Rep. Ron Paul to Chair the Monetary Policy Subcommittee

Great news for fiscal conservatives across the nation broke yesterday in the wake of headlines announcing that Texas Representative Ron Paul has been selected to chair the Monetary Policy Subcommittee of the House Financial Services Committee.

Rep. Paul has been the champion of economic conservatism since his first stint in the House in 1976. Notorious for limiting federal spending and voting against expansionary legislation, his fellow Congressmen have given him the nickname "Dr. No." He has written numerous books on the perils and detriments of an expanded federal core, including the bestseller End the Fed, which dictates his skeptical take on the wrongdoings of the Federal Reserve, concluding with a call to abandon the structure altogether.

Long before the financial crisis of 2008, Rep. Paul advocated for the cessation of taxpayer funding of Fannie Mae and Freddie Mac. He predicted the market crash in 2006, and actively campaigned against the subsequent bailouts. Warning against the implications of the measures taken in 2008 and 2009 to attempt to stabilize the economy, including astronomical inflation and unemployment rates unrivaled since the Great Depression, Paul again proved his competency in the monetary sector, adding to his long resume of economic qualifications for the position.

The next session of Congress will surely benefit from this sensible appointment to the subcommittee. At a time when debt and deficit are instinctively offset by more spending, Ron Paul's voice will pull in the reigns on a federal spending spree that has gone on too long and too far.