Sunday, Nov. 13, 2011 | 2:02 a.m.
With respect to Anjeanette Damon’s column about Ron Paul in the Sun on Tuesday, “Ron Paul’s message of fiscal restraint may fall flat in recession-weary Nevada,” she states perhaps his prescription for fixing the (economic) situation — let the crisis run its course until the market can restore balance — may not be enough to draw a bigger following.
If President Barack Obama had done absolutely nothing, we would be much better off. Unemployment, housing and the economy in general would still be the same, but with one big difference: We would not have the huge deficit from his stimulus package, making it much easier for our economy to recover. Also, our credit rating would still be AAA.
When the market collapsed in October, 2008, under G.W. Bush’s term, he immediately stabilized the financial market by backing the banks with the necessary funds. By the time Obama took office things had long settled down. There was no need for passing the stimulus bill, especially without it being read by Congress.
Don’t knock Ron Paul. His solution of eliminating a whole host of unnecessary government agencies, returning to the gold standard, and letting the market come back on its own is exactly what is needed. Returning to the gold standard would prevent our government from simply printing more and more money at will.