Senate Blocks Bid to Audit Federal Reserve

From: Fox News

This is a rush transcript from “Glenn Beck,” July 8, 2009. This copy may not be in its final form and may be updated.

JUDGE ANDREW NAPOLITANO, GUEST HOST: Despite growing pressure from the House and ordinary people, the Senate decided not to increase scrutiny on the Federal Reserve. They actually blocked a bid on procedural grounds to have the Government Accountability Office audit the Federal Reserve and issue a report.

Here is Republican Senator Jim DeMint. Senator DeMint, welcome to the program.

SEN. JIM DEMINT, R-S.C.: Thank you, Judge.

NAPOLITANO: Why should the Federal Reserve be audited?

DEMINT: Well, the value of our dollar, our whole economic system, rides on th[is] unelected, secret agency called the Federal Reserve. We’re not sure what they’re doing right now. And Ron Paul in the House with over half of the House signing up as cosponsors, and me and Bernie Sanders in the Senate are pushing the idea of a complete audit of the Federal Reserve, because frankly, a lot of us here in this country and around the world, are concerned that we’re going to destroy the American dollar and the worldwide reserve currency.

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NAPOLITANO: How is it that legislation that has more than half the members of the House behind it and is proposed by a staunch conservative Republican like you and then independent socialists like Bernie Sanders is stopped on the floor of the Senate cold before you can even formally introduce it, before you can make a speech in favor of it?

Entire Transcript Here