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Judge Napolitano: He’s the former underdog, who is now a big dog. The leader of the pack, as far as true conservative principles go, and tied for first in some of the polls in Iowa. Texas Congressman Ron Paul’s new add says his fellow candidates, Mitt Romney and Newt Gingrich, have more bark than bite when it comes to limiting the size of the government. Take a listen to this.
Voice in Ad: You want big cuts? Ron Paul has been screaming it for years. Budget crisis? No problem, cut a trillion bucks in year 1, that’s Trillion with a T. Department of Education? Gone. Interior, Energy, HUD, Commerce? Gone. Later, bureaucrats. That’s how Ron Paul rolls. Want to drain the swamp? Ron Paul, do it!
Judge Napolitano: Just do it. Joining me now is the man who’s bringing the fight to the lapdogs for big government. Texas Republican Congressman, Ron Paul. Congressman Paul, as always it’s a pleasure, welcome back to Freedom Watch.
Ron Paul: Thank you, Judge.
Judge Napolitano: How do you explain the shift in the polls as to who’s up, who’s down? And now, what appears to be movement towards Newt Gingrich, who has far, far more in common with Barack Obama than he does with true small government values, the values that you’ve been preaching.
Ron Paul: You know, if we hadn’t just gone through 6 months of flavor-of-the-month, or flavor-of-the-week, I would think that this is for real. But I don’t know if this surge for Newt is real. It doesn’t seem to be for me that it really is. It seems like the people aren’t paying a lot of attention, and when they do, they have a superficial opinion about somebody. And whoever has had the most news in the last news cycle, seems to get the most attention. So I think it’s too early to tell, but also I think when Cain dropped out, those individuals went someplace else, and they have gone over to Newt. But I think, as they look more carefully at Newt, and as you have mentioned about his alliance with progressivism of Theodore Roosevelt, I think conservatives are going to have to take a more careful look.
Judge Napolitano: Isn’t it ironic that in the same day at almost the exact same time that President Obama was speaking in a small rural town in Kansas that hasn’t voted for a Republican for President in over a 100 years, identifying himself with Theodore Roosevelt, newt Gingrich was on Glenn Beck’s radio show, identifying himself with Theodore Roosevelt. Could you imagine if these two guys actually identified with the same big government hero, when in fact, they do?
Ron Paul: You know, those of us who sometimes think there’s planning and scheming between the two parties, so there’s no difference. Those who love the Fed and they love the foreign policy and they love the welfare, they’re satisfied with both candidates. But that’s supposed to be a secret conspiracy theory, but now it’s sort of out in the open. There’re two people that are outwardly and openly supporting the same hero, so I would say it should be a strong message to the American people. Because the message I’m hearing from the American people and the demonstrations on our streets, is they’re sick and tired of what they’re having and the status quo. And they’re certainly not going to find an answer just by supporting somebody who has very similar views to our President.
Judge Napolitano: You mentioned the Fed. Ben Bernanke today claims that we should have known all along about the unbelievable amounts of money that he was funneling to American banks and to foreign banks while the Congress was voting for TARP and stimulus packages. As a result of a lawsuit filed by Fox Business and by our colleagues at Bloomberg News, we discovered the number was 7.7 trillion dollars in the eight months period from September 2008 to April 2009. Now, Chairman Bernanke says, “Well, you shouldn’t have been surprised about it, we briefed members of Congress on it”. Were you briefed on this, were you told how much money the Fed was printing and distributing while the Congress was borrowing money and giving it to the same banks?
Ron Paul: No, and I was very suspect. I assumed they were doing this along. So even with my skepticism about what the Fed does and what they don’t tell us, it still was a little bit shocking to me to find out the amount. Because there are other numbers that are actually even bigger than the 7 trillion dollars if you go over a broader period of time. There might be well over 15 trillion dollars of credit that they were churning in and out of domestic banks as well as foreign banks. So it’s a big operation. For him to indicate that we should have known, and he gave us that information, that’s stretching it, I’ll tell you.
Judge Napolitano: Congressman Paul, it’s a pleasure, thanks very much for joining us.
Ron Paul: Thank you, Judge.