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Ron Paul: Big government got us into this mess

September 25, 2008 by  

Paul says the government meddles too much in the economyRepresentative Ron Paul of Texas has placed the blame for the current economic downturn squarely on missteps taken by U.S. government.

In an exclusive column for CNN, Paul describes how government intervention in the market has resulted in artificially inflated prices that do not match consumer demand.

He criticizes the government support of Fannie Mae and Freddie Mac, as well as the Federal Reserve’s "loose monetary policy" that allowed it to manipulate interest rates, as factors that have resulted in the housing bust and subprime mortgage crisis.

Furthermore, Paul suggests that the recent bailouts and proposed $700 billion rescue scheme will only exacerbate the situation by further distorting the market and encouraging banks’ risky behavior.

"Using trillions of dollars of taxpayer money to purchase illusory short-term security, the government is actually ensuring greater instability in the financial system in the long term," he writes.

Paul, who serves on the House Committee for Financial Services, is not the only politician who has criticized government bailouts recently. In a speech, Senator John McCain said the Federal Reserve should "get back to its core business of managing our money supply and inflation."
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  • patty

    My husband and I were blogging on ABC News yesterday about Obama and all our posts have been deleted. What happened to freedom of speech. They were not mean and we did not use filthy language in the blogs we just stated some facts!!!

  • jorgaone

    The reason that transparency has been eliminated from all Government–and facts have been deleted from all media–is quite simple:
    ANYONE who has the cojones to actually state facts that are contrary or detrimental to “the One” need to be immediately shut down!
    Free speech? What’s that? Do You ever listen to Rush? Then YOU are a domestic terrorist, and at any moment–if the “government” deems it a matter of national security (you protested!) they WILL come to your house, ransack it and confiscate anything they choose, jail you–and leave you there…
    Just watch…Do you own a gun? Double jeapordy…

  • Merl Webster

    I think Ron Paul is absolutely insane!!! Does he not realize that Ameriaka, today, has the very best dictators that our money can buy????

    And not only is Ron Paul nuts……………….about 35 states either are or are considering seceeding from the uniion?????WOW!!! is everyone going insane or what??

  • sue eighmy

    I am ready for it. We want Texas to seceede. This administration is a nightmare. The states are seeing this, no wonder they are concidering seceeding.

    • American Liberal

      Sue, I couldn’t agree with you more about Texas leaving the United States of America… Please hurry…

  • Dan Pieczynski

    Ron Paul is Not Nuts. He’s a REALIST. ALL of Our Problems begin in 1913. Our Banking System is nothing more than a “United SNAKES Of America”. THEY Are Initiating The Destruction Of Our Constitution.
    PRIVATE instead of PUBLIC Control Of Our Currency Can Now Permit Money To Be Scarce or Plentiful. THEY Can Put Up and Put Down Prices.
    THEY Can Make Or Break Fortunes. ALL Real Estate, Every Growing Crop, EVERYTHING In The Market…Is At THEIR Command. THEY Can Paralize Our Country…Because THEY Control Our Currency. THEY Exhibit Power OVER Congress and The People. THEY Are At Varience With Our Liberty. AND THEY MUST BE CHALLENGED !!!

    • DeJay

      Dan ski: Our problems started the day the pilgrims landed, not 1913. COME OUT AND SAY WHOSE CONTROLLING THE WORLD, THE ELDERS OF ZION. THE U.S. IS A CORPORATION, THE STATES ITS SUBSIDIARIES. WHY DO YOU THINK THERE ARE NO RULES IN THE CONSTITUTION GOVERNING CORPORATIONS? MOST OF US DON’T KNOW ALL THAT’S GOING ON BEHIND CLOSED DOORS.

  • American Liberal

    Ron Paul has it partly correct.. Big goverment did get this country into the biggest recession since the 1930′s… It was Republican big goverment …. I’m not a goverment hater like a lot of the doom and gloomers on this site….and I don’t mind the goverment making the right moves… That’s the problem with rightwing goverments , it’s always at the expense of the middle class and average American….the tax cuts to the top 2% nearly killed our countrys economy….the top 2 % have more wealth during the last decade than ever before… While the middle class has been drained … If this trend isn’t reversed the middle class will join the dinosaurs …

    • http://www.westsideinternet.net American Conservative

      There is no such thing as Republican big government. 90 plus percent of all government employees, federal, state and local are raving lunitic socialists. The “Delayed Responce” of government to Katrina was because the Socialist moles who man and control the government agencies dragged their feet because they knew they counld use it as a slug hammer on Bush. I personally dislike bush myself, because he had no guts to confront the reality and rat the enemy out. The only people in place to cheat on the results in an election are the socialist employees of the countrys Registrar of voters are socialists and they have been doing it since FDR. The only reason they have lost any election is because they murdered 45 million democrats (abortions) and the ranks of the conservatives have been growing faster than they can import voters from Mexico. Your are right about one thing, if the socialists continue to get away with this, the middle class will join the ranks of the peasant. Socialism and monarchy are the same thing fool. They just changed the word to hide from the ignorant, like yourself. only a fool would help the socialist elite (All Billionaires!) turn him back into a peasant.

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