Rand Paul thinks it deserves re-consideration.<>
Paul Ryan and the Federal Reserve
Salon reports,
The Congressman from Wisconsin, who is most known for his laissez-faire budget proposals, is also celebrated or reviled in more nerdish circles for his supposedly unwavering support of a laissez-faire approach to monetary policy – “my first love,” as he once described it.
In 2008, he sponsored legislation designed to strip the Federal Reserve of its full employment mandate. He has also characterized expansionary monetary policy as “insidious” and favored by those with “a narrow view of interest.”And in response to quantitative easing in November 2010, Ryan blasted the Federal Reserve, saying“[it’s] going to give us a big inflation problem down the road.”
But WikiLeaks Cablegate disclosures indicate that what Ryan says about monetary policy behind closed doors doesn’t always comport with what he says in public. His supposedly rigid ideology might be more malleable than popular lore indicates.
For example, Ryan, in a meeting with Argentine legislators in earlyJanuary 2009, “cited monetary policy and protecting jobs as critical issues that consume the attention of the U.S. Congress.” It doesn’t exactly sound like the sort of thing a true believer in austerity might say.
And in another meeting with then Argentine Cabinet Chief Minister Sergio Massa in late December 2008, Ryan’s criticism of contractionary monetary policy and a hands-off approach was even more penetrating (emphasis mine):
Rep. Ryan noted that among the many tools being deployed to address the crisis, careful attention was being paid to monetary policy, which previously had sought to contain inflation but now needed to target potential deflation. He called “historic” the Federal Reserve’s decision the previous day to lower interest rates to near zero. Ultimately, the important thing was to fix the financial system by requiring greater transparency and to keep speculation from spinning out of control … Rep. Ryan recalled that Federal Reserve Chairman Bernanke was one of the most prominent scholars of the Great Depression in the 1930s, and that two lessons he had drawn from Bernanke’s academic work were the negative consequences in this type of crisis of taking liquidity out of the system and of enacting protectionist measures.
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Chris Edwards Analyzes Ryan’s Plan
Cato’s Chris Edwards offers his analysis on the Paul Ryan tax and spending proposals.
The Age of Ron Paul Continues, says Juan Williams
Williams, who last year wrote a very favorable piece on the “Age of Ron Paul,” adds one more piece to his fitting tribute. He concludes:
As he leaves the political scene, there is no doubt that cranky Ron Paul has made his mark on American politics.
We will be living in the age of Ron Paul for many years to come.
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Is Homosexuality Not a Part of the Romney Campaign?
Christian News reports,
A spokesperson for Republican presidential candidate Mitt Romney has advised that the former Massachusetts governor disagrees with the Boy Scout’s current policy prohibiting open homosexuals from serving as members and leaders.
According to The Associated Press, Romney spokeswoman Andrea Saul told the news outlet in an email that Romney still stands by his beliefs that homosexual men should be able to serve in the organization. She specifically noted that Romney had outlined his views in 1994 during a political debate, and that his stance has not changed.
“I support the right of the Boy Scouts of America to decide what it wants to do on that issue,” Romney stated during the debate. “I feel that all people should be able to participate in the Boy Scouts regardless of their sexual orientation.”
As previously reported, last month, the Boy Scouts of America issued a statement reaffirming its policy prohibiting open homosexuals from joining the organization. . . .
Mitt Romney also recently reiterated his support for homosexual adoption.
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Buchanan on Target Again…
Pat Buchanan summarizes the debate, and concludes that the culture war must continue:
Two weeks ago, Dan Cathy, CEO of Chick-fil-A, an Atlanta company famous for its juicy chicken sandwiches, appeared on “The Ken Coleman Show” to air his biblical belief that those who champion same-sex marriage are risking divine retribution upon us all.
“We are inviting God’s judgment on our nation when we shake our fist at Him and say, ‘We know better than you as to what constitutes a marriage,’” said Cathy. “I pray God’s mercy on our generation that has such a prideful, arrogant attitude to think that we have the audacity to define what marriage is about.”
Speaking of the company his father started after World War II, Cathy went on, “We are very much supportive of the family — the biblical definition of the family unit. We are a family-owned business, a family-led business, and we are married to our first wives.”
With 1,600 restaurants and 50,000 employees in 40 states, Chick-fil-A is among our fastest-growing food chains. Obedient to the commandment, “Remember thou keep holy the Sabbath day,” Cathy closes his outlets on Sundays.
Reaction to his remarks has been little short of hysterical.
Mayors Rahm Emanuel of Chicago, Thomas Menino of Boston and Edwin Lee of San Francisco said they no longer want Chick-fil-A in their cities. “Chick-fil-A values are not Chicago values,” says Rahm. (more…)
