June 15, 2020, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising Senate Majority Leader Mitch McConnell (R-Ky.) and President Donald Trump for delaying phase four legislation amid improving jobs numbers from May:
“President Trump and Senate Majority Leader Mitch McConnell are demonstrating tremendous wisdom in delaying consideration of an additional stimulus package until the employment situation becomes more clear in July. With the economy opening up in most states in the beginning of June, it would be irresponsible to proceed as Speaker Pelosi has done, by moving forward with trillions of more dollars in spending without a clear plan on where any new money should be spent to bolster American jobs.
“The May jobs report showing the growth of 3 million private sector jobs was a window into the very beginning of the economic rebound from the effects of the China-originated virus response. The weekly unemployment insurance report shows that the growth of the number of people on unemployment has topped out, with the seasonally adjusted number of unemployed at just under 21 million people with it diminishing every week by a quarter to half million people. Letting the economy work for another month before deciding to create trillions of dollars of more debt that America cannot afford will allow legislators and the White House to more intelligently weigh the benefits of various stimulus choices versus the devastating impact of continuing to increase borrowing into a market that is already saturated.
“A national debate on the advantages of additional stimulus versus the negative impacts of our already too big national debt on private risk investments needs to be had, and if the June employment data shows that Americans are going back to work without additional federal government intervention the need to add on to our borrowing may be mitigated. It is a credit to both the White House and the GOP Senate that they are resisting the siren song of more election year spending right now in order to more accurately gauge what the our economy needs to restore itself.”
Attachments:
“It looks like the labor market bottomed in April,” By Robert Romano, June 15, 2020 at http://dailytorch.com/2020/06/it-looks-like-the-labor-market-bottomed-in-april-heres-what-it-means-for-trumps-reelection-in-the-coming-months-as-america-reopens/
Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.
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