The media response to the appointment of Rep. Ron Paul (R-Texas) to the chairmanship of the House Domestic Monetary Policy Subcommittee has been swift and — somewhat surprisingly — mostly positive. Perhaps it is due to the fact that public opinion has been turning against the Federal Reserve, Paul’s longtime target that is overseen by his subcommittee.
It’s official: Texas Congressman Ron Paul will be the Chairman of the House Subcommittee for Domestic Monetary Policy and Technology when the 112th Congress convenes in January. Rep. Spencer Bachus of Alabama, who is slated to be the Chairman of the House Financial Services Committee, of which the Monetary Policy Subcommittee is a part, announced Paul’s appointment as chairman of that subcommittee on December 9.
On Wednesday night, the United States House of Representatives approved a $1.1 trillion continuing resolution (CR) that will fund the federal government through September 30, 2011. A Continuing Resolution was Congress’ last resort as it failed to pass any of the 12 appropriations bills for fiscal year 2011, as well as a budget resolution.
Will Tuesday be Ron Paul’s big day? Robert Wenzel of EconomicPolicyJournal.com thinks so, as does Paul confidant Lew Rockwell. On December 7 the Republican leadership in the House of Representatives is scheduled to announce the chairmen of various committees and subcommittees, including the Subcommittee for Domestic Monetary Policy and Technology, of which the Texas congressman is currently the ranking Republican member.