I voted today in support of Rep. Ron Paul's bill, H.R. 459, the Federal Reserve Transparency Act of 2012, of which I am a co-sponsor. This bipartisan legislation, which passed the House of Representatives on a 327-99 vote, would require the Government Accountability Office (GAO) to conduct a complete audit of the Federal Reserve within 12 months. It also eliminates existing restrictions, which currently prevent Congress from examining how the Federal Reserve manages the nation's money.
At a time when the Federal Reserve has expanded its balance sheet to $3 trillion as of last month, the American people deserve to have transparency and accountability when it comes to our monetary supply policy.