Ron Paul : Big deal won’t get done

Rep. Ron Paul (R-Texas) said Tuesday that there is probably a zero percent chance of congressional leaders reaching a grand bargain on the looming fiscal cliff.

Asked on Bloomberg Televistion whether he thinks theres a chance for grand bargain, the former GOP presidential candidate said: Probably zero.

Paul said Congress can delay fiscal decisions in January.

They can postpone big decisions in January and yet that still does not remove the uncertainty, Paul said. Uncertainty is a major cause of the inability for the market to get moving again and they have to revamp it in a much more detailed fashion than they are even talking about right now.

Paul said that any deal that Congress and President Barack Obama agree on will be very temporary.

I think there will be something, but it will be very temporary, it wont be long lasting and restore confidence and fix the problem, Paul said. But there will be some type of reconciliation of saying well do this and a little of that and it may even help the financial markets for a little while, but since it wont solve the problems it will only be temporary.

Last week, Paul told Bloomberg Television that the country had already fallen off the fiscal cliff.

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Ron Paul : Big deal won't get done