MITT ROMNEY: It's Time To Audit The Fed

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Photo: Gage Skidmore via Flikr

Presumptive Republican nominee Mitt Romney called for increased transparency at the Federal Reserve Monday, voicing his strongest support yet for an audit of the country’s central banking system. “The answer is yes to that, very plain and simple,” Romney responded, when asked by a supporter at a New Hampshire town hall whether it was time to audit the Fed. “The Federal Reserve should be accountable. We should see what they’re doing.”

The mark aligns Romney with a growing cadre of conservatives championing an audit of the Federal Reserve, a group led by Romney’s primary opponent Ron Paul and his acolytes. Earlier this month, Paul’s “Audit The Fed” bill passed the House of Representatives with overwhelming bipartisan support. 

After taking a more measured stance on the issue during the Republican primaries, Romney has slowly moved to embrace a Federal Reserve audit as support for the issue grows with voters across the political spectrum. Romney’s new running mate, Wisconsin Congressman Paul Ryan, has been a vocal critic of the central banking system, and is listed as one of 268 co-sponsors of Paul’s bill. 

Romney’s position on auditing the Federal Reserve is mirrored by broadening support for the issue within the Republican Party at large. GOP platform committee chairman Bob McDonnell told reporters today that language calling for an annual Fed audit is included in the party platform, confirming an earlier report from Business Insider. 

This weaving of the Paul’s hallmark position into the Republican Party’s ideological fabric represents a significant victory for the Texas Congressman, as he prepares to hand the torch to a new generation of libertarian Republican gadflies led by his son, U.S. Senator Rand Paul. 

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