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CQ Politics: Ron Paul’s ‘Audit the Fed’ Bill Gathers Steam 6-29-09

June 29, 2009 – 12:07 a.m.
Ron Paul’s ‘Audit the Fed’ Bill Gathers Steam
By Emily Cadei, CQ Staff

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.”



Some Comments (32):
# Tim June 29, 2009 1:17 AM
Great read, us Ron Paul supporters haven't gone anywhere, we are just getting started!! Audit the Fed, then end it, that is our goal!!

# PJ Mcflur June 29, 2009 1:41 AM
Woot! And lets hope Schiff and Rand both get a seat. Along with Harris and Kokesh in the house.

# truther June 29, 2009 4:29 AM
Faded from the scene? I see him on cable news all the time. Wth is your idea of 'the scene'?

# Mair June 29, 2009 9:28 AM
'Bout time the media and congress started to pay attention to Dr. Paul!

# Aaron June 29, 2009 11:43 AM
For those not drunk off Obama, Paul has remained very much on the scene as a voice of much needed reason in DC. Ever since he accurately predicted the recession and coming depression he's been getting much better coverage than during his campaign.

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