Some of you may know U.S. Rep. Ron Paul from Texas wrote some legislation in Februar, on bill H.R. 1207 to allow the Government Accounting Office to audit the Federal Reserve. The Senate also has a version on their bill S. 604.
H.R. 1207 is presently sitting in the House Finance Committee, chaired by Rep. Barney Frank. There has been an accumulation of 282 congressional co-sponsors from both parties to this legislation. The accumulation of co-sponsors/supporters on the Senate version is currently 23.
This legislation is not like many others that have pages and pages, the Audit the Fed legislation can be read in less than five minutes. So even for the busiest member of Congress, not reading it is simply unacceptable! Basically what this legislation says is we the people, as taxpayers, get audited yearly for every dime we make. Therefore, we the people want to see the Federal Reserve held to the same standards.
We the people have a right to see where our tax money is going. This is not about partisan politics, this is about common sense. This is about your right as a taxpayer to see where your money is going. This is about members of Congress demonstrating they are in favor of government transparency.
Rep. Frank recently announced that the Finance Committee will begin hearings on this legislation. Please put the pressure on your congressman, Sens. Klobuchar and Franken to support this legislation, insist that we get a stand-alone, roll call vote so it does not get watered down and stuck on the bottom of some meaningless bills.
Take a minute, each day to make a call, send an e-mail or a fax. It will be for your own benefit. When the Fed knows it will get Audited, it may all of a sudden require less of your tax money!
Cottage Grove, Minn.