Ron Paul: This Bailout Won’t Be the Last

Ron Paul was recently interviewed by U.S. News and World Report.  A portion of the interview is already available on the web here.  The first question really gets at the heart of the matter:

What’s your take on this huge financial bailout?
“It’s more of the same. More debt and more inflation and more pressure on the dollar. Ultimately, although the markets are responding very favorably at the moment, I think it is going to be devastating to the dollar and to our financial situation in this country.”

Ron Paul later explains his belief that the Government will also bailout the airlines and automakers. This is understandable given the rationale for bailing out Wall St: “They are too big to fail.”  It is my opinion that when this over, we will be more socialist in our country than China is now.  China currently owns the banks, airlines, and automakers.  That is the direction in which we are headed.  One big difference is that a substantial part of our health care system is already under Government control (Medicare, Medicaid, VA, etc.).  Some in our country continue to push for nationalizing our health care system completely.

As Congress contemplates a $700 billion appropriation to continue to do more of the same, has anyone given any thought to the fact that this not the kind of “solution” we need?  Big Brother is taking care of Rich Brother.  Our children and grandchildren will be paying the price for this “quick fix” for decades to come.

There ARE limits to what Government can do.  The sooner we recognize that, the better off we and future generations of Americans will be.

Ron Paul was on CNN 9/19/08 discussing this as well.  See the clip below: