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June 13, 2011
The Keys to Economic Growth
Recent economic data show that U.S. job growth in May was negligible, while the official unemployment figure-- at least the figure the Labor Department admits to-- rose to 9.1%. The real unemployment figure, however, as compiled by economist John Williams, may well be higher than 20%. It is clear the U.S. economy is in terrible shape, and that no amount of government spending or Federal Reserve quantitative easing can reduce...
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June 2, 2011 Statement on Hearing on Federal Reserve Lending Disclosure: FOIA, Dodd-Frank, and the Data DumpToday's hearing deals with one of the most pressing issues this subcommittee will face during this Congress, the issue of Federal Reserve transparency. While the Federal Reserve is still far less transparent than it should be, recent disclosures of the Federal Reserve’s lending programs have greatly increased our knowledge of the Fed's monetary policy during the height of the financial ... View More |
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June 9, 2011 House Members Ramp Up Efforts to Scale Back Military Commitments and Cut SpendingWASHINGTON, DC – A bipartisan group of six Members of the House of Representatives today released a joint letter calling for a reduction in U.S. military spending by scaling back worldwide military commitments. The letter was signed by Congressman Barney Frank (D-MA), Congressman John Campbell (R-CA), Congressman Rush Holt (D-NJ), Congressman Walter Jones (R-NC), Congresswoman Gwen Moore (D-WI), and Congressman Ron Paul (R-TX). The six Members will now circulate the letter in the House of Representatives, asking other Members to co-sign the letter before it is finalized and sent to the President as well as House and Senate ... View More |
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May 12, 2011 Angleton Senior Wins Congressional Art CompetitionGalveston, TX - Judging for the 2011 Congressional Art Competition: An Artistic Discovery took place on Monday, May 2. High School students from across the 10 counties in the 14th Congressional District participated in the competition. The winning piece chosen for this year’s competition was from Christian Diaz, an Angleton High School senior. His art work, appropriately entitled “Grazing,” portrayed a longhorn. He chose colored pencils to create the ... View More |
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May 9, 2011 Subcommittee to Explore Relationship Between Federal Reserve and Government DebtWASHINGTON: Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul announced today the Subcommittee will hold a hearing entitled “Monetary Policy and the Debt Ceiling: Examining the Relationship Between the Federal Reserve and Government Debt.” The hearing will explore the fundamental role that U.S. government debt plays in the monetary system; the use of Treasury debt by the Federal Reserve in conducting monetary policy; and the troubling reliance of Congress on the Fed to print money to facilitate deficit ... View More |
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April 27, 2011 Statement on Federal Reserve's Press Conference"Chairman Bernanke's press conference today was unprecedented, and it demonstrates that Federal Reserve officials are very concerned about growing public criticism of Fed policies. Although Mr. Bernanke predictably provided no substantive information, the American people want real answers about Fed bailouts, lending to foreign banks, and most of all inflation. Mr. Bernanke continues to ignore his culpability for the inflation all Americans suffer due to the Fed's relentless monetary expansion. Rising prices are the direct result of Fed devaluation of our dollar. Yet rather than addressing the Fed's loose dollar policy, Mr. Bernanke continues to assure us that inflation is ... View More |
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April 2, 2011 Paul Condemns Fed Lending Practices Disclosed by Bloomberg LawsuitFor Immediate Release Inquiries: Rachel Mills 202.280.8781 April 2, 2011 Washington, DC – More details are coming to light regarding lending practices by the Federal Reserve Bank since the 2008 financial crisis, as the Fed was forced to release 29,000 pages of documents following a lawsuit brought by Bloomberg LLC under the Freedom of Information Act. Perhaps the most startling revelation so far is the extent of lending activities to foreign banks. “What I had suspected is now confirmed – the Fed gave money to foreign banks during and since the crisis of 2008. I was surprised and deeply disturbed, however, to learn the staggering ... View More |
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March 29, 2011 Congressman Paul Returns Unused Portion of Office Budget to US TreasuryWashington, DC: Congressman Ron Paul has returned $141,580 of unspent office funds to the US Treasury. This represents just over 9% of the total office funds, and an increase over the $100,000 returned last year. "Since my first year in Congress I have managed my office in a frugal manner, instructing staff to provide the greatest possible service to the people of the 14th district at the least possible cost to taxpayers," said Paul. The surplus funds are intended to go towards paying down the national ... View More |
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March 11, 2011 Paul Announces Hearing on Monetary Policy and Rising PricesWashington, DC: Congressman Ron Paul, Chairman of the Domestic Monetary Policy and Technology subcommittee, announced that the subcommittee will hold a hearing to examine the relationship between monetary policy and rising prices (with a particular focus on food and energy prices). The hearing is scheduled for Thursday, March 17th at 10:00 AM, in room 2128 of the Rayburn House office building. “It is unconscionable that published government statistics mislead Americans regarding the true rate of price inflation, which is much higher than commonly-reported CPI numbers,” Paul stated. “It is also unconscionable that Federal Reserve Bank officials continue to deny the effects of ... View More |
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