UPDATE: September 25, 2009 7:30am CT.
To watch the action live, click here. I really do hope this passes without being added appended to some overall financial regulations bill.
On Friday, September 25th the House Financial Services Committee has scheduled a full committee hearing on Ron Paul’s HR.1207 to audit the Federal Reserve. The hearing is slated to begin at 9am eastern time. For details and a link to the (eventual) live streaming video of the hearing check out the committee website.
As with many of these committee hearings the schedule is tentative and right now there are no witnesses listed.
By now we know what the opponents of the bill will argue, but it doesn’t change the fact that the bill has over 290 bipartisan cosponsors and 75% of the American people want a Fed audit.
The conditions are ripe for passing some form of Federal Reserve audit. Rahm Emanuel has been criticized for not wanting to allow our economic “crisis to go to waste”. In turn, Obama has largely been capitalizing on his honeymoon in popularity coupled with the economic crisis to push his agenda through Congress. The health care debate has stifled that strategy for now.
Without the economic crisis I doubt Ron Paul’s Fed audit bill would have more than 290 cosponsors. So, in a way, Ron Paul is not letting this crisis go to waste either. It is a perfect bill for the America we live in today.
It is Ron Paul’s job to convince others that his bill would not allow Congress to interfere with monetary policy. This is the lone argument against his bill and it’s quite a weak argument.
Friday’s hearings mark a major battle in the long term effort to “End the Fed“.
Source: Liberty Maven