CNBC invited retiring Congressman and former Republican Presidential Candidate Ron Paul on to discuss the lunacy of the fiscal cliff negotiations going on in Congress. In this MUST WATCH interview, Paul informed the CNBC host that the resolution of the fiscal cliff is meaningless, as we have already passed the point of no return where we can get our house in order. Nobody wants to talk about military cuts..the safety net is always available, there has been a recent hurricane, there will be no hesitation whatsoever to spend that money ($100 billion) without any offsetting spending cuts...
This will be just like the Greece debt deals where there is agreement after agreement, but nothing is ever really fixed. There is no admission that there is a fiscal crisis. If they don’t admit it they can’t solve the problem, Congress is like a bunch of drug addicts seeking another fix!
Paul goes on to state that: “They pretend they are fighting up there, but they really aren’t. They are arguing over power, spin, who looks good, who looks bad, all trying to preserve the system where they can spend what they want, take care of their friends and print money when they need it.”
Paul’s full fiscal sanity below: [Read more...]