Wikinvest Wire

Will Ron Paul vote against auditing the Fed?

Tuesday, December 08, 2009

The Washington Post reports in this flattering piece about Rep. Ron Paul (R-Texas) that, tomorrow, the Congressman is likely to vote against the bill that contains his very own legislation to audit the Federal Reserve.

First elected to Congress in 1976, Paul has earned the nickname Dr. No from colleagues for his record of voting against almost anything he sees as intruding on free markets or amounting to government overreach.

He was one of only a few Republicans to vote against the war in Iraq. He opposed federal aid to Hurricane Katrina victims. He has called for abolishing the Internal Revenue Service, and during his career as an obstetrician-gynecologist in Texas, Paul saw some patients for free rather than accept Medicare or Medicaid, he recalled. None of his five grown children took out federal student loans.

Paul's principled, outside-the-mainstream stance has left him with few legislative victories. Of the nearly 200 bills Paul has proposed in the latest three congressional sessions, only two have made it to the House floor. His Fed audit bill, now part of broader legislation overhauling the regulation of financial markets, is by far the most popular.
Despite his unusual success in advancing the proposal, however, Paul is unlikely to cast a rare "yes" vote for it. That's because it is part of the bill proposing broad new financial regulation, something Paul simply cannot approve.

"That's my tradition," he said. "I won't vote for a bill that's a disaster because 1 or 2 or 5 percent of it is an improvement."
You've got to admire a guy who sticks by his principles - I wonder if he voted for his only other bill that made it to the House floor.

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Donn said...

It is called morals and honesty, somethings that are non-existant in Washington today.

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