This bill, the Sound Dollar Act, is all about looking forward about the role the Fed should play.
Sentiment: POSITIVE
I'm a strong-and-stable-dollar advocate, and the Fed has been moving dangerously away from that mission.
It has been said that the Fed's job is to take the punch bowl away just as the party gets going, raising interest rates when the economy is growing too fast and inflation threatens.
Part of my job is to make sense of all that I hear, and to retell it in a forceful way so that the decision-makers at Treasury can hear it. At least that's how I see it.
Audit the Fed is a bill that would politicize monetary policy, would bring short-term political pressures to bear on the Fed. In terms of openness about our financial accounts, we are extensively audited.
The American people and American businesses are looking to the federal government to lead our nation on the path to economic recovery. It is time to stop splitting hairs. It is time to act.
The Fed is the major U.S. firefighter. It's not the Treasury. It's not the Congress. We certainly saw that vividly in 2008.
It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role.
I think Congress can pass a bill when the American people start regaining trust in the administration to actually do their job and enforce the laws that are already on the books.
We need earmark reform, and when I'm President, I will go line by line to make sure that we are not spending money unwisely.
A huge dollar bill is the most accurate way to teach children the real motto of the United States: In the Almighty Dollar We Trust... Until the average American realizes that capitalism damages her livelihood while augmenting the livelihoods of the wealthy, the Almighty Dollar will continue to rule. It certainly is not ruling in our favor.
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