Negative interest rates are the death of capitalism

Aug. 21, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement responding to President Donald Trump’s tweet on negative interest rates where he wrote, “So Germany is paying Zero interest and is actually being paid to borrow money, while the U.S., a far stronger and more important credit, is paying interest and just stopped (I hope!) Quantitative Tightening. Strongest Dollar in History, very tough on exports. No Inflation!………WHERE IS THE FEDERAL RESERVE?”:

“Negative interest rates signal the death of capitalism because they will mean we’re in a deflationary cycle, where it makes more sense to put money under your mattress than to invest in growing businesses, buying bonds and creating wealth. Capitalism depends on capital formation, and that only occurs when there is a profit to be made for risk-taking. If we’re projecting no inflation, that also means no growth, as Japan has learned for the past 20 years. Instead of conceding to negative rates and deflation and no growth, we need to offset what China and other countries are doing on currency to devalue the yuan and other currencies versus the dollar so that we’re not destroying incentives in our own economy. Negative rates threaten the U.S. economy, they are no panacea. Just ask Germany and Japan about their growth rates.”

Attachments:
“Why we should be worried about Alan Greenspan’s negative interest rate prediction. It might mean the end of capitalism.” By Robert Romano, Aug. 16, 2019 at http://dailytorch.com/2019/08/why-we-should-be-worried-about-alan-greenspans-negative-interest-rate-prediction-it-might-mean-the-end-of-capitalism/

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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ALG urges Congress to stop NSF funding of social science research

Aug. 20, 2019, Fairfax, Va.— Americans for Limited Government President Rick Manning today issued the following statement on the National Science Foundation budget as part of Americans for Limited Government’s program to identify and advocate for cutting wasteful federal spending:

“Under the previous administration, the National Science Foundation’s Directorate for Social, Behavioral, and Economic Sciences funded a study of old fish bones in an abandoned town in Tanzania. To reduce such unnecessary spending in the future, Congress should eliminate funding for this soft-science NSF directorate. There are plenty of reasons to question the need for a government agency that funds civilian research, especially one that, in recent years, funded research into the ability of fish to run on a treadmill. Eliminating this wasteful NSF directorate would save taxpayers over $200 million a year.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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Corn farmers should feed people, not cars

Aug. 20, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging President Donald Trump stand firm on granting ethanol waivers to a limited number of refiners:

“President Trump was 100 percent right when he ordered exemptions to the ethanol mixing requirements for a few oil refineries that were threatened to be shut down due to the costs of complying with the Renewable Fuel Standards.  Now, King Corn in Iowa is raising its ugly head demanding that every oil refinery bow even if it breaks their business.  Here is the truth, we should not burn food in our automobile engines at all.  It is inefficient and bad for the engines.  What’s more, as more and more vehicles go electric, less and less corn will be needed in oil based fuel. Americans for Limited Government believes that the Renewable Fuel Standard itself should be eliminated as an unnecessary market intervention.  But if government policy is to provide an additional market for King Corn, then these subsidies should instead be directed toward feeding people both domestically and around the world. Foolishly burning food in our fuel tanks while the USDA reports that 42.7 million Americans are on food stamps is cruel.  If Iowa farmers want to exert their political clout at the first presidential caucus, one would hope that they would at least compel federal taxpayers to buy corn to feed people not automobile engines. At the same time, the 2022 fuel mandate that requires the use of other non-corn-based biofuels should be eliminated in its entirety. Let’s return America’s farmers to the noble job of providing food rather than poor fuel substitutes.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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DoD whistleblower Adam Lovinger is a hero and should be rehired immediately with lost pay compensation

Aug. 19, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging that Department of Defense whistleblower Adam Lovinger be rehired after reports vindicate his finding that the Office of Net Assessment failed to properly audit contractors:

“Adam Lovinger did his job.  He pointed out that the Department of Defense’s Office of Net Assessment failed to properly audit contractors and require that they actually do the work for which they were paid and a just released Inspector General report has proven Lovinger’s allegations to be true in the case of the infamous Stefan Halper, who was identified as someone who sought to infiltrate and spy on the Donald Trump campaign for president in 2016.

“Lovinger’s whistleblower claim has been born out, and it is outrageous that the same career bureaucrats who authorized what appear to be fraudulent studies, were able to punish Lovinger and fire him for standing up for the taxpayer.  The Acting Secretary of Defense should immediately reinstate Lovinger with full back pay and whatever compensation he is entitled to under the laws put into place protecting whistleblowers from reprisals.

“Mr. Lovinger is an example of what the best in our civil service should be about, and the fact that he and his family have suffered enormous financial loss simply because he had the audacity to point out that DoD contracts were not being fulfilled is unacceptable and he needs to not only be made whole.  In terms of those career bureaucrats who abused the system and Mr. Lovinger, civil service personnel actions should be taken against those who were more interested in covering up the spending scandal than protecting the public treasury.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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ALG urges Congress to defund radical environmentalists, end sue and settle and reform the Endangered Species Act

Aug. 19, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the need or Congressional action to reform the Endangered Species Act:

“The Endangered Species Act has been twisted to serve the goals of the Left rather than the recovery of endangered species. Outrageously, left-wing environmental groups are allowed to submit piles of frivolous petitions for endangered species status — tying the federal bureaucracy up in knots — and then sue when the government is unable to respond promptly to these petitions. These groups, such as WildEarth Guardians and the Center for Biological Diversity, are often able to collect exorbitant attorney’s fees for these cases. What’s further galling is that some of these same groups suing the government receive federal contracts and grants. Simply put, left-wing groups should not be paid to keep federal employees from doing their jobs, and so Congress must step in, end the sue and settle financial scam and reform the Endangered Species Act to end this insanity.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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EPA right to grant waivers to refiners under Renewable Fuel Standard

Aug. 12, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising the EPA for granting waivers to distressed oil refiners under the Renewable Fuel Standard:

“The Environmental Protection Agency is right to grant waivers to a limited number of distressed small U.S. oil refiners from the Renewable Fuel Standard (RFS.)  The RFS requires all refiners to blend biofuels like ethanol into gasoline or purchase credits from others that do in order to remain in business.  While these waivers might disappoint the corn lobby which would rather bankrupt small refiners through the cost of credits than give an inch in their demand for fealty to ethanol, the EPA’s waiver decision balances the mistaken federal government policy to promote burning corn in our automobile engines with the financial needs of refiners who foot the cost of adding corn to superior performing oil in making gasoline.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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Say no to billionaire leftists’ gun control push

Aug. 9, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging Congress to support the individual right to keep and bear arms under the Second Amendment:

“Billionaire leftists like George Soros, Bill Gates, Michael Bloomberg and John Arnold are spending millions of dollars to exploit the tragedies of El Paso and Dayton to undermine the individual right to keep and bear arms. Whether it be Soros’ campaign to elect anti-gun prosecutors who fail to fully enforce the law against violent criminals while aggressively pursuing enforcement of fraudulent red flag claims without due process, or Gates, Bloomberg and the Arnold Foundation that have spent their resources convincing so-called moderate Republicans that they can be just a little bit pregnant when they support slippery slope measures leading to gun confiscation, it all leads to the same outcome. Every American gun owner who simply believes in individual liberty should contact their Congressmen, Senators and the President and tell them to say no to the billionaire leftists and support the right to keep and bear arms and due process.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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Trump sanctions on Venezuela put the pressure on, 90-day waiver for U.S. oil interests should be extended indefinitely

Aug. 8, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising President Donald Trump’s sanctions on Venezuela and urging the 90-day waiver for U.S. oil interests to be extended indefinitely:

“President Trump is wisely imposing economic sanctions and tightening the financial screws on the exceedingly corrupt Nicolas Maduro regime In Venezuela. However countries like China and Russia have been actively working against the U.S. by sending billions into Venezuela, financially propping-up Maduro’s failed Socialist regime. Most importantly, President Trump has shown a strategic deftness in extending a 90 day waiver to U.S. energy companies operating in Venezuela, a country that presently controls access to the world’s largest known oil reserves.  China and Russia crave both Venezuela’s oil and the geopolitical foothold it provides in the southern Caribbean less than 3,000 miles off our America’s Gulf Coast, and the President’s actions send a clear signal their continued meddling will not stand.

“However, in order to assure long-term operational security when the duly elected government of Juan Guaido gains the levers of power in Caracas, it is essential that the 90 day waiver for the American energy industry be extended indefinitely.  U.S. oil companies found and developed the fields in Venezuela in the 1920s, and by 1950, the South American country enjoyed the second largest GDP per capita in the world, behind only the United States.  The murderous Maduro regime has accelerated the devastation of the nation’s economy begun by Hugo Chavez with the per capita GDP shrinking to levels not seen since 2000.  While Maduro has taken a wrecking ball to Venezuela, maintaining basic U.S. interests in operating their oil fields will allow a democratic president Guaido to restore national prosperity, free from Chinese and Russian entanglement in Venezuela’s most precious financial asset – its vast oil wealth.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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ALG urges Congress and candidates for President to join President Trump in denouncing all political violence

Aug. 5, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging members of Congress and candidates for President to join with President Donald Trump in denouncing all political violence:

“While the nation grieves the senseless loss of life in El Paso and Dayton, President Donald Trump has rightly denounced the racist, white nationalist attack in El Paso and the attack in Dayton by a radical, pro-Antifa leftist who thought his political opponents were Nazis who deserved to die. There is nothing controversial about denouncing political violence, all of it, and we call upon Republicans and Democrats to do so, regardless of the political motives of the killers.

“The Dayton attacker was an Elizabeth Warren supporter, yet none of the Democratic candidates for President have denounced the Dayton shooter’s violent revolutionary leftist ideology that legitimizes Antifa, and they should do so immediately. Ignoring Antifa will not make them go away, it will only empower them and encourage further acts of violence. When a Bernie Sanders supporter shot up the Republican congressional baseball practice in 2017, he immediately denounced it. That is what leaders must do when violence is perpetrated in their names.

“We need to come together as one nation to denounce political violence of every stripe and all violent ideologies that contribute to it. Nobody should get a pass. The El Paso shooter was a racist ideologue who embraced the Christchurch mosque manifesto and wanted to kill immigrants and Hispanics. The Dayton shooter was a leftist who called the ICE firebomber in Tacoma targeting federal law enforcement a ‘martyr,’ embraced misguided comparisons of immigration enforcement to the Holocaust, the Gestapo and concentration camps, and promoted targeted violence against his perceived political opponents. Individuals can be radicalized on the left and on the right. Only denouncing political violence and terrorism on one side is no denouncement at all, it is empty partisan blindness that contributes to the problem. We call upon every member of Congress and candidate for President to join with President Trump in denouncing all of the violence and to join with him in confronting radicalism and extremism in our midst.”

Attachments:

“Massacres in El Paso, Dayton underscore that political violence right or left is never the answer,” By Robert Romano, Aug. 4, 2019 at http://dailytorch.com/2019/08/massacres-in-el-paso-dayton-underscore-that-political-violence-right-or-left-is-never-the-answer/#comment-4566783811

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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Economy keeps on chugging along as jobs created since Jan. 2017 rises to 5.16 million

Aug. 2, 2019, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to the latest jobs numbers:

“283,000 more Americans were employed in July than in June with the number not in the labor force shrinking by 183,000.  Over the past twelve months, the number of employed has jumped by more than 1.3 million about 200,000 more than the civilian labor force increased. Since Jan. 2017, the Trump economy has produced 5.16 million jobs in the household survey.

“Americans continue to see job opportunity growth that is positively impacting people across the socio-economic spectrum with average hourly earnings continuing to rise. July’s Labor Department report shows that our nation’s economy continues to grow and move forward with the only thing holding it back being a shortage of workers.  That will be the economy’s challenge over the next few years, as baby boomers continue to retire out of the workforce, identifying, encouraging and skilling those who are currently out of the workforce to meet our nation’s future economic needs.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1 or at media@limitgov.org.

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