Blogs: Kathleen M. Packard
As heard on Lou Dobbs Tonight, the evening of May 24, 2011:
Lewis E Lehrman stated:
"...this problem of eliminating the budget deficit of a trillion and a half dollars is something that cannot be done overnight. The proposal by Paul Ryan was very dramatic, one Republican called it radical, (was) not happily received. The solution of course is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy."
Reuters reports on Thursday's House Committee Monetary Policy Hearings:
Rep. Paul renews uphill push to abolish Fed
Reuters -- March 17, 2011
* Fed critic Paul renews push to eliminate central bank
* Paul says inflation hits lower-income groups hardest
* Experts before Paul panel urge return to gold standard
WASHINGTON, March 17 (Reuters) - Representative Ron Paul, a persistent critic of the Federal Reserve, on Thursday renewed his uphill fight to abolish the U.S. central bank, warning it is on track to create an inflation that will hit lower-income Americans especially hard.
The Texas lawmaker has long championed dismantling the Fed, but at a hearing on Thursday slammed its $600 billion bond buying program, which he said was creating inflation and undercutting the dollar. This week he introduced legislation abolishing the Fed.
BY KATHLEEN M. PACKARD: