Tags: ron | paul | obama | economics

Ron Paul: Obama 'Goal' Is Economic Collapse

Wednesday, 24 Jun 2009 03:08 PM

By Rick Pedraza

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U.S. Rep. Ron Paul, R-Texas, says he was dismayed that Congress passed the war supplemental appropriations bill so easily last week.

“An economic collapse seems to be the goal of Congress and this administration,” Paul said during his weekly radio address Monday.

“Washington spends with impunity, domestically bailing and nationalizing basically everything they can get their hands on,” Paul said.

Mocking the idea that Obama was a “peace candidate,” Paul pointed out that hisadministration will be sending another $106 billion it doesn't have "to continue the bloodshed in Afghanistan and Iraq without a hint of a plan to bring American troops home."

Paul noted that many of his congressional colleagues who previously voted with him in opposition to every war supplemental request under the Bush administration seem to have changed their tune. He maintains that a vote to fund the war is a vote in favor of the war.

“Congress exercises its constitutional prerogatives through the power of the purse,” Paul said. “As long as Congress continues to enable these dangerous interventions abroad, there is no end in sight: that is until we face total economic collapse.”

Paul noted that, as Americans struggle through the worst economic downturn since the Great Depression, the foreign aid and International Monetary Fund appropriations in the spending bill passed last week can be called an international bailout:

The emergency supplemental appropriations bill sends:

  • $660 million to Gaza

  • $555 million to Israel

  • $310 million to Egypt

  • $300 million to Jordan

  • $420 million to Mexico

  • $889 million to the United Nations for so-called “peace-keeping” missions

  • $1 billion overseas to address the global financial crisis outside U.S. borders

  • $8 billion to address a potential pandemic flu, which he said could result in mandatory vaccinations “for no discernable reason other than to enrich the pharmaceutical companies.”

    Perhaps most outrageous, Paul said, is the $108 billion loan guarantee to the IMF.

    “These new loan guarantees will allow that destructive organization to continue spending taxpayer money to prop up corrupt leaders and promote harmful economic policies overseas. Not only does sending American taxpayer money to the IMF hurt citizens here, evidence shows that it even hurts those it pretends to help.”

    Paul said that IMF loans require policy changes called “structural adjustment” programs, which amount to “forced Keynesianism.”

    “This is the very fantasy-infused economic model that has brought our own country to its knees,” Paul said, “and IMF loans act as the Trojan horse to inflict it on others."

    Leaders in recipient nations tend to become more concerned with the wishes of international needs than the needs of their own people, he said.

    “Argentina and Kenya are just two examples of countries that followed IMF mandates right off a cliff. The IMF frequently recommends currency devaluations to poorer nations, which has wiped out the already impoverished over and over.”

    Paul noted a long list of brutal dictators the IMF happily supported and propped up with loans that left their oppressed populaces with staggering amounts of debt with no economic progress to show for it.

    The continued presence of U.S. forces in Iraq and Afghanistan does not make America safer at home but, in fact, undermines national security, he said.

    “We are buying nothing but evil and global oppression by sending [our] taxpayer dollars to the IMF — not to mention there is no constitutional authority to do so.”

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