Congressman Ron Paul Against War Funding and IMF Bailout $106 billion we don't have

Congressman Ron Paul Against War Funding and IMF Bailout $106 billion we don't have

Congressman Ron Paul talks about the insane war supplemental appropriations bill, which much to his chagrin passed easily last week.

"Last week Congress passed the war supplemental appropriations bill. In an affront to all those who thought they voted for a peace candidate, the current president will be sending another $106 billion we don't have to continue the bloodshed in Afghanistan and Iraq, without a hint of a plan to bring our troops home.

"Many of my colleagues who voted with me as I opposed every war supplemental request under the previous administration seem to have changed their tune. I maintain that a vote to fund the war is a vote in favor of the war. Congress exercises its constitutional prerogatives through the power of the purse, and as long as Congress continues to enable these dangerous interventions abroad, there is no end in sight, that is until we face total economic collapse.

"From their spending habits, an economic collapse seems to be the goal of Congress and this administration. Washington spends with impunity domestically, bailing out and nationalizing everything they can get their hands on, and the foreign aid and IMF funding in this bill can rightly be called an international bailout!"
~ Ron Paul





Featuring Rep. Ron Paul (R-TX); with comments by Gilbert Schwartz, Partner, Schwartz & Ballen LLP, Former Associate General Counsel, Federal Reserve; and Bert Ely, President, Ely & Company, Inc. Moderated by Mark Calabria Director, Financial Regulation Studies, Cato Institute.

The Cato Institute
1000 Massachusetts Avenue, NW
Washington, DC 20001

Download a Podcast of the Event (MP3)

The recent financial crisis has led to a massive expansion of government involvement in our capital markets. Foremost among those interventions has been the almost tripling of the Federal Reserve's balance sheet, from just over $800 billion before the crisis to almost $2.3 trillion now. Even more astounding is that the increase, with its massive exposure of loss to the American taxpayer, has been conducted with almost no oversight from Congress. Rep. Ron Paul has long led efforts to bring greater transparency and accountability to the workings of government. Join us for a discussion on increasing the public transparency of the Federal Reserve.