Audit the Fed bill close to vote

UPDATE: The bill passed, but is probably DOA in the Senate.

It’s not only the Department of Defense that keeps many of its activities highly secrets. Since its founding in 1913, the Federal Reserve has never been completely accountable to the American people, despite its policies helping to devalue our dollar and wreck our economy.

Current law even goes so far as to prohibit Congress from fully auditing the Fed. What other public of private agency has such protection? People scream about business and banks being unaccountable, yet we tolerate a massive federal agency’s secret manipulations which are destroying our economy.

Rep. Ron Paul (R-Tex) has been on a quest to audit the Fed. His bill,  H.R. 459, the Federal Reserve Transparency Act, could come up for a vote at any time! Audit the Fed bill would empower the people’s representatives to get the full story on what the Fed has been doing with our money.

The bill is being considered under a “suspension of the rules” process, which means it can’t be changed but will need a 2/3 majority to pass. That is a considerable obstacle.

Take action now. Click here to contact your representative and demand they vote yes to Audit the Fed.

Another Congressional Re-Run

When I was growing up one of the things I enjoyed about summer was TV re-runs. I could catch up on missed episodes of my favorite programs, particular The Twilight Zone and Star Trek (the original) and watch the best episodes again.

TV doesn’t operate that way anymore. But the U.S. Congress does. In fact, it has re-runs all year round. Right now, we’ve witnessing the re-run of another economic “crisis” manufactured by the inability of the power parties to avoid the sequestration of Defense Department funds which will supposedly occur if they don’t reach an agreement over the extension of tax cuts.

“Some members of Congress are anxious to undo sequestration, ignoring the inconvenient fact that they created the process in the first place,” writes Christopher Preble in Cato@Liberty. “Instead of accepting responsibility, they are proposing legislation that would force the White House to outline the effects of the cuts. And people wonder why Congress’s approval rating is at an all-time low.”

Sen. Patty Murray says Democrats won’t agree to a deal that “throws the middle-class families under the bus.” They want the wealthy to pay their “fair share.”

Republican leader Sen. Mitch McConnell replies that Democrats are playing “a high-stakes game of chicken with the single-minded goal of taking more money from the people who earn it for the government to waste.”

It is disgrace that exchanges of fear-mongering clichés like this are what poses as political discourse in the Congress today. Both major parties ought to be ashamed of themselves, but unfortunately, they lack the underpinning of a moral belief system needed in order to feel shame.

For the record, I agree with Mr. Preble’s title: Let sequestration happen. It’s not the best way to cut the bloated defense budget, but it appears it’s the only way it can happen.