Dallas Fed President Attacks Ron Paul

[Vessol]

"Those lawmakers who advocate "Ending the Fed" might better turn their considerable talents toward ending the fiscal debacle that has for too long run amuck within their own house. The Fed does not create government debt; fiscal authorities do. Deficits and the unfunded liabilities of Medicare and Social Security are not created by the Federal Reserve; they are the legacy of those who control the purse strings―the Congress, working with the president."

http://www.lewrockwell.com/north/north932.html

[oyarde]

"Those lawmakers who advocate "Ending the Fed" might better turn their considerable talents toward ending the fiscal debacle that has for too long run amuck within their own house. The Fed does not create government debt; fiscal authorities do. Deficits and the unfunded liabilities of Medicare and Social Security are not created by the Federal Reserve; they are the legacy of those who control the purse strings―the Congress, working with the president."

http://www.lewrockwell.com/north/north932.html

Where is this Dallas or Houston , or do they have a facility both places ?

[CoreyBowen999]

The guy from the Fed is wrong and right. Congress does need to fix its own faults, but so does the FED

[axiomata]

If RP was part of the problem in congress he might have a point.

[Vessol]

I don't see how Congress could create and sustain government debt without the Fed in the first place, that's the main problem with that statement.