Productivity decrease signals more inflation trouble

ALG warns record productivity decrease combined with higher costs of labor is a dangerous mix.

May 6, 2022, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement regarding the sharp decline in United States productivity in the first quarter of 2022:

“The Bureau of labor announced that productivity in the United States declined by 7.5 percent in the first quarter of 2022. This is a flashing red danger sign that more inflation is looming. The drop in productivity is the largest recorded since 1947. In simple terms, this means that the labor costs associated with producing products in America is skyrocketing. This is particularly concerning due to the fact that increasing wages are not included in the productivity calculation.”

“The combination of record decrease in productivity along with the higher cost of labor is a witch’s brew signaling increased inflationary pressures in the months ahead.”

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

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Bidenflation is going to get worse- government report

April 13, 2022, Fairfax—The United States Department of Labor’s Bureau of Labor Statistics released the March Producer Price Index (PPI) report and the numbers are ugly. Americans for Limited Government President Rick Manning responded with the following statement:

“If you think inflation is bad now at 8.5 percent, hold onto your hat. The producer price index went up 1.4 percent in March alone. If that rate were to continue for an entire year, it would be a 16.8 percent increase on the cost of providing goods and services before profit and other costs are included. The Biden Presidency is leaving a mark on every American’s pocketbook unlike any president since Jimmy Carter in the late 1970s. Unfortunately, the only answer offered by this failed administration is to blame Putin. What Joe Biden doesn’t seem to understand is that when you set the inflation house on fire and keep pouring gasoline on it through federal spending schemes, anti-energy policies and failed foreign policies, you don’t get to blame the guy down the street for fanning those flames you allowed to consume most of the house.”

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

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Congress must stop spending now to prevent runaway inflation

Inflation hurts everyone and runaway inflation is the hidden tax impacting every American that pays for our nation’s massive deficits by destroying the value of the dollar.

Fairfax, Va. – Wholesale prices increased at their quickest pace on record in November in the latest sign that the inflation pressures bedeviling the economy are still present.

Americans for Limited Government President Richard Manning released the following statement in reaction to the producer price index for final demand increasing 9.6% over the previous 12 months after rising another 0.8% in November:

“Every single month that Joe Biden has been president has resulted in an increase in the Final Demand Index of the Producer Price Index – a key indicator of future price expectations.  November continued that trend as the overall Producer Price Index (PPI) rose another .8 percent.

“This matters because the (PPI) is a measure of prices from the perspective of industries that make products, rather than the price paid by consumers.  While there is some debate over the predictive nature of the PPI as it relates to consumer prices, it is obvious that a price rise of 9.6 percent in the cost of production will be passed along to the consumers.  Last week, the Labor Department announced that inflation had risen by 6.8 percent over the past year and today’s PPI release makes it clear that more price inflation is on the way.

“But inflation is about more than numbers, it is about the person who needs to get an inexpensive used car to get to their job and discovers that used car prices have skyrocketed over the past year.  It is about the person who got a raise six months ago and today make less money in real dollars than they did before Biden became president.  It is about people on fixed incomes who are scraping by as it is discovering that the limited dollars they have just won’t stretch far enough to meet a meager budget.

“Inflation hurts everyone and runaway inflation is the hidden tax impacting every American that pays for our nation’s massive deficits by destroying the value of the dollar.  Somehow, I don’t think that anyone signed up for a 6.8 percent tax increase when they voted one year ago, but the combination of last year’s COVID recovery spending and this year’s stimulus bills have brought the chickens home to roost.  It is time for Congress to stop spending and for the President to evaluate all of the appropriated spending and ask for Congress to rescind much of the money that is in the pipeline to be spent.  I don’t expect them to do that, but our best hope is that they stop appropriating additional spending so our nation can work through this inflationary cycle without it turning into an economic catastrophe.”

For media availability contact Catherine Mortensen at cmortensen@getliberty.org or 703.478.4643.

Americans Can’t Afford Joe Biden’s America

We cannot afford to hit the accelerator when we are already feeling the pain of inflation.

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Fairfax, Va. – Americans for Limited Government President Richard Manning issued the following statement in reaction to the Bureau of Labor Statistics August Producer Price Indexes which showed on an unadjusted basis, the final demand index rose 8.3 percent for the 12 months ended in August, the largest advance since 12-month data were first calculated in November 2010:

“The Producer Price Index is a precursor to what retail prices will be doing in months ahead, and the August report is more bad news. The 8.3 percent annual increase in final demand signals that Americans will be paying much more for goods and services in coming months and verifies what everyone who pays their own bills already knows, Joe Biden’s America is a much more expensive place to live and it is going to get worse.

“It is time for Congress to just put a stop to the madness and refuse to pass the budget reconciliation bill. Our nation cannot afford to hit the accelerator when we are already feeling the inflation pain from our prior debt excesses.”

For media availability contact Catherine Mortensen at 703.478.4643 or cmortensen@getliberty.org.

To regain House and Senate Majorities GOP must put the brakes on spending

 Republicans Must Embrace Fiscal Restraint, Just Say No to Both Infrastructure Bills

Fairfax, Va. – Americans for Limited Government President Rick Manning issued the following statement today urging Senate Republicans to reject both so-called infrastructure spending bills under consideration:

“With recent polls showing that nearly 9 in 10 voters are worried about the rising cost of living, Republicans seeking to regain House and Senate majorities in 2022 are wise to embrace the principle of fiscal restraint. It would be a bad look for Senate Republicans to go along with legislation that promises almost $580 billion of deficit-spending over eight years, averaging $72 billion a year, and who knows what’s in years nine and ten. Moreover, by green lighting this spending on a 60-vote threshold, Senate Republicans who go along with it will be providing deficit offset wiggle room for the Democrats’ second spending bill they plan to push through on budget reconciliation. That bill could total as much as $3.5 trillion. If Congress doesn’t pass the first spending bill, it would mean the second bill would have to be significantly watered down. If Democrats wanted a deal with Republicans, they should take their second bill off the table. The fact they haven’t should make this Senate deal a non-starter.

“If the GOP wants to regain the mantel of fiscal responsibility, its members in Congress cannot pretend that adding an additional $72 billion a year to the annual deficit above and beyond the regularly authorized debt is okay. It is not and it is dangerous. It is time to just say no to the off-budget spending that has thrown our nation into a debt induced downward spiral.”

For media availability contact Catherine Mortensen at 703.478.4643 or cmortensen@getliberty.org.

Inflation Continues to Surge Across All Items

Congressional Republicans need to say no to the partisan spending boondoggle

Fairfax, VA. – Consumer prices rose 0.9 percent in June, according to data released Tuesday by the Labor Department, heating up from the previous month.

The consumer price index (CPI), a closely watched gauge of inflation, increased to an annualized rate of 5.4 percent last month amid a summer rush of economic activity.

Americans for Limited Government President Rick Manning issued the following statement in reaction to the news:

“Inflation continues to surge across all items at an annualized rate of 5.4%.  But prices are not really rising at that low of a level, in the five months since Joe Biden entered the White House, the rate has grown at .66% each month or a 7.9 percent annualized inflation rate.  Every consumer sees the price increases, and according to the BLS, the pain of higher prices was spread throughout the economy in June.  What is the answer to this hidden government tax which results from wanton spending?  Stop or slow the spending.  This means that Republicans in Congress need to just say no to the Biden/Pelosi/Schumer partisan spending boondoggle which they call an infrastructure plan.  America broke the bank to recover from the Chinese virus, it is time for the federal government to tighten its belt rather than accelerate price increases.

“Everyone loses under inflation, but those with the least disposable income and those on fixed incomes are hurt the worse.  There should be a bipartisan agreement to stop fueling the destruction of the value of the American dollar, but spending in DC is like heroin, it is hard for politicians to kick the habit.  The American people need to stage an intervention and tell Congress to stop the spending now.”

For media availability contact Catherine Mortensen at cmortensen@getliberty.org or 703.478.4643