Tuesday, June 30, 2009

Persistence does indeed pay off

Ron Paul (R, Texas) is gaining sudden popularity in Congress. Why?

The libertarian/constitutionalist who was for the longest time disregarded as a crackpot by fellow party members not has "the GOP House leadership on his side -- backing a measure that generated paltry support when he first introduced it 26 years ago. Paul, as of Tuesday, has won 245 co-sponsors to a bill that would require a full-fledged audit of the Federal Reserve by the end of 2010" (FOXNews.com) due to fears of overspending, the exercise of poor monetary policy, and Obama's federalization of the financial industry.

Simply put, Obama and Capitol Hill democrats in the last 5 months spent trillions of dollars, increased regulation, and gave more authority to federal agencies which would make Lennin and Marx smile in their graves. Republicans are seeking transparency - an ideal stressed by Obama while running for office but has thus far become a false campaign promise. "If they give them a lot more power and there's no more transparency, that'll be a disaster," Paul said.

The bill (The Federal Reserve Transparency Act) would call for the comptroller general in the Government Accountability Office to audit the Fed and report those findings to Congress. The GAO's ability to conduct such audits now is severely restricted.

The current status of the bill is that it is sitting, collecting dust on the desk of the House Financial Services Committee. If you need to ask why it's just collecting dust, take a look at the two most powerful members of this committee who are stalling this bill from moving it forward: Osama Bin Kanjorski (Paul Kajorski, D, PA-11) and Barney (Barney Frank, D, Mass). Both are responsible for destroying the economy.

3 comments:

Kevin said...

See where Al Franken is now a Sentor. Got a call today from the NRC wanting money. After their slap in the face candidates in 2008--let's be nice and all get along--I'm tired of wishy-washy RINOS running in the Republican races. I'm tired of RINOS in congress playing nice. I'm tired of RINOS period. I'm ready for the US to go through a horrible depression caused by the outlandish spending of the Democrat Congress and approved by Obama. The good times are over for the middle-class idiots who do not understand economics, politics, or commerce. The ones who will get hurt the most will be those who voted for the Democrats, because they are the ones who suck from the government teat. The free market people will WORK, no matter who is in office. They will work and be successful DESPITE government regulations, higher taxes, and unnecessary social programs. I'm really pissed off. Left and Right Coast and major metropolitan areas--you deserve what you get with the Democrats in charge.

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