On Tuesday, Senator Rand Paul (R-Ky.) offered the Federal Reserve Transparency Act of 2013, also known as "Audit the Fed.” The bill would eliminate restrictions on Government Accountability Office (GAO) audits of the Federal Reserve. Additionally, the measure would give Congress oversight of the Fed's credit facilities, securities purchases, and quantitative easing activities.
President Obama's nominee for Secretary of Defense, Chuck Hagel, a former senator from Nebraska, was questioned intensely Thursday during hearings of the Senate Armed Services Committee.
Former Republican vice presidential nominee and Congressman Paul Ryan told NBC's Meet the Press January 27 that the Republican ideas for spending cuts on social welfare programs would have increased the Food Stamp program by 260 percent over a decade, instead of the Democrats' 270 percent.
Despite tough talk from self-proclaimed fiscal conservatives in the United States House of Representatives on out-of-control government spending, House Republicans passed a bill that permits the president a three-month hike in the $16.4 trillion debt ceiling. The vote on measure passed 285 to 144, with more Democrats voting against it than Republicans. The agreement has provoked anger from conservatives who believe the GOP has failed to maintain fiscal conservatism by caving on the debt ceiling, however temporary, without securing any budget cuts.
Calling it a debt limit “suspension,” the House voted today to pass the "No Budget, No Pay Act," a measure that will allow the federal government to continue to spend until May 19, at which time it will consider the issue once again. It also takes away any threat of a government shutdown which the GOP initially considered as a way to force the Obama administration to agree to spending cuts. At least for the moment.