The debt is expected to hit 70 percent of GDP this year, up from a historical average of just 37 percent, and 40 percent just in 2008. It will reach 100 percent in 10 years. The scariest figure is interest payments, set to rise from one percent of GDP today to 9 percent of the entire economy by 2035. Interest payments are set to crowd out every other spending priority and soon will exceed the mammoth defense budget, which itself is bigger than all domestic spending programs.

Read more: http://www.sfgate.com/cgi-bin/blogs/nov05election/detail?entry_id=91537#ixzz1QbCR9jxE

CBO report.

Nice to hear from a serious politician. And Ron is right, there’s going to be pain one way or another. His goal is to save the currency and end the fed (which by its very nature, destroys a currency slowly). Good video, Mediate.

better to get the pain over with as quickly as possible. this spending happy congress is a cancer – the only way to survive is to cut it all out – - – and hope for a full recovery. But it must be all cut out

Crazy old coot!

We have our Socialist in Congress and we have Libertarians, they both remind us what it would be like if we go too far one way or the other. Everyone needs a Bernard Sanders and Ron Paul in their life to keep us balanced.

Moderate said:
We have our Socialist in Congress and we have Libertarians, they both remind us what it would be like if we go too far one way or the other. Everyone needs a Bernard Sanders and Ron Paul in their life to keep us balanced.

Hey uh Moderate…

You are aware of the fact that the GOP and the DNC did moderate over the last 15 years and that, THAT is why we’re in this situation? If only we’d listen to people like the FRINGE Dennis Kucinich and Ron Paul’s we’d have NEVER gotten in this situation. We probably would not be in Iraq and certainly not Libya. We’d have no patriot act. I’d go so far as to suggest, If we’d have listened to the COOK and FRINGE “isolationists” there would have been little motivation for a 9-11. We’d also not have the insurmountable national and private debt as well as an out of control executive. I can’t list everything we’d NOT HAVE today if only we’d listened to people on the fringes.

We need tireless defenders of PRINCIPLE who are willing to honestly engage in exhaustive debate on the issues that matter. Ron Paul represents that and says exactly what he believes and why he believes it. You see that as a detriment, I see it as our salvation.

We’ve moderated ourselves into oblivion. Society is breaking down because the rules that govern it are unworkable. I can drink alcohol, but I can’t smoke weed. I can’t kill my neighbor preeminently, but we can declare war on nations preeminently. Governments #1 job is to protect our liberties, so MODERATES erode our LIBERTIES to protect us from potential acts of terrorism. Terrorism which is largely motivated by our foreign policy abroad. Every where you look there are obvious contradictions of a society with MODERATE desires of no principles.

We’re supposed to intervene in the middle east to promote stability and what happens? Chaos.

We’re supposed to intervene into the middle east to keep a stable price of oil. what happens? Oil skyrockets.

We’re supposed to and have been intervening into the economy and what happens? It’s unstable.

We’re supposed to give gov’t the right to intervene into health care and what happens? It’s incredibly expensive.

We’re supposed to let gov’t intervene and hand out college loans like they’re candy and what happens? College costs are skyrocketing and degrees are no longer worth what they were.

I could go on and on, but I won’t. In the words of Barry Goldwater;

” I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue”!

Ron Paul can say America SHOULD declare bankruptcy. But if voters give Obama another term, America WILL declare bankruptcy.

Those interested in seeing what leftwing government eventually leads to need merely to check the situation in Greece. The leftists in Greece kept on spending and spending until the MONEY WAS ALL GONE and NO ONE WOULD LEND THEM ANOTHER EURO.

It is a quite revealing situation. It answers the intriguing question of when do liberals finally act prudently and get their financial affairs in order. The answer, as Greece shows, is NEVER. The story always ends the same: leftists spend until everything collapses, and even when the money runs out they whine and demonstrate and riot. Just watch, a similar situation will play out in the US if Republicans don’t step in to fix matters first.

Why don’t we get the Wall Street Government (a term coined in the movie “The Inside Job” to get us out of this debt mess. Isn’t turn-about fair play?

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Good Luck Ron Paul..Only man with a brain in the race..

I said this a few days ago. It bears repeating.

Please, please, please you wingnutz hand the nomination to this moron, Ron Paul!

Have you idiots ever heard of a FICO score, or a Moody’s rating?

The homeless guy down the street won’t lend you a dime.

This is what the moron Ron Paul is saying. We as a nation are worth sHt!.

I wonder how many GOP congressmen have financial portfolios that will do well betting for a debt default.

Rep. Ron Paul: America ‘Should Declare Bankruptcy’

…Hey, Ron – the lunatic-left d-cRAT socialists are getting us there !!!!!

Without doubt, the role model for America that is pursued by the lunatic-left d-cRAT socialists is the utterly failed, morally, ethically, socially, politically and fiscally bankrupt european state of Greece.

Thanks to Greece, the d-cRAT socialists have an abundance of campaign slogans for the Nov. 2012 election:

“Re-elect d-cRATs and Complete the Transformation of America Into Greece”
“Continue the Greece-Fire in the American Economy: Vote d-cRAT!”
“Elect d-cRATs – We’ll Continue to Spend Like A Drunken Greek!”
“Don’t Let Greece Beat Us: Keep America #1 in Debt – Vote for a d-cRAT”
“We Burn Your Tax Dollars Faster than Greece Burns Its Cities! Go d-cRATs!”
“Show Your American Spirit by Helping Defeat Greece and Give America the Title “The SLOWEST GROWTH, HIGHEST TAX, MOST UNION-FAVORED STATE ON EARTH” by Electing d-cRAT Socialists !”

In Nov. 2012 LET’S TAKE BACK OUR COUNTRY: THROW OUT EACH AND EVERY D-CRAT SOCIALIST that is taking America down their lunatic-left “Road to Hell” (aka, “Road to Greece”).

Fact: I say save billons making all past and presant Congressmen and Senators live under same laws the rest of us have and no more pay or insurance once they are out of office. That will balance allot of debt. Put that in your pipe Ron Paul.

Glad that Ron will always pull a dedicated and dead end portion of the right… and Rand is right there to fill the eventual gap.

If one continuously spends more money than they have, what happens?

The US has continuously spent more money than it has.

The analogy is obvious.

Rep. Ron Paul: America ‘Should Declare Bankruptcy’

IOW, America should go ahead and admit what everyone already knows.

Ron Paul can never get elected. He speaks the plain truth.

Americans only vote for people that tell them what they want to hear, not objective reality. (sigh)

America is in serious trouble. Americans have got to look at themselves
realistically and let go of their longstanding illusion that they are the best
country in the world. There truly could be nothing further from the truth and
Canada, the only remaining first world nation in North America, regards the
American situation with both horror and disgust. Americans owe it to themselves
and the world to get their financial situation in order.