Ron Paul

In their email announcement for their October 25 Student Forum, "Are Mom and Dad Stealing Your Future?" the Cato Institute, as Reason magazine has done in the past, is saying this about Social Security and Medicare:

Russell Means, 72, died Monday at his South Dakota ranch from inoperable throat cancer.

The Associated Press article posted at whitewolfpack.com recounts his career as an American Indian Movement activist during the 1973 uprising at Wounded Knee, as a candidate for the Libertarian Party's nomination for president in 1987, as an actor in such films as "The Last of the Mohicans" in 1992, and as a relentless advocate for civil rights for all Americans, not just American Indians.

As the economy continues in its downward spiral and talks in Congress about reducing spending have only amounted to political theater, the subject of how the tax code treats energy has become a topic of controversy. Specifically, should we subsidize, enforce mandates, or give tax credits and deductions to industries like ethanol and natural gas? Having a thriving energy market domestically is a good thing and something the government should not hinder. Not only would decreasing our dependence on foreign oil simplify our foreign policy, but it would greatly enhance our anemic economy at home.

Last week I joined six Republican and three Democrat colleagues to file a lawsuit against the Obama administration over its illegal war against Libya. Now that more than 90 days have passed since the president began bombing Libya, no one can seriously claim that the administration has complied with the clear requirements of the 1974 War Powers Resolution.

In a remarkable act of chutzpah, the administration sent to Congress its response to the growing concern over its abuse of war powers. Its argument, in a nutshell, is that the War Powers Resolution is not relevant because US armed forces are not actually engaged in hostilities because Libya is so militarily weak it cannot fight back! This explanation would be laughable if not so horrific. The administration wants us to believe that there is no real violence because the victim cannot fight back? Imagine if this standard was applied to criminal law in the United States! I am sure Libyans on the receiving end of US and NATO bombs feel hostilities are quite definitely taking place.

Recent economic data show that U.S. job growth in May was negligible, while the official unemployment figure-- at least the figure the Labor Department admits to-- rose to 9.1%. The real unemployment figure, however, as compiled by economist John Williams, may well be higher than 20%. It is clear the U.S. economy is in terrible shape, and that no amount of government spending or Federal Reserve quantitative easing can reduce unemployment, increase real productivity, or address our debt fiasco.U.S. jobs and productivity are dependent on the accumulation of private capital to finance existing businesses or fund new entrepreneurial activity. Private capital-- whether accumulated by profitable U.S. businesses, invested by private equity and venture capital firms, or attracted from abroad-- is the key to economic growth and new jobs. But we cannot create jobs if we demonize profits, punish risk-taking capitalists, and stay hostile to foreign investment.

Last week, more than 70 days after President Obama sent our military to attack Libya without a congressional declaration of war, the House of Representatives finally voted on two resolutions attempting to rein in the president. This debate was long overdue, as polls show Americans increasingly are frustrated by congressional inaction. According to a CNN poll last week, 55 percent of the American people believe that Congress, not the president, should have the final authority to decide whether the U.S. should continue its military mission in Libya. Yet for more than 70 days Congress has ignored its constitutional obligations and allowed the president to usurp its authority.

These are truly troubling days for liberty in the United States.

Last week the 60 day deadline for the president to gain congressional approval for our military engagement in Libya under the War Powers Resolution came and went. The media scarcely noticed. The bombings continued. We had a hearing on Capitol Hill on the subject, but the administration refuses to bother with the legality of its new war. It is unclear if Mr. Obama will ever obtain congressional consent, and astonishingly it is being argued that he doesn't need it.

The federal government once again has reached the limit of its legal ability to borrow money, meaning it cannot issue new Treasury debt without action by Congress to increase the debt ceiling limit. As of this month, our “official” national debt- which doesn’t include the staggering future payments promised to Social Security and Medicare beneficiaries- stands at $14.2 trillion.

On April 20th, after a year-long undercover sting operation, armed federal agents acting on behalf of the Food and Drug Administration (FDA) raided the business of Pennsylvanian Amish farmer Dan Allgyer to prevent him from selling his unpasteurized milk to willing, fully-informed customers in Maryland. Federal agents wasted a whole year and who knows how many of our tax dollars posing as customers in order to catch Allgyer committing the "crime" of selling his milk. He was not tricking people into buying it, he was not forcing people to purchase it, and there had been no complaints about his product. These were completely voluntary transactions, but ones that our nanny-state federal government did not approve of, and so they shut down his business. The arrogance of the FDA and so many other federal agencies is simply appalling. These types of police state raids on peaceful businessmen, so reminiscent of our tyrannical federal drug war, have no place in a free society.

Last week marked an important milestone in the war on terrorism for our country. Osama bin Laden applauded the 9/11 attacks. Such deliberate killing of innocent lives deserved retaliation. It is good that bin Laden is dead and justice is served. The way in which he was finally captured and killed shows that targeted retribution is far superior to wars of aggression and nation-building. In 2001 I supported giving the president the authority to pursue those responsible for the vicious 9/11 attacks. However, misusing that authority to pursue nation-building and remaking the Middle East was cynical and dangerous, as the past ten years have proven.

Last week the media focused on President Obama's basic eligibility to be president while ignoring the unconstitutional manner in which he governs. For example, his recent use of a signing statement to affect a line-item veto on a bill he signed into law as president. The recent continuing resolution to fund the government through September had an amendment that defunded four of his czar positions as a cost-cutting measure. These "czars" are administration appointees who exercise influence on policy matters, yet because they are classified as "advisors" and not cabinet officials, the President is able to avoid the Senate confirmation process.

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”. The administration decried this decision as political. However, it seems the only political thing about this decision is the fact that it took so long. The Washington Post recently reported that the White House and the Treasury Department put tremendous pressure on S&P not to do this. However, if S&P made its ratings based on political pressures rather than economic reality, it would cease to have any relevance to the business community. Even if S&P delayed its announcement that U.S. government bond market would be downgraded, at some point it would become obvious that the finances of this country are out of control and our leadership is out of touch. All credibility would be lost if S&P simply continued to assign U.S. debt a AAA rating.

Congress focused on issues surrounding government spending this week as talk of deficits, the national debt, and the debt limit saturated the airwaves. This is a positive development. In years past, there was very little concern over how much was spent here in Washington, how it was spent, or how much of our gross domestic product was being consumed by government. That blissful ignorance naturally resulted in decades of government spending with impunity, bringing us to where we are today: trillions in debt with astronomical entitlement obligations that will be impossible to fulfill in the not too distant future. So it is a good thing that there is so much political pressure now on our leaders to actually put the brakes on runaway spending.

Last week, Congress and the administration refused to seriously consider the problem of government spending. Despite the fear-mongering, a government shutdown would not have been as bad as claimed.

Last week I was both surprised and pleased when the Supreme Court upheld lower court decisions requiring the Federal Reserve Bank to comply with requests for information made by Bloomberg under the Freedom of Information Act ("FOIA"). Bloomberg simply wanted to know who received loans from the Fed's discount window in the aftermath of the 2008 financial market crisis, and how much each entity received. Surely this is basic information that should be available to every American taxpayer. But the Fed fought tooth and nail all the way to the Supreme Court to preserve their privileged secrecy. However, transparency and openness won the day. There are some 29,000 pages to decipher, but a few points stand out initially.