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Tuesday, January 27, 2009

Budget anticipation: Ron Paul on Morning Joe and CNN

Texas Congressman Ron Paul has been busy criticizing the U.S. stimulus package (his former economic adviser Peter Schiff has been doing the same). Here he is on Morning Joe from earlier today, doing his best to answer questions from folks sympathetic to Keynesian economics:

Paul was also on CNN earlier today. (The Patriot Act of finance? That's what some libertarians are calling the fiscal stimulus.):

Too few politicians and pundits are manning the barricades to defend the free and open market, and to stand up to big-spending governments around the world. It's good to see Paul and Schiff getting major network airtime to at least present the case for a small government approach to the economic crisis.

Posted by P.M. Jaworski on January 27, 2009 in Economic freedom | Permalink


Ron Paul is the modern-day statesman "lone voice in the desert". He is telling us what we may not necessarily want to hear, but it is more truthful than what the more political types in Washington are saying. Any interviews he gives are MUCH more substantive and bankable than what can be heard from any of his congressional colleagues, who are programmed to see every challenge we face as an opportunity for them to to wheel and deal for political gain..

Posted by: Darryl Schmitz | 2009-01-27 9:31:53 AM

Why isn't this man President ????

Posted by: Celeste | 2009-01-27 12:13:21 PM

You treat Paul like he was a messianic figure.

There is only one and his name is Barack H. Obama. get with the program people. The One does not tolerate dissent. Follow and obey and all will be well.

Posted by: Zebulon Pike | 2009-01-27 12:15:05 PM

Nice to see some coverage, however scant, the rEVOLution is getting here in Canada.

Too bad Flaherty is caving to the pressure from the left. I didn't vote Conservative because of Harper's war mongering abroad. But with Ignatieff, (Canada's Cheney) at the helm I'd back the Conservatives to stop the pillaging of the treasury.

Thanks Western Standard.
-from a fellow Paulite in Ontario

Posted by: Barney | 2009-01-27 1:21:02 PM

Ron Paul was speaking facts to the Keynesian interviewers who believe in more spending. Funny when the lady held up the newspaper article about the poor auto industry - as if government should steal funds from taxpayers to prop up a specific industry. Ron Paul told her if there is any value in those companies then they would be bought up. That makes sense.

Posted by: Samuel | 2009-01-27 2:17:47 PM

"By a continuing process of inflation, governments can confiscate, secretly and
unobserved, an important part of the wealth of their citizens. There is no
subtler, no surer means of overturning the existing basis of society than to
debauch the currency. The process engages all the hidden forces of economic law
on the side of destruction, and does it in a manner which not one man in a
million is able to diagnose."
-- John Maynard Keynes
(1883-1946) British economist
Source: "The Economic Consequences Of The Peace"

Posted by: JC | 2009-01-27 3:00:17 PM

No one would say I'm a big fan of Ron Paul, but the Morning Joe tag team was pretty fantastic.

He slapped them around and handled their more ridiculous questions well, like this one:

"You didn't answer my question. What would you DO, Congressman Paul?" Which means, to that group, and virtually everyone else, "How would you spend other folks' money?"

Posted by: Terrence Watson | 2009-01-27 6:42:49 PM

Wow. Watching that video I felt like the one one panelist who agreed with Ron Paul on everything, but really wanted to hear a suggestion from Paul on how to realistically get there. When Paul replied to the question about living with double-digit inflation for a few years by claiming that the blame has to be shouldered by those that caused the problem and not by those that are trying to solve it, I found that supremely disingenuous. That's simply not the way it works. No politician gets the credit for making tough choices that cause short-term pain. It's the politicians who come afterwards who get to take credit when the benefits kick in. I mean, there's the old Reagan quip that it's amazing what one can accomplish when you don't care who gets the credit. It's a fine sentiment. But if a politician is seriously going to try and promote this level of economic responsibility, they will HAVE to be up-front about the challenges that individual citizens are going to have to face in the short term, not just deflect blame for the problem. That was the key to the Mike Harris Tories' early success. They told the voters, "this is going to hurt. But it's got to be done. You may not like us, but you can count on us doing what we say we're going to do." You can even give Jean Chretien a bit of credit for telling the public that some of his government's cuts were going to be painful. But Jean Chretien had a rock solid majority with a hopelessly divided opposition, and Mike Harris was riding on the memory of the unprecedented failure of Bob Rae's NDP government. They could afford that kind of risk. Ron Paul's not being honest about how much the cure is going to hurt.

Posted by: anonymous | 2009-01-27 10:31:58 PM

The cure will hurt but a prolonged depression will hurt a lot more. During the Great Depression there were signs that in 1930 the economy was about to turn for the better. The Smoot-Hawley Tariff Act put paid to that. Watch the price of gold. It usually signals inflation. It looks like it will get very nasty. $900 per ounce may only be the beginning.

Posted by: DML | 2009-01-28 12:36:36 AM

Here's the truth about Peter Schiff:


Posted by: Greg | 2009-01-28 3:43:12 PM

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