Rand Paul on The Economy

Summary

Rand Paul has stated that he opposes both TARP and the stimulus. He opposes the notion that printing money for people to purchase things as stimulus does not build the wealth of a nation.

Opposition the stimulus

At a Kentucky chamber of commerce debate, Dr. Paul discussed what (in his opinion) is the myth that government can create jobs.

Opposition to TARP, Stimulus, and Inflation

In an August 2009 appearance on CNN, Rand Paul spoke about his opposition to TARP, the stimulus, and how it leads to inflation.

Courier-journal

In 2010, the Courier-journal asked the Senate candidates a series of questions. When asked about bailouts, Rand Paul responded in the following way.

What would you do to speed the economic recovery and produce jobs needed to put Americans to work?

Rand Paul: America is the greatest, wealthiest nation mankind has ever know. I trust the American people, working through a system of free enterprise and capitalism, to fix our problems, not Big Government and Washington bureaucrats.
I know that small business is the engine of American prosperity and will fight to lower taxes and burdensome, job killing regulation.

I oppose all federal bailouts of private industry. He strongly criticized the $700 billion bank bailout, AIG bailouts, and auto bailouts, as well as the trillions of dollars the Federal Reserve have printed to fund the subsidization of bad business.
I will vote to oppose any and all federal bailouts. Instead, he will fight to balance the budget, pay down national debt, restore the value of the Dollar, and allow the responsible to replace the reckless in the marketplace. America is the land of opportunity, to succeed and to fail. It’s time our government starts promoting responsibility.

Campaign Website Statements

Dr. Paul opposes all federal bailouts of private industry. America is the land of opportunity, to succeed and to fail. It’s time our government starts promoting responsibility

Federal bailouts reward inefficient and corrupt management, rob taxpayers, hurt smaller and more responsible private firms, exacerbate our budget problems, explode national debt, and destroy our US Dollar. Even more importantly, any bailout of private industry is in direct violation of the constitution. It is a transfer of wealth from those who have earned to those who have squandered. The federal government has overstepped its enumerated powers as stipulated in the supreme law of the land.
Dr. Paul opposes all federal bailouts of private industry. He strongly criticized the $700 billion bank bailout, AIG bailouts, and auto bailouts, as well as the trillions of dollars the Federal Reserve have printed to fund the subsidization of bad business.

Rand Paul would vote to oppose any and all federal bailouts. Instead, he will fight to balance the budget, pay down national debt, restore the value of the Dollar, and allow the responsible to replace the reckless in the marketplace. America is the land of opportunity, to succeed and to fail. It’s time our government starts promoting responsibility.

Sponsored and Cosponsored Legislation

Session-112; Bill Number-S 18; Small Business Paperwork Mandate Elimination Act - Cosponsor

Amends the Internal Revenue Code to repeal a provision (added by the Patient Protection and Affordable Care Act) that extends to corporations that are not tax-exempt the requirement to report payments of $600 or more. Rescinds $39 billion of appropriated but unobligated discretionary funds. Exempts unobligated funds of the Department of Defense (DOD) or the Department of Veterans Affairs (VA). Requires the Director of the Office of Management and Budget (OMB) to determine and identify from which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.

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