Paul blends conservatism, libertarianism in pitch to voters

ORLANDO -- Ron Paul's fiery libertarian rhetoric drew warm reaction at Orlando's Conservative Political Action Conference Friday as he offered a scathing critique of the federal government and promised to "restore the greatness of America."

Despite his dire warnings about America's troubles, the Texas congressman portrayed himself as optimistic. "We have a lot of major problems in this country, but you know what? There's a revolution going on in this country," he said.

Paul's remarks beganwith a diatribe about 1913, the year the income tax and the Federal Reserve were born. Paul argued that understanding financial history is essential to understanding the nation's power structure.

"If you're against big government, you have to understand the monetary issue," he said. "There's a group up in Washington that loves to spend endless money against militarism." That hasn't made Americans any safer, argued Paul as he segued into a well-received pitch to bring American troops home.

Paul also offered a harsh critique of government bailouts, arguing that they benefit the rich and that Washington should have allowed troubled Wall Street investment firms to go bankrupt.

"Personal liberty is the issue that the founders delivered to us and we have unfortunately rejected it," he said.

Below, watch highlights from CPAC in Orlando: