We should not expect any of this to happen unless the people and the Congress decide that free-market capitalism and sound money are preferable to a welfare state and fiat money. Whether this downturn is the one that will force that major decision upon us is not known, but eventually we will have to make it. Welfarism and our expanding growing foreign commitments, financed seductively through credit creation by the Fed, are not viable options.

Transferring wealth to achieve a modicum of economic equality and assuming the role of world policeman, while ignoring economic laws regarding money and credit, must lead to economic distortions and a lower standard of living for most citizens. In the process, dependency on the government develops and Congress attempts to solve all the problems with a much more visible hand than Adam Smith recommended. The police efforts overseas and the effort to solve the social and economic problems here at home cannot be carried out without undermining the freedoms that we all profess to care about.http://www.house.gov/paul/congrec/congrec2002/cr020702.htm

Text of Ron Paul's speeches and statements in the House of Representatives. (Listed most recent first, major speeches in bold, large type.) http://www.house.gov/paul/congrec/welcome2002.htm