"Associated Builders And Contractors Of Kentucky Will Be Endorsing Senator Williams [For Governor]".
Paul discusses debt ceiling
Senator also talks about need for smaller government at Friday’s Associated Builders and Contractors event
By ANDREW ROBINSON
Before speaking, Paul met with attendees. He said he was asked about the issues with raising the debt ceiling, currently at about $14.3 trillion, according to Bloomberg.
“I don’t think it’s a good idea to default,” Paul said. “You don’t necessarily have to raise the debt ceiling. They try to make it an either-or situation. Either you raise the debt ceiling or we scare everybody to death and there’s a financial Armageddon, and the markets collapse and it’s a disaster.”
According to Bloomberg, last month Treasury Secretary Timothy Geithner said the U.S. could borrow until Aug. 2, three weeks longer than originally expected.
Paul said it doesn’t make any sense if you think about it.
He said the U.S. brings in $200 billion a month in revenue and the interest payment on the debt is between $20 million and $30 million a month.
“There’s absolutely no reason we should default if we don’t raise the debt ceiling,” Paul said.
Paul said that ultimately the debt ceiling may have to be raised and that he’s willing to vote to raise it to a certain extent if a couple of things are done.
Paul was a bit vague, but said he is working with Sens. Mike Lee, R-Utah, and Jim DeMint, R-S.C., to create a pledge to “cut, cap and balance,” adding that significant cuts have to be made.
Paul said he expects the pledge to be introduced in the next couple of weeks.
He also told the crowd he believes the Obama administration may be one of the most anti-business administrations Paul has seen in his life, and said the government can’t continue to borrow for another decade or 15 years at a trillion dollars a year.
“You will have to agree you don’t want all the government programs,” Paul said. “You will have to agree people will have to take care of themselves, families will have to take care of themselves. The states will have to have more responsibility and the federal government with less responsibility.
“It can be done.”
Paul added that he believes the White House thinks government is the answer.
Paul was also questioned by an attendee about Kentucky becoming a right-to-work state, making it so agreements between labor unions and employers as a condition of employment can’t exist.
Paul said he believes Williams, the state Senate president from Burkesville, will run in support of a right-to-work state and compare Kentucky to Tennessee.
“Tennessee cleans our clock,” Paul said. “They really do. It’s impossible to compete with a state that has no personal income tax and is right-to-work.”
Tim Hunt, chairman of the board for Associated Builders and Contractors of Kentuckiana, said he believes Williams has an uphill battle, but not a battle that is insurmountable. Hunt is employed by Koetter Construction in Louisville.
“Associated Builders and Contractors of Kentucky will be endorsing Senator Williams,” Hunt said. “He is step and step with our process and we’re going to have to work real hard for him.”
Senator also talks about need for smaller government at Friday’s Associated Builders and Contractors event
By ANDREW ROBINSON
Before speaking, Paul met with attendees. He said he was asked about the issues with raising the debt ceiling, currently at about $14.3 trillion, according to Bloomberg.
“I don’t think it’s a good idea to default,” Paul said. “You don’t necessarily have to raise the debt ceiling. They try to make it an either-or situation. Either you raise the debt ceiling or we scare everybody to death and there’s a financial Armageddon, and the markets collapse and it’s a disaster.”
According to Bloomberg, last month Treasury Secretary Timothy Geithner said the U.S. could borrow until Aug. 2, three weeks longer than originally expected.
Paul said it doesn’t make any sense if you think about it.
He said the U.S. brings in $200 billion a month in revenue and the interest payment on the debt is between $20 million and $30 million a month.
“There’s absolutely no reason we should default if we don’t raise the debt ceiling,” Paul said.
Paul said that ultimately the debt ceiling may have to be raised and that he’s willing to vote to raise it to a certain extent if a couple of things are done.
Paul was a bit vague, but said he is working with Sens. Mike Lee, R-Utah, and Jim DeMint, R-S.C., to create a pledge to “cut, cap and balance,” adding that significant cuts have to be made.
Paul said he expects the pledge to be introduced in the next couple of weeks.
He also told the crowd he believes the Obama administration may be one of the most anti-business administrations Paul has seen in his life, and said the government can’t continue to borrow for another decade or 15 years at a trillion dollars a year.
“You will have to agree you don’t want all the government programs,” Paul said. “You will have to agree people will have to take care of themselves, families will have to take care of themselves. The states will have to have more responsibility and the federal government with less responsibility.
“It can be done.”
Paul added that he believes the White House thinks government is the answer.
Paul was also questioned by an attendee about Kentucky becoming a right-to-work state, making it so agreements between labor unions and employers as a condition of employment can’t exist.
Paul said he believes Williams, the state Senate president from Burkesville, will run in support of a right-to-work state and compare Kentucky to Tennessee.
“Tennessee cleans our clock,” Paul said. “They really do. It’s impossible to compete with a state that has no personal income tax and is right-to-work.”
Tim Hunt, chairman of the board for Associated Builders and Contractors of Kentuckiana, said he believes Williams has an uphill battle, but not a battle that is insurmountable. Hunt is employed by Koetter Construction in Louisville.
“Associated Builders and Contractors of Kentucky will be endorsing Senator Williams,” Hunt said. “He is step and step with our process and we’re going to have to work real hard for him.”
Labels: David Williams, Endorsement, Richie Farmer
posted by KYJurisDoctor at 8:08 AM
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