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Joining us now from Houston Texas and continuing -- 20121 on one serious.
As Republican congressman and presidential candidate Ron Paul congressman welcome back to FOX News Sunday -- Thank you Chris good to be with you you just heard director if you -- talk about all of the things that seem eight is doing to help people in the path of of Irene.
But you -- -- a couple of days ago about that we should do things the way we did all the way back in 19100.
Let's take a look at watches that.
-- is not very good friend most people in Texas utilities command and tell you what to do candy -- -- -- houses and -- Into the local people.
Volunteers from going in so there's no magic about the -- Congressman you wouldn't really at this point do away with the -- and all the things it's doing to help hundreds of thousands of people want to -- -- -- That your read the reports that came out a New Orleans and always -- -- -- dad giving checks to people who did even live there.
By a university and hundreds of millions -- -- over the trailers that they had to jump because they didn't meet FEMA standards.
Now it's on its it's a system up bureaucratic central economic planning which is a -- it is deeply flawed.
So now you don't get rid of something like that in one day matter of fact I've had just position for a long time and people kept re elected me and I have a postal district.
But I've also suggested that there's different ways to finance system because actually famous in big trouble financially there.
Flood programs about twenty billion dollars a day out.
So it's deeply flawed but it even back then when I refused to vote for the bailout money because we didn't have any money -- is I did a government can just bail -- everybody and vote for money.
But I propose that we should I save a half billion dollars from an overseas war mongering.
Bring half that -- put it against the deficit.
And yes tide people over until we come to our senses and realize that -- has been around since 1978.
It has one of the worst reputations for bureaucracy ever.
-- win elections because I fight for they've constituents.
To overcome the bureaucracy.
You can't imagine how many calls we get because -- is getting in the way and they can't get their checks they came to the -- Then these checks -- to.
You know contractors.
And the contractors and the people don't end up with that with the money the contractors and -- of the money sometime and no bid contracts so that candidate.
Anybody they want city fan this department and this agency they have a tough argument that it isn't argue for.
So celebrates late congressman I assume that at the an administration comes because as we say team is running out of money as the end of the fiscal year and they may have a lot of -- right now I assume if the Obama administration comes announced war.
An emergency funding bill for three and -- you're.
A definite sense give me -- a definite now.
-- -- -- -- Remind you what do you do about the patent and the China and part of the money but I would consider what I just said because I have I have.
Precise beliefs and what we should do and I want -- transition this dependency.
On the federal government.
But I would say yes -- you -- billion dollars cut two billion dollars -- that war in Libya that is on declared in the unconstitutional.
Bring those troops -- safe to billion dollars put a billion against the deficit.
And yes -- our people over I mean we we big condition are people that FEMA will take care of us and everything will be okay.
But you don't you try to make these programs work the best you -- -- But.
-- you can't just keep saying all they need money.
What we're out of money this country is bankrupt to this idea that a bleeding heart -- -- we have to take care of them.
I mean a whole idea of FEMA is -- got a gross distortion of insurance might -- FEMA creates many of our problems.
Because -- they sell the insurance because you can't buy it at you know from from a private company.
Which means there's a lot of danger so we pay people to build on beaches and the and the you have to go and rescue them.
So it's so far removed from the market and understanding of -- insurance should be about insurance should major risk.
It shouldn't be a bailout program and -- and encourage people to make mistakes and that's what we continuously do in the flood prone areas.
Congressman your and you -- -- and -- your libertarian views.
Are certainly somewhat unconventional but they have picked up growing support in this race and let's take a look at the numbers that we can.
The latest Gallup poll shows you in third -- In the GOP presidential race with 13% behind Perry and Romney but I had a a Bachmann and all the other candidates.
Added a match up with President Obama you're now basically even at 47% to 45 question.
What's going on here why are you gaining such -- and this year.
Well -- because it's a good idea as the American ideal but.
I think I've I'm fast they were here where her unconventional.
Is strange said we can apply that term to freedom and liberty in the constitution merely government -- a balanced budget.
You're proposing this unconventional.
Idea of government.
Well I think you're right about it.
-- today under today's circumstances has the end.
Unconventional for -- for about fifty years but right now the Tea Party movement in the independence in this country in people who are caring about our bankruptcy.
They they think it won't do what we've had is unconventional.
With regard shark constitution.
And the principles of liberty so yes.
-- people are waking up and are saying yeah Ron Paul's right.
Why are we fighting all these on declared war and why we have a Federal Reserve that bails out the rich and and dumps on the pool or.
And why is it that deficits don't really matter and politicians are seeing it around and talk that they're gonna nibble away at budget deficit is ten years out.
So now that this is a very popular philosophy that's not my philosophy is the philosophy of the constitution is the falsity a liberty private property rights.
In not dependency on government.
That is the big thing people are supposed to assume some responsibility.
For themselves and if rhesus.
My congressman I -- I wanna explore what your goal is in this campaign and I want to read from a an interesting profile view in the latest issue of time magazine let's put it -- on the screen.
As presidential contender Paul remains an extreme long shot but as -- that He is still defining the GOP race.
Paul's allies say he's more interested in influence than political power.
He does not have a great personal desire to be the president says Jesse Benton Paul's campaign manager.
My question is are you in this to win that war isn't enough for you just to -- that -- bad.
-- -- -- to win and you're absolutely right I do say that I'm more interested in influence and power.
-- -- as president I would reduce the power of government I wouldn't seek it I would never hate the power from the congress I would not go to war without congressional approval.
So yeah I resent the power there has a -- -- in the executive branch in the judicial system.
And I would want to shrink the size of government so that is exactly right.
That doesn't mean I don't want to win it means I want a new approach.
That guy get off you know at least from current standards.
For the presidency I want to Obey the constitution and -- it's very.
-- -- very great restrictions on the -- the constitution was written to restrict the government.
Not too restrictive people now let's turn around we we -- government to restrict the people in in all all manner so I would like to reverse that.
You've let's turn to foreign policy but you've addressed a couple of times already in this conversation while.
That most people celebrated the toppling of Libyan leader Gadhafi this week you did not use that desk.
The current situation and Libya may be a short term victory for empire.
But it is a loss for our American republic were still.
-- -- -- successor is likely to be just as -- out or worse than Gadhafi himself.
Question you really don't think that getting rid of this murderer they.
As Reagan called on the mad dog of the Middle East the architect of pan am one -- -- you don't think getting rid of Qaddafi is a good thing.
I it's a good thing I think it's the way we did it but why is it that we started doing business with him five years ago.
Was that a good thing I think that was simply too.
But was -- a great thing to get rid of Saddam Hussein.
Yes but do we have a great result in Iraq and now we've delivered Iraq to the -- -- So I would say long time consequences are very very important we have no idea what's gonna come on -- -- I'm very skeptical.
But maybe it'll be a miracle on everybody a wonderful and they'll have western democracy and everybody will please I'm predicting that's not gonna happen because -- already said.
Troops are needed now to maintain order coming -- those who the rebels who represented.
And there's good evidence that they al-Qaeda is there so we may be delivering al-Qaeda -- another prize they'll be in Libya they weren't there before.
And also the al-Qaeda is in Iraq now.
So these unintended consequences of our foreign policy -- so overwhelming logic tells us.
That we shouldn't be dealing with our foreign policy in this manner we should be -- for national security.
In defense of our country in -- pretending that we can pick the dictators around the world it's been very unsuccessful.
And the American people waking up this the one telltale sign -- of where of of the support I'm getting.
Is because of my foreign policy I get more donations from active military duty people.
-- all the other candidates put together which tells me a lot should tell the American people locked in haven't been in the military for five years believe me I help a little bit of understanding.
In the 1960s.
I wasn't anxious for Johnson to expand the war in Vietnam there's no way out -- encourage military people want to defend this country.
They don't want perpetual war.
When they're on declared and you don't see the and the you don't know who the economy.
Is -- there's too many restrictions on.
-- retaliate against the enemies and they get tired our Air National Guard units are over there guardian should be here taking care of us when we have floods but no there overseas.
And the military is worn out it's time for a change if for no other reason we're flat broke and we can't afford -- -- I'm sorry to interrupt but I I've got a couple more questions I -- -- ask you when we're running out of time you are a disciple of what's called the Austrian.
School of economics what is that briefly.
At -- and what what economists like.
But that -- -- and Friedrich I had the word to with the leaders of the -- -- right economics what they say is the right way to deal.
Would boosting the economy now and we're dealing with our national debt.
But they asked me says that one time neighbor -- runaway inflation and Austria this Austrian economics -- Then -- main leaders of the school came makes state they were mostly Jewish and they came over here to escape that nazism.
And they asked him once at the height have crisis like this in Jerusalem a bit more inflation.
And they said to nieces what would you do if you can say I'd resign.
Other -- Take your hands off and let the people take care let the people who.
Have lived beyond their means let them go bankrupt let the liquidation -- get rid of the Mal investment like we did in 1921 we recovered it's not -- -- hardly an architect spoke.
About the depression 1921 which was a natural consequence.
Of the inflation for World War I.
So we want our hands off the depression lasted seventeen years because we -- -- that.
Japan has had hands on -- been in the doldrums for twenty years.
So -- and we're now into this -- is slot more than five years were patient he'd been over ten years our economy has been slipping so they would say.
He hands off give us a sound currency.
Free up the markets property rights enforce contracts make -- people go bankrupt when they're bankrupt they don't bail lock their buddies.
Don't let the Federal Reserve creek mine and I fear there.
And bail out the bunnies.
-- -- The most important thing about Austrian economics is the artificially low interest rates which -- business people say jurors and consumers to do the wrong things they make mistakes I think it's sort of like a price control that causes all the problem.
And congress shall we have less than a minute left Fed Chairman Bernanke.
Announced this week that He has not going to take anti immediate action to boost the economy do think that your -- -- -- -- which is now being echoed.
By some other Republicans both in the presidential resident congress do you think your criticism may have led him.
To pull back.
We're really hasn't -- back symbolically He has and he's not having another QE3.
But He has maintained here we'll keep interest rates low for up until 2013.
He can't keep interest rates low without monetize in -- because if somebody else doesn't -- He has to buy it so he's continuously.
Quantitative really easily so Greenspan did that when He held interest rates too low too long and decrypt.
He was instrumental in creating the bubble so.
It is not a big change -- things He at least but He sort of said.
Oh it's up to the congress you know with the congress it's all the congress -- -- they need to deal with this because he's -- throwing up his hands.
But all He needs to do is quit monetizing debt interest rates to go up in congress would be forced to cut.
That is why gold backing a currency -- gold standard restrains big government governments can't spend endlessly for entitlements and I can't -- By deficit financing to fight these endless wars.
Congressman Paul we're gonna have to live there we wanna thank you so much for joining us and for the economics lesson as wells are always a pleasure to talk went really well we'll see on the campaign trail.
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