Secret Fallout From the 2010 Election

by John M. Curtis
(310) 204-8700

Copyright November 5, 2010
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              Calling his victory in Kentucky a “Tea Party” tidal wave, the 47-year-old opthamologist son of Rep. Ron Paul (R-Texas) declared he’s heading to Washington to “take back the government.” Rand’s election to former Major League Baseball’s Hall-of-Fame pitcher Sen. Jim Bunning’s senate seat signals a sea change of Tea Party candidates making their way to Washington.  Beating Kentucky Secretary of State Trey Grayson handily by over 12%, Paul heads to the U.S. Senate unwilling to accept today’s liberal status quo.  Paul, like his Tea Party counterpart in Florida, ever-popular Cuban-born Rick Rubio, sends a loud message to President Barack Obama that there’s a new sheriff in town unwilling to give him a blank check.  Rand’s message is clear:  “Government is too big and it spends too much,” reviving an old but enduring message of the late President Ronald Reagan.

            Tea Party candidates, led by former Alaska governor and GOP Vice Presidential candidate Sarah Palin, challenge Obama’s progressive agenda, promising to repeal, as the first order of business, the president’s health care reform plan.  Beyond the impressive slate of GOP wins around the country, none was more significant to the 2012 presidential race that Rand’s victory in Kentucky.  Once the dust settled from Nov. 2, Ron Paul announced his intent to go forward investigating the Federal Reserve Board.  Nothing proves himself more to the GOP than taking on Federal Reserve Board Chairman Ben S. Bernanke.  In certain GOP circles, Bernanke personifies evil, wild profligate spending begun with Bush’s $687 billion bailout aimed at stabilizing the country’s banks and shaky financial markets.  Nothing could give Ron Paul more publicity than going after the Federal Reserve Board.

            Paul stepped up to the cameras as soon as the votes were counted Nov. 2.  “I think they’re way to independent.  They just shouldn’t have the power,” Paul told Reuters.  Up until recently it has been modest but no it’s totally out of control,” referring to the Fed’s insatiable appetite for printing money.  Because the GOP took over the House Nov. 2, Paul stands to lead the subcommittee overseeing Bernanke and the Fed.  Apart from the nearly $1.5 trillion authorized for bailouts by Congress, Paul wants to know the where the other $13.5 trillion went bailing out the nation’s financial sector.  Paul sees the Fed’s current monetary policy stalling economic recovery by saddling the nation with unrepayable debt.  “It’s an outrage, what is happening, and the Congress more or less had not said much about it,” said Paul, establishing himself as the nation’s premier watchdog policing the Fed.

             In 2004 and 2008, Paul was considered in GOP circles a political oddity, in part because of his libertarian ways.  When the economic collapse happened in 2008, Paul’s worst critics began seeing his wisdom when Bush’s and Obama’s bailouts didn’t reverse the nation’s economic problems.  Paul wants to see the nation return to the gold or silver standard, where the currency is backed by something other than hot-air.  Given the sideways movement of the U.S. economy, more people are beginning to heed the 75-year-old Texas congressman’s message of fiscal restraint.  Paul wants to the government reduce its national debt and budget deficits, currently punishing thrift and long-term recovery.  Taking on the Fed gives Paul the stature needed to make another run at president in 2011.  While not a “Tea Party” conservative, Paul despises the Obama policy, a prerequisite for a national run.  

            Stepping back into the limelight taking on the Fed, Paul sets himself up as the one candidate willing to challenge the status quo.  “Eventually were going to have monetary reform.  I do not believe the dollar can be the reserve standard of the world,” said Paul, urging the Fed to adopt the gold or silver standard.  Since the 2008 financial crisis, Paul believes the Fed’s actions have weakened the dollar and contributed to eventual hyperinflation already in commodities, like gold, silver and petroleum.  Paul’s controversial views on the Federal Reserve, U.S. tax policy and strictly constructionist view of the Constitution, leave Wall Street nervous.  If there’s any hitch to another run for president, it has to do with Paul’s willingness to challenge entrenched interests and lobbyists closely tied to publicly traded corporations.  If the economy continues to sputter, Paul’s stock will rise.

            Rand Paul’s stunning Tea Party victory in Kentucky hints strongly at another presidential run by his 75-year-old father.  Ron’s astute observations about the U.S. economy and potential fixes draw support from both sides of the aisle.  While still registered Republican, Ron Paul is actually more libertarian in his actual views.  Neither entrenched interests inside the Republican or Democratic parties trust Paul’s natural instincts opposing both political parties.  Bernanke’s federal bailouts, mushrooming national debt and record budget deficits at taxpayer expense led to the rise of the Tea Party movement.  “With a lot of new members coming and problems getting worse rather than better, there’s going to be a lot more people who are going to be looking for answers,” said Ron, offering himself as just the right answer to the economic mess now  facing the country.

.About the Author

John M. Curtis writes politically neutral commentary analyzing spin in national and global news. He's editor of OnlineColumnist.com and author of Dodging The Bullet and Operation Charisma.

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