Audit the Fed

Jillian Bandes | August 19, 2009 2:42 PM

Ron Paul's bill to audit the Federal Reserve (HR 1207) is gaining a ton of steam. With 282 co-sponsors in the House (that's 64% of the ALL Members of Congress) and 32 co-sponsors for a sister bill in the Senate, things are only looking up for a piece of legislation that should've been on the books long ago.

The Fed has autonomy because of worries that its operations will become politicized -- that monetary policy will be subjects to the whims of the party in power, and everyone's books will be thrown out of whack. But at the time of the Fed's creation in 1913, the federal budget comprised barely 8% of the total U.S. GDP -- today's budget is over 40% of GDP. So Paul is right on target when he explains:

...they have more money and more control over our lives and your dollars and your future...and you don't have any right to know anything about it because I can't even get information. It has to come about as the result of legislation like this.

Follow his lead and contact your local representative about this bill if they haven't already become a co-sponsor...