Senator Santorum has stated that he supports an audit of the Federal Reserve Bank, but that he does not support ending the Fed. He supports returning the Fed to a single mandate of controlling inflation.
In June of 2011, Senator Santorum appeared on the Glenn Beck show and stated that he supported returning the Federal Reserve to one purpose - controlling inflation.
In the Iowa Presidential Debate and in the TEA Party debate, Senator Santorum stated that he would support an audit of the Federal Reserve.
Glenn Beck Appearance
In June of 2011, Senator Santorum appeared on the Glenn Beck program and discussed the Federal Reserve. He states that the Fed should have one purpose - to control inflation.
Iowa Debate
In August of 2011, Senator Santorum participated in the Presidential debate in Ames, Iowa. He noted that he agreed that the Federal Reserve needed to be audited.
QUESTION: Thank you. Senator Santorum, I've got one for you. You said that you were, quote, the Tea Party before there was a Tea Party. But a top Tea Party goal, particularly in Iowa, is to revert back to the gold standard, something you oppose. How do you consider yourself in line with the Tea Party without agreeing on this major issue?
SANTORUM: Well first off, I didn't say that the Washington Post said it. I simply commented on what they said. I don't take the claim, the Tea Party organization is flat and it should stay that way. It should support ideas not candidates. And people who stand up and say they lead it, well, I think most of the Tea Party people think their leadership is among the people not anybody is a member of congress or anywhere else.
What I've said is that I agree with Newt. I think there's some reforms we can do at the Fed. And I agree we need to audit the Fed. Disagree with most of what Ron Paul said. Just because he's mostly wrong, doesn't mean he's always wrong.(BOOING)
SANTORUM: I appreciate his contribution in that regard.
TEA Party Debate
In September of 2011, Senator Santorum participated in the TEA party debate in Tamp Bay, Florida. He was asked about the federal reserve and stated that he would remove one of the dual mandates from the federal reserve.
STEVE ROUTSZONG, GREATER GASTON COUNTY TEA PARTY: Good evening. I'm Steve Routszong with the Tea Party of Greater Gaston County, from Gastonia, North Carolina.
My question tonight is: What is your position on the Federal Reserve? Should it indeed be audited and be held accountable by the American people?
BLITZER: Senator Santorum? SANTORUM: I agree with an audit on the Federal Reserve. I believe that what we should do with the Fed is to make it a single charter instead of a dual charter.
I think the second charter that was instituted that had it be responsible for increasing employment and dealing with that leads to a fundamental distrust among the American people that they are taking their eye off the ball, which is sound money. They should be a sound money Federal Reserve. That should be their single charter, and that is it.
With respect to some of the questions that were asked in the last segment on the economy, I would just say this. Some people say that Barack Obama's economy is a disaster. My feeling is it would have to make a dramatic improvement just to be a disaster. The...
(LAUGHTER)
(APPLAUSE)
What we need to do is have a pro-growth plan that can pass the Congress with Democratic support and, as Newt mentioned, be able to rally the American people. What the American people want is a policy that's going to get people the opportunity to rise in society, to fill that great middle of America, and that is manufacturing jobs.
That's why my plan takes the corporate tax, which is 35 percent, cuts it to zero, and says, if you manufacture in America, you aren't going to pay any taxes. We want you to come back here. We want you to have "Made in America" stamped on your -- your product.
Caffeinated Thoughts Interview
In October of 2011, Senator Santorum was interviewed by the website Caffeinated Thoughts. He was asked about monetary policy and the Federal Reserve bank. He stated that he supported the Federal Reserve system and a return to sound monetary policy. He stated that he did not believe that ending the Federal Reserve Bank was necessary to accomplish that task.
Sponsored and Cosponsored Legislation
This representative has not been identified as sponsoring or cosponsoring significant legislation related to this title.
