Posted on 06/30/2009 6:46:35 AM PDT by BGHater
He may have faded from the national political scene a year ago, after his dark-horse presidential run came to naught, but Rep. Ron Paul ’s influence is still being felt in campaigns and policy debates across the country. Indeed, the latest legislative priority of the libertarian Texas Republican — auditing the Federal Reserve — has gained support in unlikely quarters.
Paul’s legislation, popularly known as the “Audit the Fed” bill, has drawn 244 cosponsors, ranging from Ohio’s John A. Boehner , the conservative Republican floor leader, to Michigan’s John Conyers Jr. , the liberal Democratic chairman of the Judiciary Committee. Some Democrats have even picked up on Paul’s rhetoric. “It’s time to yank the shroud off the Fed and shine some light on these events,” New York Democrat Edolphus Towns , chairman of the Oversight and Government Reform Committee, said at a hearing last week about the shotgun marriage between Bank of America and Merrill Lynch last fall to stave off the latter’s collapse.
Paul’s efforts have only gained in political significance since the Obama administration unveiled its proposal to give the Fed new powers over the financial regulatory system.
At the heart of Paul’s anti-Fed crusade, as well as his other ventures, is the grass-roots lobbying organization Campaign for Liberty, a home base for his fervent band of presidential supporters. The organization was launched just over a year ago with cash left over from his bid for the GOP nomination. The 501(c)4 non-profit group claims a quarter-million members and says it has 20 full-time employees and coordinators in all 50 states.
According to spokesman Jesse Benton, Campaign for Liberty has raised approximately $3 million so far this year and plans “to spend millions of dollars educating as many Americans as possible on monetary policy.”
Paul is the organization’s honorary chairman, and though he has no official day-to-day duties, “we consult with him on every major move that we make,” Benton said.
Paul’s imprint is also seen on the 2010 campaign: At least five prospective candidates for the House and Senate are being dubbed the next generation of the Ron Paul movement, including his son and fellow physician Rand Paul. The younger Paul is considering a run for the Senate in Kentucky if incumbent Republican Jim Bunning decides not to run again.
But the potential candidate generating the most interest among Paul’s followers is Peter Schiff, who might join the increasingly crowded filed of Republicans wanting to take on Democratic Sen. Christopher J. Dodd in Connecticut.
Schiff, a financial commentator on cable news and president of the investment firm Euro Pacific Capital Inc., was an economic adviser to Paul’s presidential campaign and espouses many of Paul’s free-market principles.
RP is correct.
He’s right. It will only work if it is a completely honest non-partisan audit though.
Agreed!A non-partisan audit would uncover some missteps and misdealing that would be the downfall of many. In and out of the FED.
Conyers is acting out of ‘fear’ maybe, hoping not to be painted with his wife’s paintbrush. Trying to be the concerned congressman, concerned for his constituents.
Here are the 6 republicans who have not signed it-
1 Gallegly, Elton R CA
2 Diaz-Balart, Lincoln R FL
3 Kirk, Mark Steven R IL
4 Rogers, Harold R KY
5 Emerson, Jo Ann R MO
6 Sullivan, John R OK
Maybe some phone calls to your rep if he is on this list.
It’s all well & good that this seems to be doing well in the House, but what about the SENATE? I’m not so sure if this has gained any traction over there, has it?
The fed should be eliminated due to the fact that it has never been audited.
Fed up.
They don’t have time to read the atrocity of radical leftist bills they are shoveling through now, or ANSWER to the firing of IG Walpin (because Walpin dared reveal one of obama’s slush funds,) or answer to ALL of obama’s campaign lies, false promises, flip flops and lies of transparency... muchless stop to do an audit of obama and pelosi and the backyard gang.
S604 in the senate
Sen. Bernard Sanders [I-VT]hide cosponsors
Cosponsors [as of 2009-06-26]
Sen. David Vitter [R-LA]
Sen. Jim DeMint [R-SC]
Sen. Michael Crapo [R-ID]
Dunno..me thinks the Senate will water it down.
While they’re at it audit Fort Knox. I want to know how much gold is there.
it should be eliminated because it is anathema to a free market
And have Gerald Walpin conduct the audit.
Great idea. We may hate what we find or rather, don’t find.
John Conyers is in favor of this????? WOW!
Well-stated.
This federal reserve crap has been around since 1913. An audit requirement should have been in force since 1914. Funny how that works—
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