RT — Representative Ron Paul decided he won’t be running again for Congress, and instead he will focus his efforts on his presidential campaign. The news is important for many reasons: last year Paul won his seat with more than 80 percent of the vote in his district and would almost certainly enjoy another victory in 2012 if he doesn’t win the Republican nomination for president. The polls aren’t exactly showing him on top, but has has been continuing to make a name for himself so far this election cycle. So despite the naysayers, Representative Ron Paul seems to think the Republican nomination for president could be in his grasp. Ron Paul explains his decision to RT’s Kristine Frazao.

When asked for his thoughts on the crisis over raising the debt ceiling, Ron Paul replies:

Yes, and they have a long way to go because they have no easy answers to this, because they’re trying to solve a problem that they can’t solve unless they change their whole ideas and notions about what government should do. What they don’t want to give up on is being the policeman of the world, they don’t want to give up on being the economic planner and the government’s supposed to run the economy, and that they don’t want to give up on the Federal Reserve. So therefore, they don’t have any answers. And they don’t understand the business cycle. They don’t know that they’re supposed to allow banks to go bankrupt, and they’re supposed to cleanse the system of excessive debt and malinvestment. So they’re just propping it up and they’re buying bad debt and they’re dumping it on the taxpayers, and then they wonder why the recession doesn’t end.