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Their reaction for you from Washington DC on the president's remark congressman just NASDAQ is joining us the Democrat from Pennsylvania.
And congressman Ron Paul Republican from Texas both of us joining your congressman Paul football with us today.
I kind of I was -- with -- congressman suspect there in DC.
You know the president -- not just the budget but also this withdrawal from Iraq very ambitious plans can't really afford.
Security wise and financially.
To stay on this timeline that the president's on right now.
-- have to stay in this time oh I'm sorry.
Who did you -- on go ahead run.
A lot -- I just have no idea how they can they did because this is still going to be very expensive and we're flat out -- I mean.
Past twelve months we went into -- over one point five trillion dollars so any present revenue -- -- cost a lot of money and work.
Increasing our presence here in FT -- and increasing the bombing -- -- if they had.
So for anybody think this is backing off -- -- Davis the money I think they're deceiving themselves.
Congressman suspect response.
Yes we've already spent over 700 billions on Iraq.
As you know I'm a former navy admiral actually did combat operations in Afghanistan and Iraq.
Has to be done deliberately and safely and yes for men and women we can afford it.
But the real cost of this war is actually about two trillion to three trillion dollars because as you heard the president talk.
When you add in the cost of posttraumatic stress disorder of which 39%.
Of all returning troops have.
This is an enormous cost -- one of the reasons why the -- needs the end that said.
According to the head of the CIA one year ago.
Now has a safe haven in Pakistan a safe haven.
For -- they can plan against us.
So the reality of this redeployment is not savings it's our overall national security in order to ensure that we have the right force in Afghanistan.
That can -- al-Qaeda.
Bring the rest of the troops home.
And then have the military ready where they can't respond to any other contingency throughout this world today.
This defense security of ours has to be afforded but I believe -- his budget which is only.
1% above inflation he begins to tamper down those costs that aren't needed it's a very good road he's taking deliberate.
And safety -- America given -- -- understanding the money but it's necessary to have our troops come home safely commerce power.
I suspect again going back to your 31 years as a navy.
First -- -- worked with three star admiral.
You have a concept about what needs to be done militarily over there and it ties in with the budget.
What we want -- I'm sure you've read the reports about -- people think that the budget numbers are.
Using estimates that are too -- it sounds like you're saying that his comments regarding the military needs in Pakistan and Afghanistan.
May be able to Rosie -- did it -- essentially it will cost more take more time.
I think that's an excellent point you know having been in the Pentagon and they're in charge of -- -- seventy billion dollar.
Worker program budget for the navy -- this unfortunate tyranny of optimism that comes at times from throughout the whole executive branch.
But it -- what we really need here and wrong.
To this point is we need a true acquisition reform.
We have them a system now where in the last two and a half years.
Thirty major defense programs have come to congress.
And what's called a Nunn McCurdy breach -- -- -- gone 20% over cost and then they just give us the new cost what we need to have.
Is not a monetary system but an enforcement system so they give us better confidence up front on the funding for buying a new tank.
And hold them to look how that's the type of market mentality we have to have ever in our defense -- And that's a minute we're gonna have to follow in the next few months congressman -- wanna go over that once again -- to Ron Paul because one even very critical of the Fed.
What the spotting up this morning of course the government taking a -- a big are a chunk of Citigroup excuse me.
So we got a lot of things and I just not just what's happening overseas but also what's happening her home with our our monetary system can you comment congressman.
Well what they are connected because of the expense that we have for overseas we can't maintain is that I wanna get out completely I don't think it's not benefit.
To prop up another puppet government there I wanna get out to really save money take off the pressure on the -- the monetize debt.
Now it is a serious serious crisis and has to do with the monetary system and we have to admit the financial system has collapsed the system set up in 1971.
Which was the post Bretton Woods system.
Where the dollar was considered to be the reserve.
Currency of the world -- we've gotten away with.
Economic murder on this because we could print the money and spending their buy tokens but now that -- -- -- as they have debt and to run up these deficits I mean Republican but how bad they -- about.
-- think it was happening this administration with all the military expenditures that will go up expanding the war in Afghanistan more killing in Pakistan's.
I mean this is.
And that's why the markets are so when they didn't want everything that we doesn't Washington because they don't look at the big picture which is really.
The monetary system and they have to devise a sound currency but a sound currency -- the government that offends conservatives and liberals.
Conservatives like big military -- little like -- you know big welfare.
Is it like it truly leave the revolutionary.
And the revolutionary idea can be found in the constitution all we have didn't take -- at the office seriously look at Klein answered all our.
Princess like you got about 22 -- last word here.
Yet if I could go much like Warren Warren Afghans were in an economic where the Federal Reserve is committed three point eight trillion dollars -- it does not turn its preferred shares into common shares so that there is an interest that Citibank is doesn't have to pay dad and they have more equity and there.
But you know that they can go by so that.
Lenders don't start taking their money out this is an emergency this is a war this is the right thing to do we get through this war and then -- -- right let's step back at the right regulatory oversight.
Let's make sure there's a referee on the football field with the Federal Reserve is the one institution.
They -- -- -- Merck has kept the lights burning on in America.
This is an absolutely necessary evil to get through this recession all right congressman suspect thank you very much congressman Paul thank you very much more -- today.
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