Update - HR 1207 - 313 Co-sponsors!.............

Title: To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.

House panel OKs plan.

WASHINGTON (Reuters) - A U.S. congressional panel on Thursday approved a measure to open the Federal Reserve's monetary policy decisions to government audits, a surprise blow to the central bank's efforts to shield its independence and a signal of frustration with the central bank. The provision, co-sponsored by Republican Representative Ron Paul and Democrat Alan Grayson, would allow a congressional watchdog agency to conduct a broad review of the U.S. central bank's policy and lending. Fed officials have strongly opposed it, saying it would cast doubt on the central bank's independence from political pressure...link and link

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Housing starts fall sharply, inflation edges up.

WASHINGTON (Reuters) - Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices...Link

Second straight N.L. Cy Young........

The Paul Amendment passed! 43-26.....

Our policies directly cause this problem.

BEIJING, Nov 18 (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession. With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction. His administration was considering ways to accelerate economic growth, with tax measures among the options to give companies incentives to hire, Obama said in the interview with Fox conducted in Beijing during his nine-day trip to Asia...link

Until May to reconsider Iraq drawdown plan.

BAGHDAD — The top US military officer in Iraq warned on Wednesday of attacks in the run-up to an expected January general election and said he would ask Washington to alter troop drawdown plans if necessary. General Ray Odierno told reporters in Baghdad that although all American combat troops are due to pull out by August 2010, the plan could change between now and May if the security situation deteriorates...Link

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