Pat Buchanan on Budget & Economy

	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 in NY Times on 2000 election , 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” on 2000 election , 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

Pass a Balanced Budget Amendment with a tax limitation provision.
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.

Source: www.GoPatGo.org/ “Issues: Small Business” , Jun 12, 1999

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