“Enough is enough,” Mr. Cruz said in a statement. “The Federal Reserve needs to fully open its books so Congress and the American people can see what has been going on.” (NYTimes)
Senator Paul spoke after presenting the bill to the Senate last Wednesday:
“A complete and thorough audit of the Fed will finally allow the American people to know exactly how their money is being spent by Washington. The Fed currently operates under a cloak of secrecy and it has gone on for too long.” (The Blaze)
While the Fed does indeed publicly publish some financial information, there is no in-depth release of information regarding what the Fed does to best help Americans. And obviously, knowing what the heck the Fed is up to would be fantastic, because the decisions made affects the average living cost for all Americans.
Now, with the help of 30 other senators as co-sponsors of the bill, Senator Paul just might be able to audit the Fed and move one step closer to accomplishing a conservative’s dream of political and financial transparency in D.C.
“People need to start caring,” writes Jeff Spross on The Week. “Paul’s bill is as good an opportunity as any. “
Written by K. Montgomery
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