Rand Paul: “dealing with the slumping economy will prove every bit as challenging to the Congress as fighting terrorism. No one…”

“dealing with the slumping economy will prove every bit as challenging to the Congress as fighting terrorism. No one challenges the need to protect American citizens from further terrorist attacks, but there is much debate throughout the country as to how it should be done and whether personal liberty here at home must be sacrificed. Many are convinced that our efforts overseas might escalate the crisis and actually precipitate more violence. A growing number of Americans are becoming concerned that our efforts to preserve security will result in the unnecessary sacrifice of that which we have pledged to protect, our constitutionally protected liberty. A similar conflict also exists once government attempts to legislate an end to a recession. In the 1970s, wage and price controls were used to suppress price inflation and to help the economy without realizing the futility of such a policy. Not only did it not work, the economy was greatly harmed. Legislation per se is not necessarily harmful; but if it reflects bad policy, it is. The policy of wage and price controls makes things worse and represents a serious violation of people's rights. Today, we hear from strong advocates of higher taxation, increased spending, higher budget deficits, tougher regulations, bailouts and all kinds of subsidies and support programs as tools to restore economic growth.”