You and Gov. Palin agree.
For the most part I agree with Palin except she is spotlighting the wrong area on the stage. It’s Congress behind the curtain that needs exposure.
Congress gives its approval to the Federal Reserve actions by raising the debt limits. Congress already exempted the Federal Reserve from a complete audit by law so using the chairman of the Federal Reserve as a whipping boy is pointless when it is in Congress’s power to amend, change or make new law concerning oversight of the Federal Reserve. So to the US Treasury. If Congress was dead serious on any matter, they wouldn’t even need a President’s signature.
They have no problem wasting time and money mandating health care when they should be concentrating on monetary reform.
The House can prevent a higher debt ceiling by refusing to pass the necessary legislation. However, the Fed is already funding the deficit by printing money, to the extent of $75 billion of a total $110 billion per month. If the Fed is printing money, then the Treasury does not need a higher debt ceiling. The House is impotent on the Fed’s activities until, hopefully, 2012.