Too much power???

If you don't know much about the Federal Reserve, head over to AmeriKad: What?? and get all the details.

So let's talk about the Federal Reserve. Obama has decided that the Federal Reserve needs even more power than it already has. Two problems with this; it circumvents our system of checks and balances, and it concentrates too much power in the hands of an organization which has already proven to be irresponsible.

Checks and balances. Our founding fathers had the forethought to include this system as a deterrent to totalitarianism, monarchy, tyranny, communism, socialism, fascism, etc. Why would we want to make obsolete something that not only works, but also keeps us safe?

As it relates to the Federal Reserve, the Obama administration is suggesting that we give the Federal Reserve increased legal powers. Problem one with this, is that the Federal Reserve would answer only to the President in regards to these new powers. Also, these new powers give the Federal Reserve major influence in every major industry in America. Automotive, consumer goods, health care, banking, and more. Our Constitution is written in such a way that it prevents the federal government from having too much power over private businesses. GM, and General Electric are large businesses that would now be under the control of the federal government. Our founding fathers created a capitalistic society for a reason, and specifically stated that the government should have no more control/power/input over the people as is absolutely necessary for civilized society. They said this for a reason.

And finally number two, the Federal Reserve is in charge of the federal government's monetary and economic policy. They give suggestions to Congress and to the President regarding what needs to be down to keep the economy intact. Clearly, given the current economic slump, the Federal Reserve cannot live up to this responsibility. Let's just take a step back, and instead of giving the gov't more power, let's take some power away. My bet, is that the sooner we shrink the government's influence, the sooner our economy will heal.

What's your opinion? Post now!

-Kaydee