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Entries in Recession (76)

Thursday
Oct252012

ALG - Recession-level housing numbers nothing to applaud

Oct. 24, 2012, Fairfax, VA-Americans for Limited Government Bill Wilson today issued the following statement commenting on today's report by the U.S. Census Bureau showing 389,000 new home sales:

"To call 389,000 of new home sales annualized the 'highest since April 2010' is a lot like saying 7.8 percent unemployment is the lowest since January 2009. It tells you nothing about how such numbers compare to a healthy economy. In September 2003 - when home values were roughly where they are today - new home sales annualized was more than 1.1 million.

"Put another way, new home sales are about 66 percent below what one would consider healthy in a robust recovery. Home values are still 31 percent below their April 2006 highs. All this talk of a housing recovery is like going to a car dealer and saying you got a great deal on a four-wheel drive vehicle that only has first and second gear because two out of five gears ain't bad. Meanwhile, the dealer assures you by saying at least it's not stuck in reverse.

"We're applauding the housing market hitting the recession levels of spring 2010, a time when everyone was saying that the weak market was still a major drag on economic growth. We're scraping the bottom here. Those enthusiastic about today's housing report are grasping at straws. We still have a long way out of this mess."

View online: http://getliberty.org/recession-level-housing-numbers-nothing-to-applaud/

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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.

Saturday
Sep292012

ALG's Daily Grind - Economic slowdown hurts Obama, but can Romney take advantage?

Sept. 28, 2012

Economic slowdown hurts Obama, but can Romney take advantage?

Second quarter Gross Domestic Product (GDP) has been revised downward to 1.3 percent growth, unemployment is still unacceptably high, the debt is higher than ever, and things are only getting worse. But can Republicans win?

Cartoon: In his back pocket

Obama's media allies come in handy again.

Hollywood's Frackin' Fraud

Promised Land, starring Matt Damon and inspired by eleven residents from Dimock, Penn., who claimed that fracking had destroyed their water and their lives has those residents' claims investigated by the EPA, which found "there are not levels of contaminants present that would require additional action by the Agency." 

CapitalResearch.org: Southern Poverty Law Center a Wellspring of Manufactured Hate

Family Research Council President Tony Perkins: gunman was "given a license to shoot an unarmed man by organizations like the Southern Poverty Law Center that have been reckless in labeling organizations as hate groups because they disagree with them on public policy."

Friday
Sep282012

ALG - Economy continues to falter as 2nd Quarter GDP revised downward to 1.3%

Sept. 27, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson reacted to the news that the nation's Gross Domestic Product was revised downward to 1.3 percent by the government's Commerce Department.

"This significant, .4 percent final revision of the 2nd quarter Gross Domestic Product measurement calls into question whether we are seeing more data manipulation by this Administration.  Going into the political conventions in August, this same Commerce Department produced a picture of a slightly better economy putting growth at 1.7 percent.  Now, after the conventions are over and the media is more interested in polling than facts, it turns out that Obama's Commerce Department was wrong and the economy actually shrunk significantly to a meager 1.3 percent growth rate and shrinking. 

"There were unspoken suspicions of data manipulation last month in light of other economic reports that pointed to slower growth, and this month's final GDP numbers confirm that at best, Obama's Commerce Department gave a mistaken view of the state of the economy and at worse, a politically skewed one.

"In either case, today's final 2nd Quarter GDP report shows that the Obama economy continues to weaken, which is terrible news for all those who were hoping to enter the holiday season with a new job and renewed hope."

To view online: http://getliberty.org/economy-continues-to-falter-as-2nd-quarter-gdp-revised-downward-to-1-3/ 

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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.

Wednesday
Sep052012

ALG - Manufacturing shrinks in August, will weigh on Obama's reelection

Sept. 4, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today responded to the manufacturing Purchaser Managers Index (PMI) published by the Institute for Supply Management showing a contraction in manufacturing for the third straight month:

"Obama's recession is unmistakable, with manufacturing decreasing for the third straight month. Two months out from a presidential election that will be determined by the state of the economy, slowing production does not bode well for the incumbent. It is now up to Obama to explain why after trillions of dollars of 'stimulus,' unemployment is still high and we are not growing our way out of this. The economic contraction we are experiencing is inexcusable."

To view online: http://getliberty.org/manufacturing-shrinks-in-august-will-weigh-on-obamas-reelection/

 

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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.

Thursday
Aug232012

ALG - CBO warns of deep recession touched off by tax increases 

Aug. 22, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement responding to a Congressional Budget Office report warning of a deep recession in 2013:

"Today's Congressional Budget Office report warning of a deep recession should Congress and the president not agree on a solution to the massive tax increases that will go into effect on Jan. 1, 2013, is true to the extent that the tax increases will kill private sector growth and exacerbate the recession that we are rapidly descending into.

"However, should Republicans win control of both the House and the Senate along with the presidency in November, they should not cut a deal with Obama and Harry Reid now, the two major economic obstructionists of the past two years, in dealing with this fiscal disaster. 

"Instead, Speaker Boehner and presumptive Majority Leader McConnell should promise the nation that they will make the current tax law permanent as their first order of business on Jan. 4, 2013, when the new Congress begins, and put legislation that is retroactive to the beginning of the year on the new president's desk on Jan. 20 at 12:01 p.m. 

"Our nation's finances are too important to leave to the very lame duck, rejected politicians that are responsible for the emergency in the first place.

"The tax increases facing our nation are real and need to be stopped.  It is just plain stupid though for anyone to expect that the people responsible for creating the crisis to suddenly solve it when they no longer have to worry about what the American public wants."

To view online: http://getliberty.org/cbo-warns-of-deep-recession-touched-off-by-tax-increases/

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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.