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
Trump’s Budget Reaffirms Commitment to Work-Based Welfare Policy
President Donald Trump issued an executive order last April that called for policy reforms to, among other things, “improve employment outcomes and economic independence.” Nearly one year later, the president’s budget proposal for fiscal year 2020 doubles down on this goal by renewing policies to promote work in means-tested welfare programs. Trump’s “Budget for a…Vijay Menon -
- News
Kosovo’s Leaders Say a Durable Peace With Serbia Is Key to Economic Growth
PRISTINA, Kosovo—A former soldier whose nom de guerre was “The Snake,” Kosovar President Hashim Thaçi demonstrates both the easygoing demeanor characteristic of a combat veteran and the polished charisma of a politician as he explains how he has put old animosities aside for the sake of his country’s future. “I want to achieve lasting peace…Nolan Peterson -
- Opinion
Trump’s Budget Would Chip Away at the Debt, but More Work Still Needed
Budget season is officially upon us. On Monday, President Donald Trump released a preliminary sketch of his fiscal year 2020 budget proposal. The outline reflects a good first step toward restoring fiscal sustainability. It would cut spending by trillions of dollars and rejects the notion that another massive budget cap-lifting deal is essential to provide…Justin Bogie -
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Congress Should Separate Debt Limit From Spending Battle
Two major issues will dominate the congressional budget debate over the coming months—the debt limit and the future of the Budget Control Act discretionary spending caps. If past is prologue, Congress may be tempted to deal with the two issues simultaneously as part of one broader debt and spending agreement. That strategy makes it easier…Justin Bogie -
- Opinion
Podcast: What You Need to Know About Spending Bill
As the national debt ticks upward past $22 trillion, Congress is getting ready to pile on yet more debt as it considers a massive omnibus bill. We discuss with Heritage Foundation budget expert Justin Bogie to unpack the good, the bad, and the ugly. Plus: It looks like Republicans called Democrats’ bluff on the Green…Katrina Trinko -
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Sen. Braun to Congress: No Budget? No Pay for You.
The U.S. national debt hit $22 trillion this week for the first time in history. Meanwhile, lawmakers in Congress are ignoring the law and their primary job responsibility by not passing a budget for the federal government. Instead, politicians lurch from one fiscal deadline to the next with no plan to control spending and debt….Romina Boccia -
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Advancing Economic Freedom: A Core Mission for World Bank’s Next Chief
David Malpass, President Donald Trump’s nominee to be the next president of the World Bank, made a reassuring case for himself in a recent commentary in Financial Times. “The World Bank has the opportunity to play a key role in fostering broadly shared economic growth and meeting the challenges presented by the 21st-century economy,” Malpass…Anthony B. Kim -
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Balanced Budget Amendment Proposed as Government Reopens
While federal employees return to work after the historic 35-day partial government shutdown, there is little being said about their employer’s climbing national debt of $21 trillion. Two senators are speaking up again about the problem. Sens. Mike Lee, R-Utah, and Chuck Grassley, R-Iowa, reintroduced an amendment to the Constitution on Thursday requiring the federal…Courtney Joyner -
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Latest CBO Budget Projections Show Why Congress Must Stop Delaying Spending Reforms
America’s spending addiction is continuing to spiral down an unsustainable path, threatening to hurt economic opportunity and financial security for the most vulnerable Americans, especially minorities, low-wage workers, and women—all of whom benefit from the current strong economy. That’s the key takeaway from the Congressional Budget Office’s latest budget outlook projections, released Monday. The short-term…Justin Bogie -
- Opinion
It’s Not Going to Be Easy to Rebuild Venezuela’s Economy
The current crisis in Venezuela is having little impact on global markets. In fact, going forward, there is really little downside economic risk. A huge upside potential exists, however, if the U.S.-led coalition of countries and—more importantly—the Venezuelans themselves are able to exert enough peaceful and nonviolent pressure to force Nicolás Maduro to end his…James M. Roberts -
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3 Ways Economic Freedom Improves Quality of Life
The Heritage Foundation’s 2019 Index of Economic Freedom has just been released, and once again, greater economic freedom has been shown to increase individual and societal well-being in terms of health outcomes, educational achievement, and clean natural environments. Economic Freedom Means aGreater Life Expectancy Life expectancy is an important measure of well-being. The World Health…Patrick Tyrrell -
- Opinion
House Democratic Rules Package Could Mean More Spending, Higher Taxes
As Congress gears up for the new term, the House of Representatives is preparing a vote this week on rules to govern the 116th Congress. A few notable provisions are grabbing the headlines, such as allowing the speaker to “intervene” in challenges to Obamacare, establishing a new select committee on climate change, and making it…Justin Bogie -
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Year-End Spending Deal Contains Troubling Provisions, Busts the Budget
Discussion of the year-end continuing resolution, or spending deal, has hinged on two topics: whether additional funding will be provided for border security, and whether there will be a government shutdown. Although the real-life impact of a partial government shutdown would be minimal, its prospect facilitates end-of-the-world rhetoric that the 24/7 news cycle thrives on….David Ditch -
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Here Are the 5 Worst Budget Blunders of the 115th Congress
The Roman philosopher Seneca wrote that “every new beginning comes from some other beginning’s end.” As Washington anticipates the start of the 116th Congress on Jan. 3, it marks the end of the 115th. In some ways, it was a successful two years. For the first time in over 30 years, Congress passed comprehensive tax…Justin Bogie -
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Senate’s Conservative Prison Reform Advances Trump’s Public Safety and Economic Growth Agendas
Today, senators are debating amended criminal justice legislation that the House passed in May, by a vote of 360-59, with support from President Donald Trump and law enforcement professionals. The bill carefully merges Trump’s agenda on public safety and the economy, using evidence-based reforms from conservative states that have helped to reduce crime. And if…John G. Malcolm -
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The Reasons Protectionists Want to Keep the Economic Pie From Growing Are Half-Baked
During the holiday season, the weather cools and families gather, and we anticipate a delicious family dinner. When dinner comes to a close, we enjoy a classic tradition, pie. When we’re surrounded by loved ones, what could be better? But while the holiday pie will invariably run out—and according to this survey, the pumpkin pie…Amanda Snell -
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Media Misses: How Leftists and Pundits Got It Wrong on the Economy
The media gets it wrong more times than not. But perhaps their biggest “miss” was predicting that the economy couldn’t grow under President Donald Trump. To get the latest in outrageous media bias, be sure to follow us on Facebook, subscribe to our YouTube channel, and send us your Media Misses to [email protected].Jarrett Stepman -
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Congress Considers Voting Away Its Budget Obligations
Congress should be using the lame-duck session to do meaningful work. Unfortunately, it’s doing the opposite: seeking to cut its future workload while leaving long-term problems unresolved. On Wednesday, the Joint Select Committee on Budget and Appropriations Process Reform unveiled draft legislation designed to change the way Congress exercises its constitutionally-granted power of the purse….Paul Winfree