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Rep. Ron Paul on Fiscal Crisis: Eventually We’ll Have to Face Up to the Reality That America Is Broke

In discussing the looming fiscal cliff, Rep. Ron Paul didn’t mince words. During an appearance on the Fox Business Network, he said, “I don’t expect a whole lot of beneficial things to happen between now and the beginning of the year. They’re just going to pass the buck on for a little bit longer and worry about the real problems later on.”

The real issue, as outlined by Paul, “is the country is bankrupt and the economy is too weak to pay for it. Someday, we’re going to have to wake up and do some serious changes like actually cut real spending.”

He expects that Congress will postpone the inevitable until a bigger crisis comes that forces us to address the real issue. “There will be no other choice but for us to face up to the reality that we’re broke,” he said.

Read Rep. Paul's farewell address on the House floor.

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