While admitting a transition to what he views an “ideal society” won’t be quick or simple, Paul’s economic prescription includes:
- Allowing bankruptcies to occur vs. rewarding failure with bailouts.
- Stop inflation by dismantling the Fed and returning to the gold standard.
- Encourage savings and liquidate debt.
- Deregulate.
- Give tax credits to those who take care of themselves, or the doctors who provide their care.
- Cut government spending, especially on international endeavors. “We spend hundreds of billions of maintaining our empire around the world. Let’s bring that money home,” he says.
These recommendations will be familiar to anyone who followed (or supported) Paul’s run for the Presidency in 2008. Given all that’s transpired in the past year, one suspects he’d be getting a lot more votes if the campaign were happening today.
