Patriot,

By its own admission, the U.S. Senate is actively feeding what it
just last month declared a "national security threat" -- our
national debt.

As I noted in my newest column (read it below), just after
declaring the debt to be a national security threat, the Senate
voted to pass another record-breaking budget, full of
outrageously frivolous spending.

It just goes to show how unserious our leaders are about the
crises our country faces.

In fact, a number of these crises are going to be decided in
Congress in the next few weeks.

As I note in the column, the easiest way to rein in the debt
would be to cut back on militarism and forgoing interventionism.
But we know congressional "leadership" is planning to push
another glut of this type of spending when they return to work
next week and plan to put forth a $90-plus MILLION spending bill
for Ukraine, Israel, and Taiwan.

Read the column below, and if you support our mission to rein in
the spending and overseas adventurism, please support Campaign
for Liberty with a contribution to help our mobilization in the
battle to come.
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For Liberty,

Ron Paul
Chairman

The Senate Calls Out-of-Control Spending a National Security
Threat, Keeps Spending Anyway.

Last month, the U.S. Senate passed a resolution saying the over
34 trillion dollars (and growing) national debt threatens
national security.

A few days later, a bipartisan majority of the Senate voted for a
1.2 trillion dollars spending bill.

In addition to the usual increases in war and welfare spending,
the bill funds gender transitioning for minors without parental
consent and red flag laws, which allow law enforcement to seize
an individual's firearms without due process.

Before passage of the latest spending bill, the Congressional
Budget Orifice (CBO) released a report predicting that the
national debt would exceed the prior record of 106.4 percent of
gross domestic product (GDP) by 2028. Interest payments on the
national debt are estimated to reach 870 billion dollars this
year, more than the government will spend on the military. The
CBO estimates that, unless Congress cuts spending (which is
highly unlikely), by 2051 interest on the debt will exceed not
just military spending but spending on the two biggest items in
the federal budget - Social Security and Medicare.

As Eric Boehm of Reason magazine points out, the CBO report
understates how much federal spending will grow in the next
several decades since it cannot predict what "crises" future
congresses and presidents will exploit to ramp up federal
spending. As Boehm suggests, someone projecting 30 years ago how
much government would spend in the future would not have included
the increase in spending due to 9/11, the subsequent creation of
a homeland security-industrial complex, the "forever" wars in
Afghanistan and Iraqi, the housing meltdown, or the covid
lockdown.

The hypothetical budget projection would also not have predicted
legislation like the Medicare prescription drug benefit or
Obamacare.

The large and growing interest on the national debt puts pressure
on the Federal Reserve to keep interest rates low. The Federal
Reserve's rate increases, though relatively small, are one reason
national debt payments rose by 32 percent since last year. The
need for the Federal Reserve to keep interest rates low will
further erode the dollar's purchasing power, subjecting more
Americans to the insidious inflation tax.

It will eventually cause a loss of the dollar's world reserve
currency status. This will result in a major economic meltdown
that will likely lead to widespread civil unrest, the further
growth of authoritarian movements on both the left and right, and
new restrictions on liberty.

The only way out of this is for Congress to begin winding down
the welfare-warfare state. A good place to start is by cutting
spending on militarism and forgoing interventionism. Savings from
these cuts could be used to ensure those dependent on entitlement
and welfare programs are not harmed as Congress winds down these
programs.

Responsibility for providing support for the truly needy should
be returned to local and religious charitable institutions, while
responsibility for education should be returned to local
communities and parents. Congress should also pass legislation
requiring any new spending to be offset by cuts in other federal
spending and forbidding the Federal Reserve from purchasing
federal debt instruments.

These steps will be opposed by the special interests that benefit
from the current system, but they are the only way to ensure the
blessings of liberty and prosperity to our posterity.
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If you would like to make a donation by mail, please send your
check to Campaign for Liberty, PO Box 104, Lake Jackson TX 77566
or you can call 703-865-7162.

The mission of Campaign for Liberty is to promote and defend the
great American principles of individual liberty, constitutional
government, sound money, free markets, and a constitutional
foreign policy, by means of education, issue advocacy, and
grassroots mobilization.

© Campaign for Liberty, 2012. Paid for by Campaign for Liberty
and not authorized by any candidate or candidate's committee.

Because of Campaign For Liberty's tax-exempt status under IRC
Sec. 501(C)(4) and its state and federal legislative activities,
contributions are not tax deductible as charitable contributions
(IRC § 170) or as business deductions (IRC §
162(e)(1)).

www.CampaignForLiberty.org


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