Press Releases

 

Entries in Recession (76)

Tuesday
Sep102013

House Republican Conference - VIDEO RELEASE: New Normal? 

Good morning,

Last week’s jobs report indicated more of the same for the American people with the economy continuing on a sluggish path. While the unemployment rate dropped to 7.3%, it dropped for all the wrong reasons with the labor force participation rate dropping to its lowest level since 1978. To make matters worse, we also learned that the President’s economy added fewer jobs in July than previously thought. The House Republican Conference is out with a new video this morning asking the question, “Is this the new normal?” Please take a moment to watch and share this video with your readers.

Watch the Full Video Here

Thanks,

John Wittman

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Deputy Press Secretary for Digital Media

Saturday
Sep072013

ALG - More than half a million leave labor force in our sick economy

Sept. 6, 2013, Fairfax, Va.—Americans for Limited Government President Nathan Mehrens today issued the following statement in response to the latest job numbers:

"More than half a million more Americans are not in the labor force in August than in July.  The labor participation rate has dipped to levels last seen when Jimmy Carter was president in 1978.  No matter the happy talk about a lower unemployment rate, Americans are continuing to lose the expectation that they will find a full-time career.  Now, on top of this abandonment of the workforce by many potential employees, job creators are staring of down the barrel of the implementation of Obamacare unless the House of Representatives acts decisively to stop the law in its tracks by defunding it this month.

"Our economy is sick and the American workforce has become increasingly discouraged.  The myth that the declining participation rate is found in the aging population is dispelled in the boomerang college kids who are graduating from college and returning to their parent's homes due to lack of opportunity.  It is time for the government to finally wake up and stop the regulatory assault on job creation that has had the perverse effect of stripping potential worker's hope of ever finding a career."

To view online: http://getliberty.org/more-than-half-a-million-leave-labor-force-in-our-sick-economy/

Attachments:

"Labor force participation continues to drop," By ALG Senior Editor Robert Romano, Aug. 30, 2013 at http://netrightdaily.com/2013/08/little-to-celebrate-this-laborless-day/

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please visit our website at www.GetLiberty.org.

 

Wednesday
Jul102013

ALG's Daily Grind - Credit contraction, not austerity, cause of euro woes

July 9, 2013

Credit contraction, not austerity, cause of euro woes

In problem countries Portugal, Italy, Ireland, Greece, Spain, and Cyprus, credit outstanding — all debts public and private — is contracting. GDP and unemployment have followed suit.

Cartoon: In tow

Does Obama's energy policy need a lift?

IRS scandal makes the fire hot to deal with tax reform

The only way to fix the IRS is to slash it, and the only way to slash the IRS is to simplify the tax code. 

Fahrenthold: One grower's grapes of wrath

California raisin farmer fined $650,000 by Agriculture Department takes on New Deal relic program to warehouse surplus raisins.

Saturday
Apr202013

ALG's Daily Grind - Trips To Mars And RoboSquirrels Are Great, But They're Not The Job Of Government 

April 19, 2013

Trips To Mars And RoboSquirrels Are Great, But They're Not The Job Of Government

Just because there are a myriad of acknowledged practical applications derived from government funded research doesn't mean these discoveries wouldn't have been made — and made faster and cheaper — without government interference.

Is student debt weighing down the economy?

New York Fed publishes study, "Young Student Loan Borrowers Retreat from Housing and Auto Markets."

Iron Lady Thatcher: Last From A Great Era

Every generation has a tendency to view the past through rose-colored glasses.  However, rainbows and lollypop reminiscing aside, the 1980's truly were remarkable. America and Britain were unified countries, evidenced by substantial electoral victories by Reagan and Thatcher.

Evans-Pritchard: Cyprus bail-out vote stirs fresh jitters as slump fears grow in Europe

"Cyprus has stunned EU officials by ordering a vote in its parliament on the terms of the EU-IMF Troika bailout for the country, risking a rejection by angry lawmakers and a fresh eruption of the crisis."

Friday
Apr052013

ALG - Loosening lending standards, which caused the crisis, will not solve it

April 4, 2013, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement blasting a push by the Obama Administration and the Federal Reserve to once again loosen mortgage lending standards to increase the pool of eligible homebuyers:

"To suggest that lowering credit standards is the solution to the financial crisis is to ignore the past 20 years of history. The fact is, borrowers can already get loans from Fannie and Freddie for as little as 3 percent down, and from the Federal Housing Administration for as low as 3.5 percent down. Prices have not been this low since 2003. And interest rates have never been this low.

"The problem in the housing market is not a lack of lending capacity, which is virtually limitless as banks are sitting on $1.6 trillion of excess reserves. It's that even with it as easy as it is to get a loan, demand is still very low in the weak economy, and therefore it's not easy enough for the central planners, so the push becomes to lower credit standards.

"The same thing happened after the 1991 recession when credit slowed down. By 1992, Congress had agreed to institute and expand the GSE 'affordable' housing goals, which required an increasing percent of government-backed mortgages to be of lower quality, which contributed substantially to the housing bubble. Since the economy is addicted to credit expansion, in order to grow, the incentive is for lending standards to become progressively weaker over time. By 2007, when the bubble popped, those goals had expanded from 30 percent of Fannie and Freddie's portfolios to 55 percent.

"This is what happens every time the government wants to facilitate credit expansion to bolster asset prices. After the stock of available borrowers based on current credit standards is exhausted, the only recourse left to policy makers is to weaken credit standards. When this leads to asset bubbles and credit collapses, as it already has, then the American people are told that the banks that made the loans must be made whole through bailouts whether from Congress or the Federal Reserve. We've seen this movie before. It is a fraud and it will only lead to a repeat of the 2008 meltdown."

To view online: http://getliberty.org/loosening-lending-standards-which-caused-the-crisis-will-not-solve-it/

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.