How many times have you been told that fighting for a cause you hold dear won’t make any difference in Washington? That politicians will do what they want, and we’ll just have to keep dealing with it?
As someone who believes the Constitution matters, and liberty isn’t a whim the Founders acted on while they were bored one day, I’ve certainly heard more than my fair share of that familiar tune – even after I was elected to the U.S. Senate, which some also claimed could never happen!
But for those willing to keep an open mind on what’s possible, let me point to a bill called the Federal Reserve Transparency Act — more popularly known as “Audit the Fed.”
You can print this legislation out on only four pages (which I think would be a much better standard on Capitol Hill than the library that is the tax code or other “major” legislation), but what’s contained in those few words has sent the establishment’s head spinning, since passing it would go down as a momentous victory for accountability and transparency.
Audit the Fed removes the restraints on how the nonpartisan, independent Government Accountability Office (GAO) can audit the Federal Reserve System, requiring the GAO to conduct an audit within one year of the bill’s passage and report back to Congress within 90 days of finishing it.