We Are Bankrupt According To Ron Paul

Ron Paul was on Fox News once again trying to explain the debt crisis. According to Paul we are going to default regardless of what Washington DC does. We have two choices, default by inflation which is what will happen when we raise the debt ceiling again, or we could default by simply not raising the debt ceiling. Paul explains that the dollar is losing ground while gold prices are skyrocketing. “Default is coming. The only argument that’s going on now is how to default, not send the checks out or just print the money. In all countries our size, they always print the money,” Paul said. “They’re going to raise the debt limit, and then they’re going to print the money, and then they’ll default by inflation, and that’s much more dangerous than facing up to the facts of what’s happening today.” Paul adds, “I think both sides are failing to understand that this country is bankrupt. There will be a default. The only debate that is going on is how you default and I vote for stopping the spending so we don’t have to print all the money.” So basically, this is all political theater and we the people are going to face the consequences of higher prices everywhere because of this lack of leadership we have elected to run our country.