bobbyw24
01-11-2010, 06:30 AM
WASHINGTON — For three decades, Texas congressman and former presidential candidate Ron Paul's extreme brand of libertarian economics consigned him to the far fringes, even among conservatives. More than a few times, his views put him on the losing end of 434-1 votes on Capitol Hill. No longer.
http://seattletimes.nwsource.com/ABPub/2010/01/09/2010754101.jpg
Special to The Seattle Times
JEFF GENTNER / AP
Rep. Ron Paul, R-Texas, unsuccessfully ran for president, but his anti-Fed message has drawn support because of the central bank's failure to restrain the flood of cheap money.
WASHINGTON — For three decades, Texas congressman and former presidential candidate Ron Paul's extreme brand of libertarian economics consigned him to the far fringes, even among conservatives. More than a few times, his views put him on the losing end of 434-1 votes on Capitol Hill.
No longer. With the economy still struggling and political divisions deepening, Paul's ideas are gaining a wider audience and are helping to shape a potentially historic battle over economic policy, a struggle that will affect everything including jobs, growth and the nation's place in the global economy.
Paul's long-derided proposal to give Congress supervisory power over the traditionally independent Federal Reserve appears to be on its way to becoming law. His warnings on deficits and inflation are Republican mantras.
And, with this year's congressional election campaign looming, the Texas congressman's deep-seated distrust of activist government has helped fuel protests such as the tea-party movement, harden partisan divisions in Washington, D.C., and stoke public fears about federal spending and the deficit.
"People are wondering what went wrong. And they're not happy with what the government is offering up," said James Grant, editor of Grant's Interest Rate Observer, offering an explanation for why seemingly wonkish arguments over interest-rate policy and the money supply are spilling into the lives of ordinary Americans.
http://seattletimes.nwsource.com/html/businesstechnology/2010753882_paul10.html
http://seattletimes.nwsource.com/ABPub/2010/01/09/2010754101.jpg
Special to The Seattle Times
JEFF GENTNER / AP
Rep. Ron Paul, R-Texas, unsuccessfully ran for president, but his anti-Fed message has drawn support because of the central bank's failure to restrain the flood of cheap money.
WASHINGTON — For three decades, Texas congressman and former presidential candidate Ron Paul's extreme brand of libertarian economics consigned him to the far fringes, even among conservatives. More than a few times, his views put him on the losing end of 434-1 votes on Capitol Hill.
No longer. With the economy still struggling and political divisions deepening, Paul's ideas are gaining a wider audience and are helping to shape a potentially historic battle over economic policy, a struggle that will affect everything including jobs, growth and the nation's place in the global economy.
Paul's long-derided proposal to give Congress supervisory power over the traditionally independent Federal Reserve appears to be on its way to becoming law. His warnings on deficits and inflation are Republican mantras.
And, with this year's congressional election campaign looming, the Texas congressman's deep-seated distrust of activist government has helped fuel protests such as the tea-party movement, harden partisan divisions in Washington, D.C., and stoke public fears about federal spending and the deficit.
"People are wondering what went wrong. And they're not happy with what the government is offering up," said James Grant, editor of Grant's Interest Rate Observer, offering an explanation for why seemingly wonkish arguments over interest-rate policy and the money supply are spilling into the lives of ordinary Americans.
http://seattletimes.nwsource.com/html/businesstechnology/2010753882_paul10.html