by Ron Paul: Social
Security Is Not ‘Insurance’
The year 2011
brings in a host of opportunities and challenges to America. 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
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. 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 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
This is why
it is key for us to understand that our foreign policy and current
economic crisis go hand in hand. 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 US 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 scare-mongering.
be much work for us to do in the next year and in the next Congress.
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 US, 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 Orwell’s 1984.
I am optimistic
that the incoming Members of Congress understand the importance
of what they have been entrusted with by the American people. 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 re-authorization 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. Happy New Year!
Paul is a Republican member of Congress from Texas.