Ron Paul: Don't vote for Dems or GOP- endorses third party candidates

WASHINGTON (CNN) -- Republican Rep. Ron Paul of Texas called on voters to back a third-party candidate for president Wednesday, rejecting his party's nominee and offering equally harsh words for the Democratic candidate.

Rep. Ron Paul attacks the two-party system Wednesday at the National Press Club in Washington.

Paul, who unsuccessfully sought the Republican presidential nomination this year, told supporters at the National Press Club in Washington that he is not endorsing GOP nominee Sen. John McCain or Democratic nominee Sen. Barack Obama.

Instead, Paul will give his seal of approval to four candidates: Green Party nominee Cynthia McKinney, Libertarian Party nominee Bob Barr, independent candidate Ralph Nader and Constitution Party candidate Chuck Baldwin.

Paul said he's supporting the third-party candidates because the two major parties and media had "colluded" to avoid discussing issues and falsely presenting the difference between McCain and Obama as real.

"I've come to the conclusion, after having spent many years in politics, is that our presidential elections turn out to be more of a charade than anything else, and I think that is true today. It is a charade," he said.

Paul offered an open endorsement to the four candidates because each signed onto a policy statement that calls for "balancing budgets, bring troops home, personal liberties and investigating the Federal Reserve," an aide to the congressman said.

Paul said a strong showing by the third-party candidates would express the public's frustration with the current system.