Recently there has been a lot of debate over whether or not the debt ceiling should be raised. President Obama originally said that the debt ceiling should not be raised, but as of lately he seems to be thinking differently. This is not unusual for Obama to say one thing, and later act in a completely opposing manner. Consistency is not one of Obama's strong point.
On the other hand, Ron Paul has demonstrated his consistency for over three decades. He has been concerned about Government spending since the 1970's. He warned that if spending continued at the rate it was going this country would end up in a financial crisis. Here we are. The national debt has increased over the past 30 years from $1 trillion dollars to $14 trillion dollars.
Ron Paul does not think the debt ceiling should be raised, but he thinks that it will be. The reason why he is opposed to raising the debt ceiling is that the problem will not be solved and it would encourage more spending. He says there are two things that will permit the Congress to continue spending money. They are raising the debt limit and not addressing that if there is too much debt the FED can monetize it.
Four years ago, in 2008, Ron Paul's ideas and views seemed radical. Many things have changed in these past years; the financial crisis he warned about is here, issues with the Federal Reserves and Foreign Policy have gotten people to open up their ears and agree with what he is talking about.
Below is a link to watch Ron Paul's Debt Ceiling warning, which was posted on May 26, 2011
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