Ron Paul says US should declare bankruptcy

Last month Rep. Ron Paul (R-TX) told Iowa radio host Jan Mickelson that the fix for the US debt crisis is to default on its debts as a way to save $1.7 trillion in interest payments -- effectively filing for bankruptcy -- and advance bond investments. Of course he also mentioned that we, like Greece, could see rioting in the streets by people losing their federal entitlements. "We're not immune from that," the 2012 GOP Presidential Candidate told Mickelson.