Economic Policy News

The U.S. economy added an impressive 225,000 jobs in January as low unemployment rates continued for all Americans.  The new jobs report shatters the experts’ predictions and continues to make the case that, because of good economic policy, America is flourishing.  This report shows that since President Donald Trump was elected in November 2016, employment…

I have been teaching economics since 1967—40 years of it at George Mason University in Fairfax, Virginia. During that interval, economic reality has not changed. Just as Galileo’s law about the independent influence of gravity on falling objects has not changed, neither have the fundamental principles of economics. Economics is fun and simple. It’s made…

The Congressional Budget Office has released its budget and economic projections for fiscal years 2020-2030. The latest report confirms what the Congressional Budget Office has been telling lawmakers for years: The nation is hurtling toward a spending-driven debt crisis. Without major reforms to mandatory spending programs, it is not a question of if, but when,…

In his State of the State address on Jan. 8, New York Gov. Andrew Cuomo likened 21st-century gig-economy corporations to late 18th- and early 19th-century sweatshops, the latter characterized as such for their poor working conditions, exploitation of workers, and violations of labor laws. By asserting that entirely optional gig and contract-based work “is exploitive,…

Amid the drama surrounding impeachment, both parties came together on one area of shared support: spending enormous amounts of taxpayer dollars and adding to the $23.1 trillion national debt. Congress had little time to properly review fiscal 2020 spending bills, which weighed in at more than 2,000 pages of clunky text. The legislation contained a…

Monica Crowley, Treasury Department assistant secretary of public affairs, joins the podcast to talk about the “incredible economic boom” that followed the tax reform passed in 2017. Read the lightly edited transcript, posted below, or listen on the podcast: Rachel del Guidice: The Daily Signal Podcast is coming to you from the U.S. Treasury Department…

Director Martin Scorsese’s award-winning new film “The Irishman” contains some important history for lawmakers as they prepare to vote on a spending package that would provide a $6 billion taxpayer bailout to one select union. That union is the United Mine Workers of America. For the first time in history, Congress is poised to use…

This month marks the two-year anniversary of the Tax Cuts and Jobs Act, the most sweeping update to the U.S. tax code in more than 30 years. The reforms simplified the process of paying taxes, lowered rates on individuals and businesses, and updated the business tax code so that American corporations and the people they…

Just over a week away from the next deadline for fiscal year 2020 appropriations, Congress still has not passed a single spending bill. If Americans are feeling a strange sense of déjà vu, it is because the current spending uncertainty has played out time and time again. The federal government is already on its second…

Washington is abuzz that private-sector productivity growth has been low for the past decade or so, but do federal policymakers really know how to improve productivity in the American economy? If one very large sector of the economy is any indication, the answer is, regrettably, a resounding “no.” Since World War II, educators, lawmakers, and…

The labor market is incredibly strong and the economic outlook favorable, yet risks remain. That was Federal Reserve Chairman Jerome Powell’s message to Congress on Nov. 13. Powell highlighted many positive features of the economic outlook, including: The economy is in its 11th year of expansion and the “baseline outlook remains favorable.” Unemployment of 3.6%…

A new tax law approved last month by the political party of Mexican President Andres Manuel Lopez Obrador—which holds absolute control of the Mexican Congress—gives the government the right to seize land and assets without legal due process in certain tax evasion cases. These new fiscal enforcement measures could damage Mexico’s economic freedom as well…

On Wednesday, the Senate Budget Committee approved its first bipartisan package of budget process reform proposals in nearly 30 years. The proposal is co-sponsored by Chairman Mike Enzi, R.-Wyo., and Sen. Sheldon Whitehouse, D.-R.I. The federal budget is more than $23 trillion in debt, with additional budget deficits projected to exceed $1 trillion annually for…

No other country in the world has been able to provide government-managed health care without soaking middle-class and lower-income taxpayers with high income and payroll taxes. The “Medicare for All” plan revealed by Sen. Elizabeth Warren, D-Mass., shows how hard it is to raise tens of trillions of dollars without leaving typical Americans economically worse…

The first month of the new federal fiscal year has come and gone with a whimper and not a bang. Congress is hoping to make progress on a package of spending bills, but there’s talk of continuing resolutions and of a government shutdown come Nov. 21.   For thousands of federal employees, contractors, and contracts, we’re…

Few factors are more critical to economic growth than health care. And few threaten future economic growth more than health care spending. That conundrum lies behind continued political agitation over health care, both in the U.S. and throughout the highly developed world. Advances in medicine have eradicated diseases, extended life expectancy, reduced infant mortality, and…