Ron Paul

Ron Paul

Dr. Ron Paul is a former member of Congress and Distinguished Counselor to the Mises Institute.

Articles by Ron Paul

McConnell Cannot Stop the Non-Interventionist Tide

Even Republican stalwarts like current Senate Minority Leader Mitch McConnell are starting to notice that something is shifting in the party. While McConnell announced recently that he would step down as Republican leader in the US Senate, in an interview last week he was adamant that he would continue to serve out his term in the Senate with one purpose in mind: “fighting back against the isolationist movement in my own party.”He sounds worried.What McConnell deems to be “isolationism” had for much of our history been called America’s traditional foreign policy. There have been major exceptions, but until the emergence of the neoconservatives starting in the late 1970s we largely adhered to the words of John Quincy Adams that America, “goes not abroad, in search of monsters to

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The Senate Calls Out-of-Control Spending a National Security Threat, Keeps Spending Anyway

Last month, the US Senate passed a resolution saying the over 34 trillion dollars (and growing) national debt threatens national security. A few days later, a bipartisan majority of the Senate voted for a 1.2 trillion dollars spending bill. In addition to the usual increases in war and welfare spending, the bill funds gender transitioning for minors without parental consent and red flag laws, which allow law enforcement to seize an individual’s firearms without due process.Before passage of the latest spending bill, the Congressional Budget Orifice (CBO) released a report predicting that the national debt would exceed the prior record of 106.4 percent of gross domestic product (GDP) by 2028. Interest payments on the national debt are estimated to reach 870 billion dollars

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Congressional Omnibus is Like a Bad Hollywood Movie Sequel

This weekend’s late-night spending vote in Congress seems like another in an endless series of sequels to a bad suspense movie. Just at the brink of “disaster,” just before the stroke of midnight, Congress pulls off a miracle and passes an omnibus bill to save us from a “government shutdown!”The heroes have saved the day!Unfortunately, this latest sequel is as bad as the previous ones, as the American people are left with a massive $1.2 trillion dollar spending package to add to our already $34 trillion in debt. Military spending will, of course, be increased yet again, as the military-industrial complex demands more of our wealth to feed its ever-increasing appetite. And if this military spending increase is not enough, Congressional leadership is promising another huge supplemental bill

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Blame the Fed for “Shrinkflation”

President Biden may have recently made history as the first president to discuss snack chips in the State of the Union message. He used snack chips to illustrate the phenomenon of shrinkflation. Shrinkflation occurs when businesses reduce the amount of goods sold in order to avoid raising prices. President Biden pointed out that businesses hope that, since both the price and the size of the package remain the same, most consumers will not notice they are getting fewer chips, cookies, or whatever other product has been affected by shrinkflation.President Biden called on Congress to pass legislation, sponsored by so-called moderate Senator Bob Casey of Pennsylvania, to crack down on companies that reduce the amount of a good in a package. Biden and his congressional allies and media

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Biden’s “Nighttime in America” State of the Union

Last week President Biden delivered a dark and angry speech meant to convince the low percentage of Americans who still feel positive about his presidency that everything is fine and will only get better if he is re-elected for a second term.Unfortunately we have come a long way from the optimism of a Ronald Reagan, who won a second term partially on the popularity of his “Morning in America” campaign commercials.

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Federal Reserve Responsibility for Consumer and Government Debt Crises

According to the Federal Reserve, credit card delinquencies increased by 50 percent in 2023, while consumer debt grew to 17.5 trillion dollars. A recent survey by Clever Real Estate found that three in five Americans have credit card debt and that 23 percent of Americans increase their credit card debt every month. The survey also found that 48 percent of Americans (including 59 percent of millennials) use credit cards for essential living expenses.The overreliance on credit cards and the accompanying increase in consumer debt are consequences of our fiat money system. Since Richard Nixon severed the last link between the dollar and gold in August of 1971, the dollar’s value has declined by 87 percent based on the government’s understated Consumer Price Index numbers. This means that even

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After Two Years, Neocons Desperate For More War in Ukraine

In a recent CNN interview, the normally very confident US Under Secretary of State Victoria Nuland sounded a little desperate. She was trying to make the case for Congress to pass another $61 billion dollars for the neocons’ proxy war project in Ukraine and she was throwing out the old slogans that the neocons use when they want funding for their latest war.Asked by CNN whether she believes that Congress will eventually pass the bill, Nuland responded that she has confidence that, “we will do what we have always done, which is defend democracy and freedom around the world…”What Nuland is attempting here is what the neocons always do. They try to wrap their terrible policies up in the American flag and sell it to the American people as something reflective of “our” values. If you oppose

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We Need a Peace President

Most people agree that we are closer to nuclear war than at any time since the 1962 Cuban Missile Crisis. Some would even argue that we are closer now than we were in those fateful days, when Soviet missiles in Cuba almost triggered a nuclear war between the US and the USSR.
In those days we were told that we were in a life-or-death struggle with Communism and thus could not cede a square foot of territory or the dominoes would fall one-by-one until the “Reds” ruled over us.
That crisis was very real to me, as I was drafted into the military in the middle of the US/USSR standoff over Cuba and we could all feel how close we were to annihilation.
Fortunately, we had a president in the White House at the time who understood the dangers of nuclear brinkmanship. Even though he was surrounded by

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NATO’s Great New Idea: “Let’s Start a War with China!”

ATO’s post–Cold War history is that of an organization far past its “sell-by” date. Desperate for a mission after the end of the Warsaw Pact, NATO in the late 1990s decided that it would become the muscle behind the militarization of “human rights” under the Clinton Administration.
Gone was the “threat of global communism” which was used to justify NATO’s 40-year run, so NATO re-imagined itself as a band of armed Atlanticist superheroes. Wherever there was an “injustice” (as defined by Washington’s neocons), NATO was ready with guns and bombs.
The US military-industrial complex could not have been happier. All the Beltway think tanks they lavishly fund finally hit on a sure winner to keep the money pipeline flowing. It was always about money, not security.
The test run for NATO as human

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Congress Ignores Real Debt Ceiling Drama

Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because the legislation also promised to reduce federal spending by $4.5 trillion over the next decade. Most of those spending reductions are achieved by rolling back Fiscal Year spending to 2022 levels and then limiting increases in spending to one percent for the next ten years. The bill also returns unspent COVID relief money to the US Treasury and eliminates President Biden’s student loan forgiveness programs.
Perhaps the most significant part of the bill is the REINS Act. This legislation requires congressional approval of any

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Peace is Breaking Out in the Middle East…and Washington is Not Happy!

While we were being distracted by the ongoing Russia/Ukraine war – and Washington’s increasing involvement in the war – tremendous developments in the Middle East have all but ended decades of US meddling in the region. Peace is breaking out in the Middle East and Washington is not at all happy about it!
Take, for example, the recent mending of relations between Saudi Arabia and formerly bitter adversaries Iran and Syria. A China-brokered deal between the Saudis and Iran has them re-establishing full diplomatic relations, with the foreign ministers of both countries meeting in Beijing last week. It is the highest level meeting between the two countries in seven years.
Additionally, Riyadh is expected to invite Syria back into the Arab League and Syrian president Assad may attend the next

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Are Bank Failures a Sign of More Trouble Ahead?

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it.
Major Swiss bank Credit Suisse was also teetering on the brink when it received a 54 billion dollars line of credit from the Swiss UBS Group last week. Now, UBS is in the process of buying Credit Suisse. Politicians, regulators, and financial “experts” all rushed to assure us these problems were all caused by factors unique to the individual banks and were not a sign of a systemic weakness in the banking system.

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Respect the Fed? No, End the Fed

President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products.

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Taking Back Our Liberty in 2022

For those of us who value liberty, these past two years have been a bad dream. It seems like we fell asleep in early 2020 and woke up in 1984! They said that if we just put on a mask and stayed home for two weeks, we’d be able to return to normal. The two weeks came and went and instead of going back to normal they added more restrictions.

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Fauci on Your Phone?

If the Senate follows the House of Representatives’s lead and passes the Immunization Infrastructure Modernization Act (HR 550), Americans who do not get the recommended number of covid vaccines can look forward to receiving a text like this: “This is Dr. Anthony Fauci. According to government records you have not yet received your monthly covid booster shot. Until you prove you are following vaccine protocols, your vaccine passport will be revoked, resulting in loss of your privilege to work, worship, and visit your family.”
According to the bill’s chief sponsor, New Hampshire Representative Ann Kuster, HR 550 will “bolster and quicken our nationwide vaccine rollout” by “improv[ing] and expand[ing] information-sharing between state and federal governments, as well as public and private

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No, Conservatives Should Not Embrace MMT

Reading Jonathan Culbreath’s “Modern Monetary Theory for Conservatives” one can’t help but think of Murray Rothbard’s quip that “it is not a crime to be ignorant of economics … but it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.“
Culbreath’s case for modern monetary theory (MMT) rests on an ignorance of basic economic principles regarding the role of money in a free market economy. Money—whether precious metals, fiat currency, crypto, or some other good—is more than the unit of account that makes exchange possible. Money is also a key part of the equation of the price system, which allows market participants to discover the highest use of goods and services as determined by the demonstrated preferences

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6b.) P: Mises.org 2016-02-18 21:24:45

Tu ne cede malis, sed contra audentior ito

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6b.) P: Mises.org 2014-12-31 08:00:00

Those who voted for the omnibus to avoid a shutdown fail to grasp that the consequences of blindly expanding government are far worse than the consequences of a temporary government shutdown, writes Ron Paul.This audio Mises Daily is narrated by Dianna Keiler.

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