PRESS RELEASE OF GREG CONLON FOR CONGRESS:
Conlon Believes U.S. Fiscal Policies Need to Change and Federal Government Expenses Need to be Cut 10% to Reduce the Prices of Gasoline and Oil in The U.S.
SAN CARLOS, Calif., June 19 (SEND2PRESS NEWSWIRE) — Greg Conlon, recently elected in the June Primary Election as the Republican Candidate for U.S. Congress in California’s 12th District, believes Congress and the country’s fiscal policies need to change to strengthen the value of the dollar and significantly decrease oil and gasoline prices in the U.S. The 12th District includes most of San Mateo County and the Southwestern portion of the City of San Francisco.
Conlon believes one important reason for the increase in gasoline prices can be attributed to the declining value of the dollar compared to foreign currencies. As an example the U.S. dollar compared to the Euro-dollar has gone down almost 25% in the last year, with the exchange rate going from $1.30 per Euro dollar at the beginning of last year to almost $1.60 today. Conlon is recommending changes he believes, as does his economic advisor, would strengthen the value of the dollar to its level at the beginning of 2007 and cause U.S. gasoline and oil prices to drop significantly.
According to Conlon, much of the responsibility for the declining dollar and the rise in
gasoline prices rests with Congress and its deficit spending. Conlon believes a 10% cut in government spending, across the board, coupled with an increase in interest rates by the Federal Reserve, as soon as the Fed believes appropriate, would send a message to the world that this country is serious about getting its financial house in order. His recommended cuts would specifically exclude certain national security expenses, as well as expenditures to remedy any natural catastrophes and expenses to protect the indigent and low income citizens. He believes that the adverse effect on the nation’s economy from an increase in interest rates could be offset by an economic benefit from a significant decrease in oil and gasoline prices in the U.S.
Conlon bases his 10% cut in government spending recommendations on his professional background as a businessman and CPA and his experience as a Commissioner and President at the California Public Utilities Commission (CPUC), which cut its budget by 10% in one year to help meet the financial crisis in California in the early 1990’s. The CPUC experience indicates that such cuts can be made without seriously affecting the service levels of the agency. Conlon believes the federal budget cuts he recommends will not seriously affect the service levels of most federal government agencies either. He believes these two recommendations should strengthen the dollar and significantly reduce oil and gasoline prices in the U.S.
His recommendations are also consistent with one of the three planks in his platform: to balance the budget without increasing taxes.
See his website www.gregconlonforcongress.com for the other planks in his platform under the “issues” tab.
Greg Conlon for Congress, Republican Candidate for Congressional District 12, 461 Laurel Street, San Carlos, CA 94070.