Is Congressman Ron Paul our savior?
The Republican, and libertarian, who is running for President, again, in the past few days has been floating a plan that has the potential to end the debt ceiling standoff, for now, and eliminate the growing possibility that the U.S. government could have to default on its debt, which could cause disastrous economic consequences. Even better, in Ron Paul's plan Republicans and Democrats wouldn't have to come to some compromise about taxes or spending cuts. In fact, they wouldn't even have to vote to raise the debt ceiling, at least not for a year, perhaps more. And that's not all. Paul's plan would not only solve the debt ceiling problem, it also might eliminate any harmful after shocks the Federal Reserve's QE2 program could have on the economy.
Read more: http://curiouscapitalist.blogs.time.com/2011/07/05/debt-ceiling-could-ron-pauls-plan-save-us-from-disaster-twice/#ixzz1RSIFbELY