In what observers say is the biggest rally of the various campaigns involved in the South Carolina Republican Presidential primary, Ron Paul was greeted by a large, energetic crowd yesterday at an event at the College of Charleston as part of its 'Bully Pulpit' series.
The gathering was held outdoors in the Stern Student Center courtyard and consisted primarily of young adults who were wildly enthusiastic about Dr. Paul's appearance in the area.
Speaking for approximately 30 minutes, Dr. Paul presented his standard stump speech, without notes, extolling the virtues of a free society that is unhampered by the unnecessary restrictions of government. The Texas Congressman stated that the large crowd at the College of Charleston is typical of what he is seeing all over America--an awakening, a revolution of liberty, particularly among younger adults who are "fed up with Washington's meddling in their lives."
Paul stated that when the people are given maximum freedom, the society flourishes, but when government slaps restrictions on them "things get messed up."
Noting that when he first started in politics in the 1970s he rarely received support for his views, Paul asserted that within the past 2 years he has observed a dramatic change as Americans are increasingly alarmed over the erosion of their rights as protected by the Constitution and are demanding that government get out of the way and allow the individual to succeed on his/her own merits.
Recognizing that such freedom carries with it the 'freedom to fail,' Paul stated, "But it is better to fail due to our own individual merits than to have government make all of our decisions for us, the result of which is that everyone fails."
As an example of this concept, Dr. Paul stated that in 1971, when the Nixon Administration and a Democrat-dominated Congress nixed the gold standard, the nation embarked on a course that has led directly to the economic problems by which it is confronted today. Eventually, he said, the markets, other nations, and Americans themselves, begin to realize that paper is worth only what it is made of--paper. Yet the Federal Reserve addresses the problem by pumping more of that paper into the economy, making the paper worth even less.
The dollar, he said, has lost 85% of its value since 1971 when the gold standard was scrapped.
But the Constitution, Paul declared, mandates that only gold and silver be used as the standard currency. Had the government heeded the wisdom of the Framers and gotten out of the way instead of meddling in monetary policy and allowing the Federal Reserve to control the economy, then the stark failures of 'Keynesian economics' we are witnessing today would not be an issue.
Dr. Paul then called for a full audit of the Federal Reserve, which they have refused to do, and for the eventual end of the entity entirely. The Constitution, he said, does not allow for any such entity as the Federal Reserve.
Turning to the issue of the national debt, which stands at over 15 trillion dollars (over 100 trillion when unfunded liabilities are added in--Social Security, Medicare, and Medicaid), Dr. Paul spoke of his proposal to cut a trillion dollars from the budget the first year of his term of office.
And in a statement that brought wild applause from the audience, Paul quipped that he had just returned to South Carolina from Washington, to which he traveled yesterday morning for the sole purpose of voting against Barack Obama's new request to raise the debt ceiling yet again.
The debt, he said, is destroying the ability of young people today and future generations to prosper due to the fact that with the massive bailouts of both the Obama and Bush Administrations, the debt was handed off to the citizens from those who created it--the politicians and large banking and mortgage corporations.
During the question-and-answer session after the speech, Paul was asked to follow-up on the debt issue in light of his statement during Monday night's debate that he wished to drop the income tax rate to zero. "How," asked the questioner, "do you propose to address the debt and cut a trillion dollars in spending the first year if there is no income tax?"
In response Dr. Paul reminded the audience that until 1913 the nation had no income tax. Revenues to fund the government were raised by fees and tariffs. Paul suggested that there are several good proposals on the table that would replace the income tax, such as user fees and the 'flat tax.' This, in conjunction with drastic cuts in federal spending, would lower and eventually eliminate the debt.
The South Carolina Republican Primary is tomorrow. Several polls show Newt Gingrich in the lead, followed by Mitt Romney, and Ron Paul coming in a strong third.
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