Ron Paul Goes All In! Won’t Seek Reelection to Congress to Focus on Presidential Campaign

After serving almost 24 years in the U.S. House of Representatives, Congressman Ron Paul announced this morning he will not be seeking another term for the District 14 seat.

Paul, 75, will instead focus on his quest for the presidency in 2012.

“I felt it was better that I concentrate on one election,” Paul said. “It’s about that time when I should change tactics.” (Read the full story at The Facts)

Reactions

Sen. Rand Paul:

History will record the legislative record of Ron Paul as an extraordinary one – perhaps unparalleled. There probably has never been a more consistent believer in limited government in Congress. America deserves a statesman like Ron Paul as her president, a man I am proud to call my father.”

Kristina:

Well, the House will lose one of it’s last remaining Voices of Reason (and Truth & Sanity & Liberty) when Dr. Paul leaves at the end of 2012. He will be missed. But, hopefully, the Voice of Reason will be in the White House come January 2013! And hopefully someone just as good will replace his seat in the House.

JerseyPatriot:

Here is to hoping that you will be seeking re-election in 2016. : ) Thank you for all that you have accomplished in the House. I fully support your journey to a house that is white in 2012.

David Ivory:

Ron – you have the attention and respect of more people than you can possibly imagine, good luck with your campaigns, and please stay safe.

Transcript Video #1


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News Anchor: Welcome back, when Ron Paul was first elected to Congress, Jimmy Carter was president, inflation was 11% and the Cold War was in full swing. Times have changed but Paul has been a steadfast champion of small government and individual freedoms. And his 2008 run for president inspired a movement; you know it today as the Tea Party. Ron Paul announced this week that he won’t run for re-election from the 14th District of Texas, instead devoting his energies to another run for president. Congressman Paul joins me from Capitol Hill to talk about that decision and of course his very colorful career, Congressman, happy to have you on the show today, I want to ask you first though…

Ron Paul: Thank you.

News Anchor: …why give up your House job?

Ron Paul: Well, I didn’t want to run two campaigns at one time, I’ve done it before, it was criticized, I think the criticism is justified and I think I should concentrate on one campaign and that’s what I’m going to do and I thought it was time to leave the Congress anyway and besides, I don’t think it’s legal under the constitution to be the president and also to be a member of Congress.

News Anchor: I’m sure you’re well aware of this little crisis that’s brewing in Washington these days known as the debt crisis. What is your solution here, do you think?

Ron Paul: Well there’s no easy solution ‘cause it took them about 30 or 40 years to get into this mess, the solution is we have to change our whole attitude about what the role of government ought to be and in the last 100 years, we’ve drifted from the original intent of the constitution where government was to be limited and was there to protect our liberty. So we have a foreign policy that needs dramatically change, we can’t be the policeman of the world, we shouldn’t have a government that is dealing with our personal liberties and dealing and treating us the way they do at Airports, we should have a different monetary system and we certainly shouldn’t go into deficits. We shouldn’t be doing central economic planning and willing to spend all this money that we don’t have. So it’s a major change that we need, but the major change is coming because the country technically is in bankruptcy.

News Anchor: And what is your answer though on the debt ceiling, do you think it should be raised?

Ron Paul: No, absolutely not. I’ve not voted for any of the spending so I’m not going to vote to raise the debt limit and that’s only going to encourage them, and the argument for raising it…

News Anchor: What’s the problem with raising it?

Ron Paul: Well they argued that it’s going to be devastating if we don’t and will default. But I think the problems that we face, if we continue to do what we’re doing is much worse. And besides, we’re currently defaulting constantly, we default when we devalue the currency and that is why our prices are going up. Although today Bernanke claimed that inflation is only a couple percentage points, when you look at the free market economists, they claim that inflation is over 9% according to CPI that we used to use. So there’s still a lot of inflation, that means defaulting on the people, because they’re getting paid money that loses its value, they save money, they lose its value and people who owe money get to pay back with cheap money, and that’s also the way governments usually default on their debt. They devalue the currency, very dangerous and eventually ends up very badly with a lot more inflation.

News Anchor: Well your feelings certainly are well known about the Federal Reserve and as I said it was quite entertaining to watch you tangle with Ben Bernanke today. I want to play some of that and then I want to ask you about it, so let’s listen.

Ron Paul: then we also have the Fed to deal with too, and I see the Fed as a problem because I see so much of this other spending wouldn’t have gotten out of hand if we didn’t have a monetary system where the system provides the funds, we don’t have to be responsible because we can always say “Well it’s up to the Fed.” If we didn’t have the Fed buying up our debt, interest rates would rise and everybody would yell and scream, but you know what it would do? It would put pressure on us here in the Congress to do something about it.

Ben Bernanke: You’re mistaken in saying that the Federal Reserve has spent any money, you say 5 trillion, we have lent money, we have purchased securities, that’s not buying, that’s not dissipating the money, we’ve gotten all the money back, as an article over the weekend by Ellen Sloane showed in fact the Fed has been a major profit center for the US government. We’ve turned over profits in the last two years of $125 billion, so we are not costing any money in terms of budget deficits or anything like that.

News Anchor: So I want to give you the last word here Congressman on that little debate there, I mean you have gone so far as to say that we don’t even need the Fed, why is that?

Ron Paul: Well, the Fed creates the financial bubbles and if you have a financial bubble, you have to have a correction, the correction is a recession and a depression and then the price inflation and you have the unemployment. So their purpose is to give us low unemployment and stable prices and we don’t get any of it. So we’re not getting much for it, but for him to say they don’t spend any money, that’s a bit of strain language because he claims if you buy a security that you’re just adding reserves into the system. But where did he get the money? I mean and he brags about the profits, I’ll tell you what, if I had absolute control of the printing press, I bet I could make some profits too, it wouldn’t take a genius to make profit. But to say technically speaking he’s not spending money like we do in the Congress, but he is printing money and he is buying junk. He buys all the securities that nobody else wanted and that’s how he bailed out the banks and he bailed out corporations. So as far as I’m concerned in a practical sense that is spending money, money that he created out of thin air and the people suffer and the point I made during the conference was, in the past three years, the economy has not improved and we’ve ended up with a$5 trillion increase in the national debt.

News Anchor: So Congressman before I let you go, I’m sure you pay attention to the polls, close attention, if you don’t become president, now that you’ve given up your job at the House, what will you do?

Ron Paul: Well, first I’m going to concentrate on the campaign and actually we’re pretty optimistic about that compared to four years ago and one thing that we do know that when we look at our own polls is that the support I have is very solid, they’re not going to go anywhere, the support for other candidates, they jump around. But I’ll continue to do what I’ve been doing in office or out of office, I’ve dedicated myself to defending individual liberty, that’s the most important thing. If we have our liberties, we won’t have to worry about our prosperity, the prosperity will come. But if you give up our liberties as we have been, our prosperity dissipates and that’s what happening. So I’ll keep fighting for that which means sound money, free markets, a sensible foreign policy and balance budget, but to concentrate on the principle that every individual deserves their liberties and free people can take care of themselves much better than anything we can do with the dependency on government and central economic planning.

News Anchor: Well I know that you’ve been working hard to change people’s minds and change the country and we wish you the best of luck with that and when we call you on August 3rd after the debt ceiling deadline, we hope you’ll take the call and come back on the show and talk to us about that.

Ron Paul: Thank you very much.

News Anchor: Thank you. It is about 24 minutes past the hour.

  • DirtyBleaks

    AMERICANS!!! please listen too what this man has to say. Do the planet a favour and elect him. Stop paying for other peoples past mistakes,… you cant afford it.

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  • rnade

    America isn’t ready for Ron Paul.. sad but true… its goin to take a bigger crash to get people to listen.. then it will be too late..

    Like or Dislike: Thumb up 1 Thumb down 0

  • yoyartube

    I would guess that the “Who is Ron Paul?” signs would be a reference to “Who is John Galt?”.

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  • nagol1000

    I just want to see Ron debate with obama in front of the world live on TV

    Like or Dislike: Thumb up 2 Thumb down 0

  • MrGTR22

    RON PAUL 2012!!!!

    Like or Dislike: Thumb up 3 Thumb down 0

  • KoutetsuTenshin

    RON PAUL WILL END THESE SENSELESS WARS.

    Like or Dislike: Thumb up 2 Thumb down 0

  • PensFan35

    2 people are from Texas.

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  • nvsyru

    If 60 minutes were to do a 60 minute segment interview with Ron Paul, I believe the exposure to such a large amount of Americans would result in an overwhelming support and love for our “Best Choice in 2012″. We need the message of Ron’s to reach every American so they can have real HOPE! If you agree, please take a minute to contact 60 minutes with an email. Let’s all flood 60 minutes with the request of an hour with Ron Paul!

    Love, Peace and happiness to all!

    Like or Dislike: Thumb up 3 Thumb down 0

  • RonPaul2012Rev

    Fight if you want it patriots. They are never going to let it just happen. Ron Paul is the canidate for me!

    Like or Dislike: Thumb up 3 Thumb down 0

  • rhinnawi95

    He knows he’s winning. It’s pretty obvious.
    Ron Paul r3VOLution 2012!!!

    Like or Dislike: Thumb up 2 Thumb down 0

  • cloudwalker2657

    That’s this guys opinion–what in my view i think the surprise will be on the other side-Paul is the peoples choice,that’s that

    Like or Dislike: Thumb up 1 Thumb down 0

  • R3dp055um

    Ron Paul is a fascist, like every Libertarian.

    Like or Dislike: Thumb up 0 Thumb down 5

    • Fluidly Unsure

      What definition of fascist are you using? What definition of Libertarian are you using?

      Like or Dislike: Thumb up 2 Thumb down 0

  • order9066

    Obama and Republicans weren’t worried about Social Security checks when Goldman Sachs and global bankers received their bailout.

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  • 130hc

    I hope Ron Paul wins and Jesse Ventura Puts Ron Paul on his Shoulders and walk him into the WhiteHouse with all of his Supporters.Run Ron Paul Run!!!

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  • dazzagazza6969

    If the US don’t elect Ron Paul as President they deserve the economic collapse which awaits them.

    Let’s hope China can do a better job at running the world. Hopefully they don’t become an expansionalist economic and military imperial monster which the USA has become.

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  • ganjamerch

    we need to stop raising that fucking Ponzi scheme and face the fact that we owe a shitload of money that doesn’t even exist its gonna suck for a while but we cant just keep ignoring the problem pretending its going to get solved on its own, this country needs a president like Ron Paul to have the courage to face that problem once we hit rock bottom the only way to go is up.

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  • BUFFALOCALZONE

    2 dislikes- Geithner and Bernanke

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  • 130hc

    Ron is The Man!

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  • ltrizzle84

    Yay for black people!

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  • JRCrowley

    Send him some gold.

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