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Rep. Ron Paul, (R-Texas), discusses his hearing on auditing the Federal Reserve and the assassination of Anwar al-Awlaki.
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Economy but the reality is do any of you believe most of the Republican candidates will do what it takes to reverse this trend there is someone among them.
Who sees that there could be a recovery on the horizon.
He's a man whose diagnosis for the economy involves a heavy dose of fiscal conservatism.
And a prescription of limited government.
That other Republican candidates are afraid to offer.
He held a congressional hearing today and I hope fed chair Ben Bernanke was listening.
For those of us who believe in less government is better than more government.
Whether it's warfare welfare.
That we see that the Federal Reserve has a as a strong influence in allowing our government.
-- grows and allowing our government to -- Texas Republican congressman Ron Paul is here welcome back to freedom much congressman Paul.
-- you think Ben Bernanke was listening to you or do you think He just wants the government as He said to keep spending money that -- just keep printing for a.
-- and I'm sure He wasn't listening He was ever on another committee testifying that we need more printing press money and lower interest rates.
And how much lower there negative rates right now.
So now they're not offering a prescription I mean we have too much spending and too much debt so they're trying to solve the problem with more spending and more debt.
So there's not a chance in the world that we can get out of recession.
This way because in the take a long time to get rid of the death and how investment at the rate we're going.
What what what will it take for members of congress.
To understand that the policies of the president.
And that congressional leaders in both parties -- gone along with him and of mr.
Bernanke.
Is not going to solve the problem up every day Americans it's only gonna make it worse you know it.
You've been discussing this for years what would take for the rest of the people in the government to realize you cant do the same thing over and over and over again and expect a different result.
Well I'm not too optimistic that they're gonna catch on because when you think about how long it took his -- commodity depression of the nineteen there -- of a long time.
You think about people learning our lesson in Japan they've been going up on almost twenty years.
We're we're now I think we've been in a slump since the year 2000 not just in the last four years.
The people here don't wanna change because there having condition -- keynesian economics.
Where I'm encouraged is that people outside of this place are getting the message.
And the answers are well known it's just that how do you translate these new message that we have.
A free markets and the constitution.
-- get the people that are managing the affairs now out of office and RI I I.
Believe we're going in the right direction but we still have a long way to go go because.
You know the deficit is continuing to -- on the and the government is expanding and they're still offering them money.
So they haven't changed their policy.
I keep plugging away and that we are reaching a lot more people.
Even previously.
Time but especially in this campaign we're reaching a lot of people now.
That -- there are answers -- -- not that complex is just that.
Boards a stronger conviction of and believe in freedom and understanding how the market work.
What what are the -- what would a president Paul do.
If the congress.
-- to be of like mind to address our economic recession in the first couple of months of your presidency.
Well you immediately could bring our troops have had to spend all their money here at home that would be and give -- -- -- How we can change our foreign policy and indicate we're gonna we're gonna yet our our budget under control.
We could remove taxation on all the money that is held overseas -- our corporations and non double tax now.
We could remove the interest paid by the Federal Reserve to the banks the banks -- you know investor money because it's too risky.
That we at the Federal Reserve gives them their money essentially for free.
It and they invested back in the treasury bill so they help monetize the debt to along with the direct monetization.
Of the federal was there for those are few things that sending a single leader most important.
We're gonna quit this spending right now I'm working on a plan where even in one year I want to have a trillion dollars.
Because this year's budget is the only budget accounts this -- -- -- that we're gonna cut.
Five years ten years out on -- proposed increases the American people see through this enhanced -- there -- -- confidence has not been restored.
So they have to have somebody who stand up and say this is what we have to do and we should suffer for.
Because -- -- return freedom to the individual right to keep what they earn and give them incentive.
Why should that be a sacrifice they should feel better by get the government off their backs and out of the wallet.
We we have a a tax system.
That is so complex it's hard to find a human being that has read every regulation from the first to last much less who understands all of them.
What would you do to Alter or hopefully to simplify.
The method by which the federal government taxes people in this country.
Well in general I support any tax reform that would reduce taxes and that could reduce the power of the IRS.
But I do not like the idea that we have to replace taxes I'd I want to get rid the income tax model replace it with anything.
I worry a bit about those who want to cut down on income tax they give us a sales tax I think it would be very bad policy.
What would the federal government do and -- a fund what it does I know the government would be seriously shrunk if if you had your way.
But let's say -- in -- foreign wars and and and the federal government didn't involve itself with education or housing and urban development or or commerce and those matters were left to the free market or to the states.
How would you fund the federal government.
Well you would defund the federal government you know if you look it just get rid of the income tax now I think the revenues would still be -- were less than ten years ago or eight years ago so you still have the same revenue.
We lived up until 1913 without any -- -- out an income tax.
So it's the appetite for big government is the problem the taxes and the Federal Reserve inflating that is the symptom.
And the budget problem is a symptom of the appetite for big government.
-- we have to convince enough people investors where we're making progress the majority large majority now American people like.
Enough is enough and Afghanistan has come home and we -- save a lot of money.
The other side of the -- though is the entitlement system.
And I'm sure you understand this because people -- -- believe that an entitlement is a right.
I asked to be reversed you have a right your life in your liberty in your property.
If you don't have a right to somebody else's life and that's what entitlements are about we have to change that definition or we can't win.
-- dangerous is it congressman Paul for a president to act as judge jury and executioner.
And order the killing of an American because in the president's view he's dangerous and has to go.
And is not in the United States and and might this dastardly events lead to killing Americans were in the United States.
Of course that's the big danger high.
I've been mulling this over I think it might be are crossing of the rubicon I believe we have just transition if we don't quickly reverse this transition from.
What's left of our republic.
-- -- -- -- -- -- -- -- -- came.
You know to the Roman empire so.
We we are losing our Republican.
Republic is they're gone when the government takes over the monopoly and control money -- -- your own money to create their own money.
They do -- and expand themselves to form overseas and then when they attacked the civil liberties and people don't have justice in -- -- whether.
It's the assassination of the American people are searching houses and taking goods and things from people without search warrants in treating us like criminals at the airport.
I would say we're awfully close but once again I have to look on the positive side.
And going around the country I still do need a lot of people who are getting pretty upset with this -- would likely see the restoration of a republic.
Are are there members of congress from both.
Parties.
Who agree with you I know congressman Kucinich doesn't often agree with you agrees with you on the these issues the president can't start a -- zone the president can't kill an American.
Everybody's entitled to due process is the congress a potted plant where they gonna do something about this.
-- into off in the leadership.
Is.
Only in the business of preserving power.
And that's what they argue about it's a shame that all this arguing and bickering going on between the parties.
That there was a difference but you know regardless of which party have they still endorse they don't change the definition from rights and entitlements they don't change of foreign policy in it until after the -- But we have dozen -- -- there are several young members.
Of congress and you've had several on your program.
That are willing to look at this and so we're making inroads.
But I think -- problems get worse is gonna be a greater need I think that's one reason.
That we've gotten.
And attention these last few years is out of necessity wars are going badly the economy is in shambles -- better pay attention to some alternatives to what we're getting time for -- game changer congressman Paul it's always a pleasure thanks for joining us.
Thank you -- the congressman Ron Paul --
