U.S. Rep. Ron Paul | Debt Limit |
Debt Limit
No More Taxpayer Funds for the Failed Drug War in Colombia
May 23, 2002 2002 Ron Paul 49:6
This dilutes our national defense, it dilutes our forces, exposes our troops, takes away our weapons, increases the expenditures. If we ignore this issue I guess we can go back to demagoging the national debt limit.
Debt Limit
Oppose the "Supplemental" Spending Bill
May 24, 2002 2002 Ron Paul 50:10
Finally, Mr. Speaker, I must object to this bill on the grounds that it enables further increases in government spending by providing a method to increases the debt ceiling. It is bad enough that Congress is increasing the debt limit, but this rule provides a procedure whereby the debt limit will be raised in conference, away from public scrutiny. It makes a mockery of open government to impose more government debt on hardworking Americans and future generations by subterfuge.
Debt Limit
Neo – CONNED !
July 10, 2003 2003 Ron Paul 73:14
Since the national debt is increasing at a rate greater than a half-trillion dollars per year, the debt limit was recently increased by an astounding $984 billion dollars. Total U.S. government obligations are $43 trillion, while the total net worth of U.S. households is about $40.6 trillion. The country is broke, but no one in Washington seems to notice or care. The philosophic and political commitment for both guns and butter—and especially the expanding American empire—must be challenged. This is crucial for our survival.
Debt Limit
Raising the Debt Limit: A Disgrace
November 18, 2004 2004 Ron Paul 79:6
Federal law limits the total amount of debt the Treasury can carry. Despite a historic increase in the debt limit in 2002 and another increase in 2003, the current limit of $7.38 trillion was reached last month. So Congress must once again vote to raise the limit. Hard as it may be for the American people to believe, many experts expect government spending will exceed this new limit next year!
Debt Limit
Raising the Debt Limit: A Disgrace
November 18, 2004 2004 Ron Paul 79:8
The whole point of the debt ceiling law was to limit borrowing by forcing Congress into an open and presumably somewhat shameful vote when it wants to borrow more than a preset amount of money. Yet, since there have been no political consequences for members who vote to raise the debt limit and support the outrageous spending bills in the first place, the debt limit has become merely another technicality on the road to bankruptcy.
Debt Limit
Where To From Here?
November 20, 2004 2004 Ron Paul 81:35
The debt, both domestic and foreign, is difficult to comprehend. Our national debt is $7.4 trillion, and this limit will be raised in the lame duck session. This plus our U.S. foreign debt breaks all records, and is a threat to sustained economic growth. The amazing thing is that deficits and increases in the debt limit no longer have a stigma attached to them. Some demagoguery takes place, but the limit is easily raised. With stronger partisan control over Congress, the president will have even less difficulty in raising the limit as necessary. It is now acceptable policy to spend excessively without worrying about debt limits. It may be a sign of the times, but the laws of economics cannot be repealed and eventually a price will be paid for this extravagance.
Debt Limit
Debt Addiction
1 March 2006 2006 Ron Paul 6:6
Largesse at home and militarism abroad requires excessive spending and taxation, pushing deficits to a point where the whole system collapses. The biggest recent collapse was the fall of the Soviet Empire just 15 years ago. My contention is that we are not immune from a similar crisis. Today, our national debt is $8.257 trillion. Interestingly, the legal debt limit is $8.184 trillion.
Debt Limit
Debt Addiction
1 March 2006 2006 Ron Paul 6:7
This means we currently are $73 billion over the legal debt limit. Creative financing Washington-style allows this to happen, but soon Congress will be forced to increase the national debt limit by hundreds of billions of dollars. Congress will raise the limit, quietly if necessary; and the deficit spiral will continue for a while longer.
Debt Limit
Amendment No. 9 Offered By Mr. Paul — Part 2
16 March 2006 2006 Ron Paul 18:2
Mr. PAUL. Mr. Chairman, my amendment is offered in an attempt to save some money. If my amendment were to pass, we would cut $500 million from this appropriation. Everybody knows that this is a huge appropriations bill and that it is a supplemental. It does not fall under the category of the budget rules. It is $92 billion. It involves the finances of our military approach to our foreign policy around the world, which is two-thirds of this funding. The other third, 19 or $20 billion is for domestic use. It is a huge sum of money. And we are doing this at a time when we are running a deficit, our national debt at least is going up over $600 billion a year, and we are concerned this week about raising the national debt limit to over $9 trillion.
Debt Limit
Statement on HR 3221
July 24, 2008 2008 Ron Paul 48:5
Finally, HR 3221 increases the federal debt limit by $800 billion. We are told that CBO has scored this bill at a cost of $25 billion, but this debt limit increase belies that. The Federal Reserve has already propped up the housing and financial markets to the tune of over $300 billion, and this raise of the debt limit indicates that the cost of this newest bailout will likely be even more costly. I am dismayed that my colleagues have not learned the lessons of the Patriot Act and Sarbanes-Oxley. Massive bills passed in knee-jerk reaction to crisis events will always be poorly written, burdensome and expensive to taxpayers, and destructive of liberty.
Debt Limit
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
25 July 2008 2008 Ron Paul 52:5
Finally, H.R. 3221 increases the Federal debt limit by $800 billion. We are told that CBO has scored this bill at a cost of $25 billion, but this debt limit increase belies that. The Federal Reserve has already propped up the housing and financial markets to the tune of over $300 billion, and this raise of the debt limit indicates that the cost of this newest bailout will likely be even more costly. I am dismayed that my colleagues have not learned the lessons of the PATRIOT Act and Sarbanes- Oxley. Massive bills passed in knee- jerk reaction to crisis events will always be poorly written, burdensome and expensive to taxpayers, and destructive of liberty.
Debt Limit
Congress Spends, Future Generations Pay the Bills
03 June 2002 Texas Straight Talk 03 June 2002 verse 4 ... Cached
The problem is simple: Congress spends way too much. 2002 federal revenues are down compared to previous years, but Congress needs money to fund the post-September 11th spending spree. Faced with this pesky economic reality, Congress must do what any other organization does when spending exceeds income: borrow money. However, federal law sets a limit on the total amount of debt the Treasury can carry, and the limit- a whopping $5.95 trillion- has been reached. Since Congress apparently cannot control spending, the debt limit must be raised, this time by $700 billion. Yet no member, especially those who promote themselves as fiscal conservatives, wants to be on record as voting to increase the national debt.
Debt Limit
Congress Spends, Future Generations Pay the Bills
03 June 2002 Texas Straight Talk 03 June 2002 verse 5 ... Cached
The solution was to hide the debt limit increase as a single provision in a huge appropriations bill. Members can defend their vote for the supplemental based on their support for other measures in the bill, many of which were falsely cloaked in patriotic rhetoric More importantly, members avoided a naked up-or-down vote on the debt limit alone.
Debt Limit
The 2003 Spending Orgy
03 March 2003 Texas Straight Talk 03 March 2003 verse 7 ... Cached
The looming hangover is reflected in the federal debt, which is officially about 5.6 trillion dollars. The real figure is much higher, because the official figure does not include outstanding future liabilities like Social Security and Medicare that millions of Baby Boomers will soon demand. The “debt limit,” created by federal law in a hopeful attempt to limit congressional spending, is routinely raised by Congress without political fallout. All Americans must become aware of how truly unrestrained federal spending has become, and realize that voters represent the last line of defense against the complete bankruptcy of the U.S. government.
Debt Limit
Congress Exceeds its Credit Limit
14 April 2003 Texas Straight Talk 14 April 2003 verse 5 ... Cached
Federal law limits the total amount of debt the Treasury can carry, and the limit- currently $6.4 trillion- has been reached. So Congress must vote to raise the limit, even though just a few short months ago it was raised from $5.9 trillion. The whole point of the debt ceiling law was to limit borrowing, to force Congress into an open and presumably somewhat shameful vote when it wants to borrow more than a preset amount of money. Yet since there have been no political consequences for members who vote to raise the debt limit and support the outrageous spending bills in the first place, the debt limit has become merely another technicality on the road to bankruptcy. Only public outrage, demonstrated by actually voting the big spenders out of office, can change the spending habits of the U.S. Congress.
Debt Limit
Congress Exceeds its Credit Limit
14 April 2003 Texas Straight Talk 14 April 2003 verse 6 ... Cached
Yet Congress is at it again, raising the debt limit in a new budget that is a wasteful as any I’ve seen during my tenure in Washington- and that’s a strong statement. In fact, the 2004 budget passed by the House raises the debt limit by nearly one trillion dollars, the single largest increase by far. The budget also contains a procedural rule that allows the debt limit to increase annually over the next ten years, almost doubling from the current $6.4 trillion to an incredible $12 trillion.
Debt Limit
The Federal Debt Spiral
02 June 2003 Texas Straight Talk 02 June 2003 verse 4 ... Cached
For perspective, this latest debt limit increase of nearly one trillion dollars is as large as the entire federal budget in 1985. The embarrassing increase was necessary because federal law limits the amount of debt the Treasury can carry, and the current $6.4 trillion limit had been reached. The federal government across the board has been spending money feverishly, at levels approximately 22% higher than just three years ago. This spending spree caused Congress to raise the debt limit from $5.9 trillion only six months ago, but the new limit was quickly reached.
Debt Limit
The Federal Debt Spiral
02 June 2003 Texas Straight Talk 02 June 2003 verse 5 ... Cached
Debt simply has lost any remnant of stigma in Washington. The point of the debt limit law was to shine a public light on government borrowing and make lawmakers more accountable for deficit spending. The original intent behind the law- to limit borrowing- has been abandoned. Today Congress can raise the debt limit at any time with virtually no media attention. More importantly, there is no political fallout. This puts Congress in the position of a spendthrift debtor who can authorize spending limit increases on its own credit card!
Debt Limit
The Federal Debt Spiral
02 June 2003 Texas Straight Talk 02 June 2003 verse 6 ... Cached
The House managed to avoid a direct vote on raising the debt limit, instead burying a series of automatic debt increases in the terrible 2004 budget passed in April. The Senate, by contrast, at least held an up-or-down vote on the issue. Yet only one Republican Senator voted against saddling the American people with nearly another trillion dollars of debt. Both parties in Congress clearly now view the debt ceiling law as purely symbolic at best. Privately, most members probably view it as an unnecessary obstacle that should be eliminated, an opinion shared by Federal Reserve Chairman Greenspan.
Debt Limit
The Federal Debt Spiral
02 June 2003 Texas Straight Talk 02 June 2003 verse 7 ... Cached
After adjusting for the new debt limit, our national debt jumped $107 billion last week. It has risen $538 billion in the last year alone.
Debt Limit
The Federal Debt Spiral
02 June 2003 Texas Straight Talk 02 June 2003 verse 8 ... Cached
The spending problem is deeply rooted in Washington bureaucratic culture, and no administration is immune. The President can set the tone for fiscal restraint or fiscal indulgence, but ultimately Congress controls the purse strings though the appropriations process. One thing the President can do, however, is refuse to sign spending bills or debt limit increases. When neither Congress nor the administration is capable of fiscal self-control, the taxpayer is always the loser. How do you feel knowing the federal government just wrote itself a trillion dollar loan using your labor as collateral?
Debt Limit
Government Debt- The Greatest Threat to National Security
25 October 2004 Texas Straight Talk 25 October 2004 verse 5 ... Cached
Government debt carries absolutely no stigma for politicians in Washington. The original idea behind the debt limit law was to shine a light on government spending, by forcing lawmakers to vote publicly for debt increases. Over time, however, the increases have become so commonplace that the media scarcely reports them-- and there are no political consequences for those who vote for more red ink. It’s far more risky for politicians to vote against special interest spending
Debt Limit
Raising the Debt Limit: A Disgrace
22 November 2004 Texas Straight Talk 22 November 2004 verse 1 ... Cached
Raising the Debt Limit- A Disgrace
Debt Limit
Raising the Debt Limit: A Disgrace
22 November 2004 Texas Straight Talk 22 November 2004 verse 3 ... Cached
Last week Congress increased the mortgage on your future yet again, by voting to allow the federal government to borrow another $800 billion to pay its bills. This latest increase in the federal debt limit represents merely another chapter in the unprecedented explosion in federal spending that has occurred in recent years. At its present rate of spending, the federal government soon will amass $1 trillion of new debt in just one year. By contrast, the entire federal debt was only $1 trillion when President Reagan took office in 1981.
Debt Limit
Raising the Debt Limit: A Disgrace
22 November 2004 Texas Straight Talk 22 November 2004 verse 4 ... Cached
It’s particularly galling when members of Congress pledge never to raise taxes, but then vote to increase the debt limit. By doing so, they are voting to raise taxes on future generations pure and simple. Debt does matter, despite the flawed arguments of the supply-siders. It will have to be repaid by future generations who did not incur it. To hear supposed conservatives argue the case for more federal debt is disgraceful, quite frankly. Deficit spending is the antithesis of conservatism.
Debt Limit
Raising the Debt Limit: A Disgrace
22 November 2004 Texas Straight Talk 22 November 2004 verse 8 ... Cached
The whole point of the debt ceiling law was to limit borrowing by forcing Congress into an open and presumably somewhat shameful vote when it wants to borrow more than a preset amount of money. Yet since there have been no political consequences for members who vote to raise the debt limit and support the outrageous spending bills in the first place, the debt limit has become merely another technicality on the road to bankruptcy. The only way to control federal spending is to take away the government’s credit card and refuse to allow Congress to borrow one red dime.
Debt Limit
How Government Debt Grows
13 March 2006 Texas Straight Talk 13 March 2006 verse 3 ... Cached
Today our national debt stands at $8.2 trillion, which represents about $26,000 for every man, woman, and child in America. Interestingly, the legal debt limit is only $8.18 trillion, a figure that was reached a few weeks ago. This means the Treasury department must ask Congress to raise the debt limit very soon, most likely as part of a larger bill so it can be hidden from the American people.
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.