Your back, you scratch mine and we spend the money. But as a consequence were borrowing a Million Dollars a minute. I think we need to be very aware of where we are situated as a country. I think we need to be very aware of the consequences of continuing to borrow a Million Dollars a minute. I think as we go forward we have to understand what the founders intended for our country. We need to understand where our richness, where our greatness came from. Were the richest, greatest, most humanitarian country ever known in the history of man. In 2014 alone we gave away privately, through charity, nearly 3 400 billion. That doesnt happen in cuba, they dont make wealth. If you want to know why we won the cold war, we beat russia and all of communism because the engine of capitalism defeated the engine of communism. Because we produce great wealth is why we were able to defeat the soviet union. If you dont know how wealth is created and you dont realize where wealth come from, if we dont realize it comes from freedom and small government, low taxes and less regulation, were going to lose it. I think this is an important election in the sense that we need to understand that the problems coming from both parties. We need to understand how Foreign Policy fits in to debt. We need to understand that there can be no unlimited spending for anything. And that we are not stronger as a nation if were trying to project power from bankruptcy court. I do think that the number one threat to our National Security is our debt. I want a Strong Military. Like we said, kellys dad was in the air force for 20 years. My dad was in for five years. Her brother went to the air force academy. Shes got three in the navy right now, her nef if yphewneph. You dont have a Strong Military by simply saying, oh, were going to spend a trillion dollars more. We currently spend 600 billion in the military. Is it enough . We can debate that. But to put it in perspective, we spend as much on our military, 600 billion, as russia, plus china, plus the next eight countries. Theres a secretary of navy under reagan, john lehman, he was the youngest secretary of navy, and he was an advocate of a bigger navy. He advocated and he was one of the spokesmen for romney. I agreed what he said, we probably have to modernize and enlarge and build more ships and have more capacity. But he said, do you know what, the way we pay for it, and romney i dont think ever said this, the way you pay for it is get rid of bureaucracy at the pentagon. Like anything else the military is like any other government. Too much bureaucracy grows. He didnt say to add on the cost, he said you have to find ways to conserve even in the pentagons budget. Im big on auditing the fed. You got to also audit the pentagon. Sometimes it takes a while to get things done in washington. Ive been working for five years to get a vote, which included sitting down with harry reid by the fire in his office 20 tim times that never worked. But i tried. But i finally am getting a vote. Its going to happen next tuesday, and if youre interested in having the fed audited, i think all of government needs to be audited, but were trying to get the fed audited, if you are interested call your senators, i dont think its exactly clear where everybody stands on it, but they all need to be called. This passed in the house overwhelmingly in a bipartisan fashion. Every republican and 100 democrats voted for this in the house. But were struggling in the senate and if it were held tomorrow it would probably lose. We have ten or 15 republicans were losing, we get about threefourths of the republicans and we dont have Many Democrats signed on at all. But if people will call, i think we have a chance. They have enormous power and we need to know what theyre doing. As we move forward in this primary, and were getting close, as you make your decision, you have to decide are you happy with the status quo. Are you wanting someone who will simply govern over the status quo. Do you think we can survive the status quo where we worry a Million Dollars a minute. My prediction is virtually everyone on the republican side will continue the status quo. The democrats as well. Because everybody has their sort of sacred cow that they want to spend money on and theyre not aware of the problem enough to say, weve got to turn, weve got to correct our ways. I want to be the candidate who will change the direction of the country. I want to be the candidate who will give you back your freedom. Give you back your liberty. Make government so small that it doesnt get in our way. So small you can barely see it. So small that what it does are the essential functions of our country and thats to defend our country, preserve justice, thats who i want to be and i hope you want to join that movement. Thank you very much. Thank you. Thank you. Thank you. Thank you. And now were happy to take some questions as long as theyre easy questions. Senator . Yes. Yes, sir. In light of the relatively [ inaudible ] what role do you perceive for the United Nations in maintaining world peace . Im not real excited about giving up sovereignty to international groups. I think if you dont like what im doing, you unelect me. If someone at the u. N. You dont like what theyre doing, you dont have a chance to unelect them. So, when we set up our country, we didnt really set up a country where we were supposed to give power to them. Im not against having an International Body where we have a body thats able to us and and we have a place of i guess worldwide diplomacy that comes together in one area. But i am concerned about giving up autonomy from us to them without it being approved by your congress. I think that Congress Needs to take more of an active role. We sort of outsource things, you know, sort of outsource it to the u. N. , the u. N. Is going to take care of it, and i dont think theyve done necessarily a great job. Im also not a big believer of sort of u. N. Wars. Korea was fought under the United Nations. Im not sending any of our young men and women to fight with the u. N. Emblem on their helmet. It will be an American Flag or not at all. Senator, you and the other candidates have had a protracted length of time in this campaign which has required a lot of money to get a job that pays a few hundred thousand. Lots of corporations are supporting these campaigns and probably getting more than simply good favor. Im afraid influence is being bought. The canadian process, the british method, where do you stand on that . I like the way you describe it as a protracted process. I think my wife would agree with that. Its a protracted process, thats for sure. I think money is influencing government and in a bad way. I think influence is being bought. And i think influence is being peddled in government. The first thing i would say on it is the reason people purchase government is because government has too much power to affect your daily life. If you had a government like what the Founding Fathers envisioned that was very small, no one would want to buy it. No one would want to purchase politicians to get their way. If government wasnt involved in your business or involved in your daily life and did very little other than defend the country, people would actually be more interested in being a state representative than being a u. S. Congressman. In fact, in the early days of the republic many people it was much more esteemed to be in the state legislature which ill see from some of the state reps here, but than it was to be in the u. S. Congress. But i agree with you that money is as the system exists is overly influencing the situation and people are bought and sold. We have had trouble figuring out how to fix it because we do also have respect for speech in our country, and so theres been the opposition of can you restrict . We allowed some Campaign Restrictions in the 70s and they have been allowed to have some limits but now people are going around the limiting through all these other groups. What i would say is this, and i think this would pass the Supreme Court test, some of the others have not passed. What i propose is that if you do business with government, that in the contract you sign to do business with government, there should be restrictions. So, lets say i ask you to build a billion dollars worth of tanks. Thats a big contract. We may well need the tanks or boats or ships or whatever we need, we may well need them, but thats an enormous amount of money or 5 billion or 10 billion, a huge amount of money. I think voluntarily you should agree to a contract that says you will not Lobby Congress and you will not contribute to congress. Lets make it really highbrow. Were still going to need armaments and well spend money on occasion for things but lets not let you have influence on the thing and come back and lobby for it. The only way it would work, though, politically to ever pass Something Like that is, big corporations do contracting. Big unions do a lot of work for government. If both big unions and big corporations had the same contractual thing. So, if youre the union that has 20 Million People working for the federal government or working for something, youd probably have to sign the same agreement that the union is not going to be giving contributions or lobbying as well. It has to be equal between union and business. Yes. We have dismantled our maritime commerce. And today flags carrying or ships carrying American Flags are practically invisible. The commerce this country was built on has diminishedappr apprecbly because were no longer a maritime nation, what would you do to turn it around . Hem me out. What do you think is the reason taxes. On building ships. Taxes on imports, exports, taxes on the ports. The greedy people who are working and changing the rules and changing the laws. Its you know, its rather obvious whats transpired. Im for a tax system that will be much lower and simpler than what we have. Currently the corporate business tax is 35 . I would have 14. 5 . I would also have 14. 5 for individuals. It would be very simple. Youd fill it out on one card. Wed get rid of 70,000 pages of tax code and that may well help in the maritime industry as well. Im also for lowering the regulatory burden. No president should be allowed to just heap a regulation on an industry. It should have to go through congress. In fact, i have legislation which is called the reins act which says if any president is going to do it and it will affect the economy, it has to be come back and passed by congress. I think theres things we could to bring it back. When i get a question like that where i dont know the exact answer for the maritime industry, im open to saying what do we do. If youre an expert, we get you in the administration and we figure out what it is that we do. But if its taxes and the regulation thats the problem, im for lowering the burden on both. The young lady back here. Say again. I saw the movie the big short recently the 2008 financial crisis. When i walked out of that movie my feeling was it was the lack of government oversight and the lack of government regulation that put us in that problem. When people complain about government oversight, the s. E. C. Was missing in action, glass steagall was repealed and the bankers on wall street who will tell you theyre assuming the risk so why should they be penalized, we were all left holding the bag. I mean, i want dodd frank made stronger and not weaker. I dont want my tax dollars to bail out the Banking Industry ever again. I think there does need to be more oversight and regulation particularly of government banks which i think were a big part of this. The Federal Reserve i think was the key progenitor of the problem we almost had in 2008. It didnt just happen in 2007 and 8. It built for quite a while. If you look at the average home price for 1930 it is doing this and 2003, 2005, 2007, its going almost straight up. Thats absurd. And it never happens in capitalism. Never happens in unregulated free markets. Because what happens in capitalism is interest which is the price of money should fluctuate like the price of bread. And so it sends a signal. So, if im building houses in exeter and theyre ten House Builders in 2003 and then there are 20 of us in 2004, and then there are 30 of us in 2005, and everybodys buildi ining houses everybodys competing for the money to borrow to build houses and homeowners to own them. What should happen to the price of the money . The price of the money should rise. And as the price of the money rises, Interest Rates rises, what should happen . Slows the economy down. This is the cycle of the economy that happens naturally under capitalism. Interest rates are the most Important Information that is disseminated throughout the entire economy. As a physician i liken it to insulin. When you eat a meal, your blood sugar rises and insulin rises after it and you get a cyclical effect. In medicine we call it homeostay s homeostasis, its an important debate, was this too much government or too little government. Was this too much manipulation of government on Interest Rates or too little. Now i would agree with you to a certain extent on glass steagall and things that allowed the the reason i agree, though, is not just as a simple regulation that when you allow banks to do investment banking, but you tell the taxpayer that were responsible for them being bailed out, that is a problem. The whole concept of too big to fail is a problem. Its still there. We passed dodd frank but it hasnt fixed the problem. But heres the counterintuitive part of dodd frank, we added a lot of regulations, but it was only on the big banks, and we need to make sure theyre safer so they dont fail and drag us all down. The Bank Regulators are now applying the big banks to the small banks. So if you have a Small Community bank in exeter, they may be struggling with all the regulations and its more expensive for a single bank to comply with regulations than it is jpmorgan. So what happens . The big banks swoop in and buy the small banks and all of a sudden the problem we were trying to fix counterintuitively the big banks are still getting bigger. I think one thing we should do to Something Like glass steagall. I wouldnt do it the old way. What i would do is if you have a big bank i will tell you we have taxpayer shoontion, fdic insures your deposits. What i would say is that were going to insure your deposits but well only do it if you have a division of your bank. So, you will only get it, and then maybe if youre a depositor at a big bank, if you dont have insurance, i wont deposit with you, okay, well have to separate our banks. Its a way of doing glass steagall. But i think theres a way of more strictly structuring it. There also needs to be a plan of bankruptcy for big banks. So when the big bank comes up tomorrow and everybody scares you to death heres the thing, the people say they have to bail out the big banks are the same people that didnt predict the big banks would have a problem and the same people that didnt think it was a problem having zero Interest Rates for ten years and these same people tell you, oh, you got to bail out the big bank and heres the middleclass we get all stuck with the bill. But if you have a gas station in exeter or a restaurant, you go bankrupt, nobody is going to bail out you, so its an unfair system. Its complicated exactly what the answer is, but i do agree with you that some form and i dont think weve i dont think were there yet. I think something more has to be done about too big to fail. I think it still exists. The problem is some of our regulations i think have made the banks even bigger. Not on purpose, but as an inadvertent result of some of the regulations. But i do agree with you more has to be done and im still trying to figure out with others if we can try to get something done about it. Yes . Banks are more dangerous than standing armies so give people the power to create money out of thin air and they control the world. How do you take that power away . Government issue for currency for debts foreign and domestic . Originally when the constitution was written, they said that it had to be of gold and silver. Thats all they mention. They do mention it explicitly in the constitution. We kind of got away from that and we have a Paper Currency. For a while the Paper Currency was exchangeable with gold and silver. And then for a while we said, well, the kunkssy currency is the full faith and credit of the federal government. As a government becomes less and less transparent and less and less honest with its books, it becomes more and more worrisome. The joke i have now is that once upon a time your dollar was backed by gold. Now your dollars backed by used car loans and bad home loans. Theres some truth to this. In 2008 when we had this big crisis, the fed bought 4 trillion worth of assets and assets are good, right . Assets are like bad home loans, thats an asset. Some people argue that the price of houses or home mortgages that the fed owns may not have been mark to market. They may not yet have gone to their bottom value. There is some danger that we still live in a real estate bubble. Weve come back in many ways people are building again. It seems to be more healthy. But we still have virtually zero Interest Rates and we have all of this stuff the fed owns. The fed owns so much stuff, trillions and trillions of dollars, theyre afraid to sell it. Theyre afraid to tank the Real Estate Market again. Theyre afraid to sell it because then we know what its actual value is at that point in time. So, i am with you. Some have argued that what we should allow is legalizing competition. Other currencies. And i think theres a possibility some of that occurs over time. I dont know if i have the ultimate answer other th