Ron Paul Appointed Chairman of Domestic Monetary Policy Subcommittee

Washington, D.C. - Congressman Ron Paul has been appointed to head the Domestic Monetary Policy Subcommittee of the House Financial Services Committee in the 112th Congress. The subcommittee has jurisdiction over monetary policy, currency, commodity prices, and matters related to the Federal Reserve Bank generally.

Congressman Spencer Bachus, incoming Chairman of the Financial Services Committee, announced Paul’s appointment today:

“Congressman Paul has been a leading voice in Congress on the topics of monetary policy and the Federal Reserve,” Bachus stated. “His commitment to sound money and free-market principles will serve him well as Chairman of the subcommittee.”

“I’m very pleased and excited about being named Chairman of the subcommittee,” Paul stated. “I first ran for Congress in the 1970s because I was concerned about inflation and the dollar. I believed then- as I do now- that unchecked monetary expansion posed great risks for the American economy and our standard of living. In the decades since, we have seen how expansion of the money supply by the Federal Reserve has eroded the value of our dollar. We also have seen how the Federal Reserve, in concert with Congress, has enabled the Treasury to incur almost unbelievable amounts of debt.”

Paul is well known as the author of comprehensive legislation to audit the Federal Reserve Bank, with the goal of providing both taxpayers and world financial markets with full transparency of U.S. central bank actions.

As chairman, Paul expects to hold regular hearings with Federal Reserve Bank officials, including Federal Reserve Chairman Ben Bernanke. He also plans to solicit testimony from prominent economists concerning both monetary policy generally and Fed actions in particular.###

For Immediate Release December 9, 2010

TEXT CREDIT: paul.house.gov Washington, DC. 203 Cannon House Office Building. Washington, DC 20515 Phone Number: (202) 225-2831

IMAGE CREDIT: CongressmanRonPaul

Randy Altschuler this morning conceded the race for New York's 1st Congressional District

Thank You! Randy Altschuler, Republican/Conservative candidate, this morning conceded the hard-fought race for New York's 1st Congressional District seat.

With approximately 977 absentee ballots left to be counted, unofficial numbers showed four-term Democrat incumbent Congressman Tim Bishop with a 263 vote lead over Altschuler, with a total of more than 194,000 votes cast. The 1st Congressional District was the last undecided House seat in the nation.

Additionally, the Altschuler campaign dropped its legal challenges to the remaining uncounted absentee ballots. This will allow the Suffolk County Board of Elections to count the remaining ballots. While the Altschuler campaign has uncovered numerous instances of absentee ballots that may have been unlawfully cast, the campaign is confident that the proper authorities will take the appropriate action concerning them and that their number is too small to alter the outcome of the election.

Randy Altschuler said, "After consulting with my family and campaign staff, I am ending my campaign and offering congratulations to Congressman Tim Bishop on his victory.

"Although Newsday, The New York Times and the Bishop campaign have all called for a hand recount of all the ballots cast on Election Day, I will not support such an action as I feel its cost will place an unnecessary burden on the taxpayers of Suffolk County.

"This was a very close election, and I want to thank everyone who was involved. Let me assure each and every one of my supporters, including my volunteers, donors and campaign staff, that your hard work, friendship and generosity will never be forgotten.

"I also want to thank the voters of Suffolk County. You proved that every vote does count and why it is so important that all Americans participate in our electoral process.

"I entered this race because I was worried about the future of our nation. The problems America faces are many and will not be easily solved. I plan to stay active in politics and continue to speak out on the issues that affect the residents of Suffolk County, our state and our nation. Those issues include high taxes, runaway spending and an ever-growing deficit. I intend to play an active role in building the Republican and Conservative Party voices in both Suffolk County and New York State." # # #

TEXT CREDIT: Randy Altschuler for Congress

IMAGE CREDIT: teamaltschuler