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Ron Paul: "We're So Far-Gone"

The great libertarian hope mourns. "I think people had enough of me."

Posted on November 8, 2012, at 6:13 p.m. ET

Jae C. Hong / AP

Retiring congressman Ron Paul argued on Thursday that the U.S. had already gone over the fiscal cliff and that President Obama's reelection was triggered by those on the "receiving end" of government benefits in a gloomy interview with Bloomberg TV.

Paul, whose own presidential bid ended at the Republican convention, said the situation had become irrevocable: "We're so far-gone. We're over the cliff. We cannot get enough people in congress in the next five to ten years who will do the wise things."

"Romney was hit because one issue he was correct on, he was opposed the bailouts, and the people in the Midwest voted against him. Oh, we have to be taken care of!" Paul said.

Paul, who is 77, also touched on why he is retiring: It's the whole system's fault.

I think people had enough of me. I do not have much confidence in the political system and never did. My goal has always been to change people's minds because as long as people demand more government, they will get it. Government reflects the people. That is why I am excited to go to college campuses and I will continue to do that. That's where I will get a lot of support and they are saying, I agree with you, we do not need more government, we want more freedom and we want to be able to keep our own money. We want sound money. If you have sound money coming in you do not have deficits because you cannot print more money.