Monday, May 23, 2011

Ron Paul: The Case for Not Raising the Debt Ceiling

In a recent post at The Hill's Congress Blog, Ron Paul explained how the government can survive without raising the debt ceiling:

...the federal government simply needs to establish priorities and stop spending money on anything other than those priorities. Interest payments on our federal bond debt likely will amount to about $500 billion for fiscal year 2011, an average of $41 billion per month. Federal tax revenues vary by month, but should total around $2 trillion to $2.5 trillion for FY 2011 - an average of perhaps $180 billion per month. So clearly the federal government has sufficient tax revenue to make interest payments to our creditors. For now, those interest payments represent about 12% of the total federal budget.

What nobody wants to admit is this: even if the federal government has only $1.5 trillion remaining to spend in 2011 after interest payments, this is plenty to fund the constitutional functions of government. After all, the entire federal budget in 1990 was about $1 trillion. Does anyone seriously believe the federal government was too small or too frugal just 20 years ago? Hardly. So why have we allowed the federal budget to quadruple during those 20 years?
Congressman Paul gets it.

Just remember, any Congressman, who talks about cutting a "deal" to agree to an increase in the debt ceiling, is talking about the United States government living further beyond its means. The real solution is to keep the debt ceiling exactly where it is and reduce spending.


  1. Dr. Paul (I often type "Ron Paul" and delete in order to show my respect for this statesman) needs to make this short 2 paragraph statement the centerpiece of his campaign.

    Imagine it- "I will never support raising the debt ceiling, and I will expect congress to find ways to cut in order to run the country within its means." Period!

    A vast majority of Americans are tightening their belts, and expect the government to do the same. Such a stance would resonate so loudly that the media would be forced to attack him even more vociferously, further ruining their already tattered image and credibility. People that disagree vehemently on several issues might support him as the lesser of two evils, although I predict that even those that do will find more and more to agree with as they study him and his core values and beliefs and rational theory for governance. Public education may have dampened common sense amongst the sheeple, but when someone as educated, impassioned and trustworthy as Dr. Paul speaks it rings true simply because it resonates with that deep down common sense.

    I'm forwarding this to several of my more skeptical friends, and adding my comments here. I urge other people to do the same.

  2. "A vast majority of Americans are tightening their belts, and expect the government to do the same"

    But there is a very influential minority, who demand that government not just add another hole right at the tip but go out and get a larger one. And theyve been very good customers at the leatherworks for years.

  3. He will need to reinforce his willingness to stay within the bounds of the constitution when it comes to his own powers as president. No more extrajudicial war powers, or executive orders or extraordinary renditions- powers he has always vehemently opposed. He will also have to show strength by vowing to use those powers legitimate to the office to end tyranny, here and abroad. He must first help the public understand the beauty and intelligence of the 10th amendment, and why the eventual devolution of those powers currently usurped by the federal government back to the states is a good idea. Many citizens remember their civics classes, and will eventually begin to see the wisdom of such policies.

    He must convince voters that he will use his power in the "bully pulpit" to help them understand why America is in such a sad state, and how we can work together-without government interference- to make their life better, to make the lives of their children and grandchildren better. He will have a national stage if he wins the primaries to comfort, challenge and chastise the nation. Chastise for profligacy and pride, challenge them to embrace freedom, and comfort them in the knowledge that their short-term pain will lead to worthy gains. His candor, integrity and honesty will prove convincing to many of the skeptics.

    A happy corollary of a Paul presidential nomination is the number of liberty-minded representatives it would usher into congress. Winning primaries would be driven by their identification with his campaign and philosophy. Although it probably wouldn't be enough to control the House, it would definitely shift priorities, especially if the GOP retains control.  Even in a Dem controlled House, the Paul contingent would have great influence, while beltway Repubs would be somewhat marginalized.

    I can only imagine the slings and arrows Dr. Paul will face from the vastly powerful interests aligned against his vision. The entire military-industrial-congressional complex will fight tooth and nail to stop him. At least their attacks will be tempered- to an extent -by the power of martyrs!

    Make no mistake- I firmly believe that Dr. Paul's challenge to the rich, powerful and corrupt puts him in grave danger. I pray that my fears for him are misplaced, but history shows the ruthlessness of power when threatened. I believe that the internet has made it almost impossible for a cover-up to work in the event of suspicious actions, but I never underestimate the enemies of liberty. 

    These are the reasons why I firmly believe that Dr. Ron Paul could and should be our next president.

  4. I am warming up to Dr. Paul to lead the way back to fiscal sanity. My biggest concern is his open borders stance. I don't believe we can survive the current border with an out of control welfare state not to mention the cultural & security aspects.