Ron Paul for President in 2012?

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BY ALANA YOUNG ANCHOR MEGAN MURPHY You're watching multisource politics news analysis from Newsy Self-...
BY ALANA YOUNG ANCHOR MEGAN MURPHY You're watching multisource politics news analysis from Newsy Self-proclaimed “constitutionalist” and Tea Party favorite Congressman Ron Paul is launching a presidential exploratory committee -- the first step toward an official run for the White House in 2012. The three-time presidential hopeful announced his intentions on Sean Hannity’s Fox News show, and outlined his views on the 2011 budget, entitlement programs, foreign policy, and recent widespread fear of “sharia law.” RON PAUL: “If you’re a good libertarian conservative, you’re a constitutionalist, and I believe all the writers in the constitution were very libertarian in the conventional sense -- they want less government..." RON PAUL: “I would cut a lot of the spending overseas. I mean, we have too much stuff. And why do we support Obama going into Libya and all this stuff? It’s just way too much. We could cut a lot.” RON PAUL: “...Can I close down the FED? Not as a President you can’t. But you could lead the charge on this... Congressman Paul didn’t exactly fare well in ‘08. So some question the likelihood of his success in 2012. But Bloomberg News editor Al Hunt says, don’t count Paul out just yet. AL HUNT: “...Look, Ron Paul had a constituency last time. He will have a constituency in this time. If he gets in, he will be a factor, he will not be the nominee. People talk about Ron Paul and the Tea Party. Let me tell you about the Tea Party. It is very diverse. It includes anti-government libertarians, it includes some social conservatives, it includes some anti-immigrant nativists, and they’re all over the lot on issues like trade and national security, so I do not think anyone will have a lock on that. But Ron Paul will be a factor.” Politico’s Andy Barr agrees, and says Paul’s connections with the Tea Party will work in his favor -- even if he is a - quote - “clear underdog”. “Paul's libertarian stands … have become the inspiration for much of what the new Republican majority in the House has pushed... If he eventually enters the race, Paul will have a direct claim to the tea party mantle, especially in the absence of a fresh face that excites grassroots conservatives.” Finally, a writer for the conservative website Moral Liberal, says Congressman Paul won’t win the 2012 election -- but adds, Congressman Paul should be commended for his commitment to unpopular libertarian ideas on government control and the Federal Reserve. “...He knows he does not stand a chance, but he will be there again debating and defending the Constitution and the original intent America was built upon: neutrality in foreign policy, small federal government that provides for national security and uniform rules for trade across the Great States. Ron Paul is a man of principles, true believer, and public servant who never stops working to spread the libertarian message...” Congressman Paul recently published a new book, entitled “Liberty Defined”, and is also the founder of the advocacy group “Campaign for Liberty”. 'Like' Newsy on Facebook for updates in your newsfeed. Get more multisource video news analysis from Newsy. Transcript by Newsy.