DeMint Proposes Amendment to Audit the Fed

Palmetto State powerhouse.

With well over 230 co-sponsors on both sides of the aisle in the House of Representatives, Texas Congressman Ron Paul’s effort to force an audit of the Federal Reserve is being led in the Senate by none other than South Carolina conservative Sen. Jim DeMint.

Last month, DeMint became the first Republican senator to support Senate Bill 604, the Federal Reserve Sunshine Act of 2009, and since then has talked extensively on radio and television about the importance of transparency with regard to the Fed. Yesterday, however, he took it a step further, attempting to attach the full text of S. 604 as an amendment to an appropriations bill, but the effort was blocked by Democratic Party leadership in the Senate, which refused to even allow a vote on the amendment.

Such a refusal was rationalized by the argument that DeMint was essentially attempting to legislate on an appropriations bill, a no-no which violates Senate Rule 16, which governs appropriations and amendments to general appropriations bills. DeMint, however, did not waver. He was prepared with a list of several other similar Government Accountability Office audits contained in the appropriations bill, rattled them off one-by-one, and pointed out that using the same argument advanced and embraced by Senate Democratic leadership moments earlier, each and every one of the GAO audits would also run afoul of Senate Rule 16.

By doing so, he forced Senate Democrats to essentially acknowledge that their objection to the amendment was not at all about procedure or Senate rules, but rather about an overt refusal to permit an audit of the organization so graciously and mysteriously assisting the elected left with the advancement of their agenda.

The Federal Reserve has failed to account for nine trillion dollars–that’s $9,000,000,000,000, or approximately $30,000 for every single living man, woman and child–but has never in its history been subject to an audit.

The American people deserve to know what’s going on, and how this opaque institution has squandered our currency and our future. I am delighted to know that Jim DeMint is spearheading this effort in the Senate, and I hope that Republicans ensure that the very same amendment is proposed alongside each and every piece of legislation possible until it is passed.

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Comments

  1. Robert Wallace says:

    This is a critically important bill.

    First – because the Fed needs an audit.

    Second – because the Fed need a reality check.

    Third – because I want to see the vested interests that oppose such a common-sense audit tracked out into the open.

  2. HERE COME THE SUN, DOO DA DOO DOO says:

    Sunshine? What is that????? Isn't that a synonym for transparency? HA

  3. Rix says:

    A round of applause for Sen. Jim deMint! Can anyone argue my point that he is the perfect 2012 candidate? If the bill passes (over Rahm Emmanuel's cold body, no doubt) he will get all the exposure and political weight he needs to start measuring up to the Chair.

    By the way, what do you think about Jim deMint & Ron Paul in 2012? It'd be a conservative candy ticket with not a single weakness area – and if Fed is actually audited thanks to their efforts and a few first-pageworthy facts are discovered, they'll have every Independent and quite a few Democrats in their pocket.

  4. Gail B says:

    That strange noise you hear from down south is coming from Georgia!

    Let's cheer him on, folks! I'm contacting my senators to insist that they support an audit of the Fed.

    YAY! CHANGE WE CAN BELIEVE IN! AUDIT OR ABOLISH!!!

  5. Gail B says:

    Found this about health care–

    http://www.idahopress.com/?2009-07-07-Insurance-access-in-America-doesnt-mean-care-access

    Makes sense!

    Word verify (micidnes) can't spell medicines, though!

  6. Linda says:

    I agree with the DeMint for 2012 rally. Why isn't anyone bringing his name up – maybe not for the top position, but at least for the second position. His efforts for exposure and restoration of our freedom and rights has been stellar.

  7. Anonymous says:

    The Federal Reserve has failed to account for nine trillion dollars–that's $9,000,000,000,000, or approximately $30,000 for every single living man, woman and child–but has never in its history been subject to an audit.

    $9 trillion? Please show your work.

  8. Anonymous says:

    75% of Americans Want To Audit the Fed – Now Thousands Want to Abolish It!

    Read the petition and the angry comments at http://www.petitiononline.com/fed/petition.html

    Thanks,
    Ron

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