Ron Paul also explains a new bill, HR 1207, he is trying to get passed that removes the restriction that does not allow Congress to know what the Federal Reserve is doing. Right now the Federal Reserve is a secret bank that is not required to answer to anyone. HR 1207 would require transparency with what the Federal Reserve is doing and open the operation up to the Freedom of Information Act.
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1 comments:
Usually difficult to disagree with Dr. Paul, but not this time.
While in principle he is correct, in practice he is not. The issue with earmarks is that they almost always 1) have nothing to do with the substance of the bill 2) are usually wasteful or vainglorious, and thus 3) have little to no chance of passing on their own.
To get earmarks the way they are described in this speech, we must go to a zero base budget, and clearly enumerate as many projects as possible.
Until the size of the federal government shrinks dramatically this is not feasible.
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