Federal Reserve Board Abolition Act

The political positions of Ron Paul (R-Tex.), United States presidential candidate in 1988, 2008, and 2012, are generally described as libertarian, but have also been labeled conservative. Paul's nickname "Dr. No" reflects both his medical degree and his assertion that he will "never vote for legislation unless the proposed measure is expressly authorized by the Constitution". This position has frequently resulted in Paul casting the sole "no" vote against proposed legislation. In one 2007 speech, he said he believes that "the proper role for government in America is to provide national defense, a court system for civil disputes, a criminal justice system for acts of force and fraud, and little else." Economy In January 2008, Paul released an economic revitalization plan and named Peter Schiff and Donald L. Luskin as economic advisors to his campaign. National Journal labeled Paul's overall economic policies in 2010 as more conservative than 78% of the House and more liberal than 22% of the House (85% and 15%, respectively for 2009). For 2008, his ratings were more conservative than 91% of the House and more liberal than 8% of the House (80% and 20%, respectively for 2007). In 2006, as more conservative than 48% of the House and more liberal than 51% of the House. His warnings of impending economic crisis and a loss of confidence in the dollar in 2005 and 2006 were at the time derided by many economists, but accelerating dollar devaluation in 2007 led experts like former Federal Reserve chair Alan Greenspan to reconsider hard money policies such as those of Paul. Lower spending and smaller government Paul believes the size of the federal government must be decreased substantially. In order to restrict the federal government to what he believes are its Constitutionally authorized functions, he regularly votes against almost all proposals for new government spending, initiatives, or taxes, in many cases making him in a minority of members of the house by doing so. For example, on January 22, 2007, Paul was the lone member out of 415 voting to oppose a House measure to create a National Archives exhibit on slavery and Reconstruction, seeing this as an unauthorized use of taxpayer money.