Ron Paul on Proponents of Raising Debt Ceiling: 'I Think They're Misled'

DEBT CEILING -- July 20, 2011 at 12:35 PM EDT

Ron Paul on Proponents of Raising Debt Ceiling: 'I Think They're Misled'

In an interview Wednesday with The PBS NewsHour's Judy Woodruff, Republican presidential candidate and longtime Texas Rep. Ron Paul said "you can't solve the problem of debt by raising the debt limit."

Asked why President Obama, Democrats, most of Congress and many people in the business community are pushing an increase in the U.S. debt limit, Paul responded:

"I think they are misled. I think they believe what they are saying, but I think they don't understand economic policy because they're afraid of a default and they've been frightened," he said. "But this is the way so often government works -- they try to frighten the people."

Watch the rest of Judy's interview with Ron Paul on Wednesday's NewsHour broadcast.

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