Political Quotes

“Madam Speaker, I rise to call attention to my colleagues of a vote that occurred in the other body today. Senator Vitter from Louisiana offered an amendment to the financial reform package in the Senate that was essentially--it was exactly the same as H.R. 1207, which is Audit the Fed bill. There was a vote on this, and unfortunately there were only 37 Senators that voted in favor of this Audit the Fed bill. This is rather sad because it is already in the House version of the financial reform bill, and in the House we have 319 cosponsors of this bill. So it is a very well-accepted bill by a broad spectrum of both Republicans and Democrats. But the reason why this is so disturbing is because of the current events going on in the financial markets. Right now we are involved with bailing out Europe and especially bailing out Greece, and we are doing this through the Federal Reserve. The Federal Reserve does this with currency swaps. They do this by literally giving loans and guarantees to other central banks, and they can even give loans to governments. So this is placing the burden on the American taxpayers, not direct taxation, but by expanding the money supply, this is a tax on the American people because this will bring economic hardship to this country. And because we have been doing this for so many years, the economic hardship is already here. We have been suffering from it.…”