House Proceeding 04-01-09 on Apr 1st, 2009 :: 5:24:05 to 5:26:45
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5:23:45 to 5:30:00( Edit History Discussion )
Speech By: Ron Paul

5:24:05 to 5:24:26( Edit History Discussion )

Ron Paul: we hear that complaint a lot of times. but you know, when i look at it, i see there's been too much bipartisanship in creating the problem we've had. this crisis that we are in the midst of, this financial crisis didn't pop up here in the last 60 days and didn't pop up here in the last eight years, but has

5:24:27 to 5:24:48( Edit History Discussion )

Ron Paul: taken several decades for us to get to this point where we are today in dealing with a budget that is just totally out of control and monetary and economic system that is uncorolable as well. it is said this budget is going to be $3.6 trillion with a $1.1 trillion deficit.

5:24:49 to 5:25:09( Edit History Discussion )

Ron Paul: $1.1 trillion deficit is going to be $400 billion less than this year. i'll wait and see if that really comes out, because it probably won't work out that way. the statistics that we hear when we talabout the budget are never reliable, especially, especially when you're in a recession. in a recession, nobody can

5:25:10 to 5:25:30( Edit History Discussion )

Ron Paul: predict the revenues. the receive news are going to be a lot lower than they said. and the expenditures are going to be a lot higher. so i'm making a prediction that the spending will be over $4 trillion this year. and that the deficit is going to be over $2 trillion. and that the picture that we are

5:25:31 to 5:25:51( Edit History Discussion )

Ron Paul: looking at today is much worse than we're willing to admit. matter of fact, i think the problems we face today is not so much a budgetary problem. it's much different. we talk a lot about the budget. think about how many hours we talked about it today. the deficit in the budget is a symptom of something much more

5:25:52 to 5:26:12( Edit History Discussion )

Ron Paul: serious and that is, what have we allowed our government to become? i think it has been the loss of respect by us here in the congress to understand and take seriously article one, section eight. if we did that, we wouldn't be doing these things that we are doing. if we understood the tenth amendment, we wouldn't have a

5:26:13 to 5:26:34( Edit History Discussion )

Ron Paul: defendant. if we had a monetary system. conservatives like to spend a lot of money and liberals like to spend a lot of money. we raise taxes, be borrow and we have been doing it for decades and getting away with it, but it's coming to an end, because we have always been dependent on

5:26:35 to 5:26:57( Edit History Discussion )

Ron Paul: the fed to come in and monday advertise the debt. have they backed off? no, they're expanding. not only do they buy in the markets, but buying it directly from the treasury. they are encouraging us to do even more of this. we have endorsed as a congress and as a people a welfare