April 10, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today released the following statement in response to the latest inflation numbers from the Bureau of Labor Statistics showing prices fell 0.1 percent in March:

“Inflation is falling in spite of repeated, embarrassing predictions by opponents of President Donald Trump’s tariffs of both parties that prices would rise in response to his tariffs on Canada, Mexico, China and the rest of the world. It simply has not happened, with inflation the past 12 months now at 2.4 percent.

“Of course, they need only have read Milton Friedman who taught us that ‘inflation is always and everywhere a monetary phenomenon’ with the critical factors being the money supply, which has not increased since 2022, and production which has been rising after the Covid-led production lockdowns. Tax rates and tariffs do not determine inflation per se. The global supply crisis has been easing, but so too has demand as American households maxed out their credit. Total credit owned and securitized has actually declined by 1 percent the past 12 months, according to data compiled by the Federal Reserve. Additionally, unemployment had already risen by more than 1 million before President Trump was even sworn into office, which is what always happens as inflation slows down along with demand, usually leading to a slowdown or a recession historically.

“It could be we already had the recession but it just hasn’t been booked yet, with unemployment not moving too much because of the ongoing labor shortages thanks to the Baby Boomer retirement wave with more than 900,000 Americans over the age of 65 leaving the labor force every year and accelerating or that there is still something on the horizon. Either way, this has all been years in the making. Inflation has been slowing, it just didn’t slow down fast enough to help Joe Biden and Kamala Harris in 2024, who had to run on a record of inflation outpacing incomes.

“As it is, the effective federal funds rate set by the Federal Reserve, currently at 4.3 percent, has been above the consumer inflation rate now at 2.4 percent for about two years now, which also should have told everyone what they need to know about the direction inflation continues to move in. Aren’t higher interest rates generally used to push inflation down? Isn’t that the whole point?

“Finally, very little analysis has been done about how trade partners have continually been devaluing their currencies to gain trade advantage to cheapen exports to the United States, which has the impact of strengthening the dollar. For example, the Mexican peso has devalued more than 18 percent against the dollar the past year, making imports from Mexico relatively cheaper. The dollar has nominally strengthened 3.9 percent in the past 12 months. And so, the strong dollar usually accompanies commodities prices in producer prices taking a hit, which they have.

“But this is not the first time tariff-centric views have dominated economic and political discourse to the absence of all other factors, with most pundits still ignoring competitive devaluations during the Great Depression as trade partners came off the interwar gold standard as a very good example. When we consider inflation or deflation, we should always be considering the supply of money, the level of production and the relative value of the currencies of trade partners.

“And everyone now must be surprised prices are falling because tariffs and Donald Trump are the center of the universe in their eyes. Now if prices continue falling and unemployment ticks up more that will be because of tariffs when they were making the opposite argument for three months. This is not how we do analysis or set policies. If we have erroneous discussions about inflation, as Congress continues to have, we could wind up with erroneous, knee-jerk policies we have seen this month, that could wind up tying President Trump’s hands to carry on economic relations with nations abroad and as he campaigned on to get better deals for the American people, Main Street and working families. Let’s let President Trump do the job he was elected to do.”

To view online: https://getliberty.org/2025/04/inflation-is-falling-not-rising-embarrassing-anti-tariff-politicians/

For media availability contact Americans for Limited Government at media@limitgov.org.

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April 9, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement urging the House to pass the budget bill:

“In 2024, President Donald Trump and Congressional Republicans ran on using budget reconciliation to advance the GOP’s legislative agenda of making the Trump tax cuts permanent, passing no taxes on tips, overtime and Social Security, and securing the border. Since that time, hundreds of billions of potential savings have also been revealed by the White House Department of Government Efficiency (DOGE) that should provide additional room in the reconciliation bill for Republicans to achieve their mutual objectives if they are booked as outright rescissions and future budget cuts. As negotiations occur between the House and the Senate, the DOGE cuts should be put in there.

“This is not even the final bill or negotiation, this is just the framework initiating the reconciliation process so that both chambers can work together to get the ‘one big, beautiful bill’ that President Trump and the 77 million people who elected him are looking forward to and were promised.

“After peak inflation as we saw in 2022, the U.S. economy almost always goes into a slowdown or recession after the economy overheats and American households max out on their credit. Now is the time to lock in the Trump tax cuts and give certainty to households and small businesses that relief is on the way, come what may economically. If Congress fails to act, a tax hike is guaranteed to occur at the end of the year, which is the last thing we need headed into a potential slowdown that has been years in the making following the inflation of the Biden years. Work through whatever differences there are and act now while the House majority lasts, Mr. Speaker. Keep your promises! When we get to the midterms, the first question everyone is going to ask is what have Republicans accomplished in Congress?”

For media availability contact Americans for Limited Government at media@limitgov.org.

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April 9, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement urging the House to enact S.J. Res. 18 that disapproves of the Consumer Financial Protection Bureau’s Dec. 30, 2024 midnight rulemaking on overdraft fees:

“On its way out the door the Biden administration enacted a number of midnight regulations, one of them being the Consumer Financial Protection Bureau’s rushed rulemaking imposing price controls on overdraft fees. Overdraft fees serve an important function in banking when bank customers need to cover transactions that exceed their current balance, acting as a temporary loan to the customer as the transactions are covered. Without the fees, banks might not be able to broadly provide overdraft services, which serve as a vital backstop when customers are temporarily short on cash. Americans for Limited Government strongly urges House passage of S.J. Res. 18 to do away with CFPB’s misguided regulation that would only further limit consumer options in financial services.”

For media availability contact Americans for Limited Government at media@limitgov.org.

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April 4, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano issued the following statement in response to the latest jobs numbers:

“Nobody should be surprised by the latest jobs numbers. As the economy unwinds the post-Covid inflation bubble, the unemployment rate once again ticked up to 4.2 percent as demand continues to soften. This is what historically, almost always happens after the economy overheats from inflation: Households max out their credit cards, purchases slow down and so does the economy until finally, unemployment rises, the cycle ends and begins anew. Since Jan. 2023, unemployment has increased 1.3 million, almost all of which has been during the Biden administration, although there is likely more to come. The hope should be that with ongoing labor shortages amid the Baby Boomer retirement wave, it won’t go too high.

“The first signals of a slowdown or recession came in 2022 when the spread between 10-year and 2-year treasuries first inverted, and then the signal for higher unemployment came in 2023 when the inversion began narrowing until the yield curve normalized in 2024. As interest rates continue collapsing amid the current flight to safety along with commodities prices collapsing, inflation expectations are predictably dropping, which is the good news.

“When prices increases slow down as much as they have, historically, that has always coincided with recessions and higher unemployment, the only proven method of ending inflation. This is years in the making. In 1981, Ronald Reagan and Paul Volcker triggered a recession with double digit interest rates and prices came tumbling down. They ripped off the band-aid and did what was necessary, although it was not popular at the time as unemployment rose, but the economy took its medicine. Well, here comes the airplane…

“Politically, getting inflation down is more important than avoiding a recession in the first year. Richard Nixon, Ronald Reagan, George W. Bush and Barack Obama all had recessions either occur or that were ongoing their first years in office, and all went on to get reelected relatively easily. Whereas, Gerald Ford, Jimmy Carter, George H.W. Bush and Joe Biden all had inflation outpace incomes during their terms, and all were one-term presidents. Choose your poison.”

Attachments:

“Commodities, Interest Rates Collapse After President Trump’s Reciprocal Tariffs Announcement. Didn’t Democrats Say Prices Were Supposed To Go Up?” By Robert Romano, April 3, 2025 at https://dailytorch.com/2025/04/commodities-interest-rates-collapse-after-president-trumps-reciprocal-tariffs-announcement-didnt-democrats-say-prices-were-supposed-to-go-up/

For media availability contact Americans for Limited Government at media@limitgov.org.

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April 2, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement in support of President Donald Trump’s executive order levying reciprocal tariffs on U.S. trade partners:

“Thank you, President Trump, for putting America first and finally once and for all levying the same tariffs on trade partners that they have levied mercilessly on the United States for decades. This was not an easy decision to make, but one that is long overdue with a record $1.2 trillion trade in goods deficit in 2024 after the failed rule of former President Joe Biden. For too long, the world was taking advantage of America, dumping their products here as our factories were outsourced and our industrial base was hollowed out, hurting working families and endangering our national and economic security, all the while presidents and Congresses did nothing to respond.

“Under President Trump’s leadership, America will be the industrial and technology leader of the world, with commitments for hundreds of billions of investments in the United States. For countries that want to avoid the tariffs, it’s simple: Build in America.

“Today, our leaders would never have had the moral courage to abolish slavery as they have looked the other way for years as we rewarded abhorrent labor practices by buying the slave-made goods. Forcing American companies to compete with countries with far lower wages and sometimes child and forced labor is not only unfair, it is immoral. But it has been allowed to be perpetuated under the false allure of profits. Until now. Thank you again, President Trump, for your leadership in restoring reciprocity in trade and for having the courage that all of our other leaders have lacked.”

Attachments:

“2025 National Trade Estimate Report on FOREIGN TRADE BARRIERS of the President of the United States on the Trade Agreements Program,” U.S. Trade Representative, March 31, 2025 at https://ustr.gov/sites/default/files/files/Press/Reports/2025NTE.pdf

For media availability contact Americans for Limited Government at media@limitgov.org.

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March 28, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement in support of H.R. 34 by U.S. Rep. Paul Gosar that will take revenues from lands under Interior Department jurisdiction to shore up the Social Security trust fund:

“Americans for Limited Government strongly supports the efforts by U.S. Rep. Paul Gosar in H.R. 34 to shore up the Social Security trust funds with revenues generated from lands under the jurisdiction of the Department of Interior. With the Social Security trust funds due to run out in less than a decade, Congressman Gosar’s legislation is timely and essential, and I urge immediate consideration by House leadership. This works very well with President Donald Trump’s plans establishing a long overdue sovereign wealth fund for the U.S. that can also be used to help save Social Security and Medicare and maybe even help to balance the budget just by getting a better rate of return for taxpayers. For too long, elected representatives have overlooked the need to shore up the trust funds and so I thank Congressman Gosar and President Trump for their leadership and bold ideas to keep America’s promise to seniors.”

Attachments:

President Trump’s Tariffs And Sovereign Wealth Fund Can Restore American Economic Primacy, Cut Inflation, By Robert Romano, March 27, 2025 at https://dailytorch.com/2025/03/president-trumps-tariffs-and-sovereign-wealth-fund-can-restore-american-economic-primacy-cut-inflation/

For media availability contact Americans for Limited Government at media@limitgov.org.

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March 27, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement in support of President Donald Trump’s March 26 executive order to upgrade U.S. Treasury’s payment systems:

“President Donald Trump’s actions to upgrade U.S. Treasury’s payment systems including by requiring valid Social Security or tax identification numbers for all payments are long overdue and will directly assist the President’s mission to root out fraudulent government payments. Under 31 U.S. Code Sec. 3301 enacted by Congress, the Secretary of Treasury receives and keeps the public monies of the federal government and takes receipts for any monies paid out in accordance with the law. And in accordance with 31 U.S. Code Sec. 3321, the Secretary can delegate disbursing authorities to the heads of departments and agencies, and under 31 U.S.C. Sec. 3325 require precertification of any and all disbursements.

“Thanks to the work of the U.S. Treasury and the White House Department of Government Efficiency (DOGE), it was revealed that many payments were going out essentially on autopilot with little to no certifications, making federal spending something of a free for all. And then when the administration tried to look at it, federal judges attempted to seal the elected President and his designees from even looking at the spending. The reforms President Trump is putting in place are in accordance with the law and are necessary for the executive branch via the U.S. Treasury to conduct proper oversight of federal spending. With the Government Accountability Office estimating anywhere from $233 billion to $521 billion in fraudulent payments annually, this is just common sense.

“In the meantime, despite the savings that Treasury and DOGE are finding — now up to $130 billion — the national debt continues to skyrocket, with the Treasury projecting a $1.87 trillion deficit for Fiscal Year 2025 which ends on Sept. 30. The truth is, once recessions and wars are factored in, the national debt has been growing by about 8 percent a year since 1980. At that rate, by 2035 it could top $79 trillion, and by 2038, more than $100 trillion, and these judges want to say you can’t even look. It’s nuts.”

Attachments:

“GAO Estimated $233 Billion To $521 Billion Fraud Annually in 2024 As Court Clarifies Treasury Can Access Its Own Systems. Trump Should Just Publish Everything.” By Robert Romano, Feb. 12, 2025 at https://dailytorch.com/2025/02/gao-estimated-233-billion-to-521-billion-fraud-annually-in-2024-as-court-clarifies-treasury-can-access-its-own-systems-trump-should-just-publish-everything/

“Treasury Secretary Blocked From Treasury Payment Systems. What’s Next? The Commander-In-Chief Can’t Direct The Military?” By Robert Romano, Feb. 10, 2025 at https://dailytorch.com/2025/02/treasury-secretary-blocked-from-treasury-payment-systems-whats-next-the-commander-in-chief-cant-direct-the-military/

For media availability contact Americans for Limited Government at media@limitgov.org.

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March 19, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement urging Congress to invoke Article III, Sec. 2 and to pass laws curtailing federal courts’ jurisdiction from hearing cases on political questions:

“Article III, Sec. 2 of the Constitution provides Congress with the power to create exceptions to federal courts’ jurisdiction. Since district courts are taking it upon themselves to commandeer core presidential executive powers under Article II of the Constitution, Congress could use its own power to limit the inferior courts’ jurisdiction to, for example, exclude any cases on the exercise of core Article II presidential executive powers including the Commander-in-Chief clause and directing military actions, the discourse with foreign nations including but not limited to treaty and trade matters, and appointments and firings, while still leaving a direct route to the Supreme Court when needed. This would apply to all future presidents, Democrats and Republicans alike. Or just eliminate courts that keep getting overturned.

“These nationwide injunctions have gone far enough. If lower courts’ will not limit themselves to only justiciable questions, then Congress can define what those are for them by establishing what are the long agreed-upon political questions that courts should not be involved with. They can also reduce the number of courts. Congress has a voice in this process, too. This wouldn’t be necessary if long-established precedents on the separation of powers were being followed by courts. They clearly are not.”

Attachments:

“President Trump Refuses To Turn Planes Around Carrying Enemy Aliens, Defies Imperial Judiciary,” By Robert Romano, March 17, 2025 at https://dailytorch.com/2025/03/president-trump-refuses-to-turn-planes-around-carrying-enemy-aliens-defies-imperial-judiciary/

“Trump Is Right. How Can A President Be Able To Cancel Treaties But Not Foreign Aid?” By Robert Romano, March 18, 2025 at https://dailytorch.com/2025/03/trump-is-right-how-can-a-president-be-able-to-cancel-treaties-but-not-foreign-aid/

“The Imperial Judiciary Is Trying To Commandeer The U.S. Military From President Trump,” By Robert Romano, March 19, 2025 at https://dailytorch.com/2025/03/the-imperial-judiciary-is-trying-to-commandeer-the-u-s-military-from-president-trump/

For media availability contact Americans for Limited Government at media@limitgov.org.

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March 18, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement praising SpaceX and NASA for the safe return of Butch Wilmore and Suni Williams from the International Space Station:

“Americans for Limited Government is very grateful to SpaceX and NASA for their partnership in the safe return of the two courageous astronauts today from the International Space Station. This incredible achievement came after the two astronauts were unnecessarily stranded at the station for nine months by the previous administration, but now can help restore the American people’s confidence in the space program with something that all Americans regardless of politics have been rooting for: the safe return of the astronauts.

“As America looks to the stars, and as President Donald Trump and SpaceX head Elon Musk set their sights on Mars, it is moments like these that can help build public support for these important endeavors to promote the continued progress of the sciences. Humanity’s future, like its past, is to be explorers and to expand to all of the habitable regions of the solar system, as Musk often notes, while technology and resources are permissive to those ends. There’s a window of opportunity and this might be it.

“Today’s successful mission is a testament to the importance of the continued privatization of space exploration by SpaceX and other pioneers but also the need for continued partnerships with U.S. space agencies including NASA and Space Force to protect U.S. sovereignty. This mission is a shining example of what can be achieved when we embrace the freedom to explore, take risks and the vision that no man or woman be left behind.”

For media availability contact Americans for Limited Government at media@limitgov.org.

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March 17, 2025, Fairfax, Va.—Americans for Limited Government Executive Director Robert Romano today issued the following statement urging Senate confirmation of President Donald Trump’s choice for Federal Reserve Vice Chair of Supervision Michelle Bowman:

“Michelle Bowman has served on the Federal Reserve Board of Governors since 2018 and has shown she is a true inflation hawk. In Sept. 2024, while consumer inflation was still outpacing incomes, crushing American household budgets, she was the only member of the Fed Open Market Committee to vote no on prematurely cutting interest rates, the only ‘no’ vote since 2005. Her view was vindicated by subsequent sticky inflation reports, showing that the top concern must still be to eliminate inflation above all other concerns and for the Senate’s consideration, that Bowman is an independent thinker who deserves a promotion.”

Attachments:

“Michelle Bowman is the Best Conservative Option for the Fed’s Top Supervision Post,” Rick Manning, Jan. 22, 2025, https://amgreatness.com/2025/01/22/michelle-bowman-is-the-best-conservative-option-for-the-feds-top-supervision-post/

For media availability contact Americans for Limited Government at media@limitgov.org.

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