Whatever else you think of Ron Paul, it is entertaining to hear the phrase “Austrian theory of the business cycle” in a Republican debate (though it almost sounded like he said “Australian”–“tie me von Mises down, boys…”?)

[Update at 9:26]

Fred takes off the gloves and finally goes after Huckabee for his NEA endorsement and opposition to vouchers. “That’s not the position of the Reagan coalition. That’s the position of the Democratic Party.”

Huckabee’s response (paraphrased) boils down to, “well, people reelected me.”

Pretty weak tea to make your credentials as a conservative. Lots of Democrats, even very “liberal” ones, get reelected. Fred’s job is to draw a distinction between himself and the Huckster as the only true conservative in South Carolina, and so far, I think he’s doing well. We’ll see if he hits him again.

[Update at 9:42]

Ron Paul is really coming off as the crazy uncle at the holiday dinner, ranting about things that aren’t even relevant to the question. Brit Hume: “Congressman, all your fellow candidates agreed with the passive response to the Iranian provocation. Who or what are you responding to?”

[Update afterward]

A memorable phrase from the consensus winner tonight, Fred Thompson, on immigration: “High fences and wide gates.”

If anyone is inspired by his performance to send him some money in the wake of his performance, he’s looking for it.