When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans.
Ron PaulAs bank customers, we tend to believe that we can have both perfect security for our money, drawing on it whenever we want and never expecting it not to be there, while still earning a regular rate of return. In a true free market, however, there tends to be a tradeoff: you can enjoy a money warehouse or you can hope for a return on your investment. You can't usually have both. The Fed, however, by backing up this fractional-reserve system with a promise of endless bailouts and money creation, attempts to keep the illusion going.
Ron PaulWe have a lot of goodness in this country. And we should promote it, but never through the barrel of a gun. We should do it by setting good standards, motivating people and have them want to emulate us. But you can't enforce our goodness, like the neocons preach, with an armed force. It doesn't work.
Ron Paul