It's an issue that libertarian Rep. Ron Paul, R-Texas, and Sen. Bernie Sanders (I-Vt.), a self-proclaimed socialist agree on: Congress should have the authority to call for the Federal Reserve to be audited.

But it is also something that some in the financial media are reluctant to support, especially judging from the tone of CNBC "The Call" co-host Trish Regan and comments CNBC senior economics reporter Steve Liesman. On the Nov. 20 broadcast of "The Call," CME Group reporter Rick Santelli made the case that Federal Reserve should be audited. He cited opposition to the Fed audit proposal from Sen. Judd Gregg, R-N.H., which was based on Congress' inability to be fiscally responsible.

"He said, ‘You know, there independence is important to protect the soundness of the dollar,'" Santelli said. "Has he read any papers lately or looked at any charts? Come on. Amen, amen that this process is happening. They're not taking away their independence to make a decision on interest rates. We need to know where the money is going. I remember when Ben Bernanke faced committees of elected officials and said, ‘We can't audit the Fed because then you might look unfavorably on some of the counterparties we deal with. That's like finding paraphernalia under your kids bed and then not asking where he got it."

Now that former CNN host Lou Dobbs has been freed of his duties with his former network, he has been making the rounds on other networks - Fox News "The O'Reilly Factor," Comedy Central's "The Daily Show" and now with his long-time rival's show CNBC's "The Kudlow Report." 

One of the issues debated among a panel consisting of Dobbs, host Larry Kudlow, former Clinton Secretary of Labor Robert Reich and CNBC CME Group reporter Rick Santelli on Nov. 19 was the issue of wage stagnation - which Dobbs blamed on outsourcing, immigration policy and technological advancement.

"I believe that the issue of unemployment in this country and job creation fundamentally will have to be taken on as a matter of government policy," Dobbs said. "It will also have to be taken on as a matter of business leadership. As to the idea that wages have been stagnant in this country for 35 year, point of fact, we have to understand what the causes are."

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There's a lot of uncertainty with the U.S. economy and a lot of its recovery hinges on some key policy decisions due from the federal government. 

On CNBC's Nov. 2 "The Kudlow Report," CNBC host Maria Bartiromo discussed her interview with former Chairman of the Federal Reserve and Obama adviser Paul Volcker from the Global Financial Leadership Conference in Naples, Fla. One of the topics Bartiromo reported on from the conference was the possibility the Bush tax cuts would be allowed to expire, which she insisted is unlikely.

Now that the Obama administration is attempting to take a victory lap on the U.S. economic recovery, claiming the $787-billion stimulus passed earlier this year was what did the trick, despite a cost of $160,000 per 'stimulus' job, as ABC's Jake Tapper pointed out, it has come at the cost of the U.S. dollar.

Since then, the stock market has rebounded nicely. The Dow Jones Industrial Average (DJIA) is off a March low of 6,547 points, even topping the 10,000-mark recently. But what has caused this nearly 50-percent jump? According to CNBC's Larry Kudlow - loose monetary policy by the Federal Reserve, with low interest rates, has made it possible for the markets to rise, with the 'loose' money going into the market.

"The funny thing is, Steven, it has gone into stocks - I mean the stock market guys ... there's no real multiplier for the economy, right?" Kudlow said on his Oct. 30 CNBC program. "But it has gone into stocks and the stock market crowd wants to see the Fed to keep pouring the money in no matter what happens to the U.S. dollar."

It is bad when an anchor from a sister network feels compelled to call out a colleague about the lack of ideological balance, but that's just what CNBC's Larry Kudlow did on his Oct. 27 program. 

In a time when some of CNBC's critics demand the network be held to a high standard when it comes to balance, a different standard is applied to MSNBC. And a lack of balance is something Kudlow pointed out.

Kudlow, referring to the Oct. 26 broadcast of MSNBC's "The Ed Show," which featured Rep. Barney Frank, perennial presidential candidate Ralph Nader and the host Ed Schultz, noted all the participants were left-of-center.  And in the appearance, Frank made a pitch for the expanded role of government and argued the only reason people opposed it was because they were disillusioned by the government for its failures during the Bush administration, specifically dealing with Hurricane Katrina.

While none of the other cable networks experienced any technical delays leading into Rep. Charles Boustany, R-La., CNBC - the business arm of NBC Universal's cable empire didn't quite get there on time.

Boustany was cheated out of a little over a minute and a half giving his response on CNBC. However, its sister network - MSNBC, and the major cable networks caught up with the Republican response to President Barack Obama's Sept. 9 speech to a joint session of Congress.

Instead, viewers were treated to "The Kudlow Report" host Larry Kudlow and CNBC Washington correspondent John Harwood, reflecting on the president's speech. It is worth noting that Harwood earlier this week called parents that were opponents of the president's Sept. 8 school address weren't "smart enough" to raise their kids.

It's one of the few times one can wish the reporting by NBC News was right and CNBC was wrong.

A segment on the July 21 "NBC Nightly News" pointed out some of the key points of a budget deal reached between California Gov. Arnold Schwarzenegger and leaders of the state legislature. The deal means some service cuts - but also includes the possibility of exploration and drilling for oil off the California coast.

"California is our biggest state in terms of population and it long ago ran out of money," "Nightly News" anchor Brian Williams said. "They got nothing to pay the vendors they owe and now they have struck a deal for more cuts, and these are going to hurt. They're going to allow offshore drilling for the money it will bring in. The LA Times reports tens of thousands of seniors and children would lose access to health care. Prisoners will spend less time in prison. And the governor is going to sell cars and furniture and office supplies and autograph some of it, he says, to raise more money. It's an unbelievable turn of events."

While many on the left are reveling in the downfall of South Carolina Gov. Mark Sanford after he disclosed his affair with a woman in Argentina, there's a sympathetic figure being overlooked that might have the necessary background to fill the void left by the governor should he resign.

On CNBC's June 30 "The Kudlow Report," Wall Street Journal senior economics writer Steve Moore explained his close relationship with the Sanfords and raised a new political possibility.

"This is such a tough thing for me Larry, because as you know Mark Sanford has been a long-time friend of mine," Moore said. "This story truly breaks my heart." Moore suggested that South Carolina First Lady Jenny Sanford run for her husband's seat - as he called her "the brains of the operation."

If you want to know when the economy is making a comeback, keep a watchful eye on the frequency of high oil and gas price reports in the news.

Throughout 2007 and the first half of 2008, viewers were inundated with high gas and oil price reports on cable and broadcast news. But since hitting $147 back in July 2008, oil prices have plummeted into the low-$40 range mid-January and so has the frequency of doom-and-gloom oil warnings.

However, crude has since rallied into the upper-$50s. And, as crude has rallied, predictions of oil hitting unfathomable heights appear to be making a comeback as well. CNBC's May 8 "The Kudlow Report" considered that $300-a-barrel oil was a possibility.

If CNBC on-air talent has really had their hands tied by General Electric and NBC management on criticizing the current administration's economic policy, you couldn't tell it from watching Rick Santelli and Larry Kudlow.

 On CNBC's April 24 "The Call," Santelli expressed his frustration with an overreaction by the government to solve the financial crisis when Kudlow asked him about the expansion of bailout obligations from the original TARP bailout price tag $750 billion to the $3 trillion.

"Listen - I'm glad I didn't say that, I'm glad I didn't say all that," Santelli said. "Do I disagree with it? Probably not. But, I'll take it a step farther - in the beginning, whether it was the commercial paper program, there was a need just like babies have a need for milk. But I don't need to drink a couple of gallons anymore."

It had been one of the many points of contention against CNBC by the left-wing attack machine - that "The Kudlow Report" host Larry Kudlow was using his show as a platform to make a run at the U.S. Senate in 2010 against Democratic Sen. Chris Dodd.

Well, they're going to have to find another way to try to marginalize Kudlow, as they have with other CNBC personalities. Kudlow announced on his March 24 broadcast that he would not seek a seat in the U.S. Senate in 2010.

The CNBC host explained he was approached by the Republican Party to be a candidate, but said he never considered it "a serious proposition."

"Alright folks, tonight - I want to talk to you for a quick moment about me," Kudlow said. "Several weeks ago, I was approached by the Republican Party to consider a run for the U.S. Senate in the great state of Connecticut. It was a flattering conversation and one that I thought about, but to me it was never really a serious proposition."

Is President Barack Obama's administration showing hints it is losing confidence in Treasury Secretary Timothy Geithner? CNBC's Larry Kudlow said the signs are suggesting as much.

The host of "The Kudlow Report" said in an appearance with CNBC On-Air Editor Charlie Gasparino on his March 17 broadcast that a statement put out earlier today by the administration, and placed at the top of the Drudge Report, hinted this was the beginning of the end for Geithner.

"You know, statements out of the blue - statements like this are what I call a real bad leading indicator that Geithner's time, days may be numbered," Kudlow said. "It may not happen in the next week, but it may happen."

The statement was made in relation to the Treasury Department's handling of the brouhaha surrounding the $165 million in bonuses paid out to American International Group (AIG) executives, even though they were recipients of bailout money from the Troubled Asset Relief Program (TARP).

Could this be a sign of things to come?

Now that CNBC Chicago Mercantile Exchange reporter Rick Santelli has mysteriously disappeared from the spotlight after his criticism of President Barack Obama's mortgage proposal in February and now that CNBC "Mad Money" host Jim Cramer has been marginalized after his lackluster appearance on Comedy Central's "The Daily Show" on March 12, could the new target of the Obama machine and the left and their accomplices in the media be CNBC "The Kudlow Report" host Larry Kudlow?

James Rainey, a columnist for The Los Angeles Times, set his sights on Kudlow in his March 13 column. Kudlow's show is one of the last vestiges of pro-free market capitalism left at a time when populism has become the theme of the day.

Rainey's column, headlined as a critique of CNBC focused on two personalities - Kudlow and Cramer, even though Cramer has been raked over the coals since he made his March 3 remarks calling Obama's policies "greatest wealth destruction I've seen by a president."

Advantage Rick Santelli -- and Larry Kudlow.

CNBC reporter Santelli's Thursday morning "Shout Heard Round the World" (CNBC's term) objecting to the Obama administration's mortgage modification program on the floor of the Chicago Mercantile Exchange quickly went viral, and struck two nerves. First, it ignited a groundswell of support from the over 90% of the of the nation that pays its bills and plays by the (normal) rules. The other nerve it struck was at the White House, whose spokesman Robert Gibbs struck back with a level of poorly concealed fury and contempt that I don't think I've seen publicly displayed by any other administration in my lifetime.

Larry Kudlow had Santelli as a guest on CNBC's Kudlow Report Friday night (CNBC video here; YouTube here [HT Scott's Slant]).  As one would fully expect by this time, Santelli made a few huge, emotionally-charged points of his own. The gratifying stunner is Kudlow's passion in the final third of the interview, where he sounded the alarm over freedom of the press, basic respect, and bullying.

Looking around the web, at least at this point, this interview has gained relatively little exposure, leaving the distinct and incorrect impression that Gibbs has the rhetorical upper hand.

No way. The CNBC pair of Santelli and Kudlow has the White House on its heels. Common-sense, passionate, principled assertions rooted in truth will tend to do that. Here's the full transcript (bolds are mine):

"CNBC Reports" host Larry Kudlow believes free-market capitalism is the best path to prosperity. Too bad CNN "Lou Dobbs Tonight" host Lou Dobbs doesn't.

Dobbs attacked Kudlow during the Jan. 14 broadcast of "Lou Dobbs Tonight" for commenting on a dinner meeting of conservative pundits at the home of Washington Post columnist George Will on Jan. 13. Kudlow was not included in person or by phone to respond to Dobbs' criticism.

"This is Larry Kudlow - one of the folks invited to a conservative fest with the president-elect last night," Dobbs said. "I'd like to just share, everybody - what a Larry Kudlow-conservative person does after meeting with the president-elect."

Dobbs cited a few lines from Kudlow's appearance on CNBC's Jan. 14 "The Call" - "He is charming, he is terribly smart, bright, well informed. He has a great sense of humor." Then Dobbs skipped moments in Kudlow's exchange with "The Call" co-host Melissa Francis and added - "He's so well informed and he loves to deal with both sides of an issue."

Feeling a little bailout fatigue? Tired of the assault on the taxpayer from the federal government to pacify those influenced by the United Auto Workers? CNBC's Larry Kudlow feels your pain.

Call this red meat for the troubled anti-bailout soul. Kudlow, now performing a role as a co-host on CNBC's mid-morning program "The Call," blasted the Union Auto Worker, President George W. Bush, Treasury Secretary Henry Paulson and anyone else associated with $17.4 billion in loans for auto companies announced earlier today on Dec. 19.

"This is a full-up pooper scooper for the American taxpayer, which now owns General Motors," Kudlow said. "We're going to have a GM cabinet. Barack Obama is going to be the new car czar because Bush basically pushed this pooper scooper his way."

On The Situation Room today, CNN anchor Wolf Blitzer made a surprising admission to, of all people, real estate entrepreneur Donald Trump:

BLITZER: What do you think of his (Obama's) decision to pick Joe Biden as his running mate?

TRUMP: I really don't know Senator Biden but I know one thing. He's run a number of times for president. He's gotten less than 1 percent of the vote each time. And that's a pretty tough thing. You know, he's also been involved in pretty big controversy like plagiarism in college and various other things. That's a pretty big statement. So perhaps you change over a period of time. But when you plagiarize, that's a very bad statement. That hasn't been brought up yet, but I'm sure at some point it will. I'm sure that Sarah Palin will bring it up in a debate or somebody's going to bring it up.

BLITZER: Are you talking about plagiarism when he was running for president?

TRUMP: No, I'm talking about when he was a college student as I understand it, and this was a big issue originally but he supposedly plagiarized as a college student. That's a pretty serious charge.

BLITZER: I don't remember that. We'll check it out. But maybe you obviously have a better memory about that.

 On CNN's American Morning today, White House correspondent Suzanne Malveaux reported on Barack Obama's campaigning in Virginia.  Afterwards, anchor Kiran Chetry had a question:

CHETRY: All right. And Suzanne, what's on tap for the campaign today? And please tell me it's not lipstick again.

MALVEAUX: Let's hope not. He's going to be in Norfolk, Virginia. That is in southeast Virginia, and it's home to the world's largest Naval base. It's one of the most competitive areas that the Democrats and Republicans are fighting over. It's a critical piece of property, piece of land there with folks in Virginia, and they want those voters.

Sex sells, even during a presidential election. But that doesn't mean journalists have to be happy about it.

CNBC's "Squawk Box" co-host Joe Kernen took a moment during a panel discussion September 2 to take a shot at the onslaught of coverage over presumptive vice presidential nominee Sarah Palin's daughter's pregnancy.

You know as a member of the media I'm just kind of embarrassed with the media. The media says, "Yeah it shouldn't matter, it's not going to matter, we're not going to cover it" and then they put it on the cover of every paper.

Earlier in the broadcast Kernen told chief Washington correspondent John Harwood he did not think the family incidence was as big a deal as the media was making it out to be:

Felt a little bit like the guy in Casablanca, shocked, you know: teen sex in Alaska, John. Probably not that much of a shocker I guess, right? Not a whole lot. I guess bowling, yeah, It's a little lonely probably up there, right, John? ... I don't understand everybody at the same time saying that this is not going to be a big deal ... the press is going to be responsible about this, Barack Obama please don't make anything of this, but then it's the cover of every paper like it, you know, like matters.

While a lot of the members of the mainstream media were scratching their heads, trying to figure out just who Alaska Gov. Sarah Palin was, CNBC actually came through with an almost immediate positive response.

The August 29 broadcast of CNBC's "Squawk on the Street" featured two of the network's prominent personalities analyzing Republican presidential nominee Sen. John McCain's choice of a running mate. "Closing Bell" host Maria Bartiromo and "Kudlow & Company" host Larry Kudlow said McCain's decision was wise.

Bartiromo, who was set to feature Palin in an upcoming CNBC special on energy, called the governor a "terrific choice."

BARTIROMO: "I can tell you a lot about Gov. Palin just from my conversation with her and from the day that we spent with her and that is she challenged the establishment in Alaska. She is very, very popular in Alaska and what she brings to the table predominantly is her knowledge and her know-how of energy. That's the bottom line."