The roar of Ron Paul: Five of his unorthodox views on the economy
Ron Paul, the Texas congressman who is expected to announce an official "exploratory committee" for a presidential run Tuesday, is known for his passionate espousal of free markets and sound money. To supporters, Congressman Paul has stood as a lone voice of reason in Congress, wiser than Wall Street. Critics see his views on issues like reviving a gold standard or ending the Federal Reserve as simplistic and more dangerous than the ills he hopes to cure.
Here are his own words on key economic issues:
1. Federal budget deficits
From a statement released by Ron Paul on April 25, 2011:
"Last week the financial markets were roiled by Standard & Poor’s announcement that they will change their outlook on the fiscal health of the United States over the next two years from 'stable' to 'negative'....
"Even the most conservative budget that has been proposed by Republican leadership requires raising the debt ceiling by an additional $9 trillion by 2021. This demonstrates absolutely that no one in power right now has any real intention of addressing our spending problems or paying down the debt. They simply expect to continue to borrow and run up more debt forever, without limit.
"Yet they always imagine our dollar will have value no matter how many we print. This expectation is foolish and naïve. I guarantee that those buying our debt are not foolish and naïve enough to go along with this charade forever."