Statement at JEC Hearing July 14, 2010

[razorac]

Dr. Paul - Always telling the truth. Keep it up!

[Truthpolice9698]

.If the Y = C+I+G+NX formula was revised to reflect reality maybe politicians would not be so foolish with our money. Paul Krugman would be out of business.

[Truthpolice9698]

-0.8 coefficient can be changed to a -0.5 or something. It would always be negative bout could be evaluated ever 5 years or so..We don't need a NX or imports minus exports. Imports always balance with exports either in the form of trade or bonds. If there is to great of a imbalance the consumers of the bonds that finance the trade deficit will be punished by the devaluation of the dollar that will occur sooner or later.

[Truthpolice9698]

So to reflect this dead weight loss in productivity to the economy we use the negative coefficient -0.8 in front of the G in the equation. In the future if the waste is eliminated and more government spending goes toward productive uses for the economy the

[Truthpolice9698]

Government spending is a dead weight loss or a drag on the economy. We do need some government spending for defense, courts, cops and so forth. In todays government probably 80% is useless waste.

[Truthpolice9698]

The problem with the Keynesian's is they believe in the Y = C + I + G + NX formula which should be rewritten as

Y (GDP) = C (Consumption) + (1.05)I + (-0.8)G

Notes: Investment is more valuable to the economy than consumption and should have a multiplying factor of at least 5% so you put the coefficient 1.05 in from of investment.

[funtala]

I mean, that's too good of an explanation. amazing

[tfboyle]

Fantastic.

[yakyakyak69]

Watch the film: "Money as Debt" on YouTube.

Then defend the Constitution and liberty against ALL enemies both foreign and congressional.

[LemonAndYoghurt]

Why aren't more people supporting this man, what is this world coming to?

Bizarrrr!

[dmancornell]

@WelcomeToPlanetEarth

so what you call "free trade" is actually corporatism (i.e. statists working together with corporations). yet another statist lie about the true nature of world problems, i.e. government.

[dmancornell]

@WelcomeToPlanetEarth

haha. people who "dump" are really just selling at a lower price because they can compete better. selling at a price that does not cover cost will bankrupt a business.

apparently you cannot even understand elementary arithmetic.

[PatsBlog]

@WelcomeToPlanetEarth We can only hope. Unfortunately liberty and the rule of Constitutional law doesn't seem to be at the peak of the establishment's agenda these days.  I voted for Paul last time around. Anyone who wanted REAL change voted for him. Those hoping for change from President Obama are either disappointed or brain dead zombies who can't tell the difference. :-)

[PatsBlog]

@WTPE You bring up a VERY good point. Trade between countries is good to a point. As you noted it's hard to compete with child labor, prisoners, gov't subsidies, and slave labor. On the other hand, we tax and regulate US businesses to death and send them overseas where they can make a profit. We have the equation backwards! We should tax outsiders to death for the privilege of selling here, and keep regs and taxes on US businesses low. We have the best Congress money can buy...

[jasonthome]

So fundamental, but so true when he says about any household: "When you get in over your head and you cant pay the bills, you either have to declare bankruptcy, or work hard or take a new job."

[dmancornell]

@WelcomeToPlanetEarth

LOL dumping, that's a good one. it's called competition. the US cannot compete in manufacturing because of the parasitic unions and their idiot backers like you. that is simple fact.

free trade won't destroy the economy, it will destroy inefficient elements.

[cha1biking]

he's the only one that knows what;s going on in congress.

[bertly71]

Liars figure and figures lie.

[TheHomelandDefender]

Ron Paul makes me sick. When will this big government liberal freakshow ron paul just go away and shut his big yapper?

[mexforthetex]

@TheHomelandDefender

Yes Sir, Ron Paul makes sick only the conformist, pro-big government, welfare-

warfare, wall street, big corporation idiots

[PatsBlog]

@TheHomelandDefender I find it interesting that you have such negative feelings toward Ron Paul. What is it about him that makes you sick? You called him a "big government liberal freak show." Actually he is one of the most conservative members of Congress. And regarding speech, why would you want only one group of people allowed to present ideas in Congress? Don't we all benefit from an open exchange of ideas? Do you think it is wise to continue borrowing from China?

[mmaier2112]

@TheHomelandDefender I can't tell if you're trying to be funny or just an utter fucking moron.

Well, you're funny either way so thanks for the chuckle.

[dmancornell]

@WelcomeToPlanetEarth

bwahaha that's a good one. only the US buys cheap goods. right. zomg you are such a fucking idiot.

[dmancornell]

@WelcomeToPlanetEarth

retard

[lordoftheherb]

RUN RON, RUN!!!!!

[PioKolby]

Ron Paul 2012!

[lushfauna]

Please run Ron - You''l win this time the wind is right you where just a term too early butt it was meant to be. PLEASE RUN!

[PatsBlog]

@lushfauna We could only hope! At least this time it would be very difficult for the media to ignore him and shut him out of the process. They would have to find a way to discredit him with a scandal, or some other plot. At least his message would get into the mainstream... :-)

[lushfauna]

@PatsBlog During NH primary they tried to start a scandal on him about being a racist.. It was repeated on the news non stop until the NH vote and then stopped and never was brought up again he had momentum out of Iowa and they where afraid.

[smittywarbermanjenki]

Please run in 2012.

We need a real president, not a pitch man for the FED.

[GreatSatan1]

"One of my mentors, years ago, told me this:

"You can't spend yourself rich"

and, he said "Most people say they would like to make a million dollars. No, what they mean is they would like to SPEND a million dollars."

[GreatSatan1]

For those of you with no vocabulary, educated in our public school system , I will throw you a bone: Grimly mocking or cynical. (sardonic)

[GreatSatan1]

People DO sense what is really going on. Me, for example. I came up with a sardonic grin when told by Obama that my SS would not increase to match inflation this year. I've been retired for 11 years now and I depend on SS for my sustenance. He said there was no increase in cost of living so I wouldn't get an offsetting cost of living increase in my SS. Lots of seniors are very unhappy with Mr. Obama. Also, lots of seniors are unhappy because of the cuts in medicare that directly impacts them.

[savagegalt]

@GreatSatan1 well

they certainly should be.  However, it is foolish to have not saved for one's own retirement & have relied on gov't. I don't want to work for anyone else and I CERTAINLY don't count on social security being there for me. Older folks had a duty to prevent the Socialism/Corporatism that has been lain at the feet of those like myself (20-30 and younger). Prior generations failed us by not resisting until now...and you are now reaping the fruits of your generation's apathy.

[GreatSatan1]

@savagegalt It is beyond foolish. It is stupid. Older folks like myself, a Korean War vet, served our country to prevent communism from spreading around the world. Not to say our system is perfect, but it is, or was, 1000s of times better than any so called collectivist government. Soviet Russia. Communist China are the big examples. The cultural revolution, the great leap forward, the stalinist rage against education and the wealthy. All resulted in disasters too big to forget..

[GreatSatan1]

@savagegalt There is something wrong with blaming those of us left alive, the WWII Vets, The Korean Vets, The Vietnam Vets, the Desert Storm vets. To blame older people for the corporatism that works its' way into our government is to blame those who worked the hardest to prevent it. It is the generation after the summer of love, 1968 that has failed. Our educational system failed them, and they have failed.

[mmaier2112]

So the useful idiots in previous generation are blameless? Funny. Very funny.

[GreatSatan1]

@mmaier2112 Define useful idiot for me please.

[mmaier2112]

@GreatSatan1 Google is your friend.

I don't excuse my generation (born 1972) but I sure AS FUCK don't excuse any previous generations either.

[TAMARLANE]

@mmaier2112 No one is asking you to excuse anyone. I asked for you not to blame others for your obvious guilt. Join the military. Serve. Then come back and see me.

[mmaier2112]

@TAMARLANE STFU, statist pig. You swore an oath to protect my free speech weren't released from it upon leaving service. So you don't get to try and short-circuit my having an opinion. I'm a man, not a bleating sheep like you want.

"Serving" is mercenary work. Killing for pay. Oppressing for dollars.

The US hasn't fought a defensive war since the 1780s.

If you "served" you were a paid corporatist thug. Go look up "War Is a Racket" by Smedley Butler, whose service record puts yours to shame.

[PatsBlog]

@GreatSatan1 No, disrespect to any of the honorable men and women who sacrificed through many wars and defended our nation and who are the hardworking backbone of our society. However, our country has been on a collision course with socialism since the early 1900s. Whatever you want to call it, those in government have been getting more and more powerful, and handing more and more power to a small cabal. Lust and greed didn't begin in 1968. It's been around for generations--ours included.

[PatsBlog]

@savagegalt Plenty of blame to go around. Those at the helm of our gov't have a LOT of power over people and resources. As wrong as it is, the gov't promoted the perception of social security being like a trust fund gaining interest as opposed to the Congressional slush fund it actually is. Yes, older folks were duped, but I notice that President Obama was very popular among the younger generation, so younger folks need to wake up too. Squabbling like this is advantageous to those in power.

[winslowwind]

Ron Paul has more common sense in his pinky than most listening in the chamber.

[ScottBrownCreative]

This man is my hero. That's all I can say. He's what an American should be.

[NCIcaucus]

As always Ron Paul!! The MOST HONEST man in DC...if not the ONLY HONEST man in DC!! Ron Paul in 2012!!

[FREEUS1776]

Brilliant as usual Ron. You brought your A game

[MrSocrates513]

Ron Paul the orignal Tea Party!! Read the The revolution a manifesto by Ron Paul

[agent059]

RON PAUL REVOLUTION!!! MARCH ON YOUR STATE CAMPAIGNS!!!

Follow your local Libertarian Parties in your state, follow the Campaign for Liberty. Find out who's on your Primary Ballots and start campaigning now!!!

Republican & Democrat, the hole party system is a lie. Read George Washington's Farewell address where he warns of the dangers of a 2 Party system and a large standing Army.

AS A CITIZEN IT IS YOUR OBLIGATION TO UPHOLD AND DEFEND THE CONSTITUTION!!! RED! White and blue

[DarkFrostX5]

Ron Paul is Awesome.

[TankSwift]

Ron Paul is a Champion of freedom.

Ron Paul 2012

[boult81]

Watching Dr. Paul speak the truth was by far the best 3 min's I spent today.

[PatsBlog]

@boult81 Me too. It's sad that our nation is so caught up in American Idol and sports to pay attention to things that matter.

[bertly71]

The smartest and most honest person in the process of running our country. The government creates their own book keeping rules as they go.

[SaintEntreri]

CHANGE 2012 BUT ACTUALLY CHANGE THIS TIME

[yakyakyak69]

Is Dr. Paul the ONLY member of Congress that understands that the Bill of Rights amended both the Commerce and General Welfare clauses to end ambiguity in those parts of the original Constitution?

That the 10th Amendment exists because the founders realized that ambiguity requires interpretation which leads to tyranny because power naturally concentrates & corrupts.

That We, the People need our natural rights protected from gov't tyranny!

Today's Tyrants call themselves Progressives!

[lushfauna]

@yakyakyak69 Ya true, but Glen beck leaves out allot of important stuff don't feed into it all- He's the mike moore of the right.

[yakyakyak69]

@lushfauna NO, Mike Moore is a Socialist (anti-liberty) liberal progressive. Glen Beck is a libertarian. Watch: The American Form of Government" here on YouTube.

[lushfauna]

@yakyakyak69 You don't get it- He is the mike moore of the right- He dosen't delve into the B.S. wars and says don't worry bout bilderburgers used to call ron paul a nut and never get into the vast military empire that's sucking us dry faster than anything else. He covers, shades and says alot of things that are true but in current history is way off. KNOW THIS 1 THING- DEMS/REPS "for the most part" are vomit. RudyMcCromney will not change a dam thing. Do more than listen to beck- christ sake

[yakyakyak69]

@lushfauna I spent time reading: United States Constitution Federalist Papers Bastiat: The Law The Jefferson Letters Anti-Federalist Papers Articles of Confederation Declaration of Independence Thomas Paine's Common Sense Washington's Farewell Address Patrick Henry: "Give Me Liberty" Speech Adam Smith: The Wealth of Nations John Adams: Thoughts on Government John Locke: Second Treatise of Civil Government Also watch YouTube: "Money as Debt" and "The American Form of Governent"

[lushfauna]

@yakyakyak69 Well that's good... I have some of the same- To make it more clear, he twist the present and recent past not the colonial times. Saw Money as debt years ago , a good one.. Have you seen "freedom to fascism" by Arron Russo? That ones great to- Or "Democracy next time" by John Pilger- Excellent- There's more to it than Beck says believe me he covers for the Neo Cons establishment trust me on that one.

[PatsBlog]

@lushfauna Thank you, thank you, thank you! I get so tired of hearing tirades between the "right" and "left". There is very little difference between Republicans and Democrats. Sounds like you've read "Tragedy and Hope" by Carroll Quigley. If talk radio folks were REALLY conservative, they'd be pushing for candidates like Peter Schiff in CT. When Paul ran for president you heard not one word of support from the conservative media. Hannity was actually belligerent against him!

[lushfauna]

@PatsBlog Your spot on and you get it too... I love Schiff, I found that the thing that matters most is their track record of being right, and understanding the common sense that the Constitution provides, Like Schiff, Ron/Rand, Judge Nepalitano, Jessie Ventura, Gerald Celenty, Mike revero, Alex Jones, Lou Dobbs and many others. I yelled "you suck shawn" right to Hannitys face" in the new ron paul movie "for Liberty" We all threw snowballs at him for Faux kicking Ron Paul out of the debate.

[PatsBlog]

@yakyakyak69 Beck is not as conservative as he'd like you to think. He won't pull the string all the way to the major players. He won't speak out against our empire building that's bankrupting our country. He DOES say some good things, but if you take all the conservative talkers and stand them side by side by their liberal counterparts you won't find much difference. The Dems were screaming bloody murder about Bush's wars. What happened to them now that their guy's in power? All the same...

[lushfauna]

@PatsBlog amen to that brother....

[bossduff]

This guy has his finger on it.

[elfenomeno777]

Right on congressman. For USA's sake you better be the next president.

[gregclin]

I'll be campaigning for Ron Paul in 2012.

[polarpetrus]

RON PAUL 2012!

[charlessmyth]

Simplistic as it may be, gold was £10.71 a gram, in mid 2007. A gram of gold is now in excess of £25.00 a gram, and heading to more than £27.00 a gram. Now that's inflation, well in excess of 6%.

[kosmicvodku]

I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country. --- Thomas Jefferson

[Shohadaku]

Ron Paul 2012 or bust (no kidding)

[Shaunt1]

Yes the situation is not good and the government is making it worse.

[betteryouthanme]

Bamboozled!

[n66178]

Ron Paul for President!!!!!!

[wcarlpdrysdale]

That's my boy. :)

[noyouaintgettingit]

Ron Paul for PRESIDENT 2012

[korzym]

@noyouaintgettingit yess!!!

[WKaliberr]

Ron Paul is a nutter 

[noyouaintgettingit]

@WKaliberr @WKaliberr Yeah, its sure is nuts to want to put corruption in its place, isn't it? It sure is "nuts" to want to end the federal reserve and put the issuance of currency back into the hands of the congress like our constitution says we're supposed to. It sure is "nuts" to want to end the corruption of the Bilderbergs, isn't it? Thats nuts! Seems more like YOU'RE the one whos nuts WKaliberr, not RON PAUL.

[WKaliberr]

@noyouaintgettingit

He is a nutter. Thank God he will never be president

[trendsetter74]

@WKaliberr Are you even an American? Either way u are ignorant.

[WKaliberr]

@trendsetter74 yes, and I realize that Paul is a nutter

[noyouaintgettingit]

@WKaliberr You're a nutter WKaliberr.

[lushfauna]

@WKaliberr u r

[noyouaintgettingit]

@WKaliberr You'll eat your words when he is President.

[noyouaintgettingit]

@WKaliberr We, the people of the United States will vote him in 2012. You wait and see.

[WKaliberr]

@noyouaintgettingit no, they won't

not in 2012, not in 2016

NEVER

[noyouaintgettingit]

@WKaliberr Yes we will.

[spyletu]

@WKaliberr don't sound so hopeless. not everyone pines and wastes away his life like you do. some actually try to save the country. why don't you read a book? let's start there.

[WKaliberr]

@spyletu I have read more books than you have looked at. I know more about everything than you ever will. Ron Paul is a fucking idiot.

[residentzombie]

@WKaliberr so what exactly do you disagree with Ron about? If you support Obama, than you should have supported Bush as well. I see VERY little difference between the two.

[WKaliberr]

@residentzombie I dont support Obama, I didnt support Bush. Ron Paul wants to dismantle every institution, he is a nutcase

[roundman3000]

@WKaliberr I don't believe Dr. Paul wants to dismantle every institution. Seems that he believes very strongly in the institution of FAMILY which IS the most important institution. We deceive ourselves when we believe the government can fix everything for us. Government has its place and should be put back into it for the sake of the family.

[WKaliberr]

@roundman3000 tell me how is the family the most important institution

and how do you promote family? ban gay marriage? Will Mr.Paul go to every household and tell the couples to stop fighting, kiss and make up?

[roundman3000]

@WKaliberr Who the hell said ban gay marriage? Gay people can't be a family? You don't have to promote family, it kinda promotes itself. Without families there wouldn't be anyone on earth unless I really didn't get the message in science class. The institution of the family was around long before the institution of government. My mom and dad fought and got divorced doesn't mean they still weren't my family. Some have traditional families some don't. Doesn't matter it's still important.

[GreatSatan1]

@WKaliberr A good starting point for understanding things in this world is to realize the importance of family. Without family you have nothing. No man is an island, they say. Take care of yourself, your family, your neighbors and friends, and the rest will take care of itself.

[PraiseYeshua]

@WKaliberr The best you can do is desperately resort to adhominem attacks toward his Honor Ron Paul due to your ignorance. If you want to talk about nuts, let's talk about how the heck we can afford all the government institutions such as Department of Education, Homeland Security, etc. when we are in debt. For that matter, how we can afford to lend money to poorly run companies and countries that deserve bankruptcy

[PatsBlog]

@WKaliberr I don't support most of Obama's or Bush's policies. But in what way is Paul a nutcase? I think he's just in favor of dismantling the institutions the federal government has no business operating. I have read two of Dr. Paul's books, watched him in debates, & watch him on CSPAN. I find most of what he says to be very rational. I'd be interested in hearing what you think is "nuts" about him. PM me if you need more space. I'm really interested to understand your opinion.

[yakyakyak69]

@residentzombie The only difference between Bush and ObaMao is velocity.

[PatsBlog]

@yakyakyak69 Very good observation and well said!

[spyletu]

@WKaliberr and why the fuck does it matter who people like you vote for anyway? you're worth a fraction of goods you consume.. if those like you were to decide who the president of the united should be, the country should have already been a third world country. and maybe it should.. who knows how many other fucking worthless trash there are out there like you, seriously?

[WKaliberr]

@spyletu what the fuck are you talking about? are you insulted because I have exposed your boy Paul for what he is, a nutter?

[JacobR248]

@WKaliberr

0/10



[noyouaintgettingit]

@WKaliberr youtube.com/watch?v=B7jyYpYgOe­E

Wait and see. Liberty will prevail.

[WKaliberr]

@noyouaintgettingit if he EVER becomes president I will jump off a building

HE WILL NEVER BE PRESIDENT

because he is a nutcase

[noyouaintgettingit]

@WKaliberr explain how wanting to end the federal reserve makes someone a nutcase? Explain how wanting to put control of the issuance of currency back into the hands of congress is crazy. Explain yourself

[noyouaintgettingit]

@WKaliberr Explain how ending fractional reserve lending is "crazy" please. Please explain how thats "nuts" - Please explain how ending interest based central banking is crazy? Please?

[noyouaintgettingit]

@WKaliberr He WILL be president in 2012 along with a sound, LIBERTY MINDED vice president I'm sure.

[noyouaintgettingit]

@WKaliberr Please tell me why you want more government nosing around in your personal life for petty issues? Please tell me why you want the government to suspend the writ of habeus corpus, please explain why you want higher taxes, please explain why you want a federal reserve, please explain why you want to keep an anticarcinogen like cannabis illegal, please, explain your stance and we'll debate.

[noyouaintgettingit]

@WKaliberr Ron Paul is a modern day Thomas Jefferson.

[myhipsi]

@WKaliberr

and you're a troll.

[abirch300]

@WKaliberr Why is that? Can you make an intelligent argumenta against his logic?  Or only call silly names?

[blueridger28]

@WKaliberr ??????????? I guess its also nuts to want to pull out of a war we cant win while at the same time that war is costing billions of dollars every year and sticking the people with a bill they cant afford and finaly bankrupting the country

[thid1]

Ron Paul is the ONLY one speaking the truth...

I thank the gentleman, too.

[sharinganclan213]

go get em tiger....er ron.

[NIK4EVA]

22% and climbing.

Great Depression 2.0

[iannetta11]

RON PAUL 2012 !!!

[guitarland]

Great examples Dr. Paul, however you are talking to government employees who have never help a real job or balanced a check book.

[arcanekrusader]

Real GDP has been pretty static for a decade.

[thatcrazypiranhaguy]

keep em honest Dr. Paul

[truthislibertyus]

22%= Great Depression 2.0!

[iwillspyonyou]

RON PAUL 2012 !

[whippoorwillss]

@iwillspyonyou I've got the bumber sticker. Do you?

[iwillspyonyou]

@whippoorwillss

I've got the t-shirt !

[holidayhouse03]

@iwillspyonyou

i've got the car plates RP 2012

[eragon2121]

@whippoorwillss Where do you get em?

[whippoorwillss]

@eragon2121 I googled Ron Paul 2012 bumber sticker. And just picked a one out.

[wcarlpdrysdale]

@whippoorwillss

Wanna see me drive a Ron Paul bumper-sticker in to a water spout? watch?v=LVX1SXq_Etc

Nothing can stop the Ron Paul machine!

[TheVampirella]

Ron Paul rocks!