Ron Paul criticizes bailouts, Patriot Act
December 11, 2008 by Personal Liberty News Desk
The U.S. government is headed in "the wrong direction" by giving bailout money to various groups who have asked for it, according to Representative Ron Paul.
Speaking to Newsmax, the former presidential candidate said that he opposes bailouts from both an economic and philosophical standpoint.
"I find it to be bad economics. I find it bad morally to transfer wealth from one group of people to another no matter what kind of problems they have," he told the news provider.
The politician has been an outspoken advocate for a self-correcting market, with minimal government interference.
In the interview, Paul also spoke out in favor of a gold-backed currency, which would prevent the Fed from creating money "out of thin air" with nothing to support it, a measure he claimed may destroy the dollar.
Paul’s opposition to the Patriot Act has also been widely reported – and it shows no signs of softening.
He told Newsmax that far from protecting Americans, "all it’s done is regulate people…the people are less free, but the fact that we haven’t had an attack is probably just a coincidence."