Economic Policy News
The Daily Signal provides economic policy news with reporting, analysis, and commentary on markets, growth, and fiscal responsibility.
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opinion
The Budget Is at a Crossroads. Which Path Will Congress Take?
Thanks to the latest massive budget deal passed by Congress, our nation’s fiscal situation is deteriorating even more quickly than before. That’s the main takeaway from the Congressional Budget Office’s updated economic projections for fiscal years 2019-2029, released on Wednesday. The latest estimates reiterate that the federal government continues to live beyond its means. The… -
opinion
Each American Is $240,000 in Debt Because of Excessive Government Spending
As Americans, we are greatly indebted not only to the men and women who have fought and died for our country, but also to the thinkers, statesmen, innovators, and ordinary people who gave us our founding principles. This debt is paid back not with money, but with a commitment to the active and vigilant self-government… -
opinion
Here’s a Promising Plan to Finally Get a Grip on Federal Spending
The massive spending deal, negotiated by Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi and agreed to by the president, looks poised to kill off the Budget Control Act of 2011—the law that was meant to restrain federal spending. With that law on the way out, the question arises: Where can fiscal conservatives turn… -
news
Hill Conservatives Sound Alarm Over Spending Deal
Some conservatives in Congress are denouncing a spending compromise between President Donald Trump and congressional Democrats “that increases spending by about $2 trillion over the next 10 years, but provides only $77 billion in offsets,” according to the chairman of the Republican Study Committee. “While conservatives can appreciate the agreement’s restrictions on poison-pill riders, the… -
opinion
Sen. Braun Describes How He’s Trying to Bring ‘Accountability’ to Washington’s Spending
Sen. Mike Braun, R-Ind., joins the podcast to explain the downsides of the new spending bill and how his MAP Act would boost the economy. The CEO-turned-senator, a newcomer to Washington, D.C., also shares why it seems so hard to get any kind of spending control to occur in Congress. Read the exclusive interview, posted… -
opinion
What Led to This Nasty, Ugly Spending Bill
Americans should not be celebrating the spending deal agreed to by congressional leaders and President Donald Trump. They should be appalled and insist Washington stop spending money we do not have. The debt currently stands at a jaw-dropping $22 trillion, or $67,000 for every man, woman, and child in the country. Worse, it’s set to… -
opinion
Massive Budget Deal Would Add Huge Debt on Trump’s Watch
Trillion-dollar deficits are back, and they’re here to stay. That’s the message being sent by President Donald Trump and congressional leaders through their recently agreed to budget mega-deal, announced on Monday. The Bipartisan Budget Act of 2019 is the fourth two-year agreement to raise the discretionary spending caps set in 2011 as part of the… -
opinion
Global Threats Make US Defense Spending an Urgent Priority
America needs to have a serious debate about the nature of its national defense and associated budget. Questions such as how the country should deal with the rising challenge of China, Russia’s adventurism, as well as the threats posed by the rogue regimes of Iran and North Korea need serious consideration and discussion. That’s why… -
opinion
Leader McCarthy: House Democrats Dead Set on Erasing Economic Gains
Over the last 18 months, the American economy has grown at a record-breaking rate, and the results have had a far-reaching positive impact on communities nationwide. Since January 2017, 5.6 million jobs have been created with the help of Republican-led tax reform, deregulation, and other pro-growth reforms. The unemployment rate is near a 50-year low… -
opinion
Switzerland Has a Budget Surplus. Here’s How, and What the US Could Learn.
As much of Washington seems resigned to sit idly by and allow the federal government to gorge on trillion-dollar deficits and push the national debt to 78% of gross domestic product—the highest levels in the post-World War II era—it might seem like a fiscally prudent budget is the stuff of fantasy. After all, the Congressional… -
opinion
Most G-20 Countries Aren’t Economically Free. The US Can Help Change That.
Although much of the focus at this weekend’s G-20 summit in Osaka, Japan, will be on the U.S-China impasse on trade and other issues, more attention should be paid to the sorry record that most G-20 countries have when it comes to economic freedom. Each year, The Heritage Foundation ranks countries according to their levels… -
opinion
Economic Freedom Key to Ensuring We Have Dynamic Entrepreneurs
THE HAGUE, Netherlands–Proactively promoting entrepreneurship, innovation, and economic freedom continues to be a critical pillar of U.S. engagement with the world. One sign of this is the Global Entrepreneurship Summit, which the United States co-hosts this week with the Netherlands. Secretary of State Mike Pompeo and Dutch Prime Minister Mark Rutte opened the 2019 summit… -
opinion
Trump’s Proposed Budget Adopts 61% of Heritage Proposals
“Can Congress Avoid a Debt Default and $125 Billion in Spending Cuts?” That’s the scary headline of a New York Times article by Emily Cochrane this week. The headline refers to the looming debt limit deadline, when the Treasury will run out of authority to continue borrowing, absent a change to the law. The timing… -
news
3 Things to Know About a Disaster Spending Bill Conservatives Couldn’t Stop
A $19.1 billion disaster aid bill that faced significant opposition from conservative Republicans passed the House on Monday evening by a lopsided vote of 354-58. Only Republicans voted against the measure, which includes funding in the aftermath of hurricanes, wildfires, and other storms as well as money to help Puerto Rico rebuild from hurricane damage… -
opinion
10 Ways Heritage’s Budget Plan Cuts Unfair Handouts and Waste
The federal government has more programs than anyone can ever hope to count. Each year it spends trillions of dollars, much of which is wasted or used for politically connected groups. This has shamefully saddled America with a disastrous debt of $22 trillion—the equivalent of $173,000 for every household in America. All of this might… -
opinion
The Blueprint for a Balanced Budget That Can Still Cut Taxes
If Congress doesn’t act, Americans’ taxes will automatically increase in the coming years. The 2017 tax cuts are temporary, and some of those taxes are scheduled to start increasing in three years’ time. Last year, American families of four saw their taxes cut by an average of $3,000. The typical taxpayers benefited from getting to… -
opinion
Heritage’s ‘Blueprint for Balance’ Has Real Fixes for Our Spending Crisis
Among the many things that frustrate Americans about Washington, D.C., is the unwillingness—not inability, but unwillingness—to solve problems. One of many examples is the U.S. national debt, now more than $22 trillion and counting. As Heritage Foundation President Kay Coles James has written, “The federal budget is at the core of our political system. Everything… -
opinion
Skyrocketing Debt Too Important to Be Paired With Spending Deal
Two major issues that Congress will be forced to confront in the coming weeks and months are the debt limit and the future of the Budget Control Act discretionary spending caps. A report from The Hill indicates that negotiations are underway between Congress and the Trump administration to combine a two-year budget caps deal with… -
news
Heritage Foundation Blueprint Would Balance Budget While Cutting Taxes, Stressing Defense
Balancing the budget while reducing taxes and prioritizing national defense are the main goals in a blueprint for smarter government spending released Monday by The Heritage Foundation. The think tank’s new “Blueprint for Balance” “lays out an agenda both for our long-term governing vision [and] what our conservative policy priorities [are] that we want lawmakers…