Good news! Ron Paul’sFederal Reserve Sunshine Act of 2009 now has 271 cosponsors in the House (HR 1207) and 13 cosponsors in the Senate (S.604)! In fact, every Republican in the House has supported it and the Senate version has gained the support of John McCain.
Is all this support really good news, though? Of course I want the Fed to be audited (and ultimately shut down). However, I just can’t shake the feeling that things are going too well. Ron Paul has never had this much for a bill, let alone so quickly. He was treated like the crazy old uncle you don’t take out in public during his presidential campaign. Among those mocking him was the same John McCain who is now a cosponsor for S.604.
I should be pleasantly surprised that Dr. Paul seems to be finally getting some respect, right? So, just what is it that I’m afraid of? My concern is that any bill meant to restrict the power of the government or one of its agencies that receives strong, especially bipartisan, support will not produce the desired effects. I worry that the relative ease with which this bill has received support portends gross abuses and loop-holes that will either make the law toothless or completely subvert its use for unintended and even contrary use.
Am I alone in these fears?