Ron Paul: No Doubt The Government Would Bail Out States

In an interview on FOX Business Network's Varney & Co., Representative Ron Paul said that he “never doubted for a minute” that the U.S. Government would bailout the states. Mr. Paul said, “I think it has already started. The states have already received 40 billion to deal with their pension funds. Indirectly they are doing this and I think they will.” When asked about whether he will allow the Federal Reserve to buy municipal bonds to bailout states, he posited, “I wish I could say absolutely I won't allow them to do it but I am afraid your prediction might come true.” Mr. Paul said that Ben Bernanke has not been invited to appear at the hearing regarding this matter given that he is “obligated to come before our committee at least twice a year.”