Ron Paul gloomy on deficit outlook, sees crisis

WASHINGTON | Thu Jan 27, 2011 3:20pm EST

WASHINGTON (Reuters) - A world currency crisis awaits if the Congress and the White House do not balance the federal budget soon and that appears unlikely, Representative Ron Paul said in an interview on Thursday.

The iconoclastic Texas Republican also told Reuters he expects wide support for a bill he has reintroduced in the U.S. House of Representatives to allow greatly expanded scrutiny of the Federal Reserve by Congress' investigative wing.

Paul was recently named chairman of the House domestic monetary policy subcommittee that oversees that issue.

"I think the deficit is going to continue to grow," Paul told Reuters. "I am anticipating that we will have a dollar currency crisis that's going to be worldwide and the world will be forced to have monetary reform, and we're getting closer to that all the time."

Paul also said he was "undecided" on whether he will run again for president, an office he has twice sought unsuccessfully.

Rand Paul, Paul's son, was elected to the Senate last year from Kentucky. Both father and son are prominent figures in the conservative Tea Party movement.
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Comments (2)
fatlibertarian wrote:
Go Ron Paul. Run in 2012!

The Time Is NOW.

Jan 28, 2011 1:40am EST  --  Report as abuse
JTWilliams81 wrote:
Ron Paul has been warning of this crisis for decades now. His credibility is off the charts! But as opposed to listening to him, we have buffoons like Bernanke, Geithner, and Summers running the show. The ignorant ones who shill for Wall St, and failed to predict the housing bubble, while profiting all the while. Cut government, cut taxes, liquidate debt, and let the people get back to work. But they won’t, because then the bankers would have to take the losses for once.

Jan 28, 2011 4:24am EST  --  Report as abuse
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