Ron Paul's solution to the national debt

Uh...My Social Security account is all in Treasury Bonds...

Wouldn't that mean I'm screwed?

Have I mentioned lately what a simpleton I think he is?
 
leftysergeant said:
Uh...My Social Security account is all in Treasury Bonds...

Wouldn't that mean I'm screwed?
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Well, that's not really the main problem with the idea. The so-called "Social Security Trust Fund" is money which the government owes itself. The main problems would be for everyone who had invested in US government bonds thinking that they were a safe investment and that the government would never be able to borrow money at a reasonable rate again.

Also, it would be against the 14th Amendment to the Constitution for the United States to repudiate its debts.
 
I'm surprised that Ron Paul thinks bankruptcy is a solution for Greece... I thought Greece got help from the EU specifically to avoid going bankrupt. Maybe the US can get the other countries in the North American Union to bail them out? Surely it is in their best interest not to destabilise the Amero.
 
So this Libertarian thinks you can simply walk out on contracts if you grow tired of keeping your end of them?
 
So plunging the world into an economic disaster that would make the Great Depression seem like boom times is his answer to the problem?
 
If the definition of a troll is someone who says things he doesn't believe for the sole purpose of gaining attention during the resulting emotionally charged arguments, then Ron Paul might be a troll.
 
Ladewig said:
If the definition of a troll is someone who says things he doesn't believe for the sole purpose of gaining attention during the resulting emotionally charged arguments, then Ron Paul might be a troll.
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Unfortunately like many in today's GOP when I hear Paul speak I think:
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Well I think if the US declares bankrupt I will need to withhold my taxes till a trustee is appointed and gives me instructions how to forward the money owed
 
I have a feeling this could result in a financial implosion and could be the first step in the advancement of a world govenrment. Could be wrong, but it sounds bad.
 
Not sure about the World Government bit INRM, but it doesn't sound bad. It is bad.
 
Puppycow said:
Just declare bankruptcy!

Yeah! Just give a big fat middle finger to everyone who's bought government bonds! That'll work!

:clap:
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If the government is bankrupt, then it's bankrupt. Might as well admit the problem and solve it, which is what declaring bankruptcy is all about.

If the government isn't bankrupt, then what's the problem, exactly? If the government isn't bankrupt, then it should have no trouble honoring all its debts and covering all its expenses.
 
INRM said:
I have a feeling this could result in a financial implosion and could be the first step in the advancement of a world govenrment. Could be wrong, but it sounds bad.
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First question: are you serious? If you are just kidding around, just say so and I won't get bent out of shape.


Second question: what do you expect this one-world government to look like?
 
INRM said:
I have a feeling this could result in a financial implosion and could be the first 5,872nd step in the advancement of a world govenrment. Could be wrong, but it sounds bad.
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ftfy
 
Yep, Paul's still a nutbar. I was getting worried for a while there; hadn't heard any updates in a while.
 
theprestige said:
If the government is bankrupt, then it's bankrupt. Might as well admit the problem and solve it, which is what declaring bankruptcy is all about.
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Well, the government is not bankrupt. It's not even close to going bankrupt. Declaring bankruptcy when you are not in fact bankrupt would be a problem.

If the government isn't bankrupt, then what's the problem, exactly? If the government isn't bankrupt, then it should have no trouble honoring all its debts and covering all its expenses.
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There is no problem, as long as Ron Paul's advice is ignored. Following his advice would be a catastrophe. That's sort of the point I was trying to make.
 
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