Much has already been written and said concerning what the massive Republican gains in the House of Representatives and the Senate mean. I don't intend to add much to these speculations, but I do want to make two observations:
First, the Republicans must stand firmly on the principles they espouse in their rhetoric. If they are going to do any good at all, they must stand in firm opposition to not only all that Obama stands for, but all that the previous GOP House stood for. This requires absolute defiance against the sort of spending they've grown accustomed to. This means near-austerity measures in spending cuts. This also requires constantly harassing President Obama and the Senate with bills intended to repeal a century's worth of cancerous government growth. The GOP House must also firmly oppose the Federal Reserve and seek to audit it along with the gold reserves of Fort Knox. We must move toward the abolition of the Federal Reserve.
Secondly, the Republicans must demonstrate goodwill toward Ron Paul and give him the chairmanship of the House Finance Committee. As Lew Rockwell writes:
If the Republicans weren’t dishonest, and entirely in the pocket of the big banks, Ron Paul would be taking Barney Frank’s place as chairman of the finance committee. Not satisfied with blocking him there, they have even kept him out of the chairmanship of the monetary policy subcommittee, as Barney has frequently remarked. The first time the Republicans erased Ron’s seniority; the second time, they imported a congressman from another committee to take the job; the third time, they temporarily abolished the subcommittee. This time, I think they would fear the backlash, so Ron will probably be chairman. If so, I can’t wait for his hearings on the QE2, the gold, the business cycle, and much else.
Giving the chairmanship to Paul will demonstrate that they are truly reformed and that they are serious about fixing government and holding the Federal Reserve accountable.
I'm not optimistic about the Republican House being able to accomplish much. But they are in a position to be a roadblock to the forces that would bring ruin upon our nation. If they so choose, they are in a position to bring the government to a standstill and hold the nation's purse strings firmly closed to those that would redistribute government largess to their benefactors.
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