News Anchor: …eventually went to John McCain, and Congressman Paul is on the line with us. Congressman, thanks for your time, we appreciate it.
Ron Paul: Thank you, good to be with you.
News Anchor: Hey congressman, do you give the president’s policies credit for thawing markets and auto sales and student loans? What do you think about what the president said in his speech?
Ron Paul: Well, I don’t think a whole lot of it. I think we had a new deal and a fair deal, but I think this is going to be a bad deal and not help at all. But I don’t blame him for the problems, I blame him for the prolongation of this, because he was very explicit by saying that government shouldn’t cut back on spending. He wants to massively increase the spending. And therefore, he is going to prolong it.
But this was a long time in building. This took 25-30 years to build the bubble. And everything he talks about is re-inflating the bubble and buying up bad assets and then later on we’ll deal with discipline. But he had mentioned that individuals don’t want to spend money because they’re doing the correct thing. They’re cutting back, they’re saving. That’s what an individual is supposed to do.
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