If the Republican presidential nomination was awarded based on prescience, Paul would be the clear frontrunner. Long before the financial crisis of 2008, he had been warning about a housing bubble, about the enormous potential cost of taxpayers backstopping Fannie Mae and Freddie Mac, and about the dangers that cheap credit was posing to the economy. Back when people were lionizing Alan Greenspan as the maestro, Paul was the chief critic of the Federal Reserve. The economic collapse came too late to generate any momentum for him in the last Republican presidential primaries. Although he raised an impressive sum and amassed legions of online followers, he never seriously threatened John McCain in the race for the Republican nomination. Today, Paul looks increasingly vindicated. Not only did he warn of the crisis, he has also set the pace for his fellow Republicans in responding to it, although few credit him for this. Paul was preaching fiscal austerity and draconian budget cuts when his colleagues were helping George W. Bush add an expensive new Medicare drug entitlement. Now they all sing from Paul’s hymnal, although none can touch his record of casting deeply unpopular votes against spending. Paul once voted to deny Mother Teresa the Congressional Gold Medal because he didn’t think the government should have to pay for it.