View Full Version : American Thinker: 3/4 of Congressmen Support Auditing the Fed, so Why Isn't It Law?

07-25-2010, 08:00 AM
Three-Quarters of Congressmen Support Auditing the Federal Reserve, so Why Isn't It Law? (http://www.americanthinker.com/2010/07/three_quarters_of_congressmen.html)

You would think that a bill supported by nearly three-quarters of the legislature should be a breeze to become law. Not so in today's House of Representatives. The legislative system has become so convoluted and corrupted that not even the legislators know what is in the bills, where the bills are being written, or what bills are pending. Given the current system, it should come as no surprise that a bill which would allow the Congress to audit the Federal Reserve should be stalled in a committee and will soon die.

H.R. 1207, the Federal Reserve Transparency Act of 2009, was introduced in February of 2009 by Rep. Ron Paul (R-TX) and has gained an astonishing 320 cosponsors, which represents just over 73% of the 435 members of the House of Representatives -- a number sufficient to surpass even a presidential veto. The bill is atypical of most congressional legislation in that it is just three pages with a single goal, devoid of pork, side projects, or other unsavory trappings of the legislative process. The bill simply requires the Board of Governors of the Federal Reserve to submit a full audit of their activities to Congress before the end of 2010. This is in stark contrast to the very limited audit powers that the General Accounting Office (GAO) has currently over the Federal Reserve. Knowing the simplicity and the obvious support the bill has, it should be a breeze to zip through Congress -- but Congress simply no longer functions. [...]

It functions, just not in the best interests of the People.