees could greatly benefit from the protection against inflation and economic downturns provided by prudent investments in precious metals. I, therefore, once again urge my colleagues to cosponsor the Thrift Savings Fund Improvement Act.
saving
Misguided Policy Of Nation Building In Iraq
17 October 2003 2003 Ron Paul 111:37
My answer is, what if you do find something? What does it prove? Does it prove that he was a threat to our national security? No way. Does it prove that it was a relationship to Iraq and 9/ 11? No way. So this obsession is for saving face and nothing more. If there was a major nuclear or chemical weapon available that was about to be unleashed against us, it would have surely been found by now, but that was not debated, but I am sure that search will go on, and “when something is found,” and I put that in quotes, there will be a lot of questions asked. More questions will be asked than answers given.
saving
A Wise Consistency
February 11, 2004 2004 Ron Paul 2:15
FDA and Legal Drugs—For Our Own Protection : Our laws and attitudes regarding legal drugs are almost as harmful. The FDA supposedly exists to protect the consumer and patients. This conclusion is based on an assumption that consumers are idiots and all physicians and drug manufacturers are unethical or criminals. It also assumes that bureaucrats and politicians, motivated by good intentions, can efficiently bring drugs onto the market in a timely manner and at reasonable cost. These same naïve dreamers are the ones who say that in order to protect the people from themselves, we must prohibit them from being allowed to re-import drugs from Canada or Mexico at great savings. The FDA virtually guarantees that new drugs come online slower and cost more money. Small companies are unable to pay the legal expenses, and don’t get the friendly treatment that politically connected big drug companies receive. If a drug seems to offer promise, especially for a life-threatening disease, why is it not available, with full disclosure, to anyone who wants to try it? No, our protectors say that no one gets to use it, or make their own decisions, until the FDA guarantees that each drug has been proven safe and effective. And believe me, the FDA is quite capable of making mistakes, even after years of testing. It seems criminal when cancer patients come to our congressional offices begging and pleading for a waiver to try some new drug. We call this a free society! For those who can’t get a potentially helpful drug but might receive a little comfort from some marijuana, raised in their own back yard legally in their home state, the heavy hand of the DEA comes down hard, actually arresting and imprisoning ill patients. Federal drug laws blatantly preempt state laws, adding insult to injury.
saving
The Financial Services Committees “Views and Estimates for 2005”
February 26, 2004 2004 Ron Paul 7:8
Government subsidies helped Fannie and Freddie triple their debt to more than $2.2 trillion from 1995 to 2002. Fannie and Freddie’s combined debt soon could surpass the privately held debt of the entire federal government. A taxpayer bailout of the GSEs would dwarf the savings-and-loan bailout of the early nineties and could run up the national debt to unmanageable levels.
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Unborn Victims Of Violence Act
26 February 2004 2004 Ron Paul 8:3
Of course, it is much easier to ride the current wave of federalizing every human misdeed in the name of saving the world from some evil than to uphold a constitutional oath which prescribes a procedural structure by which the Nation is protected from what is perhaps the worst evil, totalitarianism. Who, after all, wants to be amongst those Members of Congress who are portrayed as soft on violent crimes initiated against the unborn?
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Introducing Cassandra Tamez’s Essay Into The Congressional Record
2004 Ron Paul 29:6
Donating money . . . I am not rich. How could the amount of money that I give even help one person with cancer or in need of help? I have seen programs on T.V. that talk about saving the life of a child by just donating 88 cents a day. Then I began thinking about how much it costs for me to eat for just one day. I estimated that my food alone costs eight to fifteen dollars. How could a child survive on 88 cents a day? Is it possible?
saving
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 81:61
Reagan’s willingness to admit error and withdraw from Lebanon was heroic, and proved to be life-saving. True to form, many neo-cons with their love of war exude contempt for Reagan’s decision. To them force and violence are heroic, not reassessing a bad situation and changing policy accordingly.
saving
Introducing The Identity Theft protection Act
4 January 2005 2005 Ron Paul 2:4
Congressionally mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to Congress, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft. Yet the Federal Government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID.
saving
Government IDs and Identity Theft
January 6, 2005 2005 Ron Paul 5:4
Congressionally-mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to Congress, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft. Yet the federal government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID!
saving
Introducing The Make College Affordable Act
26 January 2005 2005 Ron Paul 11:2
Even families who plan and save well in advance for their children’s education may have a difficult time because their savings are eroded by taxation and inflation. The Make College Affordable Act will help these middle class students by allowing them, or their parents or guardians who claim them as dependents, to deduct the cost of college tuition as well as the cost of student loan repayments.
saving
Federalizing Abortion Law
27 April 2005 2005 Ron Paul 42:1
Mr. PAUL. Mr. Chairman, in the name of a truly laudable cause, preventing abortion and protecting parental rights, today the Congress could potentially move our Nation one step closer to a national police state by further expanding the list of Federal crimes and usurping power from the States to adequately address the issue of parental rights and family law. Of course, it is much easier to ride the current wave of criminally federalizing all human malfeasance in the name of saving the world from some evil than to uphold a constitutional oath, which prescribes a procedural structure by which the Nation is protected from what is perhaps the worst evil, totalitarianism carried out by a centralized government. Who, after all, wants to be amongst those Members of Congress who are portrayed as trampling parental rights or supporting the transportation of minor females across State lines for ignoble purposes.
saving
Statement Introducing Repeal Of Selective Service
18 May 2005 2005 Ron Paul 49:7
I hope all my colleagues join me in working to shut down this un-American relic of a bygone era and help realize the financial savings and the gains to individual liberties that can be achieved by ending Selective Service registration.
saving
Bad Policy For Base Closings
25 May 2005 2005 Ron Paul 52:6
I think the savings issue is a red herring. Between 1995 and 2001, the last base closing, $6.5 billion was spent, and $6.1 billion was saved. So we are spending more money than we are saving in closing down these bases.
saving
Bad Policy For Base Closings
25 May 2005 2005 Ron Paul 52:7
I have a quote here I want to read; it comes from a think tank, one of the defense policy think tanks. This to me is important. “The big story here is not going to be saving money; the big story is going to be preparing the force for future threats by moving it to more logical locations.” In other words, defending our borders, protecting our homeland, worry about defending this country is less important than spreading our troops and protecting the empire and expanding the empire and exposing us to greater danger.
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Bad Policy For Base Closings
25 May 2005 2005 Ron Paul 52:8
This is an issue of policy. This is an issue of process, and this is a red herring when you think you are saving money. We are not going to be saving money in this process. We are just going to be giving an excuse to build bases around the world.
saving
Military Appropriations
26 May 2005 2005 Ron Paul 53:3
Although I recognize the need for legitimate funds for military construction, I do remain concerned that the funds appropriated herein will be used to fund the construction of U.S. military installations overseas. At a time when we are closing dozens of military installations in the United States — installations that actually contribute to the defense of the United States — under the auspices of saving money, it is unconscionable to be spending money for the defense of foreign countries.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:32
Already we are seeing signs on the horizon that this free ride for us is coming to an end. Price inflation is alive and well and much worse than government statistics show. The sluggish economy suggests that the super stimulation of easy credit over the last decades is no longer sufficient to keep the economy strong. Our personal consumption and government spending are dependent on borrowing from foreign lenders. Artificially high standards of living can mask the debt accumulation that it requires while needed savings remain essentially nil.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:34
Centuries ago the notion of money introduced the world to trade and the principle of division of labor, ushering in for the first time a level of economic existence above mere subsistence. Modern fiat money with electronic transactions has given an additional boost to that prosperity. But unlike sound commodity money, fiat money, with easy credit and artificially low interest rates, causes distortions and mal-investments that require corrections. The modernization of electronic global transfers, which with sound money would be beneficial, has allowed for greater distortion and debt to be accumulated-- setting the stage for a much more serious period of adjustment requiring an economic downturn, liquidation of debt, and reallocation of resources that must come from savings rather than a central bank printing press.
saving
Introducing The Comprehensive Health Care Act
27 June 2005 2005 Ron Paul 75:4
Returning control over health care to the individual is the key to true health care reform. The Comprehensive Health Care Reform Act puts control of health care back into the hands of the individual through tax credits, tax deductions, Health Care Savings Accounts (HSA), and Flexible Savings Accounts. By giving individuals tax incentives to purchase their own health care, the Comprehensive Health Care Act will help more Americans obtain quality health insurance and health care. Specifically, the Comprehensive Health Care Act:
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Introducing The Comprehensive Health Care Act
27 June 2005 2005 Ron Paul 75:6
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA).
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Introducing The Comprehensive Health Care Act
27 June 2005 2005 Ron Paul 75:7
C. Makes every American eligible for an Health Savings Account (HSA), removes the requirement that individuals must obtain a high-deductible insurance policy to open an HSA; allows individuals to use their HSA to make premium payments for high-deductible policy; and allows senior citizens to use their HSA to purchase Medigap policies.
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Introducing The Comprehensive Health Care Act
27 June 2005 2005 Ron Paul 75:9
By providing a wide range of options, this bill allows individual Americans to choose the method of financing health care that best suits their individual needs. Increasing frustration with the current health care system is leading more and more Americans to embrace this approach to health care reform. For example, a poll by the respected Zogby firm showed that over 80 percent of Americans support providing all Americans with access to a Health Savings Account. I hope all my colleagues will join this effort to put individuals back in control of health care by cosponsoring the Comprehensive Health Care Reform Act.
saving
Introducing The Quality Health Care Coalition Act
27 June 2005 2005 Ron Paul 78:7
Mr. Speaker, it is my hope that Congress will not only remove the restraints on medical professionals’ freedom of contract, but will also empower patients to control their health care by passing my Comprehensive Health Care Reform Act. The Comprehensive Health Care Reform Act puts individuals back in charge of their own health care by providing Americans with large tax credits and tax deductions for their health care expenses, including a deduction for premiums for a high-deductible insurance policy purchased in combination with a Health Savings Account. Putting individuals back in charge of their own health care decisions will enable patients to work with providers to ensure they receive the best possible health care at the lowest possible price. If providers and patients have the ability to form the contractual arrangements that they find most beneficial to them, the HMO monster will wither on the vine without the imposition of new Federal regulations on the insurance industry.
saving
Why We Fight
September 8, 2005 2005 Ron Paul 95:61
Those who want to continue this war accuse those who lost loved ones in Iraq, and oppose the war, of using the dead for personal political gain. But what do the war proponents do when they claim the reason we must fight on is to honor the sacrifice of the military personnel we lost by completing the mission? The big difference is that one group argues for saving lives, while the other justifies more killing. And by that logic, the additional deaths will require even more killing to make sure they too have not died in vain. Therefore, the greater number who have died, the greater is the motivation to complete the mission. This defies logic. This argument to persevere has been used throughout history to continue wars that could and should have ended much sooner. This was true for World War I and Vietnam.
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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.
saving
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:37
The agreement with OPEC in the 1970s to price oil in dollars has provided tremendous artificial strength to the dollar as the preeminent reserve currency. This has created a universal demand for the dollar and soaks up the huge number of new dollars generated each year. Last year alone, M3 increased by over $700 billion. The artificial demand for our dollar, along with our military might, places us in the unique position to “rule” the world without productive work or savings and without limits on consumer spending or deficits. The problem is it cannot last.
saving
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.
saving
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:98
Is it any wonder jobs go overseas? True capital only comes from savings, and Americans save nothing. We only borrow and consume. A counterfeiter has no incentive to take his newly created money and build factories. The incentive for Americans is to buy consumers goods from other countries whose people are willing to save and invest in their factories and jobs. The only way we can continue this charade is to borrow excess dollars back from the foreign governments who sell us goods and perpetuate the pretense of wealth that we enjoy.
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Introduction Of The Sunshine In Monetary Policy Act
7 March 2006 2006 Ron Paul 10:1
Mr. PAUL. Mr. Speaker, I rise to introduce the Sunshine in Monetary Policy Act, which requires the Federal Reserve to resume reporting the monetary measure known as M3. M3 consists of M1 (M1 is currency in circulation plus travelers’ checks, demand deposits, Negotiable Order of Withdrawal (NOW) accounts, and similar interest-earning checking account balances) plus M2 (M2 is M1 plus household holdings of savings deposits, small time deposits, and retail money market mutual funds balances except for balances held in IRA and Keogh accounts) plus institutional money market mutual fund balances and managed liabilities of deposits consisting of large time deposits, repurchase agreements, and Eurodollars.
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Introduction Of The Sunshine In Monetary Policy Act
7 March 2006 2006 Ron Paul 10:5
Economists and others who are following M3 have become increasingly concerned about inflation because last year the rate of M3 rose almost twice as fast as other monetary aggregates. This suggests that the inflation picture is not as rosy as the Federal Reserve would like Congress and the American people to believe. Discontinuing reporting the monetary aggregate that provides the best evidence that the Federal Reserve Board has not conquered inflation suggests to many people that the government is trying to conceal information about the true state of the economy from the American people. Brad Conrad, a professor of investing who has also worked with IBM, CDC, and Amdahl, spoke for many when he said, “It [the discontinuance of M3] is unsettling. It detracts from the transparency the Fed preaches and adds to the suspicion that the Fed wants to hide anything showing money growth high enough to fuel inflation...” Discontinuing reporting M3 will only save 0.00000699% of the Federal Reserve Board’s yearly budget. This savings hardly seems to justify depriving the American people of an important measurement of money supply, especially since Congress has tasked the Federal Reserve Board with reporting on monetary aggregates.
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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 21:55
A sound economic process is disrupted with a war economy and monetary inflation. Strong voices emerge blaming the wrong policies for our problems, prompting an outcry for protectionist legislation. It is always easier to blame foreign producers and savers for our inflation, our lack of savings, excessive debt and loss of industrial jobs. Protectionist measures only make economic conditions worse. Inevitably these conditions, if not corrected, lead to a lower standard of living for most of our citizens.
saving
Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:6
Buying gold and holding it is somewhat analogous to converting one’s saving into $100 bills and hiding them under the mattress, yet not exactly the same. Both gold and dollars are considered money, and holding money does not qualify as an investment. There is a big difference between the two, however, since by holding paper money, one loses purchasing power. The purchasing power of commodity money, that is gold, however, goes up if the government devalues the circulating paper currency.
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Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:33
The Fed tries to keep the consumer spending spree going, not through hard work and savings, but by creating artificial wealth in stock market bubbles and housing bubbles. When these distortions run these courses and are discovered, the corrections will be quite painful as was witnessed with the collapse of the NASDAQ bubble. Likewise a fiat monetary system encourages speculation and unsound borrowing.
saving
Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:46
False trust placed in the dollar once was helpful to us, but panic and rejection of the dollar will develop into a real financial crisis. Then we will have no other option but to tighten our belts, go back to work, stop borrowing, start saving, and rebuild our industrial base while adjusting to a lower standard of living for most Americans. Counterfeiting the Nation’s money is a serious offense.
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Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:73
Saving and thrift are encouraged by gold standard and discouraged by paper money.
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Praise For U.S. Coast Guard In Texas
24 May 2006 2006 Ron Paul 41:8
During the Houston-based response operation for Hurricane Rita, the Air Station coordinated over 61 missions and 123 sorties resulting in 205 mishap-free flight hours and the saving of 32 lives in a one week period. During this time, Air Station Houston also provided invaluable support to Gulf Coast based cutters including CGC Cypress, which allowed them to quickly fix the position of displaced waterway buoys, enabling the reopening of vital waterways and the free-flow of commerce in and out of the Gulf.
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Military Personnel Financial Services Protection Act
20 September 2006 2006 Ron Paul 82:3
When the Congress last looked at this product in 1970, we recognized periodic payment mutual funds are a valuable means to help encourage savings by people who do not have large amounts of discretionary income. I have seen no evidence in the record indicating that the judgment then was incorrect. In fact, testimony received by the Financial Services Committee indicates that these periodic payment mutual funds are working for those military members choosing to utilize them.
saving
Overstepping Constitutional Authority
26 September 2006 2006 Ron Paul 86:1
Mr. PAUL. Mr. Speaker, in the name of a truly laudable cause (preventing abortion and protecting parental rights), today the Congress could potentially move our Nation one step closer to a national police state by further expanding the list of Federal crimes and usurping power from the States to adequately address the issue of parental rights and family law. Of course, it is much easier to ride the current wave of criminally federalizing all human malfeasance in the name of saving the world from some evil than to uphold a Constitutional oath which prescribes a procedural structure by which the nation is protected from what is perhaps the worst evil, totalitarianism carried out by a centralized government. Who, after all, wants to be amongst those Members of Congress who are portrayed as trampling parental rights or supporting the transportation of minor females across state lines for ignoble purposes.
saving
Introduction Of Legislation Repealing Two Unconstitutional And Paternalistic Federal Financials Regulations
29 September 2006 2006 Ron Paul 97:1
Mr. PAUL. Mr. Speaker, I am pleased to introduce legislation repealing 2 unconstitutional and paternalistic federal financial regulations. First, this legislation repeals a federal regulation that limits the number of withdrawals someone can make from a savings account in a month’s time without being assessed financial penalties. As hard as it is to believe, the Federal Government actually forces banks to punish people for accessing their own savings too many times in a month. This bill also repeals a regulation that requires bank customers to receive a written monthly financial statement from their banks, regardless of whether the customer wants such a communication.
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Milton Friedman
6 December 2006 2006 Ron Paul 100:26
“We, the undersigned, oppose moves toward the reimposition of the draft. The draft would be a more costly way of maintaining the military than an all-volunteer force. Those who claim that a draft costs less than a volunteer military cite as a savings the lower wages that the government can get away with paying draftees. But they leave out the burden imposed on the draftees themselves. Since a draft would force many young people to delay or forego entirely other activities valuable to them and to the rest of society, the real cost of military manpower would be substantially more than the wages draftees would be paid. Saying that a draft would reduce the cost of the military is like saying that the pyramids were cheap because they were built with slave labor.”
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Introducing The Make College Affordable Act
4 January 2007 2007 Ron Paul 6:2
Even families who plan and save well in advance for their children’s education may have a difficult time because their savings are eroded by taxation and inflation. The Make College Affordable Act will help these middle class students by allowing them, or their parents or guardians who claim them as dependents, to deduct the cost of college tuition as well as the cost of student loan repayments.
saving
Identity Theft Protection Act
5 January 2007 2007 Ron Paul 8:4
Congressionally-mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to Congress, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft. Yet the Federal Government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID!
saving
Introduction Of Legislation To Repeal The Selective Service Act And Related Parts Of The United States Code
11 January 2007 2007 Ron Paul 13:6
I hope all my colleagues join me in working to shut down this un-American relic of a bygone era and help realize the financial savings land the gains to individual liberties that can be achieved by ending Selective Service registration.
saving
Statement for Hearing before the House Financial Services Committee, “Monetary Policy and the State of the Economy”
15 February 2007 2007 Ron Paul 32:18
How can a policy of steadily debasing our currency be defended morally, knowing what harm it causes to those who still believe in saving money and assuming responsibility for themselves in their retirement years? Is it any wonder we are a nation of debtors rather than savers?
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The Real Reason To Oppose The Supplemental Appropriation
20 March 2007 2007 Ron Paul 36:9
The constant refrain that bringing our troops home would demonstrate a lack of support for them must be one of the most amazing distortions ever foisted on the American public. We are so concerned about saving face, but whose face are we saving? A sensible policy would save American lives and follow the rules laid out for Congress in the Constitution, and avoid wars that have no purpose.
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Genetic Information Non-discrimination Act
25 April 2007 2007 Ron Paul 44:3
The best way to address the sponsors of H.R. 493’s legitimate concerns is to put individuals back in control of the health care dollar. When individuals control the health care dollar they, not their employers, insurance companies or Health Maintenance Organizations, can make all health care decisions, including whether or not to share individual genetic histories with a potential employer, insurer, or other third party. Therefore, instead of creating more Federal regulations and bureaucracies, my colleagues should increase individual control of health care by passing legislation expanding Health Savings Accounts and individual health care tax credits and deductions.
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Introduction Of The Freedom To Bank Act
1 May 2007 2007 Ron Paul 47:1
Mr. PAUL. Madam Speaker, I am pleased to introduce legislation repealing two unconstitutional and paternalistic Federal financial regulations. First, this legislation repeals a Federal regulation that limits the number of withdrawals someone can make from a savings account in a month’s time without being assessed financial penalties. As hard as it is to believe, the Federal Government actually forces banks to punish people for accessing their own savings too many times in a month. This bill also repeals a regulation that requires bank customers to receive a written monthly financial statement from their banks, regardless of whether the customer wants such a communication.
saving
Opening Statement Committee on Financial Services World Bank Hearing
22 May 2007 2007 Ron Paul 56:2
Like many bureaucracies, the World Bank has constantly attempted to reinvent itself and redefine its mission. Some critics have referred to this as “mission creep.” It is the reaction of self-interested bureaucrats who are intent on saving their jobs at all costs. The non-institutional elements of Bretton Woods, such as the gold-backed dollar standard, have gone by the wayside, but the World Bank and the IMF soldier on.
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Introduction Of The Federal reserve Board Abolition Act
15 June 2007 2007 Ron Paul 65:3
With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.
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Introduction Of The Sunshine In Monetary Policy Act
15 June 2007 2007 Ron Paul 66:1
Mr. PAUL. Madam Speaker, I rise to introduce the Sunshine in Monetary Policy Act, which requires the Federal Reserve to resume reporting the monetary measure known as M3. M3 consists of M1, M1 is currency in circulation plus travelers’ checks, demand deposits, Negotiable Order of Withdrawal, NOW, accounts, and similar interest-earning checking account balances; M2, M2 is M1 plus household holdings of savings deposits, small time deposits, and retail money market mutual funds balances except for balances held in IRA and Keogh accounts, plus institutional money market mutual fund balances and managed liabilities of deposits consisting of large time deposits, repurchase agreements, and Eurodollars.
saving
Introduction Of The Sunshine In Monetary Policy Act
15 June 2007 2007 Ron Paul 66:6
Discontinuing reporting M3 was only expected to save 0.00000699 percent of the Federal Reserve Board’s yearly budget. This savings hardly seems to justify depriving the American people of an important measurement of money supply, especially since Congress has tasked the Federal Reserve Board with reporting on monetary aggregates. Discontinuing reporting M3 may not be a violation of the letter of the Federal Reserve Board’s statutory duty, but it is a violation of the spirit of the congressional command that the Federal Reserve Board ensure the American public is fully informed about the effects of monetary policy.
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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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Darfur Accountability and Divestment Act
30 July 2007 2007 Ron Paul 77:3
H.R. 180 is an interventionist piece of legislation which will extend the power of the Federal Government over American businesses, force this country into yet another foreign policy debacle, and do nothing to alleviate the suffering of the residents of Darfur. By allowing State and local governments to label pension and retirement funds as State assets, the Federal Government is giving the go-ahead for State and local governments to play politics with the savings upon which millions of Americans depend for security in their old age. The safe harbor provision opens another dangerous loophole, allowing fund managers to escape responsibility for any potential financial mismanagement, and it sets a dangerous precedent. Would the Congress offer the same safe harbor provision to fund managers who wish to divest from firms offering fatty foods, growing tobacco, or doing business in Europe?
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Introducing The Quality Health Care Coalition Act
2 August 2007 2007 Ron Paul 84:7
Madam Speaker, it is my hope that Congress will not only remove the restraints on medical professionals’ freedom of contract, but will also empower patients to control their health care by passing my Comprehensive Health Care Reform Act. The Comprehensive Health Care Reform Act puts individuals back in charge of their own health care by providing Americans with large tax credits and tax deductions for their health care expenses, including a deduction for premiums for a high-deductible insurance policy purchased in combination with a Health Savings Account. Putting individuals back in charge of their own health care decisions will enable patients to work with providers to ensure they receive the best possible health care at the lowest possible price. If providers and patients have the ability to form the contractual arrangements that they find most beneficial to them, the HMO monster will wither on the vine without the imposition of new federal regulations on the insurance industry.
saving
Introducing The Comprehensive Health Care Act
2 August 2007 2007 Ron Paul 86:4
Returning control over health care to the individual is the key to true health care reform. The Comprehensive Health Care Reform Act puts control of health care back into the hands of the individual through tax credits, tax deductions, Health Care Savings Accounts (HSA), and Flexible Savings Accounts. By giving individuals tax incentives to purchase their own health care, the Comprehensive Health Care Act will help more Americans obtain quality health insurance and health care. Specifically, the Comprehensive Health Care Act:
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Introducing The Comprehensive Health Care Act
2 August 2007 2007 Ron Paul 86:6
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA).
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Introducing The Comprehensive Health Care Act
2 August 2007 2007 Ron Paul 86:7
C. Makes every American eligible for a Health Savings Account (HSA), removes the requirement that individuals must obtain a high-deductible insurance policy to open an HSA; allows individuals to use their HSA to make premiums payments for high-deductible policy; and allows senior citizens to use their HSA to purchase Medigap policies.
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Introducing The Comprehensive Health Care Act
2 August 2007 2007 Ron Paul 86:9
By providing a wide range of options, this bill allows individual Americans to choose the method of financing health care that best suits their individual needs. Increasing frustration with the current health care system is leading more and more Americans to embrace this approach to health care reform. For example, a poll by the respected Zogby firm showed that over 80 percent of Americans support providing all Americans with access to a Health Savings Account. I hope all my colleagues will join this effort to put individuals back in control of health care by cosponsoring the Comprehensive Health Care Reform Act.
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Statement before the Financial Services Committee
20 September 2007 2007 Ron Paul 93:4
Reduction in the interest rate has two major effects: it encourages consumption over saving; and it makes long-term, capital-intensive projects cheaper to undertake. Under Chairman Greenspan's tenure, the federal funds rate was so low that the real interest rate (that is the nominal interest rate minus inflation) was negative. With a negative real interest rate, someone who saves money will literally lose the value of that money.
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Introducing The Free Competition In Currency Act
13 December 2007 2007 Ron Paul 110:3
Due to nearly a century of inflationary monetary policy on the part of the Federal Reserve, the U.S. dollar stands at historically low levels. Investors around the world are shunning the dollar, and millions of Americans see their salaries, savings accounts, and pensions eroded away by rising inflation. We stand on the precipice of an unprecedented monetary collapse, and as a result many people have begun to look for alternatives to the dollar.
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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 on HR 1424
October 3, 2008 2008 Ron Paul 67:4
With deposit insurance increasing to $250,000 and banks able to set their reserves to zero, we will undoubtedly see future increases in unsound lending. No one in our society seems to understand that wealth is not created by government fiat, is not created by banks, and is not created through the manipulation of interest rates and provision of easy credit. A debt-based society cannot prosper and is doomed to fail, as debts must either be defaulted on or repaid, neither resolution of which presents this country with a pleasant view of the future. True wealth can only come about through savings, the deferral of present consumption in order to provide for a higher level of future consumption. Instead, our government through its own behavior and through its policies encourages us to live beyond our means, reducing existing capital and mortgaging our future to pay for present consumption.
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INTRODUCTION OF THE IDENTITY THEFT PREVENTION ACT
January 6, 2009 2009 Ron Paul 4:4
Congressionally-mandated use of the Social Security number as an identifier facilitates the horrendous crime of identity theft. Thanks to Congress, an unscrupulous person may simply obtain someone’s Social Security number in order to access that person’s bank accounts, credit cards, and other financial assets. Many Americans have lost their life savings and had their credit destroyed as a result of identity theft. Yet the federal government continues to encourage such crimes by mandating use of the Social Security number as a uniform ID!
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Bailout
January 14, 2009 2009 Ron Paul 8:6
Actually, the recession is therapy for all of the mistakes, but the mistakes come, basically, from a Federal Reserve system that’s causing too many people to make mistakes. It causes savers to make mistakes. Interest rates are lower than they should be, so they don’t save. In capitalism, capital comes from savings, but for decades now, capital has come from the printing press, and nobody has saved.
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LIVING BENEATH OUR MEANS
January 21, 2009 2009 Ron Paul 10:3
The fiction that the appreciating prices of houses and stocks and other assets serve as savings is always self- limited and ends with pain. Without a source of newly borrowed funds, once the value of stocks and houses depreciates, the individual comes to the realization that hard work and effort are required to produce sustained wealth. Working minimally is replaced with working maximally to survive, as well as to pay for the extravagance of previous years. The consequence is more work and a diminished standard of living.
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LIVING BENEATH OUR MEANS
January 21, 2009 2009 Ron Paul 10:10
Even massive bailouts cannot work. If they did, no person in the United States would ever have to work again. We need to wake up and recognize the importance of sound money. We need to reintroduce the work ethic. We must once again cherish savings over consumption. We must recognize that an overextended foreign policy has been the downfall of all great nations. And, above all else, we need to simply believe once again in the free society that made America great.
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FEDERAL RESERVE BOARD ABOLITION ACT
February 3, 2009 2009 Ron Paul 14:3
With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.
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FEDERAL RESERVE IS THE CULPRIT
February 25, 2009 2009 Ron Paul 17:2
Artificially low interest rates are achieved by inflating the money supply. Low interest rates penalize the thrifty, and those who save are cheated. It promotes consumption and borrowing over savings and investing. Manipulating interest rates is an immoral act, it is economically destructive. The policy of artificially low interest rates caused our problems and, therefore, cannot be the solution.
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The Federal Reserve Transparency Act
February 26, 2009 2009 Ron Paul 20:1
Mr. PAUL. Madam Speaker, I rise to introduce the Federal Reserve Transparency Act. Throughout its nearly 100-year history, the Federal Reserve has presided over the near- complete destruction of the United States dollar. Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy. How long will we as a Congress stand idly by while hard-working Americans see their savings eaten away by inflation? Only big-spending politicians and politically favored bankers benefit from inflation.
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EARMARKS
March 10, 2009 2009 Ron Paul 24:2
The truth is that if you removed all the earmarks from the budget, you would remove 1 percent of the budget. So there’s not a lot of savings. But, even if you voted against all the earmarks actually, you don’t even save the 1 percent because you don’t save any money.
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THRIFT SAVINGS FUND IMPROVEMENT ACT
March 10, 2009 2009 Ron Paul 25:1
Mr. PAUL. Madam Speaker, I rise to introduce the Thrift Savings Fund Improvement Act. This legislation expands the investment options available to congressional and other federal employees by creating a precious metals investment fund in the Thrift Savings Plan (TSP). Adding a precious metals fund to the TSP will enhance the plan’s ability to offer congressional employees a wide range of investment options that can provide financial security even during difficult economic conditions.
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THRIFT SAVINGS FUND IMPROVEMENT ACT
March 10, 2009 2009 Ron Paul 25:2
The Thrift Savings Plan is one of the most important benefits offered to congressional employees. A strong TSP can obviously play a key role in attracting and retaining talented individuals to serve in the legislative branch. Adding a precious metals option will strengthen the TSP. In the last year, the price of gold rose by 5.5 percent while the Dow Jones experienced one of its worst years ever, falling by 33.8 percent, while the NASDQ declined by 40.5 percent!
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THRIFT SAVINGS FUND IMPROVEMENT ACT
March 10, 2009 2009 Ron Paul 25:4
Federal employees could greatly benefit from the protection against inflation and economic downturns provided by prudent investments in precious metals. I, therefore, once again urge my colleagues to cosponsor the Thrift Savings Fund Improvement Act.
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THE FREEDOM TO BANK ACT
March 10, 2009 2009 Ron Paul 26:1
Mr. PAUL. Madam Speaker, I am pleased to introduce legislation repealing two unconstitutional and paternalistic federal financial regulations. First, this legislation repeals a federal regulation that limits the number of withdrawals someone can make from a savings account in a month’s time without being assessed financial penalties. As hard as it is to believe, the federal government actually forces banks to punish people for accessing their own savings too many times in a month. This bill also repeals a regulation that requires bank customers to receive a written monthly financial statement from their banks, regardless of whether the customer wants such a communication.
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COMPREHENSIVE HEALTH CARE REFORM ACT
March 12, 2009 2009 Ron Paul 28:3
Returning control over health care to the individual is the key to true health care reform. The Comprehensive Health Care Reform Act puts control of health care back into the hands of the individual through tax credits, tax deductions, improving Health Savings Accounts, and Flexible Savings Accounts. Specifically, the Comprehensive Health Care Reform Act:
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COMPREHENSIVE HEALTH CARE REFORM ACT
March 12, 2009 2009 Ron Paul 28:5
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA);
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COMPREHENSIVE HEALTH CARE REFORM ACT
March 12, 2009 2009 Ron Paul 28:6
C. Provides a tax credit for premiums for a high-deductible insurance policy connected with a Health Savings Account (HSA) and allows seniors to use funds in an HSA to pay for a medigap policy;
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INTRODUCING THE QUALITY HEALTH CARE COALITION ACT
March 12, 2009 2009 Ron Paul 29:7
Madam Speaker, it is my hope that Congress will not only remove the restraints on medical professionals’ freedom of contract, but will also empower patients to control their health care by passing my Comprehensive Health Care Reform Act. The Comprehensive Health Care Reform Act puts individuals back in charge of their own health care by providing Americans with large tax credits and tax deductions for their health care expenses, including a deduction for premiums for a high-deductible insurance policy purchased in combination with a Health Savings Account. Putting individuals back in charge of their own health care decisions will enable patients to work with providers to ensure they receive the best possible health care at the lowest possible price. If providers and patients have the ability to form the contractual arrangements that they find most beneficial to them, the HMO monster will wither on the vine without the imposition of new federal regulations on the insurance industry.
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Statement on Comprehensive Healthcare Reform Act
March 26, 2009 2009 Ron Paul 39:3
Returning control over health care to the individual is the key to true health care reform. The Comprehensive Health Care Reform Act puts control of health care back into the hands of the individual through tax credits, tax deductions, improving Health Savings Accounts, and Flexible Savings Accounts. Specifically, the Comprehensive Health Care Reform Act:
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Statement on Comprehensive Healthcare Reform Act
March 26, 2009 2009 Ron Paul 39:5
B. Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA);
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Statement on Comprehensive Healthcare Reform Act
March 26, 2009 2009 Ron Paul 39:6
C. Provides a tax credit for premiums for a high-deductible insurance policy connected with a Health Savings Account (HSA) and allows seniors to use funds in an HSA to pay for a medigap policy;
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INTRODUCING THE MAKE COLLEGE AFFORDABLE ACT
April 2, 2009 2009 Ron Paul 46:2
Even families who plan and save well in advance for their children’s education may have a difficult time because their savings are eroded by taxation and inflation. The Make College Affordable Act will help these middle-class students by allowing them, or their parents or guardians who claim them as dependents, to deduct the cost of college tuition as well as the cost of student loan repayments.
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INTRODUCTION OF COERCION IS NOT HEALTH CARE
May 21, 2009 2009 Ron Paul 58:6
Madam Speaker, the key to effective health care reform lies not in increasing government control, but in increasing the American people’s ability to make their own health care decisions. Thus, instead of forcing Americans to purchase government-approved health insurance, Congress should put the American people back in charge of health care by expanding health care tax credits and deductions, as well as increasing access to Health Savings Accounts. Therefore, I have introduced legislation, the Comprehensive Health Care Reform Act (H.R. 1495), which provides a series of health care tax credits and deductions designed to empower patients. I urge my colleagues to reject the big government-knows- best approach to health care by cosponsoring my Coercion is Not Health Care Act and Comprehensive Health Care Reform Act.
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TRANSPARENCY AT THE FEDERAL RESERVE
December 1, 2009 2009 Ron Paul 100:4
The Federal Reserve’s monetary inflation, indeed, does push the CPI upward, but concentrating on the government’s reports of the CPI and the PPI is nothing more than the distraction from the other harm done by the Federal Reserve’s effort at central economic planning through secret monetary policy operations. Real inflation, the expansion of our money supply, is greatly undercounted by these indices. In response to our latest financial crisis, the Federal Reserve turned on its printing press and literally doubled the monetary base. This staggering creation of dollars has yet to be reflected in many consumer prices, but will ultimately hit the middle class and poor with a cruel devaluation of their savings and real earnings.
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- Fear of IRS misplaced, real problem is the system
20 April 1997 Texas Straight Talk 20 April 1997 verse 4 ... Cached
Imagine that you have taken a position contrary to the official dictates of the government in your nation. Instead of simply facing criticism from opposing political sides, you find your life turned upside-down; every aspect of your life is closely scrutinized. Without warning, your life savings are seized, your personal, private records divulged far and wide. Suddenly, how willing are you to continue holding your views?
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- Paul's legislation focuses on individual liberty
25 August 1997 Texas Straight Talk 25 August 1997 verse 15 ... Cached
But the biggest winner is the consumer, who benefits either way: with fewer regulations and lower taxes consumers will see savings in their banking costs, while the needed flexibility for credit unions will give individuals greater choices in their financial dealings as competition between institutions increases.
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- By Any Other Name, A Tax Is Still A Tax
27 October 1997 Texas Straight Talk 27 October 1997 verse 8 ... Cached
While my legislation is still working its way through the committee process, I signed on as an original cosponsor to a bill to let parents create special education savings accounts with tax-free interest. While this legislation was not as strong as I would have liked, I favor anything that gives parents more control over education.
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- Taxes and regulations will never lead to prosperity
08 December 1997 Texas Straight Talk 08 December 1997 verse 8 ... Cached
We are endlessly compelled to be licensed for all that we do, so as to provide government more funding for our trouble. Rules and regulations are all around us, from morning to night, cradle to grave. Government taxes life, taxes death, taxes success and taxes savings. We suffer from double and triple taxation.
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Giving power to parents is truly pro-education
20 April 1998 Texas Straight Talk 20 April 1998 verse 9 ... Cached
I have sponsored one piece of legislation, and cosponsored a second, which addresses this issue. My legislation would allow parents to take up to $3,000 a year per child in tax credits for their educational expenses, such as private, church and home school settings, as well as tutors, books and similar necessities. The credit applies even if the kids are in public schools. The other legislation is similar to Individual Retirement Accounts, but are for educational purposes. Parents would be allowed to set aside money in special savings accounts, the interest on which would not be taxed unless the money is used for non-educational purposes.
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MSAs best option for better health care
10 August 1998 Texas Straight Talk 10 August 1998 verse 7 ... Cached
But there is a better way, a way which has been gaining attention and even a growing degree of political respectability; the better way is the medical savings account, otherwise known as MSAs.
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Deceptive economic euphoria
17 August 1998 Texas Straight Talk 17 August 1998 verse 8 ... Cached
It does not go unnoticed by people outside the Washington, DC, that the cost of living continues to rise despite the government's rosey reports. Personal bankruptcies are at a record high level, and the 18% interest on consumer debt is a lot different from interest earned on savings accounts.
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Economic crisis looms
19 October 1998 Texas Straight Talk 19 October 1998 verse 10 ... Cached
If the problem was merely that there were not enough money, then money creation alone could make us all millionaires and no one would have to work. But increasing the money supply does not increase wealth. Only work and savings do that. The deception comes because, for a while for the lucky few, benefits are received when governments inflate the currency and pass it out for political reasons.
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Medical costs can be cut with freedom
14 December 1998 Texas Straight Talk 14 December 1998 verse 15 ... Cached
A more viable solution is to let the consumer and his doctors pull themselves out of the system, by means of medical savings accounts. While this does not solve the entire problem, it provides a larger degree of freedom for those who desire it.
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Embargoes most destructive at home
28 December 1998 Texas Straight Talk 28 December 1998 verse 14 ... Cached
Third, embargoes are more often levied for political points, rather than sound policy. In times of war, it is perhaps reasonable to expect government to prevent Americans from selling goods to our declared enemies. But in a time of peace, it is difficult to imagine the benefits to our people, or others, of an embargo. There was no consistency in having had economic relations with the Soviet Union, a nation that pointed nuclear missiles at our shores for decades, while refusing to allow American pharmaceutical companies to sell life-saving drugs to the people in Cuba, a poor island country with no weapons that could endanger us.
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Federal government needs to step out of education
04 January 1999 Texas Straight Talk 04 January 1999 verse 12 ... Cached
Another useful tool for parents is the Education Savings Account. This would allow parents to place pre-tax dollars in designated accounts to spend on their children's education.
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A New Pandora's Box
25 January 1999 Texas Straight Talk 25 January 1999 verse 13 ... Cached
This president firmly believes government knows best -- in everything. While he would deny individual Americans the right to divert a portion of their Social Security taxes to savings and investment programs of their choosing, this president would dump billions into the stock market so he and his cronies can effectively nationalize our economy, while using the proceeds to pay for more needless government programs.
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Get to know your banker
12 April 1999 Texas Straight Talk 12 April 1999 verse 5 ... Cached
A smirk because they knew what most Americans do not: most big banks already have "Know Your Customer" programs in place. The regulations by that name, proposed last December, would require banks to keep records on the spending and savings habits of every client, with any deviation at all being reported to the IRS, FBI, DEA and other government agencies as being "suspicious." Those agencies, in turn, would be able to freeze accounts and seize assets -- essentially destroying a person's life -- without there ever being a court order or proof of criminal wrongdoing.
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A new declaration: more liberty, fewer taxes
05 July 1999 Texas Straight Talk 05 July 1999 verse 12 ... Cached
Now is the time for Congress to pass the American Values Tax Savings Act of 1999, of which I am a cosponsor. This legislation will eliminate the marriage penalty tax, the death tax, the alternative minimum tax, reduce the capital gains tax, and increase the pre-tax contribution levels for IRAs. This measure would provide almost $800 billion in tax relief by 2009 if passed this year.
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Draft not needed for protection of liberty
23 August 1999 Texas Straight Talk 23 August 1999 verse 10 ... Cached
The draft is foreign to the precepts of liberty. If there is ever a threat to our national survival, people will serve if they believe liberty is worth saving; droves of men rushed to volunteer for service after Japan attacked in 1941. The burden rests on those in elected office to ensure our free society remains one in which the people are willing to fight, even to death, for its continuation. In our Constitution, the founding fathers provided for this mechanism by ensuring all would be free to be armed so that they may rise up in defense of liberty.
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Confused priorities
04 October 1999 Texas Straight Talk 04 October 1999 verse 6 ... Cached
The tax package included what was a minor proposal that would have been a great benefit to people in agriculture. The measure would have allowed farmers and ranchers to set aside pre-tax income in special savings accounts to use in bad years. Such accounts would have granted agriculture the ability to extricate itself from the whims of Washington bureaucrats and politicians.
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Best medicine is liberty
18 October 1999 Texas Straight Talk 18 October 1999 verse 14 ... Cached
The most important thing Congress can do is to stop practicing medicine and allow market forces to operate by allowing Medical Savings Accounts (MSAs) for everyone. Patient motivation to save and shop would be a major force in reducing cost, as physicians would once again negotiate fees with patients. MSAs would help satisfy the American's people's desire to control their own health care and provide incentives for consumers to take more responsibility for their care. MSAs will also allow those consumers to do business with insurance provider of their choice, who will cover the needs and procedures for which that family is willing and able to pay.
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Time to Change Priorities
08 November 1999 Texas Straight Talk 08 November 1999 verse 8 ... Cached
But, instead of working to end the estate tax, or keep our promises with Social Security, or insuring patient choice through medical savings accounts, we waste our time on low priority items. And, instead of looking to our nation's future, like giving parents a true choice in education by providing them with a battery of education-related tax credits, we have two thirds in Congress voting to support continued and expanded participation in a cold war relic.
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Overall Review
27 December 1999 Texas Straight Talk 27 December 1999 verse 9 ... Cached
Last year we won some victories, small though they may be, because the people spoke. People contacted their Members of Congress and US Senators, often saying, "Enough is enough! It is time for a change!" I know this because I hear from my colleagues who tell me that they have received calls and letters, e-mails and faxes. They tell me their constituents agree with our perspective and our agenda. Namely, my colleagues here know that there is a growing movement to get the federal government off the backs and out of the pocketbooks of the American people. Ideas like medical savings accounts, education tax credits and others are gaining momentum.
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The New Year
10 January 2000 Texas Straight Talk 10 January 2000 verse 8 ... Cached
But government bureaucrats never miss a chance to emphasize their importance. If indeed, the problem was not severe as it appears, it's interesting to note the high visibility in the past months of Y2K Czar, John Koskinen. He now seeks credit for saving the country from chaos. The government Information Coordination Center headed up by Koskinen and his consultants is already looking for another dragon to slay. They are now working to make the Center permanent for the purpose of monitoring any possible technological crisis in the future. The experts at the Center believe the World Wide Web needs closer monitoring. Koskinen concerns are: "information security, whether it's from viruses, hackers, cyber-terrorists, or others, and our ability to share information is critical."
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Greenspan Nominated to a Fourth Term
17 January 2000 Texas Straight Talk 17 January 2000 verse 6 ... Cached
But one thing ignored is the fact that a fiat monetary system is incompatible with a free market economy. Instead of depending on production and savings for capital, today's economy depends on new "capital" coming from the Fed's credit machine. When credit is created out of thin air for investment purposes and interest rates are driven artificially low, mal-investment results. This monetary inflation, of which we have had plenty, has already set the stage for the next recession.
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The World Trade Organization
20 March 2000 Texas Straight Talk 20 March 2000 verse 4 ... Cached
The economic argument for free trade should be no more complex than the moral argument. Tariffs are taxes that penalize those who buy foreign goods. If taxes are low on imported goods, consumers benefit by being able to buy at the best price, thus saving money to buy additional goods and raise their standard of living. The competition stimulates domestic efforts and hopefully serves as an incentive to get onerous taxes and regulations reduced.
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Repeal of Un-American "Death Tax" Passes House
12 June 2000 Texas Straight Talk 12 June 2000 verse 6 ... Cached
The entire concept of the death tax is not only destructive to families, but is also extremely harmful to the economy. It gives people less incentive to save and more incentive to spend because of the relatively high rate at which estates are taxed. Thus, it results in a disincentive to parents to leave their children a family business, family farm or their savings. A recent study from George Mason University found that within eight years of eliminating the death tax, the gross domestic product would be $80 billion larger than expected, resulting in 250,000 new jobs.
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Repeal of Un-American "Death Tax" Passes House
12 June 2000 Texas Straight Talk 12 June 2000 verse 8 ... Cached
In a word, the death tax is simply un-American. People should not be punished for working hard their entire lives, creating jobs and wealth for others, and then trying to leave some of it so their children can have better lives. I applaud the members of the House who had the courage to cast the historic vote today to repeal the death tax. Now, I call on the members of the Senate and the President to support this legislation. The time has come to create a government that is supportive, not oppressive to the small business owner and the family farmer. If we put our faith in the American people, instead of the government, we will increase individual savings, promote job creation and, most importantly, support the family structure.
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Lower Taxes Encourage Saving for Retirement
24 July 2000 Texas Straight Talk 24 July 2000 verse 2 ... Cached
Lower Taxes Encourage Saving for Retirement
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Lower Taxes Encourage Saving for Retirement
24 July 2000 Texas Straight Talk 24 July 2000 verse 4 ... Cached
This week the House of Representatives voted to support H.R. 1102, the "Comprehensive Retirement Security and Pension Reform" bill. The bill increases the deductible amounts individuals may contribute to their IRAs, while also increasing tax-deferred amounts that may be contributed to 401(k) pension plans. While I certainly supported the bill based on its tax relief, I also applaud the underlying principle of encouraging private retirement saving by allowing individuals to keep more of their paychecks. American taxpayers know that the best way for them to save for their retirement is to invest their pre-tax dollars in private pensions and retirement accounts. Taxpayers, rather than the federal government, should be the stewards of their own hard-earned retirement savings.
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Lower Taxes Encourage Saving for Retirement
24 July 2000 Texas Straight Talk 24 July 2000 verse 6 ... Cached
The bill contains other worthy provisions. "Pension portability" is enhanced, making it easier for employees who change jobs more often in today's economy to move their pension savings to another type of plan. This is accomplished by relaxing the "roll-over" rules, which dictate the time in which individuals may make a tax-free transfer of their pension when they start a new job. Americans over 50 also benefit from the "catch-up" provisions contained in the bill. Individuals 50 and over may contribute $5,000 to their IRAs immediately beginning in 2001, in addition to the amount that they would otherwise be allowed to contribute. Thus, by 2003 such an individual could contribute a total of $10,000 to an IRA. This larger deduction will allow older taxpayers to quickly expand their retirement savings, at a time when many people are concerned that they may not have saved enough to support themselves when they stop working.
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Lower Taxes Encourage Saving for Retirement
24 July 2000 Texas Straight Talk 24 July 2000 verse 8 ... Cached
Our tax laws generally discourage private saving. H.R. 1102, like my pension reform proposals, focuses on increasing saving by increasing the tax deductions and tax deferrals available to individuals. We can encourage retirement saving simply by allowing employees to put more of their paychecks into IRAs and pension funds, instead of sending taxes to the federal government. More than ever, Americans know that their own private retirement savings will be critical to their standard of living during their later years.
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Reforming Social Security to Protect Present and Future Senior Citizens
28 August 2000 Texas Straight Talk 28 August 2000 verse 4 ... Cached
Unfortunately, Washington politicians have not hesitated to spend Social Security funds for other purposes over the years. It is important to remember that the system originally was designed as a forced retirement savings program. Social Security monies were to be set aside in a separate trust fund used only for the payment of benefits. Revenue-hungry politicians, however, have needed to pay for more and more government programs over the past decades. The result is that the Social Security trust fund has been violated: Social Security "surpluses" have been spent on a myriad of federal programs. When the government spends Social Security funds elsewhere, it must rely on new payroll taxes to meet its current Social Security obligations. This means those payroll taxes are never set aside at all, but rather used to pay current benefits. The resulting conflict between generations is the inevitable result of the shameful and reckless policy of spending Social Security trust funds for purposes other than the payment of benefits.
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Congress Must Work for Seniors
18 September 2000 Texas Straight Talk 18 September 2000 verse 8 ... Cached
Finally, Congress must support seniors by eliminating the death tax. Although this tax accounts for only a tiny portion of federal revenues (about 1.5%), it has a devastating impact on many seniors and their families. When Congress ends the death tax, seniors no longer will worry about losing their farms, small businesses, and savings to the government.
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"Privatization" of Social Security Poses Risks
02 October 2000 Texas Straight Talk 02 October 2000 verse 5 ... Cached
Social Security, when instituted in the 1930's, represented a promise by the federal government to working Americans. In exchange for their participation in a retirement savings program (via payroll taxes), Americans would be guaranteed monthly payments when they retired. 65 years later, when the majority of America's families own stocks or mutual funds, it is easy for some to forget that many retired Americans continue to rely on a monthly Social Security check for all or most of their income. These Americans funded the system throughout their working lives, and they deserve to know that their retirement funds are secure- after all, it's their money. I believe Congress must work to insure that the federal government meets its promise to our seniors.
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Real Tax Reform Still Needed for Texas Families
16 October 2000 Texas Straight Talk 16 October 2000 verse 7 ... Cached
We also must eliminate the very harmful estate tax, and end the terrible practice of imposing a tax on families when a loved one dies. This tax penalizes thrift and savings, denying Americans the right to pass their property to their children. Despite the Washington rhetoric, the estate tax does not apply only to the rich. In fact, it forces the sale of many small family businesses when heirs cannot pay the estate tax bill. Worst of all, the estate tax is imposed on savings and capital that already have been taxed. The estate tax simply takes money away from families and puts it in the hands of the government. There is no moral or economic justification for estate taxes, and I co-sponsored legislation and voted twice to repeal the tax.
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Faith-Based Initiative Plan Poses Risks to Religious Organizations
05 February 2001 Texas Straight Talk 05 February 2001 verse 5 ... Cached
The proposal has risks, however. First, the federal welfare state simply may expand in size and scope. Congress seemingly is incapable of reducing spending, instead adding billions to the budget every year. This excessive spending may expand to fund private organizations in addition to current funding for federal agencies. I doubt seriously that savings created by the substitution of efficient private organizations for inefficient federal agencies will ever be reflected in the federal budget. The more likely scenario is that government spending will grow more than ever.
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Bush Tax Plan Only One Piece of the Tax Cut Puzzle
12 March 2001 Texas Straight Talk 12 March 2001 verse 6 ... Cached
Along with reducing tax rates, we must rid ourselves of the estate tax and end the terrible practice of imposing a tax on families when a loved one dies. This tax penalizes thrift and savings, denying Americans the right to pass their property to their children. It forces the sale of many small family businesses when heirs cannot pay the estate tax bill. The estate tax simply takes money away from families and puts it in the hands of the government. There is no moral or economic justification for estate taxes and they must be eliminated.
saving
Bush Tax Plan Only One Piece of the Tax Cut Puzzle
12 March 2001 Texas Straight Talk 12 March 2001 verse 7 ... Cached
The capital gains tax is another onerous tax that must be removed. Like the estate tax, the capital gains tax punishes individuals for saving and investing wisely for themselves and their families. The capital gains tax was once thought of as a tax on the rich. However, with more and more Americans investing in the stock market and relying on IRA's and 401K's to fund their retirements, there is growing opposition to this burdensome tax that actually discourages individuals from being self-sufficient.
saving
Economic Woes and the Federal Reserve
19 March 2001 Texas Straight Talk 19 March 2001 verse 7 ... Cached
The Federal Reserve did two things to artificially expand the economy over the last decade. First, it relentlessly lowered interest rates whenever growth slowed. Interest rates should be set by the free market, with the availability of capital (i.e. savings) determining the cost of borrowing money. In a healthy market economy, more saving equals lower interest rates. When savings rates are low, capital dries up and the cost of borrowing increases. When interest rates are set by the market, individuals and businesses make good spending decisions, because they pay an accurate interest rate for their debts. However, when the Fed set rates artificially low, the cost of borrowing becomes cheap. Individuals incur greater amounts of debt (evidenced by the record number of personal bankruptcies), while businesses overextend themselves and grow without real gains in productivity. The bubble bursts quickly once the credit dries up and the bills cannot be paid.
saving
Economic Woes and the Federal Reserve
19 March 2001 Texas Straight Talk 19 March 2001 verse 8 ... Cached
Second, the Fed also steadily increased the monetary supply throughout the 1990s by printing money. Recent Fed numbers show yearly increases of nearly 15% in the M2 money supply. Since 1996, the Fed has poured more than $100 billion in new dollars into the U.S. economy. These new dollars may make Americans feel richer, but the net result of monetary inflation has to be the devaluation of savings and purchasing power. Prices seemed stable over the last decade, but many types of inflation were not reported as such. An obvious example is stock prices, where companies making little or no profit often sold shares at ridiculous price/earnings ratios. Housing and energy prices also rose dramatically, and wholesale price inflation is an increasing threat. So while monetary inflation creates a sense of prosperity in the short run, long-term it simply makes your dollars worth less.
saving
"Patients Bill of Rights" or Federal Takeover of Medicine?
02 July 2001 Texas Straight Talk 02 July 2001 verse 7 ... Cached
We can hardly blame the market for our current healthcare woes. As with all goods and services, medical care is best delivered by the free market, with competition and patient responsibility keeping costs down. Government has neither the constitutional authority nor the wisdom to determine appropriate contract terms between individuals and health insurers. Congress needs to abolish the HMO mandate and allow favorable tax treatment for individuals paying for health care directly. Medical Savings Accounts (MSAs), which are tax-deductible and tax-exempt accounts used to pay medical expenses, should be made available to all Americans. When patients spend their own money for health care, they have a direct incentive to negotiate lower costs with their doctor. When government controls health care, all cost incentives are lost. No "patients bill of rights" will help us when the money runs out.
saving
Congressional Spending Threatens your Retirement
27 August 2001 Texas Straight Talk 27 August 2001 verse 5 ... Cached
Unfortunately, the American people have been misled about how Congress spends Social Security funds. When FDR implemented the system in the 1930s, it was touted as a sensible pension plan for the working class. Most believed that Congress would put their money away for them, let it grow, and pay them a monthly retirement benefit roughly comparable to a private pension plan. In other words, the system was supposed to be a retirement savings plan, not a tax. It certainly was not supposed to serve as a massive slush fund for Congress.
saving
The Fed Cannot Create Prosperity
03 September 2001 Texas Straight Talk 03 September 2001 verse 6 ... Cached
Still, while some in America have begun to challenge the wisdom of Alan Greenspan, few seem to question the concept of the Fed bank itself. In fact, the financial and political press never discuss the dangers of a fiat currency system managed by a centralized bank. Remember, every time the Fed cuts interest rates, it expands the amount of money in the economy. Economists have a simple word for this increase in the money supply: inflation. Inflation means your money has less buying power and your retirement savings are worth less. Yet we never hear the Fed criticized for its inflationary measures- on the contrary, Greenspan was widely praised throughout the 1990s as the all-knowing sage responsible for the good times.
saving
Gold, Dollars, and Federal Reserve Mischief
10 June 2002 Texas Straight Talk 10 June 2002 verse 7 ... Cached
What does all of this mean for you and your family? Since your dollars have no intrinsic value, they are subject to currency market fluctuations and ruinous government policies, especially Fed inflationary policies. Every time new dollars are printed and the money supply increases, your income and savings are worth less. Even as you save for retirement, the Fed is working against you. Inflation is nothing more than government counterfeiting by the Fed printing presses. Inflation acts as a hidden tax levied disproportionately on the poor and fixed-income retirees, who find the buying power of their limited dollars steadily diminished. The corporations, bankers, and wealthy Americans suffer far less from this inflation, because they can take advantage of the credit expansion that immediately precedes each new round of currency devaluation.
saving
A Stay of Execution for the Death Tax
17 June 2002 Texas Straight Talk 17 June 2002 verse 7 ... Cached
Ultimately, the argument against the death tax is a moral one. People should not be punished for working hard, saving, and building wealth. Our society should respect the most basic property right, namely the right to dispose of one’s property as one wishes. The American dream is based on making a better life for one’s children, despite the empty rhetoric of the class-warfare politicians in Washington. Building wealth is not sinister, it is admirable. Our tax rules should encourage the decidedly American virtue of saving for the future.
saving
Will We Bring bin Laden to Justice?
23 September 2002 Texas Straight Talk 23 September 2002 verse 7 ... Cached
Ultimately, letters of marque and reprisal could help us avoid a wider war by bringing terrorists to justice without the need for military action- saving American lives in the process. I recently wrote defense Secretary Rumsfeld, urging administration support for my legislation, the "Marque and Reprisal Act of 2001." Unless and until the administration puts the focus back on bin Laden and al-Qaida, the horrific crimes of September 11th will remain unpunished.
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 1 ... Cached
Support the President’s Tax-Free Savings Plan
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 2 ... Cached
Although the media has focused on the President’s proposal to end the harmful double taxation of dividends, he deserves far more credit for proposing tax-free savings accounts. These accounts would benefit millions of American families not only by reducing their taxes, but also by planting the seeds for them to enjoy financial stability and peace of mind decades later.
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 3 ... Cached
Sadly, however, the President’s own Republican leadership in the House of Representatives opposes the new savings accounts. Some members have told the White House that they will not fight to ensure passage of the proposal, preferring instead to tinker with the current retirement plan rules. This is truly unfortunate, because the President and our nation desperately need real anti-tax conservatives crafting legislation in the House.
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 4 ... Cached
The President’s plan is simple. Taxpayers can create two new types of saving plans, called Lifetime Savings Accounts and Retirement Savings Accounts. They can contribute up to 7,500 after tax, nondeductible dollars to each account every year. Unlike IRAs, 401(k)s, and other types of retirement plans, there are no complicated restrictions or tax rules. Taxpayers accumulate earnings on their contributions, and with the Lifetime account can make tax-free withdrawals anytime. With the Retirement account, taxpayers can make tax-free withdrawals after age 58. Both accounts would allow taxpayers to save significant sums for their retirement, which any rational financial planner would encourage.
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 5 ... Cached
Yet many in the spendthrift Congress think income taxes that consume one-third or more of most Americans’ paychecks are not enough. They believe in taxing income twice: first when it’s earned, and again when it’s saved. Yet why should interest, dividends, and capital gains be taxed a second time? Is the congressional appetite for spending really so voracious that we cannot even allow taxpayers to enjoy some tax-free savings, as proposed by the President?
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 6 ... Cached
Incredibly, members of both political parties seem to question the obvious benefit of tax-free accounts. With the Social Security system threatened by demographics and congressional spending raids, the need for private retirement saving has never been greater. America was in fact built with private savings. Only when individuals save money does a society develop the capital for investment and lending that is so critical to economic growth. Impoverished nations, by contrast, have little or no capital. This is often because of burdensome taxes and a lack of property rights. The desire to save money and build a better life is intrinsically human, and no society that punishes saving can remain prosperous for long.
saving
Support the President's Tax-Free Savings Plan
10 February 2003 Texas Straight Talk 10 February 2003 verse 7 ... Cached
The President’s proposed savings accounts could put millions of Americans on the road to self-sufficiency. The only alternative to private saving is to allow ourselves to become a nation of government dependents, relying on Social Security and federal programs in our retirement years. Congress, especially the House leadership, should work hard to avoid this terrible fate by quickly passing tax-free savings accounts into law.
saving
The Phony Tax Cut Debate
12 May 2003 Texas Straight Talk 12 May 2003 verse 5 ... Cached
Democrats argue that lowering taxes simply lowers revenues and increases deficits. They repeat the tired and false argument that only the vaguely defined “rich” benefit from tax cuts. They ignore that $500 in tax savings for a low-income family might mean more to them than $100,000 saved by a wealthy person. They only see a villainous “rich” person getting away with paying less than what they consider to be his “fair share.” They also don’t understand that a poor family may aspire to become wealthy or have wealthy children and grandchildren.
saving
HillaryCare, Republican Style
30 June 2003 Texas Straight Talk 30 June 2003 verse 9 ... Cached
A better approach would utilize Medicare Medical Savings Accounts (MSAs) to provide flexibility and choice. Medicare monies could be placed in tax-free savings accounts and used by individual seniors as they see fit to buy prescription drugs, visit the doctor, or buy special services like mammograms. MSAs allow consumers to make their own choices by eliminating the federal middleman. But even this compromise approach means giving individuals control over tax dollars, which bureaucrats hate to do.
saving
Federal Reserve Inflation Punishes Saving
21 July 2003 Texas Straight Talk 21 July 2003 verse 1 ... Cached
Federal Reserve Inflation Punishes Saving
saving
Federal Reserve Inflation Punishes Saving
21 July 2003 Texas Straight Talk 21 July 2003 verse 6 ... Cached
The Fed’s inflationary policies hurt older people the most. Older people generally rely on fixed incomes from pensions and Social Security, along with their savings. Inflation destroys the buying power of their fixed income and savings, while low interest rates reduce any income from savings. So while Fed policies encourage younger people to overborrow because interest rates are so low, they also punish thrifty older people who saved for retirement but find their dollars eroded by inflation.
saving
The Tyranny of Paper Money
08 September 2003 Texas Straight Talk 08 September 2003 verse 2 ... Cached
In an article entitled “Gold and Economic Freedom,” Federal Reserve Chairman Alan Greenspan wrote that “The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom…The speculative imbalances had become overwhelming and unmanageable by the Fed… In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.” The irony is that Mr. Greenspan’s words, written in 1966 to describe the era leading up to the Great Depression, could easily have been written in 2003 to describe the consequences of his own Fed policies during the 1990s.
saving
Lessons from the California Recall
13 October 2003 Texas Straight Talk 13 October 2003 verse 5 ... Cached
Federal politicians, however, can use government printing presses to sweep economic problems under the rug and hide the effects of deficit spending- at least for a time. Our fiat monetary system permits politicians to spend money now to win votes and fund popular programs, while delaying the harms until later. When the federal government monetizes debt by magically paying its bills with newly printed money, the economic effects are diffused throughout the economy. Over time, however, we all pay for the increased number of dollars in circulation. Prices go up, personal savings are eroded, and the dollar becomes weaker against other currencies.
saving
The Disappearing Dollar
08 December 2003 Texas Straight Talk 08 December 2003 verse 2 ... Cached
Those who follow financial markets may be familiar with the term “strong-dollar policy,” which is used by Bush administration officials and Federal Reserve Chairman Alan Greenspan himself. One might assume that such a policy entailed a course of action designed to strengthen the value of the U.S. dollar. However, if we judge Fed policy by Mr. Greenspan’s actions rather than his words, it appears we have a weak-dollar policy, a policy that erodes the value of your personal savings. The “strong-dollar policy” is nothing more than an empty political slogan.
saving
The Disappearing Dollar
08 December 2003 Texas Straight Talk 08 December 2003 verse 7 ... Cached
Unlike Warren Buffett, most Americans are stuck with their U.S. dollars. Average people, particularly those who depend on savings or fixed incomes to fund their retirement years, cannot abide the continued devaluation of our currency. A true strong-dollar policy would require constriction of the money supply and higher interest rates, both of which would cause some short-term pain for the American economy. In the long run, however, such a correction is the only alternative to the continued erosion of our dollars.
saving
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?
saving
The Federal Reserve Debt Engine
26 April 2004 Texas Straight Talk 26 April 2004 verse 6 ... Cached
During past recessions, many Americans shed debt either through bankruptcy or through austerity measures. In other words, they either changed their spending and borrowing habits or went broke. At some point their debts were in essence cleared from the books. In the recent recession of 2000-2002, however, many cash-strapped households managed to stay ahead of creditors by borrowing even more money. This is directly attributable to Fed easy-money policies, which greatly expanded the money supply and caused banks to lower creditworthiness standards. As a result, many Americans are overextended rather than bankrupt. Someday, however, they simply won’t be able to borrow another dime. All the Fed has done is make the bubble bigger and postpone the day of reckoning. This hardly makes for a strong economy, which must be based on savings and investment.
saving
Zero Down for the American Dream
21 June 2004 Texas Straight Talk 21 June 2004 verse 8 ... Cached
The American dream cannot be lived courtesy of taxpayer handouts. The experience of working hard, saving for a downpayment, and buying a home is the essence of the true American dream. Eventually the beneficiaries of government programs stop thinking of themselves as independent citizens, and start viewing themselves as wards of the state. It is impossible to maintain a free society when more and more people look to the state to provide what Americans used to provide for themselves.
saving
Saving the World with Your Money
19 July 2004 Texas Straight Talk 19 July 2004 verse 1 ... Cached
Saving the World with Your Money
saving
Social Security: House of Cards
08 November 2004 Texas Straight Talk 08 November 2004 verse 9 ... Cached
The Social Security crisis is a spending crisis. The program could be saved tomorrow if Congress simply would stop spending so much money, apply even 10% of the bloated federal budget to a real trust fund, and begin saving your contributions to earn simple interest. That this simple approach seems impossible speaks volumes about the inability of Congress to cut spending no matter what the circumstances.
saving
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.
saving
Want to Reform Social Security? Stop Spending.
24 January 2005 Texas Straight Talk 24 January 2005 verse 4 ... Cached
In the 1930s, Social Security was presented to the American people as a social insurance program, with individuals paying a monthly “premium” in exchange for retirement benefits later. It was supposed to be a forced savings program, based on the assumption that some people would be unable or unwilling to save for their older years. Seven decades later, however, the ratio of younger working people to older retirees has changed dramatically, exposing the Ponzi-like congressional raid on the system itself. What has not changed, however, is our willingness to accept the notion that the government should force us to save for our older years.
saving
The Maestro Changes his Tune
21 February 2005 Texas Straight Talk 21 February 2005 verse 3 ... Cached
Nearly 40 years ago, Federal Reserve chair Alan Greenspan wrote persuasively in favor of a gold monetary standard in an essay entitled Gold and Economic Freedom. In that essay he neatly summarized the fundamental problem with fiat currency in a few short sentences: “The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit… In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value… Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
saving
Deficits Make You Poorer
14 March 2005 Texas Straight Talk 14 March 2005 verse 10 ... Cached
The economic situation today is reminiscent of the 1970s. The economic malaise of that era resulted from the profligacy of the 1960s, when Congress wildly expanded the welfare state and fought an expensive war in southeast Asia. Large federal deficits led to stagflation-- a combination of high price inflation, high interest rates, high unemployment, and stagnant economic growth. I fear that today’s economic fundamentals are worse than the 1970s: federal deficits are higher, the supply of fiat dollars is much greater, and personal savings rates are much lower. If the federal government won’t stop spending, borrowing, printing, and taxing, we may find ourselves in far worse shape than 30 years ago.
saving
Congress and the Federal Reserve Erode Your Dollars
23 May 2005 Texas Straight Talk 23 May 2005 verse 4 ... Cached
This kind of bluster may serve political interests, but in reality we have nobody to blame but ourselves for the sharp decline in the US dollar. Congress and the Federal Reserve, not China, are the real culprits in the erosion of your personal savings and buying power. Congress relentlessly spends more than the Treasury collects in taxes each year, which means the US government must either borrow or print money to operate- both of which cause the value of the dollar to drop. When we borrow a billion dollars every day simply to run the government, and when the Federal Reserve increases the money supply by trillions of dollars in just 15 years, we hardly can expect our dollars to increase in value.
saving
Congress and the Federal Reserve Erode Your Dollars
23 May 2005 Texas Straight Talk 23 May 2005 verse 7 ... Cached
Unlike wealthy currency traders, most Americans are stuck with their U.S. dollars. Average people, particularly those who depend on savings or fixed incomes to fund their retirement years, cannot abide the continued devaluation of our currency. A true strong-dollar policy would not depend on the actions of China or any other nation. It would, however, require a constriction of the money supply and higher interest rates, both of which would cause some short-term pain for the American economy. In the long run, however, such a correction is the only alternative to the continued erosion of our dollars.
saving
Borrowing, Spending, Counterfeiting
22 August 2005 Texas Straight Talk 22 August 2005 verse 3 ... Cached
Few Americans truly understand how our Federal Reserve system enables Congress to spend far beyond its means, but the cycle of spending and printing money affects all of us. Simply put, the more money our Treasury prints, the less every dollar is worth. Our pure fiat money system, in place since the last vestiges of a gold standard were eliminated in the early 1970s, has reduced the value of your savings by 80%. Disregard the government’s Consumer Price Index, which substantially underreports price inflation. Monetary inflation is true inflation, and we only need to look at the cost of homes, cars, energy, and medical care to recognize that a dollar buys far less today than ever.
saving
Hey, Big Spender
29 August 2005 Texas Straight Talk 29 August 2005 verse 5 ... Cached
What is being called a "balanced budget" by 2010 is merely a hopeful projection of spending, matched with projected, hypothetical economic forecasts. To say the federal government can correctly predict exactly how the economy-- which is the sum total of the spending and savings habits of everyone in the nation-- will behave five years from now is ludicrous.
saving
Will the Estate Tax ever be Repealed?
24 October 2005 Texas Straight Talk 24 October 2005 verse 7 ... Cached
Ultimately, the argument against the death tax is a moral one. People should not be punished for working hard, saving, and building wealth. Our society should respect the most basic property right, namely the right to dispose of one’s property as one chooses. The American dream is based on making a better life for one’s children, despite the empty rhetoric of the class-warfare politicians in Washington. Building wealth is not sinister, it is admirable. Our tax rules should encourage the decidedly American virtue of saving for the future.
saving
Too Little, Too Late
14 November 2005 Texas Straight Talk 14 November 2005 verse 8 ... Cached
Projections of big savings beyond 2006 because of this bill are pure fiction. Congress has no authority to pass budgets or appropriate money beyond the next fiscal year. Future Congresses will not pay one whit of attention to this bill, and its hopeful predictions will be forgotten.
saving
What do Rising Gold Prices Mean?
05 December 2005 Texas Straight Talk 05 December 2005 verse 8 ... Cached
What does this mean for you and your family? Since your dollars have no intrinsic value, they are subject to currency market fluctuations and ruinous government policies, especially Fed inflationary policies. Every time new dollars are printed and the money supply increases, your income and savings are worth less. Even as you save for retirement, the Fed is working against you. Inflation is nothing more than government counterfeiting by the Fed printing presses.
saving
The Declining Dollar Erodes Personal Savings
15 May 2006 Texas Straight Talk 15 May 2006 verse 1 ... Cached
The Declining Dollar Erodes Personal Savings
saving
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.
saving
Why Won't Congress Abolish the Estate Tax?
12 June 2006 Texas Straight Talk 12 June 2006 verse 13 ... Cached
First, it discourages savings and investment.
saving
Federal Reserve Policy Destroys the Value of Your Savings
10 July 2006 Texas Straight Talk 10 July 2006 verse 1 ... Cached
Federal Reserve Policy Destroys the Value of Your Savings
saving
Monetary Inflation is the Problem
04 December 2006 Texas Straight Talk 04 December 2006 verse 6 ... Cached
Of course Mr. Bernanke inherited this tightrope act from his predecessor Alan Greenspan. The Federal Reserve did two things to artificially expand the economy during the Greenspan era. First, it relentlessly lowered interest rates whenever growth slowed. Interest rates should be set by the free market, with the availability of savings determining the cost of borrowing money. In a healthy market economy, more savings equals lower interest rates. When savings rates are low, capital dries up and the cost of borrowing increases.
saving
Monetary Inflation is the Problem
04 December 2006 Texas Straight Talk 04 December 2006 verse 8 ... Cached
Second, the Fed steadily increased the monetary supply throughout the 1990s by printing money. Recent Fed numbers show double-digit annual increases in the M2 money supply. These new dollars may make Americans feel richer, but the net result of monetary inflation has to be the devaluation of savings and purchasing power.
saving
The World's Reserve Currency
01 January 2007 Texas Straight Talk 01 January 2007 verse 8 ... Cached
At some point Americans must realize that Congress, and the Federal Reserve system that permits the creation of new money by fiat, are the real culprits in the erosion of your personal savings and buying power. Congress relentlessly spends more than the Treasury collects in taxes each year, which means the U.S. government must either borrow or print money to operate-- both of which cause the value of the dollar to drop. When we borrow a billion dollars every day simply to run the government, and when the Federal Reserve increases the money supply by trillions of dollars in just 15 years, we hardly can expect our dollars to increase in value.
saving
Monetary Policy is Critically Important
19 February 2007 Texas Straight Talk 19 February 2007 verse 3 ... Cached
Federal Reserve Chairman Ben Bernanke testifies twice every year before the congressional Financial Services committee, and I look forward to these opportunities to raise questions about monetary policy. I believe monetary policy is critically important yet overlooked in Washington. Money is the lifeblood of any economy, and control over a nation's currency means control over its economic well being. Fed bankers quite literally determine the value of our money, by controlling the supply of dollars and establishing interest rates. Their actions can make you richer or poorer overnight, in terms of the value of your savings and the buying power of your paycheck. So I urge all Americans to educate themselves about monetary policy, and better understand how a small group of unelected individuals at the Federal Reserve and Treasury department wield tremendous power over our lives.
saving
Monetary Policy is Critically Important
19 February 2007 Texas Straight Talk 19 February 2007 verse 13 ... Cached
How can a policy of steadily debasing our currency be defended morally, knowing what harm it causes to those who still believe in saving money and assuming responsibility for themselves in their retirement years? Is it any wonder we are a nation of debtors rather than savers?
saving
The Federal Reserve Monopoly over Money
09 April 2007 Texas Straight Talk 09 April 2007 verse 7 ... Cached
The Fed’s inflationary policies hurt older people the most. Older people generally rely on fixed incomes from pensions and Social Security, along with their savings. Inflation destroys the buying power of their fixed incomes, while low interest rates reduce any income from savings. So while Fed policies encourage younger people to overborrow because interest rates are so low, they also punish thrifty older people who saved for retirement.
saving
Keeping Promises to Seniors
07 October 2007 Texas Straight Talk 07 October 2007 verse 3 ... Cached
An analysis of the Social Security "Trust Fund" shows we are not doing a credible job of keeping these promises. Official reports show the trust fund having assets of $2.1 trillion. In reality, those dollars are just IOUs the government is writing to itself when it borrows from the fund to spend on unrelated programs. There are no real assets in the Social Security Trust Fund. This is similar to taking money out of your savings account, spending it, then replacing it with an IOU to yourself, and calling that IOU an asset.
saving
The Importance of Fiscal Responsibility
16 December 2007 Texas Straight Talk 16 December 2007 verse 4 ... Cached
Reducing our entitlement programs here at home is not against saving the children, as the rhetoric goes, it is about saving the country's economy. The fact is we have huge trade imbalances, massive deficits, and a $9 trillion national debt, which balloons to $60 trillion if unfunded future liabilities in social security and other promises we have made to Americans are included.
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.