FLASHBACK: Ron Paul: Next President Of The USA?

WASHINGTON (CNN) -- Rep. Ron Paul, R-Texas, announced Monday that he will seek the GOP presidential nomination.

Paul, who ran for president in 1988 as the Libertarian Party nominee, made his announcement on C-SPAN's call-in program "Washington Journal." The congressman established a presidential exploratory committee with the state of Texas in January, and will create a federal campaign committee today, according to his campaign.

He was elected to his 9th full term in November 2006, and has served in Congress off and on since 1976.