Economics 101 by Dr. Ron Paul + My Loss of Faith in Our Civil Servants

Posted: February 14, 2009 by Rick Hogaboam in Politics

I was delighted to see MSNBC bring Ron Paul on and genuinely show an interest in what he had to say. This video is a few weeks old, but ever relevant.

By the way, I was outraged last night at the passing of the “Stimulus Bill”. The Democrats lengthened it to over 1000 pages and many had no time to even read it. It got stuffed with goodies for all the Special Interest Groups. This is the height of responsibility. College students must study for a final, which only makes up part of their grade for a single class, while the US Congress is ignorant of things with which they bind upon our society.

Osama Bin Laden is smiling with delight at our desperate policies that are indebting us to foreign countries like China. We all know what happens when you are in debt to someone, you become their slave. We will borrow and print money that isn’t there, ruin the US currency, hurt the poor and middle class in our country, and destroy our national security in the process. 

The best illustration I can think of is that the Government is using a credit card in their deficit spending. We will max this card out and then have to drastically cut entitlement programs, which will be like taking drugs away from a dependent society, or tax the wealthy to bail out the Government’s responsibility. OR, the Gov’t can sell precious assets, like our land, etc, thus eliminating all assets. 

I think we have greater cause to revolt than the folks throwing tea in the Boston Harbor. Both parties are responsible. Our greed is destroying our country. I am all for helping the disadvantaged, but not for empowering irresponsibility. I pray that this bill will actually work, even with my misgivings over it. We still need to deal with the root of this problem, which is GREED. We need to show fiscal responsibility and moderation in our own finances and we must demand such from the Gov’t as well. Our country will soon head to debtor prison if things don’t change.

  1. Scott Kistler says:

    Thanks for posting this, Rick. I worry about this too. It seems like lots of smart people are saying that we need this bailout and stimulus spending, but lots of smart people are saying that we don’t. At least Ron Paul is proposing serious spending cuts, and he makes the same link that Andrew Bacevich makes to “American empire,” which is something very rarely mentioned publicly except on the left and right fringes of our public discourse. Unlike many in the public debate now, Paul talks about the potential for the collapse of the dollar. This doesn’t seem to even figure in to most people’s calculations, whether it’s Republicans or Democrats justifying their spending. I wish that I were not so economically illiterate.

    I wonder if Reagan and GW Bush (and now Obama) essentially put American greatness on the national credit card. As you said, at some point this may all come due. When Republicans have successfully demonized higher taxes and Democrats have successfully demonized spending cuts, I don’t know where we go. We don’t seem to be able to make the hard choices as individuals or as a society.

    • Scott, I hope it works. Tough decisions need to be made. I do think that the Golden Era of economic growth from 1980-2007, with a few minor recessions, was largely built on debt. The bubble has burst.

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