Peter Schiff

Austrian School
Born	(1963-03-23) March 23, 1963 (age 49)
Nationality	United States
Field	Financial Economics
Alma mater	U.C. Berkeley (B.B.A.), 1987[1]
Opposed	John Maynard Keynes,[2] Alan Greenspan,[3][4][5] Ben Bernanke,[6][7][8] Paul Krugman,[9] Christopher Dodd,[10] Barack Obama,[11]
Influences	Irwin Schiff, Ludwig von Mises, F.A. Hayek, Murray Rothbard

Peter David Schiff (pronounced /ˈʃɪf/; born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist^[1] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut^[12] and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.^[13]

Schiff frequently appears as a guest on financial television and is often quoted in major financial publications. He is host of The Peter Schiff Show, a radio show broadcast on terrestrial and internet radio. He is a frequent guest on internet radio^[14][15][16] as well as the host of the former podcast Wall Street Unspun.^[14][17] In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.^[18]

Schiff is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets as well as foreign stocks and currencies.

Early life and education[link]

Peter Schiff was born and raised in New Haven, Connecticut. His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion.^[19] Peter Schiff attended Beverly Hills High School in California,^[20] and graduated from the University of California, Berkeley in 1987 with a Bachelor's degree in finance and accounting.^[1]

Financial career[link]

Schiff began his career as a financial consultant at a Shearson Lehman Brothers brokerage.^[1] In 1996 Schiff and a partner acquired a small brokerage firm that had been founded in 1980, reincorporated it in California and renamed it Euro Pacific Capital.^[21][22] The company today has more than 15,000 clients^{[citation needed]} and six offices nationwide, with its headquarters in Westport, Connecticut.^[12][21][23]

According to a 2005 article in The Advocate of Stamford, Connecticut Schiff relocated the firm to Darien, Connecticut to find brokers "who think like him". The New York Metropolitan Area, Schiff says, has the biggest concentration of brokers in the country, making it easier to recruit employees.^[24] The company has offices in Newport Beach, California as well as in Scottsdale, Arizona, Palm Beach, Florida, Los Angeles and New York City. Euro Pacific Capital also holds the exclusive rights to broker some Perth Mint gold products in the United States.^[25]

Economic forecasts[link]

Peter Schiff voices strong support for the Austrian School of economic thought, first introduced to him by his father.^{[26][27][28][29]}

2002–2008[link]

In his 2007 book Crash Proof, Schiff wrote that United States economic policies were fundamentally unsound, and predicted that the United States dollar would lose much of its value.^[3] Schiff believed that the imbalance between the amount of goods the U.S. consumed and what it produced would eventually lead to problems for the U.S. economy.^[30][31] As a remedy Schiff favored increased personal savings and production which he said would stimulate economic growth.^[32] Schiff cited the U.S.'s low personal savings rate as one of the causes of its transformation from the world's largest creditor nation in the 1970s to the largest debtor nation in the year 2000.^[33] Schiff attributed the low savings rate to higher inflation and the artificially low interest rates set by the Federal Reserve.^[34]

In a May 2002 interview with Southland Today, Schiff predicted that the economic downturn triggered by the bursting of the dot-com stock market bubble, an event that he had also forecast well in advance, would lead to a bear market likely to last "another 5 to 10 years."^[35][36] Later that year, following a 30% decline in the Dow Jones, Schiff reversed his call, and became bullish on U.S. stocks in nominal terms. However, he remained bearish in gold terms. In November 2002, as Schiff predicted, US stock indexes began a nominal bull market uptrend that held steady for five years,^[37] until reversing course in 2008, when they began a decline to less than half of their peak 2008 values,^[38] followed in 2009 by the Dow climbing 61% from its low point over the following year.^[39] However, priced in gold, U.S. stocks remained in a bear market the entire time. In May of 2002, the date of the Southland Today interview,^[40] the Dow Jones was worth over 34 ounces of gold. By 2011 the Dow fell below 6 ounces of gold, a nine-year decline of over 80%, in line with Schiff’s 2002 forecast.^[41]

In an August 2006 interview he said: "The United States economy is like the Titanic and I am here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States."^[42] On December 31, 2006 in debate on Fox News, Schiff forecast that "what's going to happen in 2007" is that "real estate prices are going to come crashing back down to Earth".^[42]

As part of these exchanges on Fox News and his repeated appearances on financial news network CNBC, Schiff had mentioned factors such as speculators and "the absence of lending standards" which are now seen by many^[43][44] to indeed be contributing factors to the housing crisis which began in 2007. On December 13, 2007 in a Bloomberg interview on the show Open Exchange, Schiff further added that he felt that the crisis would extend to the credit card lending industry.^[45] Following this observation, it was soon reported on December 23, 2007 by the Associated Press that "The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier at 17 large credit card trusts examined by the AP... At the same time, defaults -- when lenders essentially give up hope of ever being repaid and write off the debt -- rose 18 percent to almost $961 million in October, according to filings made by the trusts with the Securities and Exchange Commission."^[46]

Since 2007, Schiff has stated many times that if the government doesn't change course there will be hyperinflation in the US.^[3] Schiff is one of a minority of economists credited with accurately predicting the financial crisis of 2007–2010 while "nearly all [macroeconomists] failed to foresee the recession despite plenty of warning signs".^[47][48] In his book Crash Proof, he described several aspects of the U.S. economy that would lead to a recession.^[3]

A YouTube video entitled "Peter Schiff was right" became popular in late 2008 and 2009.^[49][50] The video consists of a compilation of clips of his many appearances on various financial news programs from networks including CNBC, Fox News, MSNBC and Bloomberg, most of which took place from 2005 to 2007. In the video segments Schiff explains the fundamental problems he saw with the United States economy at that time. Schiff's warnings of a coming economic collapse earned him the moniker "Dr. Doom."^[22][51][52]

2009–present[link]

Despite predictions regarding the housing bubble and automotive industry difficulties coming to fruition, as early as 2009 Schiff was receiving criticism due to the performance of some of his client's accounts in 2008, as well as controversies over the predictions themselves. In January 2009, economic blogger and investment adviser Michael Shedlock reported, "I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008."^[53] Later that week an article appeared in the Wall Street Journal reporting that Schiff's broker-dealer firm, Euro Pacific Capital Inc., "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" and that instead, the dollar advanced against most currencies, "magnifying the losses from foreign stocks Mr. Schiff steered his investors into."^[54]

The Director of Communications at Schiff's investment firm responded to the original Shedlock piece by saying, "While it is true, that our accounts have suffered badly in 2008, a fact that we have never disputed or ran from, [Shedlock's] estimates for the size of our typical client losses are exaggerated and unfair."^[55][56] Schiff personally responded to Shedlock's criticism by saying, "to examine the effectiveness of my investment strategy immediately following a major correction by looking only at those accounts who adopted the strategy at the previous peak is unfair and distortive" and called Shedlock's blog entry "nothing more than an overt advertisement (and a highly deceptive one at that) to use my popularity to advance his career," adding that losses were felt mostly by recent clients and not by others.^[57]

Schiff responded similarly to criticisms made by Wade Slome of Sidoxia Capital Management, LLC. in a September 2009 blog entry entitled, "The Emperor Schiff Has No Clothes."^[36] Schiff stated not only were the losses suffered by his clients in 2008 highly exaggerated, but also that most of those losses have already been recouped, stating that many who were down then are now up, and most long-term clients were never down at all, but merely temporarily lost some of the profits they had earned over the years.^[36]

The January 2009 Wall Street Journal article discussed the value of Schiff's predictions, and stated how deficiencies "made mincemeat of investors who took his advice in 2008."^[54] In an interview the following week Schiff likened himself to billionaire investor Warren Buffett, saying they were both "buy and hold" long-term investors. Contrasting his negative press he compared claims about accounts managed under Schiff's firm to the stock market value of Buffett's company, saying: "His approach is you buy stocks and you never sell them—you hope to never sell them—and Berkshire Hathaway is down 40% in the last thirteen months; I don't see the Wall Street Journal saying 'Warren Buffett made mincemeat out of his clients.'"^[58] The Wall Street Journal also published a letter written by Schiff in response to his critics saying: "My central investing premise, a weakening dollar and safety in gold, commodities and foreign stocks, didn't materialize in 2008. But all the ingredients were (and remain) present for those movements to occur. Over the past year, market reactions that I didn't foresee—massive global deleveraging, a knee-jerk 'flight to quality' into U.S. Treasuries and a sharp counter trend rally in the U.S. dollar—have kept the scenario from playing out."^[59]

In a November 2009 videoblog, Schiff said that five stocks he picked for Fortune Magazine in January 2009 had gained a total of 360%.^[60][61]

In a March 2009 speech Schiff said that it would be impossible for the U.S. debt to China to be repaid unless the U.S. dollar's value is substantially diluted through inflation. In September 2009 Schiff said that "I would not be surprised to see [gold] at $5,000 over the next several years" and that the 2009 stock market rally was a "bear market rally".^[62]

According to economist Paul Krugman, Schiff's Austrian approach to economics led him to incorrectly predict hyperinflation in the United States.^[63]

Political career[link]

Schiff was an economic adviser to Ron Paul's 2008 presidential campaign. In support of Paul's economic revitalization plan, he said: "We need a plan that stimulates savings and production, not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction. If you want meaningful change—for the better that is—Ron Paul is the only candidate capable of delivering it."^[64]

In 2008, Schiff also endorsed Murray Sabrin for the U.S. Senate seat in New Jersey.^[65]

In an interview in February 2009, Schiff's position was summarized as a nonpartisan critique of American policymakers, comparing former presidents George W. Bush to Herbert Hoover and President Barack Obama to former president Franklin D. Roosevelt, with neither of the more recent incumbents comparing favorably to the earlier ones.^[66]

Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation.^[67] Schiff says that the economic crisis of the late-2000s provides an opportunity to transition from borrowing and spending, to saving and producing. He is critical of the U.S. government's efforts to "ease the pain" with economic stimulus packages and bailouts. According to Schiff, the U.S. government's approach of replacing "legitimate savings with a printing press" could result in hyperinflation.^[68]

2010 U.S. Senate campaign[link]

In December 2008, Connecticut citizens created a website encouraging Schiff to campaign against the incumbent Senator Christopher Dodd.^[69][70] Approximately 5,000 people made campaign contributions using the web site.^[69] On February 21, 2009, a moneybomb raised over $20,000 for Schiff's campaign.^[71] In a May 2009 video blog, Schiff said that he was seriously considering a run for the senate and when questioned by a Washington Post reporter, he said the chance of him entering politics was "better than 50-50".^[72] In June 2009 Schiff commissioned a poll of likely voters which indicated that he trailed Dodd in popularity by four percentage points.^[73] On July 9, 2009, Schiff launched an exploratory committee and an official campaign website.^[69] He began accepting donations in an attempt to see if "people who really believe in freedom, liberty, sound money and the constitution are prepared to support that with an actual political contribution or to volunteer their services and work on this campaign." He received over 10,000 donations and many e-mails from around the world.^[69]

After giving some hints on The Daily Show^[74] Schiff officially announced his candidacy for the Republican nomination on September 17, 2009, during the MSNBC Morning Joe show.^[18][75][76] By October 2009 Schiff had received more than 10,000 telephone calls and letters^[69] and raised over $1,960,000 (USD) in campaign contributions.

At the May 2010 Republican convention, Linda McMahon received the most delegate votes but not enough to prevent an August primary election. U.S. Rep. Rob Simmons received more than the required 15 percent of the total votes necessary to force the primary. Schiff then collected the signatures necessary to earn a position on the August 2010 GOP primary ballot, submitting at least 400 signatures over the state requirement.

In July 2010, Schiff's campaign received endorsements from Steve Forbes and Ron Paul.^[77][78]

In the Republican primary, held on August 10, 2010, Schiff lost the nomination to Linda McMahon.^[79] McMahon collected 49% of the vote, with Simmons on 28% and Schiff 23%.^[80]

Ultimately, the election was won by the Democratic Party primary winner, Richard Blumenthal.^[81]

Broadcasting[link]

From 2005 to 2010 Schiff hosted a weekly podcast named Wall Street Unspun. In October 2010 Schiff began hosting a new radio show named The Peter Schiff Show. The show is broadcast weekdays from 10am-noon ET on internet and terrestrial radio. The show has featured guests such as Ron Paul, Rand Paul, Niall Ferguson, Dennis Kucinich, Rick Santelli, and others.^[82]

Books[link]

Peter Schiff is the author of six books published by John Wiley & Sons. His book, Crash Proof 2.0, appeared on both the New York Times and Wall Street Journal bestseller lists.

• Crash Proof: How to Profit From the Coming Economic Collapse, February 2007, ISBN 978-0-470-04360-8 1
• The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down, 2008, ISBN 978-0-470-38378-0 2
• Crash Proof 2.0: How to Profit From the Economic Collapse, 2nd Edition, September 2009, ISBN 978-0-470-47453-2 3
• The Little Book of Bull Moves, Updated and Expanded: How to Keep Your Portfolio Up When the Market Is Up, Down, Or Sideways, 2010, ISBN 0-470-64399-4 4
• How an Economy Grows and Why it Crashes, 2010, ISBN 978-0-470-52670-5 5
• The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country, 2012, ISBN 978-1-250-00447-5

References[link]

External links[link]

Wikimedia Commons has media related to: Peter Schiff

Wikiquote has a collection of quotations related to: Peter Schiff

• Euro Pacific Capital US Brokerage Firm Website
• Euro Pacific Precious Metals Coin Company Website
• Schiff for Senate Official Campaign Website
• Peter Schiff Online, Official book site for Peter Schiff
• Peter Schiff radio, Schiff's daily radio show
• Peter Schiff's Official YouTube channel

Fareed Zakaria
Zakaria at Charles Schwab Institutional Impact 2007
Born	Fareed Rafiq Zakaria (1964-01-20) January 20, 1964 (age 48) Mumbai, Maharashtra, India
Alma mater	Yale University (AB) Harvard University (PhD)
Occupation	Journalist, commentator, author
Notable credit(s)	Time magazine, contributing editor (2010) Fareed Zakaria GPS, host (2008–present) Newsweek International, editor (2000–2010) Foreign Exchange, host (2005–2007) Foreign Affairs, former managing editor
Spouse	Paula Throckmorton Zakaria
Children	Omar, Lila, Sofia
Website
www.fareedzakaria.com

Fareed Rafiq Zakaria ( /fəˈriːd zəˈkɑriə/; Konkani/Hindi: फ़रीद राफ़िक़ ज़कारिया, Urdu: فرید رفیق زکریا; born January 20, 1964) is an Indian-American journalist and author. From 2000 to 2010, he was a columnist for Newsweek and editor of Newsweek International. In 2010 he became editor-at-large of Time magazine. He is also the host of CNN's Fareed Zakaria GPS, and a frequent commentator and author about issues related to international relations, trade and American foreign policy.^[1]

In 2010, the government of India honored him with the Padma Bhushan for his contribution towards journalism.^[2]

Early life[link]

Zakaria was born in Mumbai (then Bombay), Maharashtra, India, to a Konkani Muslim family.^[3] His father, Rafiq Zakaria, was a politician associated with the Indian National Congress and an Islamic scholar. His mother, Fatima Zakaria, was for a time the editor of the Sunday Times of India.

Zakaria attended the Cathedral and John Connon School in Mumbai. He received a Bachelor of Arts from Yale University,^[1] where he was president of the Yale Political Union, editor-in-chief of the Yale Political Monthly, a member of the Scroll and Key society, and a member of the Party of the Right. He later earned a Doctor of Philosophy in political science from Harvard University in 1993,^[1] where he studied under Samuel P. Huntington and Stanley Hoffmann, as well as international relations theorist Robert Keohane.^[4]

Career[link]

After directing a research project on American foreign policy at Harvard, Zakaria became managing editor of Foreign Affairs magazine in 1992. In October 2000, he was named editor of Newsweek International,^[1] and wrote a weekly foreign affairs column. In August 2010 it was announced that he was moving from Newsweek to Time magazine, to serve as a contributing editor and columnist.^[5]

He has written on a variety of subjects for the New York Times, the Wall Street Journal, The New Yorker, and as a wine columnist for the web magazine Slate.^[6][7]

Zakaria is the author of From Wealth to Power: The Unusual Origins of America's World Role (Princeton, 1998), The Future of Freedom (Norton, 2003), and The Post-American World (2008); he has also co-edited The American Encounter: The United States and the Making of the Modern World (Basic Books).

In 2007, Foreign Policy and Prospect magazines named him one of the 100 leading public intellectuals in the world.^[8]

Zakaria was a news analyst with ABC's This Week with George Stephanopoulos (2002–2007); he hosted the weekly TV news show, Foreign Exchange with Fareed Zakaria on PBS (2005–2008); his weekly show, Fareed Zakaria GPS (Global Public Square) premiered on CNN in June 2008.^[1] As of November 2011, It airs on Sundays at 10:00am and 1:00pm Eastern Daylight Time.^[9]

Political views[link]

Zakaria self-identifies as a "centrist",^[10] though he has been described variously as a political liberal,^[11][12] a conservative,^[13] or a moderate.^[14] George Stephanopoulos said of him in 2003, "He’s so well versed in politics, and he can’t be pigeonholed. I can’t be sure whenever I turn to him where he’s going to be coming from or what he’s going to say."^[15] Zakaria wrote in February 2008 that "Conservatism grew powerful in the 1970s and 1980s because it proposed solutions appropriate to the problems of the age", adding that "a new world requires new thinking".^[16] He supported Barack Obama during the 2008 Democratic primary campaign and also for president. In January 2009 Forbes referred to Zakaria as one of the 25 most influential liberals in the American media.^[11] Zakaria has stated that he tries not to be devoted to any type of ideology, saying "I feel that's part of my job... which is not to pick sides but to explain what I think is happening on the ground. I can't say, 'This is my team and I'm going to root for them no matter what they do.'"^[10]

Fareed Zakaria at World Economic Forum 2006, Davos, Switzerland (second from the right)

Zakaria's books include The Future of Freedom and The Post-American World. The Future of Freedom argues that what is defined as democracy in the Western world is actually "liberal democracy," a combination of liberal constitutionalism and participatory politics. Zakaria points out that protection of liberty and the rule of law actually preceded popular elections by centuries in Western Europe, and that when countries only adopt elections without the protection of liberty, they create "illiberal democracy." The Post-American World, published in 2008 before the financial crisis, argued that the most important trend of modern times is the "rise of the rest," the economic emergence of China, India, Brazil and other countries.^[17]

After the 9/11 attacks, in a Newsweek cover essay, "Why They Hate Us," Zakaria argued that Islamic extremism was not fundamentally rooted in Islam, nor could it be claimed a reaction to American foreign policy. He portrayed Osama bin Laden as one in a long line of extremists who used religion to justify mass murder. Zakaria argued for an inter-generational effort to create more open and dynamic societies in Arab countries, and thereby helping Islam enter the modern world.^[18]

Zakaria initially supported the 2003 invasion of Iraq.^[13] He said at the time, “The place is so dysfunctional... any stirring of the pot is good. America’s involvement in the region is for the good."^[13] He argued for a United Nations-sanctioned operation with a much larger force—approximately 400,000 troops—than was actually employed by the administration of President George W. Bush. After the invasion, he frequently criticized the way the Bush administration was running the occupation of Iraq.^[19] He continued to argue that a functioning democracy in Iraq would be a powerful new model for Arab politics but believes that at this point, an honest accounting would have to say that the costs of the invasion and occupation have been much higher than the benefits. He opposed the Iraq surge in March 2007, writing that it would work militarily but not politically, still leaving Iraq divided among its three communities. Instead he advocated that Washington push hard for a political settlement between the Sunni Arabs, Shia Arabs, and Kurds, and begin a reduction in forces to only 60,000 troops.^[19] In January 2009, he stated flatly that the surge "succeeded," militarily and did better politically than he would have predicted.^[20][21]

From 2006, Zakaria has also criticized what he views as "fear-based" American policies employed not only in combating terrorism, but also in enforcing immigration and drug smuggling laws, and has argued in favor of decriminalization of drugs and citizenship for presently illegal immigrants to the United States of all backgrounds.^[22][23][24]

Before the 2008 US Presidential election, Zakaria endorsed Barack Obama on his CNN program.^[25] In May 2011 The New York Times reported that President Obama has "sounded out prominent journalists like Fareed Zakaria ... and Thomas L. Friedman" concerning Middle East issues.^[26]

Wolfowitz meeting[link]

In his 2006 book State of Denial, Washington Post journalist Bob Woodward described a November 29, 2001, meeting of Middle East analysts, including Zakaria, that was convened at the request of the then Deputy Secretary of Defense Paul Wolfowitz. According to a New York Times story on Woodward's book, the Wolfowitz meeting ultimately produced a report for President George W. Bush that supported the subsequent invasion of Iraq. Zakaria, however, later told The New York Times that he had briefly attended what he thought was "a brainstorming session".^[27] He was not told that a report would be prepared for the President, and the report did not have his name on it.^[28]

Personal[link]

Zakaria is a naturalized American citizen.^[29] He currently resides in New York City^[1] with his wife, Paula Throckmorton Zakaria, son Omar, and daughters Lila and Sofia.

Awards[link]

Zakaria was conferred India Abroad Person of the Year 2008 award on March 20, 2009, in New York.^[30] Filmmaker Mira Nair, who won the award for year 2007, honored her successor. He has received honorary degrees at the University of Miami, Oberlin College, Bates College, Brown University, Harvard University,^[31] and Johns Hopkins University.

In January 2010, Zakaria was given the Padma Bhushan award by the Indian government for his contribution to the field of journalism.^[32]

In 2005, Zakaria was awarded the Hubert H. Humphrey First Amendment Freedoms Prize from the Anti-Defamation League ("ADL"). In July 2010 the ADL expressed its opposition to the Park51 Islamic cultural center and mosque, planned for a site that is two blocks from the World Trade Center site. Zakaria returned the award in protest, saying that he could not "in good conscience keep it anymore". In support of his decision, he stated that the larger issue in the controversy is freedom of religion in America, even while acknowledging that he is not a religious person. He also wrote that a "moderate, mainstream version of Islam" is essential to winning the war on terror.^[33][34][35] On the August 8, 2010, edition of Fareed Zakaria GPS, Zakaria addressed the issue, stating that in returning his award, he had hoped that the ADL would reconsider their stance.^[35]

Zakaria has accepted invitations to give commencement addresses to the 2012 graduating classes at Harvard University ^[36] and Duke University.^[37]

Bibliography[link]

• The Post-American World, Release 2.0, Fareed Zakaria, (W.W. Norton & Company; 2011) ISBN 0-393-08180-X
• The Post-American World, Fareed Zakaria, (W.W. Norton & Company; 2008) ISBN 0-393-06235-X
• The Future of Freedom: Illiberal Democracy at Home and Abroad, Fareed Zakaria, (W.W. Norton & Company; 2003) ISBN 0-393-04764-4
• From Wealth to Power, Fareed Zakaria, (Princeton University Press; 1998) ISBN 0-691-04496-1
• The American Encounter: The United States and the Making of the Modern World Essays from 75 Years of Foreign Affairs, edited by James F. Hoge and Fareed Zakaria, (Basic Books; 1997) ISBN 0-465-00170-X

References[link]

External links[link]

Wikimedia Commons has media related to: Fareed Zakaria

• FareedZakaria.com Official site
• Fareed Zakaria on Facebook
• Fareed Zakaria on Twitter
• Global Public Square at CNN
• Column archive at The Daily Star
• Column archive (through 2010) at Newsweek
• Appearances on C-SPAN
• Fareed Zakaria on Charlie Rose
• Fareed Zakaria at the Internet Movie Database
• Works by or about Fareed Zakaria in libraries (WorldCat catalog)
• Fareed Zakaria collected news and commentary at The New York Times
• Fareed Zakaria at the Notable Names Database

Interviews and articles

• Marion Maneker. "Man of the World". New York magazine profile.
• Coverage of his many appearances on "The Daily Show with Jon Stewart". Sajaforum.org
• Review roundup of "The Post-American World" at SAJA Forum
• One-on-One with Thomas L. Friedman. Omnivoracious. September 7, 2008
• "Sweet Justice". Zakaria says that German wines get a bad rap. Slate (magazine).
• Audio: Fareed Zakaria in conversation on the BBC World Service discussion show The Forum
• Q&A with Fareed Zakaria on five-year anniversary of 9/11 attacks. South Asian Journalists Association blog. September 10, 2006.
• "The Interpreter". Village Voice profile. August 9, 2005.

Rand Paul
United States Senator from Kentucky
Incumbent
Assumed office January 3, 2011 Serving with Mitch McConnell
Preceded by	Jim Bunning
Personal details
Born	Randal Howard Paul (1963-01-07) January 7, 1963 (age 49) Pittsburgh, Pennsylvania
Political party	Republican
Spouse(s)	Kelley Ashby Paul (m. 1990)
Relations	Ron Paul Carol Wells Paul (parents)
Children	William, Robert, and Duncan
Residence	Bowling Green, Kentucky
Alma mater	Baylor University (1981–1984) Duke University (M.D., 1988)
Occupation	Ophthalmologist (Physician), Politician
Religion	Presbyterian[1] (baptized Episcopalian)
Website	paul.senate.gov Rand Paul 2010

Randal Howard "Rand" Paul (born January 7, 1963) is the junior United States Senator for Kentucky. He is a member of the Republican Party. A member of the Tea Party movement, he describes himself as a "constitutional conservative"^[2] and a libertarian.^[3] He is the son of Republican Congressman and 2012 Republican presidential candidate Ron Paul of Texas and had never previously held political office. Paul first received national attention in 2008 when making political speeches on behalf of his father. Rand Paul is the first United States Senator in history to serve alongside a parent in the United States House of Representatives.

A graduate of the Duke University School of Medicine, Paul has been a practicing ophthalmologist in Bowling Green, Kentucky, since 1993, and established his own clinic in December 2007. In 1994, he founded Kentucky Taxpayers United, of which he is still the chairman.^[4]

In 2010, Paul ran as the Republican candidate for the United States Senate seat being vacated by retiring Senator Jim Bunning of Kentucky and defeated Kentucky Attorney General Jack Conway. As a supporter of the Tea Party movement, Paul has been vocal in advocating for term limits, a balanced budget amendment, and the Read the Bills Act, in addition to the widespread reduction of federal spending and taxation. He has gained prominence for his independent positions on many political issues, often clashing with both Republicans and Democrats.^[5]

Early life and education[link]

Paul at a rally in Erlanger, Kentucky, on October 2, 2010, along with his father, Congressman Ron Paul of Texas, and his son, William Paul.

Randal Howard Paul^[6] was born on January 7, 1963, in Pittsburgh, Pennsylvania, to Carol Wells Paul and Ron Paul. Paul's father is a physician and U.S. Representative of Texas's 14th congressional district. The middle child of five, his siblings are Ronald "Ronnie" Paul Jr., Lori Paul Pyeatt, Robert Paul and Joy Paul-LeBlanc.^[7] Paul was baptized in the Episcopal Church^[8] and identified as a practicing Christian as a teenager.^[9] Despite his father's libertarian views and strong support for individual rights,^[9][10] the novelist Ayn Rand was not the inspiration for Paul's first name; he went by "Randy" while growing up.^[11] His wife shortened his name to "Rand".^[9][12][13]

The Paul family moved to Lake Jackson, Texas, in 1968,^[11][14] where Rand was raised^[15][16] and his father began his medical practice and for an extent of time was the only obstetrician in Brazoria County.^[11][14] When Paul was 13, his father was elected to the United States House of Representatives.^[17] In his teenage years, Paul studied the Austrian economists that his father respected, as well as Ayn Rand.^[11] Paul went to Brazoswood High School and was on the swimming team and played defensive back on the football team.^[9][15] Paul attended Baylor University from fall 1981 to summer 1984. Paul was enrolled in the honors program at Baylor, and had scored approximately in the 90th percentile on the Medical College Admission Test.^[18] During Paul's time at Baylor, he was involved in the swim team and Young Conservatives of Texas and was a member of a secret organization known as the NoZe Brotherhood.^[19] Paul left Baylor early when he was accepted into the Duke University School of Medicine, where he earned his Doctor of Medicine (M.D.) degree in 1988 and completed his residency in 1993.^[18]

Personal life[link]

Paul arriving at the Bowling Green-Warren County Regional Airport on November 1, 2010, in Bowling Green, Kentucky, along with his wife Kelley, sons Duncan and Robert, and a campaign staffer.

In Atlanta, Paul met Kelley Ashby, a Rhodes College English major. Paul and Ashby were married on October 20, 1990, and moved to Bowling Green, Kentucky, less than 30 miles (48 km) from her hometown of Russellville, Kentucky, in 1993.^[20]

Kelley Paul is a freelance writer, and she manages payroll and marketing communications for Paul's surgical practice.^[21] The couple have three sons: William, Duncan and Robert.^[22]

Medical career[link]

Paul has held a state-issued medical license since moving to Bowling Green in 1993.^[23] He received his first job from Dr. John Downing of Downing McPeak Vision Centers, which brought him to Bowling Green after completing his residency. Paul worked for Downing for about five years before parting ways. Afterwards, he went to work at the Graves-Gilbert Clinic, a private medical group in Bowling Green, for 10 years before creating his own practice in a converted one-story house across the street from Downing's office.^[24] After his election to the U.S. Senate, Paul merged his practice with Downing's medical practice.^[25] Paul has had two malpractice lawsuits filed against him since 1993. Paul was cleared in one case and the other was settled for $50,000.^[24] Regardless, his medical work has been praised by Downing and Paul has medical privileges at two Bowling Green hospitals.^[23][24] Paul specializes in cataract and glaucoma surgeries, LASIK procedures, and corneal transplants.^[12]

As a member of the Bowling Green Noon Lions Club, Paul founded the Southern Kentucky Lions Eye Clinic to help provide eye surgery and exams for those who cannot afford to pay.^[26] He is a regular presenter at the annual Men's Health and Safety Day conference held by The Medical Center of Bowling Green since 1998.^[27] In 1999 Paul founded the Non-profit organization National Board of Ophthalmology (NBO).^[28]

Board certification[link]

In 2010 the Louisville Courier-Journal reported that Paul, who described himself as a "board-certified" ophthalmologist, was not certified by the American Board of Ophthalmology (ABO).^[23] In 1995, Paul passed the American Board of Ophthalmology boards earning his certification under the ABO for a term of one decade. In 1997, after a dispute with the American Board of Ophthalmology over recertification requirements,^[29] Paul, along with 200 ophthalmologists formed the National Board of Ophthalmology (NBO).^[30] A spokesperson for the American Board of Medical Specialties stated: "He [Paul] is not board-certified."^[23]

Paul's ABO certification lapsed on December 31, 2005, and Paul has since been certified by the NBO.^[23] ABO administrator Beth Ann Slembarski says that over 95 percent of the nation’s practicing ophthalmologists have American Board of Ophthalmology certification.^[31] Regardless of his additional certifications, Paul has been licensed by the state to practice medicine in Kentucky since 1993, and his license is in good standing with no history of disciplinary action. The Courier-Journal reported: "There is no indication that Paul isn't qualified to practice ophthalmology."^[23]

Political activism[link]

Rand Paul in 2011 speaking at the Night of the Rising Stars.

As founder and chairman of the anti-tax organization Kentucky Taxpayers United (KTU) since 1994, Paul regularly presents "taxpayers' friend" awards to state legislators. KTU, which regards itself as nonpartisan, but is criticized for being ideologically conservative,^[32][33] examines legislator records on taxation and spending to inform voters where their own lawmakers stand on the issues.^[34] Paul's editorial commentary on behalf of KTU has been published and recognized in the Kentucky Post.^[35]

KTU sponsors the Taxpayer's Pledge of Americans for Tax Reform, encouraging politicians to pledge publicly to vote uniformly against tax raises.^[35] Nine of fifteen Northern Kentucky legislators signed the pledge,^[36] such as Senator Dick Roeding^[35] and Representative Royce Adams in 1996.^[37] In 2000, these legislators considered a hotel room tax hike (favored by Governor Paul Patton for helping expand the Dr. Albert B. Sabin Convention Center in nearby Cincinnati), even though the increase might "incur the wrath of Paul's group," as two newspapers put it.^[36][38]

Paul stated that Patton's argument for "revenue recovery" was merely a euphemism for taxes^[39] and said that KTU would fight reelection of any pledge-breakers; Adams requested in writing that Paul's group release him from his pledge, stating that it only applied to his first term.^[37] By the close of session in April, the tax increase had failed, although Patton had achieved most of his intended budget; Paul stated legislators were pressured to finalize the budget by deadline rather than to "face accusations of shutting down government."^[40]

Paul often speaks on his father's behalf,^[22][41] and he and his son William attended the third Republican presidential debate of 2007 in New Hampshire, as well as campaigned door-to-door in the state for his father.^[42] At a New Hampshire rally with 250 in attendance (plus 30 members of his own family), Paul repeated a campaign meme by pretending to take a call from Rudy Giuliani during his remarks, and joking that Giuliani needed campaigners and wanted to borrow the Paul family.^[43]

On December 16, 2007, the 234th anniversary of the Boston Tea Party, Paul spoke at Faneuil Hall in favor of small government principles,^[44] calling for what CNN termed a "modern day revolution."^[45] He continued campaigning across the country for his father in 2008,^[21] traveling as far as Montana.^[26]

Paul has co-authored a book entitled The Tea Party Goes to Washington with Jack Hunter, released on February 22, 2011.^[46] It defends the Tea Party movement.^[47]

Electoral history[link]

Paul in Louisville, November 2009

Primary campaign[link]

In the beginning of 2009, Paul was the focus of an online grassroots movement to draft him in a bid to replace beleaguered Republican Kentucky senator Jim Bunning. The news of his potential candidacy became a topic of national interest and was discussed in the Los Angeles Times^[48] and locally in the Kentucky press.^[49] Commenting on Paul's possible candidacy, Congressman Ron Paul noted that "Should Senator Bunning decide not to run, I think Rand would make a great U.S. Senator."^[50]

On May 1, 2009, Paul officially confirmed that if Bunning, whose fundraising in 2009 has matched his poor numbers in opinion polling for the 2010 election,^[51] declined to seek a third term, he would almost certainly run in the Republican Party primary to succeed him,^[52] and formed an exploratory committee soon after, while still promising to stay out of the race if Bunning had ultimately decided to run for re-election. Paul made this announcement on MSNBC's The Rachel Maddow Show, though the news was first broken by a local Kentucky news site.^[53]

On July 28, 2009, Bunning announced that he would not run for re-election, after facing insufficient fundraising. This announcement left only Paul and Secretary of State Trey Grayson as the remaining candidates for the Republican nomination,^[54] with Paul announcing on August 5, 2009 that he would officially run for the U.S. Senate as a Republican. The announcement was made through a series of national TV events, radio, and other programs, as well as through newspapers in Kentucky.^[55][56][57]

Early fundraising success[link]

On August 20, 2009, Paul's grassroots planned a moneybomb to kick off his campaign for United States Senate. The official campaign took in $433,509 in 24 hours.^[58] According to Paul,^[59] This set a new record in Kentucky's political fundraising history in a 24-hour period.

A second "moneybomb" was held on September 23, 2009, to counter a D.C. fundraiser being held for primary opponent Trey Grayson, by 23 Republican United States Senators, 17 of whom voted for the bank bailout.^[60] The theme was a UFC "fight" between Paul and "We the People" vs. Trey Grayson and the "D.C. Insiders."^[61] The money bomb ended up raising $186,276 for Paul in 24 hours on September 23;^[62] bringing Paul's Senate campaign's total raised to over one million. Later in the campaign, Paul claimed his pledge to not take money from lobbyist and Senators who voted for the bailout was only a "primary pledge"^[63] and Paul later held a DC fundraiser with the same Senators who were the target of the September 23, 2009 "moneybomb." Paul ended up raising some $3 million during the primary period.

Primary victory[link]

Rand Paul with then-Senator Jim Bunning.

Although Grayson was considered the frontrunner in July 2009,^[64] Paul found success characterizing Grayson as a "career politician" and challenging Grayson's conservatism. Paul ran an ad in February that made an issue out of Grayson's September 2008 admission that he voted for Bill Clinton when he was 20 years old.^[65] Although the Paul campaign later removed the video from YouTube, Paul's Democratic general election competitor put it back up on October 20 after Paul had taken exception to the Democrat making an issue out of Paul's own college-age actions.^[66] James Dobson, a Christian evangelical figure, endorsed Grayson on April 26 based on the advice of what Dobson described as "senior members of the GOP", but on May 3 the Paul campaign announced that Dobson had changed his endorsement to Paul^[67] after Paul and some Paul supporters had lobbied Dobson insisting on Paul's social conservative bona fides.^[68]

On May 18 Paul won the Republican Senatorial primary by a 23.4% margin,^[69] meaning he would face the Kentucky Attorney General Jack Conway, in the November 2 general election.^[70]

General campaign[link]

On June 28, 2010, Rand Paul supporters held their first post-primary online fundraising drive, this time promoted as a "money blast."^[71][72]

BP oil spill comments[link]

On May 21, 2010, Paul generated some controversy by characterizing statements made by Obama administration officials regarding the BP oil spill cleanup as sounding "un-American". Paul said:

Paul may have been referring to a statement by Interior Secretary Ken Salazar, who said "our job is basically to keep the boot on the neck of British Petroleum to carry out the responsibilities that they have, both under the law and contractually to move forward and to stop this spill."^[74] Salazar's remark was later slightly misquoted as "boot on the throat" by Press Secretary Robert Gibbs. Gibbs clarified at the same press conference, when asked if this metaphor did not imply hostility to BP, "I think the President accurately conveyed in his remarks yesterday that we are going to do everything humanly possible, and ensure that BP is doing everything humanly possible, to deal with this as comprehensively and as quickly as they can."^[75]

Private property and civil rights[link]

Paul criticized the Bowling Green Daily News on May 30, 2002 for supporting the Fair Housing Act. He explained that "a free society will abide unofficial, private discrimination, even when that means allowing hate-filled groups to exclude people based on the color of their skin."^[76] On May 19, 2010, Paul stated that he favors 9 out of 10 titles of the Civil Rights Act of 1964, but had he been a senator during 1960s, he would have raised some questions on the constitutionality of Title II of the Act, which prohibits private businesses who provide public accommodations from discriminating on the basis of race, religion, or national origin against their customers, arguing that it infringes upon constitutional freedoms. Paul stated on National Public Radio, "I'm in favor of everything with regards to ending institutional racism".^[77] Paul favors community and neighborhood pressure to persuade private businesses, rather than federal laws that he argued might violate the constitution.^[78] Paul said he abhors racism, and he would have marched with Martin Luther King Jr. to repeal Jim Crow Laws. Paul's comments on Title II of Civil Rights Act of 1964 stirred controversy^[79][80][81] and brought concern among Republican party insiders about his viability in the general election.^[80][81] Paul later released a statement declaring that he would have voted for the Act and stated "unequivocally ... that I will not support any efforts to repeal the Civil Rights Act of 1964".^[82][83] Paul stating that while he "abhors racism," he doesn't like the idea of the federal government determining who a business may serve.^[84] Amid a flurry of controversy, Paul became the first American politician to cancel an appearance on Meet the Press in their 64-year history.^[85] Additionally, RNC Chairman Michael Steele, publicly denounced him, saying that Paul's opposition to the Civil Rights Act is a "misplaced" philosophy for the 21st Century.^[86]

Paul addressed his feelings about intentions of the legislation relating to public offices, stating that he "overwhelmingly agrees with the intent of the [Civil Rights Act] which was to stop discrimination in the public sphere and halt the abhorrent practice of segregation and Jim Crow laws," and that Constitutional challenges to the law have been settled by the courts.^[87]

Endorsements[link]

Paul has secured endorsements from several public figures and political organizations. They include the Downsize DC Foundation,^[88] Concerned Women for America,^[89] Gun Owners of America,^[90] Steve Forbes,^[91] FreedomWorks,^[92] Club for Growth,^[93] James Dobson,^[94] Sarah Palin,^[95] Jim DeMint,^[96] Cathy Bailey,^[97] Jim Bunning,^[98] Erick Erickson,^[99] National Federation of Independent Business,^[100] Council for Citizens Against Government Waste,^[101] National Right to Life,^[102] US Chamber of Commerce,^[103] National Vietnam and Gulf War Veterans Coalition,^[104] Mike Huckabee,^[105] and Tony Perkins/FRC Action PAC.^[106][107]

U.S. Senate career[link]

Tenure[link]

Paul was sworn in on January 5, 2011 along with his father, marking the first time in congressional history that a child served in the Senate while the parent simultaneously served in the House of Representatives.^[108] He was assigned to serve on the Energy and Natural Resources, Health, Education, Labor and Pensions, Homeland Security and Government Affairs, and Small Business committees.^[109] Paul also formed the Senate Tea Party Caucus with Jim DeMint and Mike Lee as its inaugural members.^[110] Paul’s first legislative proposal was to cut $500 billion from federal spending in one year. This proposal includes cutting the Department of Education by 83 percent and the Department of Homeland Security by 43 percent, as well as folding the Department of Energy into the Department of Defense and eliminating the Department of Housing and Urban Development. Seven independent agencies would be eliminated and food stamps would be cut by 30 percent. Under Paul’s proposal, defense spending would be reduced by 6.5 percent and international aid would be eliminated.^[111] He later proposed a five-year budget plan that he believed would balance the budget.^[112]

In February, Paul was one of two Republicans to vote against extending three key provisions of the USA PATRIOT Act (roving wiretaps, searches of business records, and conducting surveillance of "lone wolves" — individuals not linked to terrorist groups).^[113] In May, he remained the last senator opposing the PATRIOT Act, and was ultimately defeated on May 26.^[114]

On March 2, Paul was one of nine senators to vote against a stopgap bill that cut $4 billion from the budget and temporarily prevent a government shutdown, citing that it did not cut enough from the budget.^[115] One week later, Paul voted against the Democratic and Republican budget proposals to keep funding the federal government, citing that both bills did not cut enough spending. Both bills failed to pass the senate.^[116] He later voted against stopgap measures on March 17 and April 8, both of which passed the senate.^[117] On April 14, Paul was one of 19 senators to vote against a budget that cut $38.5 billion from the budget and fund the government for the remainder of the fiscal year.^[118] Paul voiced opposition to U.S. intervention in the Libyan civil war and has criticized President Obama for not gaining congressional consent for Operation Odyssey Dawn.^[119] During the debt ceiling crisis, Paul stated that he would only support raising the debt ceiling if a balanced budget amendment was enacted.^[120] Paul was a supporter of the Cut, Cap and Balance Act, which was tabled by the Democrats.^[121] On August 3, Paul voted against a bill that would raise the debt ceiling.^[122]

On September 7, Paul called for a vote of no confidence in Treasury Secretary Timothy Geithner.^[123] Later that month, Paul blocked legislation that would strengthen safety rules for oil and gas pipelines because he felt the bill was not strong enough.^[124] In October, Paul blocked a bill that would provide $36 million in benefits for elderly and disabled refugees, saying that he was concerned that it could be used to aid domestic terrorists. This was in response to two alleged terrorists, who came to the United States through a refugee program and were receiving welfare benefits, were arrested in 2011 in Paul’s hometown of Bowling Green.^[125] Paul lifted his hold on the bill after Democratic leaders promised to hold a congressional hearing into how individuals are selected for refugee status and request an investigation on how the two suspects were admitted in the country through a refugee program.^[126]

Committee assignments[link]

• Committee on Energy and Natural Resources
  • Subcommittee on Energy
• Committee on Health, Education, Labor, and Pensions
  • Subcommittee on Primary Health and Aging
• Committee on Homeland Security and Governmental Affairs
  • Ad Hoc Subcommittee on Contracting Oversight
  • Permanent Subcommittee on Investigations
  • Permanent Subcommittee on Investigations
• Committee on Small Business and Entrepreneurship

Political positions[link]

Paul supports term limits, a balanced budget amendment, and the Read the Bills Act, in addition to the widespread reduction of federal spending and taxation. He has gained prominence for his independent positions on many political issues, often clashing with both Republicans and Democrats.^[5]

Abortion and bioethics[link]

Paul is opposed to abortion and supports a Human Life Amendment and a Life at Conception Act.^{[127][128][129]} He also opposes abortion in cases of rape and incest,^[130] but supports use of the morning-after pill.^[131] He opposes federal funding for abortion.^[128] He takes a states' rights position, favoring the overturn of Roe v. Wade and allowing states to decide on the legality of abortions without federal involvement.^[132]

According to the Paul campaign, Paul received a 100% pro-life score on a Kentucky Right to Life survey^[133] and indicated on the survey that he opposed human cloning. This was disputed by Kentucky Right to Life, however, who endorsed Paul's primary opponent instead and claimed that Paul did not, in fact, answer the cloning question.^[134]

Campaign finance reform[link]

Paul opposes the Bipartisan Campaign Reform Act of 2002 and has called it a "dangerous piece of legislation".^[135] Instead, he supports regulating the contracts given out by Congress and placing limits on corporations receiving government contracts. Paul opposes legislation limiting the amount of money individuals, corporations, and organizations can give to candidates. Additionally, Paul has proposed "mandating a clause in all federal contracts over $1 million that requires the recipient to pledge not to lobby government or contribute to campaigns during the terms of the contract."^[135][136]

Civil liberties[link]

Paul opposes the USA PATRIOT Act, including warrantless searches and breach of individual privacy.^[137]

Economics and tax cuts[link]

Paul has been a longtime opponent of the bank and auto industry bailouts.

He also opposes the Federal Reserve Act of 1913 and the Federal Reserve's control of the money supply and interest rates. He has advocated allowing the free market to regulate interest rates, and supports Congress' constitutional role in controlling the money supply. Paul endorses H.R. 1207, the Federal Reserve Transparency Act, a bill, introduced by his father, mandating an audit of the Federal Reserve. Although Paul would abolish the Federal Reserve, he supports transparency and accountability of the semi-private institution. Additionally, Paul opposes inflation and supports "restoring the value of the dollar that has devalued by approximately 95% since the Federal Reserve's inception in 1913".^[138]

Paul supports tax cuts and a balanced budget amendment, and has criticized both Republicans and Democrats on deficit spending.^[139]

Education[link]

Paul supports returning control of education to local communities and parents and thus eliminating the federal Department of Education, but he says that some functions of the Department of Education, such as disbursing student loans and Pell Grants, should be transferred to other departments instead of being eliminated.^[140][141] Paul opposes federal regulation of homeschooling.^[142]

Energy[link]

Paul supports allowing the free market to compete and dictate which forms of energy to use. He opposes subsidizing energy companies, and would support allowing tax breaks for companies that produce alternative energy such as wind, solar, or geothermal. He has said that subsidizing the energy industry will only add incentive for companies to lobby the federal government.^[143]

Health care[link]

Paul opposes federal government involvement in health care. He has stated that he would repeal the HMO Act of 1973 that "drives a wedge between the patient and [one's] doctor".^[144] He believes that government has driven up the cost of health care and causes the quality and coverage to decrease. Paul would support a free market approach to health care, including tax deductions for medical expenses. He opposes federal regulations discouraging businesses from providing coverage. He supports Health Savings Accounts (HSAs).^[144] On Medicare, Paul has suggested higher deductibles as well as changes to premiums or eligibility rules as ways to address what he sees as the program's looming financial problems, saying "You want to have more participation by the person who's receiving the entitlement... by that I mean that they need to be more involved with some sort of economic transaction every time they use their entitlement, and that means they have to bear more of the burden."^[145] Paul also stated that he does not support such changes for current retirees or people nearing retirement.^[145]

Illegal immigration[link]

Paul has proposed adding security to the border by installing an electronic fence and helicopter stations to respond to breaches.^[146] He opposes birthright citizenship for children of illegal immigrants.^[147] Paul has said that courts should review the 14th Amendment, which guarantees citizenship to "all persons born or naturalized in the United States," to conclude whether or not it should apply to the children of illegal immigrants. If court challenges fail, Paul would support a constitutional amendment that would deny citizenship to children of illegal immigrants who are born in the United States.^[148]

Medical marijuana[link]

Paul believes the issue of medical marijuana is a states' rights issue and that the federal government should not interfere.^[149] In August, the Associated Press reported that Paul said he was opposed to the legalization of marijuana for medicinal purposes,^[150] but the Paul campaign says he was misquoted.^[149] Though Paul describes himself as a "social conservative," he was nonetheless described by the AP reporter as holding "libertarian leanings on drugs" and believing some drug sentences were too harsh.^[150]

Foreign policy and national defense[link]

Paul holds that the primary Constitutional function of the federal government is national defense, and that the greatest national security threat is the lack of border security. He supports eliminating issuance of visas to people from “about ten rogue nations.” He supports trying terrorists caught on the battlefield in military tribunals at Guantanamo Bay detention camp. Paul believes that when the United States goes to war, Congress must declare war as mandated by the United States Constitution.^[151]

During his 2010 Senate campaign Paul questioned the idea that U.S. Middle East policy is "killing more terrorists than it creates." He supported the war in Afghanistan and opposed rapid withdrawal from Iraq.^[152] He says he would have voted against the invasion of Iraq and questioned whether the intelligence was manipulated."^[153]

He also spoke against U.S. overseas military bases.^[154]

Same-sex marriage[link]

Paul opposes same-sex marriage, but believes the issue should be left to the States to decide.^[129]

Second Amendment[link]

Paul would oppose all gun control legislation, a position he says is supported by the Second Amendment to the United States Constitution.^[155]

References[link]