The Problem With Ron Paul’s Magical Debt Extinguishing Wand

[browsershot url=”http://blogs.forbes.com/lawrencehunter/2011/07/10/the-problem-with-ron-pauls-magical-debt-extinguishing-wand/” width=”270″] While discussing the U.S. debt situation with Iowa radio host Jan Mickelson recently, Texas Congressman and Republican presidential candidate Ron Paul suggested wiping from the books the $1.6 trillion in federal bonds owned by the Federal Reserve.