Pete Stark Blows Up Over National Debt

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corperations that grow up around will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

Thomas Jefferson, 3rd President of the United States of America

Going to borrow a couple hundred BILLION? He must mean TRILLION.

Higher debt adds to wealth of country? Absurd!

Pete Stark and this video are wayyyy beyond bizarre. People need to see this video. Whether you are a liberal or conservative, this is truly scary.

goes to show ya the dems are STUPID!!!

Keep going Pete Stark. it's imbiciles like you that have put us in the position we are in. END THE FED!!!!

What an idiot. If all the amount of principal and interest were paid off there would be no currency left in the money supply. Make more debt? Debt IS money you dumb ass. He thinks as a Nation we become wealthier by creating more debt! Where does the wealth come from? I guess we call that inflation.

I am a democrat, but i still hope that Pete Stark is voted out of office, or dies!!!!

What an animal. Is this buffoon really in Washington? Instead of answering the question he constantly resorts to insults on very valid questions and takes a sardonic tone to try and hide is discomfort with the line of questioning.

oh come on. this congressman is an ass, and obviously thinks of himself as one of the elites. WHEN YOUR OUTGO EXCEEDS YOUR INCOME, YOUR DOWNFALL IS CERTAIN. It doesnt take a Phd or a Masters to figure that out.

I suppose Stark was trying to say that IF GDP growth rate would be greater than the debt growth rate, and IF our debt interest payments would still be "affordable" (whatever that % is), then debt could be justified...but he was clearly flustered, and he wouldn't be able to justify on those grounds anyway, because last time I looked, our annual debt growth rate is about 15% and our GDP growth rate is zero!

Pete stark could possibly be the most unintelligent and ignorant debater i have ever seen.