Thursday, June 11, 2009

STATUS REPORT: Ron Paul's Audit the FED Act, HR 1207 and S 604

Well, Dr. Paul has tried for some time to audit and limit, even abolish, the Federal Reserve. The hallmarks of Dr. Paul's twenty years in Congress are common sense bills that have been mostly ignored as our past Congresses and the Federal Reserve led us down the path to economic ruin. However, what happened next in the House is amazing - HR 1207 now has 207 co-sponsors, close to a majority!

Q: "What is the gravest threat to the bill?"

A: I happen to believe that if this bill can be approved by Congress and delivered to the President, he would sign it per all of his rhetoric about an open government and transparency. A win in the House now appears likely, so I would say the gravest threat is that the bill will die in the Senate. Senator Bernard Sanders (I-VT) has sponsored S 604, the "Federal Reserve Sunshine Act of 2009." The text of the bill is currently identical to HR 1207, but Sanders has zero co-sponsors.
Therefore, activists should target their U.S. Senator's offices. I recommend using DownsizeDC's "Audit the FED" Campaign to thank or urge your representative and Senators to co-sign this bill. However, writing directly to your Senator's office and placing a phone call are also recommended. FULL STORY

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