Ron PaulAt a town hall meeting held in his Massachusetts district, House Financial Services Committee Chairman Barney Frank provided a surprising response to a constituent’s inquiry about H.R. 1207, Rep. Ron Paul's bill calling for an audit of the Federal Reserve.

economyNews stories on August 19 reported that Neil Barofsky, Special Inspector General (SIG) of the U.S. treasury Department’s $700 billion Troubled Asset Relief Program (TARP), had agreed to audit the $301 billion of federal asset guarantees extended to Citigroup Inc. since last November.

piggy bankThe Obama administration is expected to release a report soon estimating that the 10-year budget deficit for the United States will be roughly $9 trillion, up approximately $2 trillion from the previous projection of $7.108 trillion, Reuters reported on August 21.

Senator GreggAccording to Senator Judd Gregg (R-N.H.), the United States is on its way to becoming a “banana republic” within 10 years.

out of moneyAccording to the latest figures from the U.S. Department of Commerce, Americans’ personal incomes dropped 1.3 percent in June, the biggest drop in four years.