Here is the second. Like the first batch, they are well-considered and interesting throughout; they will surely make many readers continue to wish fervently for a Paul presidency.
Thanks again to Rep. Paul for his time and insights, and to all of you for the good questions.
Q: What is the first thing the country should do about its monetary policy?
A: We should immediately audit the Federal Reserve. I am the ranking member of the Monetary Policy subcommittee in the U.S. Congress, yet I can get more information about the internal workings of the C.I.A. than I can about our central bank. This secrecy is fundamentally wrong, and I believe that people from all over the ideological political spectrum can agree on that.
Bloomberg News this month has gone to court compel the Fed to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for trillions of dollars of loans to banks. Expanding transparency is critical and could be done very quickly.
Q: What are your expectations for the next four years under an Obama administration? How might President Obama’s interventionist economic policies impact our lives?
A: Unfortunately, I don’t expect many good things. I do expect a lot of spending and even more debt. To really cut spending and balance our budget, we need to change foreign policy. Obama’s rhetoric on foreign policy is better than what we have gotten recently, but don’t expect any real change.
He may be more likely to wind things down in Iraq, but he’s still planning on keeping troops there for a least 16 more months. He wants money for Georgia and more troops in Afghanistan. He isn’t going to bring home our 30,000 troops from Korea or our 50,000 soldiers in Germany, and he won’t close any of our 700 foreign bases. At the same time, he is planning even bigger spending here at home. I hope I’m wrong, but if this spending and debt continue, the dollar is going to crash and we will see the middle class in this country take a grave hit.
Q: Do you deny global warming? Is Obama right to invest money in green technology? If you don’t deny it, and don’t think Obama is right, what is your solution?