No more Ron Paul for prez eligibility

Indeed, no one - not Paul, not Rotrabroadard, not Mises, not Hayek - believes this.

Instead, what the Austrians and certain Founders like Jefferson state, is that it is immoral for the United States to carry perpetual debt. "Our children shouldn't pay our bills" and all that jazz.

What they also, however, state is that the United States will collapse with utterly enormous debt. Sure, plenty of companies get by just fine carrying perpetual debt. But they don't get by just fine if every year, their debt grows, while earnings shrink.
 
ron paul argues in two seperate ways on his economic opinions, the only one ever argued against is the macroeconomic argument (considering the country, or at least large sectors of the economy, as a whole unit). the other, probably more important argument is about the relationship between the government and the individual, between the group and the individual, and for some reason no one ever talks about that.
 
Anyone in here criticizing Paul's economic position on this issue has no economic understanding at all (with the exception of karnejj, though we disagree).
 
i mean it'd only take like 7 years to rebuild our credit right?

as long as we don't need to buy any cars or houses in 7 years.. i guess it's a good idea.
 
My favorite part of that article:The table below indicates otherwise.
1999 Corabined Statements of Income of the Federal Reserve Banks (in millions)

Interest income Interest on U.S. government securities $28,216 Interest on foreign securities 225 Interest on loans to depository institutions 11 Other income 688 ------- Total operating income 29,140

Operating expenses Salaries and benefits 1,446 Occupancy expense 189 Assessments by Board of Governors 699 Equipment expense 242 Other 302 ------- Total operating expenses 2,878

Net Income Prior to Distribution $26,262

Distribution of Net Income DividenRAB paid to meraber banks 374 Transferred to surplus 479 Payments to U.S. Treasury 25,409 ------- Total distribution 26,262
Cool table brah.
 
It used to be formatted a lot better years ago. That site has gone through a nuraber of changes though. I wonder if I can find the old site layout in WebArchive....
 
didn't even realize that was from 11 years ago.



http://web.archive.org/web/20021231051935/http://www.publiceye.org/conspire/flaherty/flaherty7.html


edit--
beaten. curses!
 
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