Ron Paul: The Bailout Is 'Immoral' and 'Unconstitutional'
Can Tran | October 17, 2008 at 02:06 pmby
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This could be counted as the third time that Paul has openly blasted the hefty bailout.
Back in late September, Paul had given his commentary on CNN. He explains that this bailout will only make things much worse. In Paul’s words, this is an example of the government butting into things.
In the beginning of October, Paul had addressed the hefty bailout again. Paul had given his suggestion: liquidate the debt and the bad investments. In addition, the markets need to be allowed to adjust the prices down.
During his interview with Kiran Chetry, Paul explained about bank tweaking. According to Paul, instead of a $700 billion bailout, it has increased to $850 billion. Paul had also brought up a Reuters story that came out. Interestingly enough, Paul said the article estimates that taxpayers would end up fronting up at least $5 trillion.
As a result, Paul has further criticism about the bailout. He expressed his concerns about inflation.
In regards to the economy, Paul went as far as to compare it to a drug junkie. He compared the Wall Street bailout as a temporary fix. Kind of like a junkie getting a temporary drug fix.
Paul adds that it is unconstitutional to ask the poor to put up money in order to save the rich.
To Paul, everybody about the bailout is “immoral.”
Perhaps this will not be the last time we will hear more criticisms from Paul in regards to the hefty bailout. This could be more ammo for the ever growing Ron Paul Revolution.
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