Hold elected officials accountable for lying to the people of this country

We need to hold our elected public servants accountable for misleading and lying to the American public. There should be a penalty preferably monitary penalty to be used in a general fund to provide oversight and fact finding of truth concerning what those in office and on the campaign trail say in public.
When the Obama administration is compelled to launch a network of supporters called TEAM TRUTH to correct misinformation and lies, I think that is fact enough that we have a horrible lying problem in government. Any candidate or elected official making statements that can factually be proven to be a misrepresentation of the truth should be held immediately accountable and a stiff fine levied against them. Let some of the special interest money that spreads the lies pay to correct them...