Ron Paul: Government Spending Driving Us Into Depression
Warns unread stimulus bill will prolong the agony
Texas Congressman Ron Paul has slammed the stimulus bill, passed by the House and Senate last week, as a blatant continuation of the destructive economic policy that caused the financial crisis in the first instance.
Paul, who is also a member of the House Financial Services Committee, pointed out that not one member of the House or the Senate has even read the bill.
"There were five copies available to the House and I think five to the Senate, and that wasn't available 'til the House opened at noon time." The Congressman told CNN viewers yesterday.
"So essentially it was not available to us and who can stay up all night and read a thousand pages?"
"So obviously it was done like business as usual. Things have been going on like this for a long time, but this one was a little bit worse, it was bigger than usual so it was not a very good day for America." Paul said.
The Congressman again explained how the bill will do very little to stimulate the economy and will only prolong the problem and delay financial recovery.
"The rate we are going, we are just throwing more money at it, we don't change any policies, whether it's the welfare policy or the warfare policy, they always remain the same when either party is in power."
"We got into the mess by spending too much money, running up to much debt, and printing too much money." Paul said.
The Congressman added that cutting taxes is not effective enough when the stimulus bill also mandates continued spending.
"This bill was equivalent to what we had spent prior to 1980. The national debt was $800 billion in 1980. We had to raise the national debt this time with this bill by another nearly $800 billion."
"So it is a process that will delay the recovery, we won't have the correction, and we will drive ourselves into depression the way we are going." he urged.
President Obama will sign the bill tomorrow in Denver.
(InfoWars)

Is that right? $800 billion dollars was tossed into the wind just because it seems like a good idea? Nobody has read the bill! Nobody was able to read it.

Does nobody else think this is astonishing?

Perhaps when Congress was press-ganged into passing the first bailout bill many figured it is futile to go against the diktats from Comrade Obama. From an outsider's perspective it is also amazing how what seem to be called 'bills' have all sort of other legislative quicksand that people sink into only months later when it starts getting enacted.

The USA is not Iceland, but at this rate the debt repayment is going to reach the point where Treasury bills are no longer safe havens but about as reliable as a bar tab. This is exactly what happened in the Great Depression and it didn't work then. Truly astonishing.

As many have also commented, does the world need another war to get the economies going?

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