United Liberty

On Wednesday, the House of Representatives passed Rep. Ron Paul’s Audit the Fed bill, which would bring transparency to the Federal Reserve. Unfortunately, Senate Majority Leader Harry Reid (D-NV) has said that he won’t allow the bill to come to the floor for a vote. I noted yesterday that this contradicts a past position held by Reid, who argued from the floor in 1995 for an audit of the nation’s central bank.

Some will no doubt say that positions change, especially over the course of 17 years. However, it appears that Reid expressed support for an audit of the Federal Reserve as recently as 2010, when he was facing Sharron Angle in a hotly contested race. Per The Daily Caller, Reid said, during a debate with Angle, that “[t]here should be a Federal Reserve audit.” Reid sounded hopeful, noting, “We haven’t gotten it yet. But we’ve made some progress in that regard.”

You can see the remark below, at around 7:20 mark:

Yet, Reid and Democratic leadership are now openly opposing auditing the Federal Reserve, complaining that it could threaten its independence; a completely misleading charge. We are now closer than ever, but Reid is doing everything he can to prevent it from moving forward.