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Rep. Ron Paul, (R-Texas), on the current state of the economy and whether the administration can make corrections in the next four years.
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-- ready for the next four years 'cause I've got my crystal ball I could see what's gonna happen.
First over the next few months pundits will scream about the fiscal -- That's a series of tax increases and budget cuts that'll automatically go into effect January 1 analysts congress works how to deal.
Will day.
Yes I conceded a year politicians will meet and then they'll hold press conferences and -- and predict disaster.
And then they'll reach a deal right before the end.
It won't solve -- just postpone the reckoning but they'll congratulate themselves and the media will move on to something else.
America however we'll continue to go broke.
And my too cynical.
Now it's probably worse -- that says my next guest congressman Ron Paul.
Congressman predict the future.
Long -- in the future looks pretty good lot of people are waking up.
-- -- that but we have today isn't workable -- in the short run the people in charge aren't going to admit that not gonna that there were bankrupt.
-- -- they won't admit that we're on the verge of a major major change in our society.
So they will keep.
Putting inside and not.
But then well eventually trying to destroy the dollar had a dollar prices were will be forced to remain open it change our system of financing.
But it could be pretty big I mean now I think it through debt won't be anything quite as -- -- like when the Soviet system collapsed but a lot of change you have to come.
Because I think it's true bankruptcy would mean that we no longer can maintain an empire -- -- on -- we no longer can maintain.
Promises of entitlements of 222.
Trillion dollars so we have to face up to reality.
But I think I agree -- you don't expect -- all the solutions to come on January 1.
They're going to have some doctored up proposal and people.
We'll announces in the stock market may go -- Fed ultimately.
We will have to face up to you know be excessive spending in -- and excessive size of government not not for a little while yet.
-- all that sequestration law on January 1 was designed to acknowledge the politicians unwillingness to make tough -- here's how.
Jim Angle of fox reported.
The fiscal -- was crafted to be so -- tasteful officials would do any and everything to avoid it.
So you don't think fell.
Say -- we don't wanna cut this money from the military domestic spending were finally got on cut entitlements make some real decision.
They assume that they made is so -- on that they wouldn't accept it.
But I don't think they didn't think they're not even talking about cuts they're talking about.
Cutting you know a trillion dollars over ten years a hundred billion dollars and they're not turn in my real cuts are talking about cuts.
In baseline budgeting let me stop you explain baseline budgeting and I hate it when you politicians talk that way because no.
Person whose normal understands that what you mean bit.
If I'm gonna cut it means I spend less next year when you guys do what it means.
Fifteen -- that we have already written into the next ten year budget.
Automatic increases so if you're proposing -- little -- -- 1000000010 billion dollar increase for next year any -- -- down deny they say they're cutting 10%.
They're not counting anything they're only increase again nine billion dollars it's 1010 billion dollar so it's all that it's it's done on purpose -- people get confused.
And it cuts don't mean anything cuts mean only nibbling away at the proposed -- -- In this way that's the reason nothing ever happens.
And they got away with this for a long time because both sides whether liberals or conservatives had different reason they wanted to spend money.
And there was a lot of wealth in the country they usually can get get along with that okay will raise that milk subsidies and to back sub region will vote for used one vs the other.
But now the treasuries -- the country's bankrupt they won't admit it and that's why there's such -- so much anger and frustration.
Because it's hard to divvy up -- When there's none left to divvy up.
Thank you congressman Paul.
The focus in the media this.
