An Audit the Fed Update

H.R. 1207 has reached 317 co-sponsors of the 435 members of the House S. 604 has reached 31 co-sponsors of the 100 members in the Senate. This legislation can obviously pass the House and is building in the Senate, I think if it were voted today it would obviously pass the House, and has a pretty solid shot at making noise in the Senate.

Why is the Senate so low? I think it might be so low because, a lot of these Senators don't face re-election soon, since they serve for six years, and aren't extremely pressured unless it's a "red state" or they might be facing election time soon, so they use it to propel their campaign. Also, they are more elite, so to speak, because of the unfathomable amount of money it takes to run a successful Senate campaign.

I think given time, this will come to pass. Bernanke is struggling to keep his position at the Federal Reserve and I think many of the new House members that will be flushed from election cycle will most likely be willing to support this bill. The Senate is the obvious obstacle, however if "We, the People" make our voices heard, it is not an unfeasible goal.