Ron Paul on stimulus

Since being blackballed by the media and forced unceremoniously from the Republican primaries more than a year ago, Representative Ron Paul(R-TX) has been receiving a lot more air time in the midst of our deepening economic woes.

Of course, now that the nation has sleepwalked into another Establishment Presidency and Congress, I guess it’s safe for them to start covering the lone Wahington politician that has been warning us for more than twenty years the folly of our economic system and those that operate it.

CNN was gracious enough to have Paul on the other day and get his take on the Obama stimulus package being “debated” now in Wahington.

Watch Part I

Watch Part II

Of course, CNN was more than happy to supply a panel of “experts” (read: establishment hacks) to inform us how silly sound economic policy is.

A few choice quotes from the interview…

On why he thinks the stimulus package is a bad idea…

“It’s because the government is spending it. If the people were spending it it would be fine, but the government never does anything productive. They have to take money from productive individuals and spend it in non productive ways, so it’s just digging a bigger hole, getting us into bigger debt, and that is the problem.”

“This stimulus package is going to cost each and every American $6700 of more debt, so how can that be beneficial? If debt was the answer we would of never had a problem.”

On blaming Capitalism and free markets…

“We never had a hands off approach, that’s the fallacy, and as long as we believe that we will never correct our problem. If you blame Capitalism and free markets and sound money for this then we can’t win the intellectual fight.”

“If you want to regulate, regulate Government agencies, regulate the Treasury, regulate the Federal Reserve. The Federal Reserve has no oversight, they’re not even permitted to be audited by law, so that’s the kind of oversight we need. The Federal Reserve has committed trillions of dollars to individuals, corporations and banks, they don’t even have to tell us where it’s gone to.”

“We got into this mess by spending too much, borrowing too much and inflating too much. Government was too big and we had too many regulations. We had rejected the market economy for decades, we have rejected the notion of sound money for decades, and we got into a mess this way. So what is the proposal? Spend more money, borrow more money, print more money, regulate more, it makes no sense whatsoever.”

I know it has become fashionable and rather simple to focus all the blame for our economic woes on our recently departed former President, but what the average American needs to understand can be better summed up by this quote from Thomas Jefferson…

“Single acts of tyranny may be ascribed to the accidental opinion of a day. But a series of oppressions, begun at a distinguished period, and pursued unalterably through every change of ministers, too plainly proves a deliberate systematic plan of reducing us to slavery.”

The causes of our current economic crisis can be traced back many years, through Republican and Democrat Presidents alike, regardless of what party controlled the Congress at the time. Sure, the partisan gamesmanship was displayed appropriately, but at the end of the day, the necessary legislation always found its mark.

One more from Jefferson…

”If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children will wake up homeless on the continent their fathers occupied. The issuing of money should be taken from all banks and restored to Congress and the People to Whom it belongs!”

Sounds pretty accurate to me.