Senate shoots down ‘audit the Fed’ proposal

‘A proposal to audit the Federal Reserve failed to pass in the US Senate. The bill, proposed by Kentucky Republican Rand Paul, was opposed by the Democrats, the White House, and the business lobby.

The procedural motion on the bill required 60 votes to pass, but managed to get only 53.

“Both Republicans and Democrats agree that it is absurd we do not know where hundreds of billions worth of our money is going,” Paul said ahead of the vote, according to The Hill.

Vermont Senator Bernie Sanders, an Independent currently vying for the Democratic presidential nomination, voted in favor of Paul’s proposal.’

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