We are bankrupt: Ron Paul

Ron Paul
So, as we all debate the lifting of the debt ceiling and the accompanying spending cuts the next hurdle will be the ratings agencies deliberations regarding the status of the US Dollar. Will it remain at AAA or will they find their backbones and deliver a downgrade?
One of the few politicians that makes any sense to us is Ron Paul so we thought it worthwhile to bring you this short clip where he talks about the United States being bankrupt and what needs to be done if the US is to get out of this mess. Please click this link.
Over on his web site he had this to say: “While it is good to see serious debate about our debt crisis, I cannot support the reported deal on raising the nation’s debt ceiling. I have never voted to raise the debt ceiling, and I never will.
This deal will reportedly cut spending by only slightly over $900 billion over 10 years. But we will have a $1.6 trillion deficit after this year alone, meaning those meager cuts will do nothing to solve our unsustainable spending problem. In fact, this bill will never balance the budget. Instead, it will add untold trillions of dollars to our deficit. This also assumes the cuts are real cuts and not the same old Washington smoke and mirrors game of spending less than originally projected so you can claim the difference as a ‘cut.’
In fact, this bill will never balance the budget. Instead, it will add untold trillions of dollars to our deficit. 

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