Texas Republican Rep. Ron Paul told ABC's George Stephanopoulos Friday that he was officially running for president.

"Today, and at this moment, I'm officially announcing that I am a candidate for president in the Republican primary," he said. "Time has come around to the point where the people are agreeing with much of what I've been saying for 30 years. So, I think the time is right."

"Why not run as an independent, given your differences with the Republicans on so many issues?" Stephanopoulos asked.

"Because we don't have true democracy in this country. We lose lives going overseas, spreading our goodness and great democracy and we orchestrate elections. We don't like them, we void them. We ignore them -- I'm saying -- if we don't get the people we support and the people the CIA supports. But running as an independent here is just about impossible, unless you're a billionaire like Ross Perot. You don't get on the base. If I was an independent, George, you would not have me on this program this morning," Paul explained.

Watch this video from ABC's Good Morning America, broadcast May 13, 2011.

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