Saving Our American Republic

by Ray Bilger

The basic idea of the Founding Fathers was to get government as close to the people as possible. In other words, a small federal government, with strong local and state governments. Thomas Jefferson said, “When all government shall be drawn to Washington as the center of all power, it will… become as oppressive as the government from which we separated [ourselves, the government of England].”

Do you think that a bloated federal bureaucracy might be at the root of the problems we are facing today in our American Republic? Our nation’s Founders never dreamed that the federal government would become the octopus that it is, with its tentacles reaching into every facet of our lives. Is there a solution? Yes, and it’s already happening now!

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Abolish the Federal Reserve

by Perry Willis, DownsizeDC.org

The stock market rises and then crashes. Housing prices soar and then plummet. The Federal Reserve causes these booms and busts by constantly expanding and contracting the supply of money and credit.

Credit expansion by the Federal Reserve increases the demand for producer assets and investment instruments. This causes bubbles in things like stocks and housing. When the Fed then contracts credit to avoid systemic price inflation the asset bubbles burst.

This is the history of the Federal Reserve — booms and busts, mixed with episodes of economic stagnation and high inflation like the 1970s.

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Spending the Economy into Oblivion

by Rep Ron Paul

With news this week that Congress is poised to consider a new stimulus package, I am forced to again ask a question that seems silly in Washington:  How will we pay for this?

While a few Members of Congress have raised the issue, it certainly was not the primary concern of the House Budget Committee when they interviewed Ben Bernanke on Monday.  And, when they did direct this question to the Chairman of the Federal Reserve, his answer was the standard rhetoric about how Congress needed to make tough choices.  Needless to say, not many specifics were discussed.

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