I couldn't watch much of it because it was mostly a rehashed argument over whether to make rich Americans even more wealthy but making their tax cuts permanent. But the Republican debate did have Ron Paul on stage, and he made some cogent remarks about the latest collapse of the almighty Dow Jones rating--America's official scorecard. He rightly pointed out that the economy is taking a swan dive because of the enormous burden placed upon it by fighting two wars simultaneously. While the military outlays in Afghanistan could be justified--our intervention was in self defense, and we are part of a real international effort there--its easy see just how self immolating our reckless spending in the Iraq quagmire is. The non-partisan Congressional Budget Office released a report saying that the federal deficit will reach $250 billion due to $30 billion in additional outlays for the wars. This out of control spending in the name of "security" causes additional billions in interest expense, increases inflation, destabilizes an already weak dollar, and puts us at a trade disadvantage, not to mention the mercy of our biggest creditors, China and Saudi Arabia. If you only listen to Republicans because you are a white male living in South Carolina for example, may I suggest you listen to Ron Paul? He is still related to reality.
Friday, January 25, 2008
Ron Paul Speaks the Truth
I couldn't watch much of it because it was mostly a rehashed argument over whether to make rich Americans even more wealthy but making their tax cuts permanent. But the Republican debate did have Ron Paul on stage, and he made some cogent remarks about the latest collapse of the almighty Dow Jones rating--America's official scorecard. He rightly pointed out that the economy is taking a swan dive because of the enormous burden placed upon it by fighting two wars simultaneously. While the military outlays in Afghanistan could be justified--our intervention was in self defense, and we are part of a real international effort there--its easy see just how self immolating our reckless spending in the Iraq quagmire is. The non-partisan Congressional Budget Office released a report saying that the federal deficit will reach $250 billion due to $30 billion in additional outlays for the wars. This out of control spending in the name of "security" causes additional billions in interest expense, increases inflation, destabilizes an already weak dollar, and puts us at a trade disadvantage, not to mention the mercy of our biggest creditors, China and Saudi Arabia. If you only listen to Republicans because you are a white male living in South Carolina for example, may I suggest you listen to Ron Paul? He is still related to reality.