Pat Buchanan on Budget & Economy
2000 Reform Candidate for President
Outsourcing and imports let foreigners control US economy
Foreign powers have a large control of our economy and jobs “ White-collar jobs are being outsourced [by the thousands to India and elsewhere]. The dollar is sinking. With the money we are pumping out for imports, foreigners are buying up America.
Asian nations continue to accept and hold depreciating dollars in return for their goods for two reasons: To maintain and increase their share of the US market and to continue to suck production out of the United States. This cannot go on indefinitely.
We are approaching a precipice, and the only question is when we reach it. [One analyst writes] “Should Asian central banks even temporarily lose their appetite for dollars, the United States could face a crisis not unlike the ones that afflicted the
Mexican peso in 1994 or the Thai baht in 1997.” A sinking currency represents the silent theft of a people’s wealth by their rulers. And when the currency of an imperial power sinks, there are strategic consequences. “
Source: Where the Right Went Wrong, by Pat Buchanan, p.202-4
, Sep 1, 2004
Return surplus to American people; end ‘bipartisan pig-out’
Q: How would you handle the projected surplus?
A: Given the bipartisan pig-out that is taking place up in that hog confinement on Capitol Hill where Republicans have been exceeding in spending Clinton’s request, this so-called surplus is going
to be gone, in my judgment, because Clinton raised taxes. Why? To balance the budget. Bush raised taxes. Why? To balance the budget. The budget is balanced. Unless this is some kind of scam, that money ought to be given back entirely to
the American people, the whole $2 trillion in the non-Social Security surplus. At that point if we want to do something new with it, Mr. Bush’s $700 billion and Mr. Gore’s $2 trillion in spending, go back to the American people and ask for it. Otherwise,
it’s a bait and switch. If Clinton and Bush told the American people the truth, they ought to give the so-called surplus back to the American people. If they have to raise taxes then, do it with the consent of the nation.
Source: Nader-Buchanan debate on ‘Meet the Press’
, Oct 1, 2000
Break up OPEC instead of Microsoft
Buchanan blasted OPEC for the rising price of crude oil and criticized Al Gore for proposing to tap into the nation’s strategic oil stockpile. “I think that Clinton and Gore have failed America and their failure is responsible for this energy crisis.
Instead of breaking up Microsoft let’s break up OPEC. They’ve got Europe by the throat, and here we are begging this price-rigging, criminal conspiracy to help us & increase oil. Tell the Persian Gulf countries, if they want us to defend them, Pump oil!”
Source: AP Story, NY Times
, Sep 21, 2000
Dow crash is based on OPEC conspiracy
The trillion-dollar losses suffered this year by American stockholders, reflected in the 14% plunge in the Dow, crowns with success a global conspiracy by the OPEC cartel to loot the American nation. Those stock
losses are a direct result of the tripling of the price of oil, from $10 a barrel in early 1999 to $30 today. As the US imports 10 million barrels a day, a run-up of $20 a barrel represents
a gouging of the US economy and American consumer of $200 million a day, or $73 billion a year.
Who are the co-conspirators torpedoing the stock market and gouging American consumers? Venezuela and Nigeria,
beneficiaries of billions in foreign aid. Mexico, bailed out of an economic crisis in 1994 by the US with $50 billion in loans. Kuwait, liberated by American arms. Saudi Arabia, currently defended by thousands of US soldiers and sailors.
Source: Press Release
, Mar 14, 2000
Lethal projectile-the trade deficit-aimed at US workers
September’s stunning $ 24.4 billion trade deficit is a lethal projectile bearing down on America’s superficial prosperity. According to latest figures, the American trade shortfall for September has risen a full 4% since August. These figures
exact a high human cost: Americans have lost a half million manufacturing jobs since the beginning of 1998. Meanwhile the leaders of the two Beltway parties speak in one identical voice-’full speed ahead with globalization’ no matter what price paid.
Source: GoPatGo.com “Press Releases”
, Dec 15, 1999
Pay down debt; reduce federal share of economy
We’d reduce taxes and change the tax code. First off, I do believe you keep paying down the debt. We ought to do that. We owe that to the next generation. Secondly, put more taxes on transnational corporations,
take them off small business. The federal government now spends 22% of the entire economy-that’s more than we did during the Cold War, and we’ve got to cut that down, and we would do it.
Source: Interview on MSNBC’s “Equal Time”
, Nov 2, 1999
Interventionist in US economy; isolationist abroad
Buchanan wants the government to intervene in the economy to save American jobs. He heaps scorn on free trade and foreigners alike. He wants to withdraw American troops from more or less everywhere. And if the
Chinese do not do what he wants, they will have sold “their last pair of chopsticks in the US.” Buchanan embodies a reactionary conservatism which thinks that “America First” can be achieved by shoving everyone else to the back.
Source: The Economist, p. 34
, Sep 18, 1999
Supports Balanced Budget Amendment & tax cuts
I will transform America into one vast enterprise zone by getting big government out of the way of free enterprise and unleashing the entrepreneurial genius of our small business community:
Source: www.GoPatGo.org/ “Issues: Small Business”
, Jun 12, 1999
- Pass a Balanced Budget Amendment with a tax limitation
- Eliminate the federal income tax for small businesses and put a flat tax on large corporations.
- Eliminate the capital gains tax for new risk capital.
- Eliminate inheritance taxes under $5 million.
Page last updated: Mar 14, 2014