“Republican presidential candidate Ron Paul dismissed House SpeakerJohn Boehner’s call for spending cuts to match any increase in the federal debt ceiling. A fiscal catastrophe is coming whether or not the country exhausts its borrowing power, he said.
“I don’t take it seriously,” the Texas congressman said of Boehner’s demand. Paul predicted Congress would “go up to the last minute” before the Aug. 2 deadline and then raise the nation’s $14.3 trillion legal debt limit, yet fail to solve the problems underlying the nation’s soaring deficits.
“The catastrophe comes regardless, because as long as they encourage more spending, then we go over a cliff,” Paul said in an interview for “Political Capital with Al Hunt,” airing this weekend. “So I want to stop us,” said Paul, who said he will vote against raising the limit.
He dismissed discussion of a cap on future spending, saying it would be “too little, too late.”
“Do you think the American people are going to believe that we’re going to cut in the future?” added Paul, 75. He said any reductions promised beyond this year’s budget amount to “pie-in-the-sky talking.”
On presidential politics, Paul said that while other Republican candidates seeking to take on President Barack Obama in 2012 are echoing his themes on spending and debt, he is the only one who has a record that matches the rhetoric.
Isn’t paul a “kindness of strangers/what if china stops buying our bonds/hyperinflationista” kind of guy?
well he warns of this, but i think he knows the IMF, World Bank, and i think the American Interbanc would come to the rescue….