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Ron Paul Looks Out at 2011

While some possible Republican presidential hopefuls, including former Massachusetts Gov. Mitt Romney and former U.S. House Speaker Newt Gingrich, have pointed to the economy as the top concern for the new GOP majority in the U.S. House,U.S. Rep. Ron Paul of Texas noted there are many issues to focus on.

The year 2011 brings in a host of opportunities and challenges to America, noted Paul on Tuesday. Will we accelerate toward economic insolvency by continuing the policies that have created this crisis, or will a new Congress -- elected on the energy of the tea party movement -- find the courage to change course?

Paul, who ran for president in 1988 and 2008 and is mulling over making another run in 2012, stressed the importance of his new assignment heading up the House Financial Services Subcommittee on Domestic Monetary Policy.

With the new Republican majority in the House I will have the opportunity as a subcommittee chairman to take a careful look at our domestic monetary policy, continued Paul. I am excited by the prospect of real oversight of the Federal Reserve, but I also hope to focus on the important ways in which our foreign policy and monetary policy are related. Just last week the Financial Times reported that the limited oversight of the Federal Reserve allowed by the passage of a watered-down version of my audit of the Fed bill revealed that approximately 55 percent of the loans made available under the largest Federal Reserve bailout program, the Term Auction Facility, went to foreign banks! This is but one example of the real cost to Americans of maintaining its empire overseas, and it cries out for more transparency and oversight.

This is why it is key for us to understand that our foreign policy and current economic crisis go hand in hand, added Paul. Some have promised to lead us back to fiscal responsibility while asserting that any reduction in our foreign and military spending is off the table. They would like us to believe that we should not only continue spending as much on the military as the rest of the world combined, but they actually call for an even more aggressive U.S. policy abroad. They believe we should continue to bomb Pakistan, Yemen, Afghanistan, and elsewhere; that we must impose even more crippling sanctions on countries like Iran while moving steadily on to yet another Middle East war that is not in our interest. They represent the failed policies of the past and they would like to lead us down a dead-end street. We must resist the temptation of their neo-con inspired scaremongering.

There will be much work for us to do in the next year and in the next Congress, continued Paul. We need look no further than the grossly unconstitutional and immoral policies of the Transportation Security Administration demanding that we either be irradiated or fondled to travel in our own country to see that those who would deprive us of our civil liberties on the empty promise of full security will not be giving up easily. We must continue standing up to them and we must not compromise. We must not allow the out-of-control Department of Homeland Security to impose an East German-like police state in the U.S., where neighbors are encouraged by Big Brother or Big Sister to inform on their neighbors. We must not accept that government authorities should hector us via television screens as we go about our private lives, like we are living in Orwells 1984.

I am optimistic that the incoming members of Congress understand the importance of what they have been entrusted with by the American people, closed Paul. But I do hope that those who elected them will watch their actions -- and their votes in Congress carefully. An early indication will be the upcoming vote on reauthorization of the anti-American PATRIOT Act. Defeat once and for all of this police-state legislation will be a great way to start 2011 and the 112th Congress. We must move ahead with confidence. Our numbers are growing.

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