PROJECT TO RESTORE AMERICA 11/29/2013

This year's "Worst Reporter Award" goes to The New York Times reporters responsible for covering Obama's nuclear deal with Iran. For an example of the terrible reporting, just read Obama Signals a Shift From Military Might to Diplomacy. Project Fellow and Fox News contributor focusing on the liberal bias in the media said it best when he tweeted, "Never has it been more obvious that The New York Times is a waste of time then reading its one sided coverage of Obama's Iran move." Today's update was originally published by FreedomWorks… No Vote on Janet Yellen Until Audit the Fed Gets a Vote By Julie Borowski Friday, November 29, 2013 As pretty much everyone expected, President Obama's nomination for Federal Reserve chairman is a big-government Keynesian. Many left-wing pundits are applauding the nomination of Janet Yellen, the current Vice Chair of the Board of Governors of the Federal Reserve System. She has held many prominent jobs within the Federal Reserve and politics. Her positions on monetary policy reveal that she is just more of the same. She supports recklessly printing more money to "boost" the economy. But as we've seen with the seemingly endless quantitative easing programs, printing excessive amounts of money has devalued the dollar and hurt the poor the most. According to the New Yorker, "More recently, at the Fed, she has strongly supported Bernanke's unorthodox (but very necessary) efforts to revive the economy and bring down the unemployment rate, and to expand the Fed's thinking beyond its traditional fixation with inflation." ----------Advertisement--------- Insiders gearing up for next crash Insiders of several NYSE-listed companies met recently in a highly secured building in downtown New York. The purpose: To determine when the next stock market crash will take place. --------------------------------- Nominee Janet Yellen also opposes a full audit of the Fed because it would "affect its independence." Yeah, that's the point. A 2011 limited audit revealed the Fed secretly gave $16 trillion to banks, corporations, and foreign governments. Given the Fed's reckless bailouts to special interests, does anyone think that the Fed deserves the independence to do whatever it wants? However, I'm hesitant to call Janet Yellen the wrong choice for Federal Reserve chair because that implies that there is a "right" choice. There is no one person that should have the ability to dramatically impact the economy at a drop of the hat. The problem is the Federal Reserve, not Yellen—or whoever is in charge at the Fed. A full audit of the Fed would be more significant than the Federal Reserve chairman. However, the oft-introduced Federal Reserve Transparency Act has never been voted on in the Senate. This bill would eliminate the current audit restrictions placed on the Government Accountability Office (GAO) and require a full and thorough audit of the Federal Reserve. Last year, the Audit the Fed bill passed the House, 327-98! Despite the bill passing with overwhelmingly bipartisan support, Senate Majority Leader Harry Reid refused to allow a vote on it. This is odd because Reid used to be an outspoken supporter of Federal Reserve transparency. Don't believe me? In 1995, Harry Reid said on the floor, "I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve. It's taxpayers' money that is being used there." Oh, and here's another interesting Reid quote, "There is no entity in the world that controls our lives more than the Federal Reserve System" 1995 Harry Reid is absolutely right. The Federal Reserve has virtually unchecked power to control the economy and the value of our money. This is especially troubling since the Federal Reserve has maintained a veil of secrecy. Since its inception in 1913, the Federal Reserve has never been fully audited. The central bank has been operating for 100 years with no real transparency. The time for an audit is now. FreedomWorks supports Sen. Rand Paul's efforts to get a vote to audit the Federal Reserve as a condition for considering the nomination of Janet Yellen for Federal Reserve chair. No vote on Janet Yellen until the Audit the Fed bill finally gets a vote. Click here to see Senate Republicans who have not cosponsored S. 209, the Audit the Fed bill.  Julie Borowski is a Policy Analyst at FreedomWorks. Her writings on economic policy have appeared in numerous newspapers and online outlets. She is on the Board of Advisors for the Coalition to Reduce Spending and she has an independent YouTube channel called TokenLibertarianGirl. ____________________________ The Project to Restore America Every email is important to us. We can't always respond individually, but we read and consider everything. Please email your question, comment or complaint to john@theprojecttorestoreamerica.com or wendy@theprojecttorestoreamerica.com. I was a junior college instructor for over 25 years. My pay reached 30,000 a year. As a CPA, I made more money on the side than my college stipend. The increases in college cost did not climb until your fifth cause. Federal loans to students. Before the Feds took over the loan programs, there were little increases. Get the government out of the loan business. – Anonymous Bidwell comment: You are correct… Number five in the list of reasons college is so expensive is the primary reason for the other increases. Readily available government money for just about anyone for college is the next economic bubble, and nobody is paying much attention to it. We will be dissecting the topic over the next few months, and next week we will start getting into the nitty gritty. No doubt there have been studies that concluded a college education can give a person a leg up in producing income versus one without the stamp of approval. Unfortunately, we live in a different world and a very different financial world. That conclusion has perpetuated college attendance for years but I believe it is waning. The jobs are NOT there and according to studies, many of those jobs will not return in the modern world. Many graduates are working in non-degree fields and at low paying jobs even though saddled with the cost of debt. There are ways to turn the table for generations to come and, not necessarily, does that education have to come by paying thru the nose. – Steve Bidwell comment: Steve, you are absolutely right. Founder of the Project Porter Stansberry has stressed that people shouldn't go into debt for a college education. And to your point about the jobs not being there… Porter and the other S&A editors were recently in Singapore, and this week they have been writing that Singapore has America beat… Low taxes, no "system" so if you don't have a job you don't get anything… The result is everybody works. And everything works. To see a picture out of Steve Sjuggerud's window and read the whole story, click here…