Paul Joseph Watson
Monday, November 9, 2009
If the Obama administration keeps its promise in guaranteeing not to raise taxes to pay for universal health care, the only way to cover the costs will be for the Federal Reserve to print even more money out of thin air, a process that will kill the dollar and lead to lower living standards for all Americans, warns Congressman Ron Paul.
In his weekly Texas Straight Talk telephone update, Dr. Paul said that Saturday night’s passage of the health care bill in Congress will lead to a further devastation of the American economy and the greenback.
The Congressman highlights the fact that the health care reform package is already twice as expensive as originally forecast and that estimates of past health care spending programs have been off by as much as 100 per cent, “So there is no telling what the actual cost will be,” states Paul, adding that government intervention has always been expensive and historically has routinely led to waste, fraud and abuse.
Paul labeled the bill “completely unconstitutional” and accused Washington of “torturing the numbers” rather than facing the truth and warned, “If health care reform does indeed pass, we should not be under the illusion that it will be free, they will have to get the money from somewhere.”
Dismissing claims that the government will get the money from cutting wage fraud and abuse, noting that this was intrinsic to government programs, Paul said that if the administration doesn’t raise taxes and premiums, “This can only then put more pressure on the Fed to print the money out of thin air,” resulting in an even greater acceleration in the weakening of the dollar.
“This new monumental pressure could very well be the straw that will break the dollar’s back,” warns Paul.
“Foreign creditors are already nervous about continuing to invest in the U.S. because of our skyrocketing debt – the explosion of debt that is certain to accompany the enactment of this national health care bill can only add to that nervousness,” said the Congressman.
Paul concluded by warning that a government takeover of health care will take a flawed system and make it “immeasurably worse”.
Listen to Dr. Paul’s comments via the You Tube clip below.