With a Printing Press, the Debt Ceiling's No Problem at All

Yesterday’s Tom Sullivan Show on Fox Business featured an interview with Dr. Ron Paul (R-TX), on how the national debt ceiling is going to be raised despite the fact that promises to raise the limit just this once — because Congress will of course cut spending in the future — are just not true. Washington will continue to print money to cover its commitments until there is some “catastrophic event.” The clip is below, but first, here are few choice comments:

  • “I won’t vote to raise the national debt … even if they make some token promises… I don’t vote for any of the spending, so hardly should I be responsible to raise the debt limit.”
  • “It will be raised… will be some, some token concession that says, well, we’re gonna raise the national debt but we’re gonna hold the line from now on… I would remain skeptical… I don’t think anything will get cut.”
  • “As long as they can resort to going back and printing the money, they will. Now states… have a bigger burden, because they don’t have a printing press, so they have a lot more pressure to cut back.”

This video interview came to our attention via The Daily Bail in a post on Ron Paul versus the Washington spending machine.