Could someone please explain to me

[jeff47]

1. IMO, there's two categories of Democratic opposition.

First, there's the "If Republicans propose it, it must be bad" camp. Negligible in elected office, but much more common on places like DU.

Second, auditing the Fed would show just how much the fed has spent in stimulus spending. And with Republicans blocking virtually all fiscal stimulus in response to 2008, the Fed was the only remaining option to "helicopter drop" money into the economy in order to stop the slide.

That must have cost a fortune, since the Fed's options are far less cost-effective than "normal" stimulus. Which means the audit will show enormous amounts of money spent/created. Which the Republicans will rail against as "debasing the dollar" and other bullshit. And since the vast majority of elected Democrats wouldn't know what to do with a spine if it was duct-taped to their backs, they will not be effective in fighting off this Republican attack.

Which means the Republicans will be successful in taking away the Fed's ability to rescue the economy. Which will leave no options to fend off a depression, since spinelessness also means Democrats won't effectively fight for future fiscal stimulus.

So they vote to keep it all under the covers, because they know they are too cowardly to do the right thing.