1 Boring Old Man

Rep. Ron Paul expected to lead House in Federal Reserve oversight
Reuters
November 6th, 2010

Republican Representative Ron Paul on Thursday said he will push to examine the Federal Reserve’s monetary policy decisions if he takes control of the congressional subcommittee that oversees the central bank as expected in January. "I think they’re way too independent. They just shouldn’t have this power," Paul, a longtime Fed critic, said in an interview with Reuters. "Up until recently it has been modest but now it’s totally out of control."

Paul is currently the top Republican on the House of Representatives subcommittee that oversees domestic monetary policy, and is likely to head the panel when Republicans take control of the chamber in January. That could create a giant headache for the Fed, which earlier this year fended off an effort headed by Paul to open up its internal deliberations on interest rates and monetary easing to congressional scrutiny. Paul, who has written a book called "End the Fed," has been a fierce critic of the central bank’s efforts to boost the economy through monetary policy…

^{Paul has been described as conservative, Constitutionalist, and libertarian. His nickname "Dr. No" reflects both his medical degree and his insistence that he will "never vote for legislation unless the proposed measure is expressly authorized by the Constitution." One scoring method published in the American Journal of Political Science found Paul the most conservative of all 3,320 members of Congress from 1937 to 2002. Paul’s foreign policy of nonintervention made him the only 2008 Republican presidential candidate to have voted against the Iraq War Resolution in 2002. He advocates withdrawal from the United Nations and the North Atlantic Treaty Organization for reasons of maintaining strong national sovereignty.[161] He supports free trade, rejecting membership in the North American Free Trade Agreement [NAFTA] and the World Trade Organization as "managed trade". He supports tighter border security and opposes welfare for illegal aliens, birthright citizenship and amnesty; he voted for the Secure Fence Act of 2006. He voted for the Authorization for Use of Military Force Against Terrorists in response to the September 11, 2001, attacks, but suggested war alternatives such as authorizing the president to grant Letters of Marque and Reprisal targeting specific terrorists.}

^{Paul adheres deeply to Austrian school economics; he has authored six books on the subject, and displays pictures of Austrian school economists Friedrich Hayek, Murray Rothbard, and Ludwig von Mises [as well as of Grover Cleveland] on his office wall. He regularly votes against almost all proposals for new government spending, initiatives, or taxes; he cast two thirds of all the lone negative votes in the House during a 1995–1997 period. He has pledged never to raise taxes and states he has never voted to approve a budget deficit. Paul believes that the country could abolish the individual income tax by scaling back federal spending to its fiscal year 2000 levels; financing government operations would primarily come through the corporate income tax, excise taxes and tariffs. He supports eliminating most federal government agencies, calling them unnecessary bureaucracies. Paul also believes the longterm erosion of the U.S. dollar’s purchasing power through inflation is attributable to its lack of any commodity backing. However, Paul does not support a complete return to a gold standard, instead preferring to legitimize gold and silver as legal tender and to remove the sales tax on them. He also advocates gradual elimination of the Federal Reserve System.}

^{Paul supports constitutional rights, such as the right to keep and bear arms, and habeas corpus for political detainees. He opposes the Patriot Act, federal use of torture, presidential autonomy, a national ID card, domestic surveillance, and the draft. Citing the Ninth and Tenth Amendments, Paul advocates states’ rights to decide how to regulate social matters not directly found in the Constitution. Paul calls himself "strongly pro-life", "an unshakable foe of abortion", and believes regulation or ban on medical decisions about maternal or fetal health is "best handled at the state level". He says his years as an obstetrician led him to believe life begins at conception; his pro-life legislation, like the Sanctity of Life Act, is intended to negate Roe v. Wade and to get "the federal government completely out of the business of regulating state matters." Paul also believes that the federal government has no constitutional authority to interfere in the religious affairs of its citizens or of the several states: "In case after case, the Supreme Court has used the infamous ‘separation of church and state’ metaphor to uphold court decisions that allow the federal government to intrude upon and deprive citizens of their religious liberty."}

^{He opposes federal regulation of the death penalty, of education, and of marriage, and supports revising the military’s "don’t ask, don’t tell" policy to focus on disruptive sexual behavior (whether heterosexual or homosexual). As a free-market environmentalist, he asserts private property rights in relation to environmental protection and pollution prevention. He also opposes the federal War on Drugs, and thinks the states should decide whether to regulate or deregulate drugs such as medical marijuana. Paul pushes to eliminate federal involvement in and management of health care, which he argues would allow prices to drop due to the fundamental dynamics of a free market. He is an outspoken proponent for increased ballot access for 3rd party candidates and numerous election law reforms which he believes would allow more voter control. Ron Paul has also stated that “The government shouldn’t be in the medical business." He is also opposed to government flu inoculation programs. Paul takes a critical view of the Civil Rights Act of 1964, arguing that it was unconstitutional and did not improve race relations.}