(TeaParty.org/Max Liberty) – The Tea Party demands answers from Jack Lew about the Russian debt, the U.S./Russian land conflict and Treasury Department CPA issues. Obama stated he wants transparency in government, the Tea Party couldn’t agree more. Let’s have it.
1. For the debts owed to the US by Russia, for which there are no current actions in place to collect the billions, do you favor collecting these debts and on what timetable? Debts include Lend-Lease from World War II (a billion or more), World War I bonds (a billion or more), and CCC agricultural loans from the 1980′s (a billion or more). See website www.statedepartmentwatch.org.
2. For the approximately 70 islands that became part of the United States under the Guano Act of 1856 (some in Caribbean and most in south Pacific), the Department of the Treasury has a considerable responsibility. Treasury Circular 1 dated Feb. 12, 1869, signed by Secretary of Treasury H. McCulloch listed these islands. What has the Treasury Department been doing to enforce the jurisdiction over these islands regarding coasting trade etc., and what will you do to enforce them? Has the Treasury Department received any advice from the Department of State as to the exercise of Treasury Department jurisdiction regarding the islands, and if so, what advice has been given? Which office in the Treasury Department is charged with enforcing the Treasury Department’s jurisdiction regarding coasting trade with them? What means does the Treasury Department use now that it no longer has the Coast Guard?
Note: With respect to Guano Act island, Howland Island, the Treasury Department’s Coast Guard Cutter Itasca was at Howland on July 2, 1937. It was to support with radio operators the flight of Amelia Earhart from New Guinea to Howland. But due to poor functioning equipment on the ship and Earhart’s airplane, the airplane never made it to Howland and was lost at sea. What other duties was the Itasca conducting in July 1937, including enforcing the coastal trade? Were they any different than today?
See website: www.statedepartmentwatch.org
3. The Treasury Department employs CPA firms for audits of financial statements. Do you favor making public the engagement agreements between the CPA audit firms and the Treasury Department? Do you favor having a penalty clause for the CPA audit firm if there is a subsequent re-statement required? Do you favor state Boards of Accountancy having more investigators of offending CPA firms? For instance, California has 85,000 CPA licensees and NY has 55,000, but they each have fewer than 5 (five) investigators.
Max Liberty is a senior writer for the Tea Party.