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
Here Are 5 Things the Senate’s 2020 Budget Would Do
The Senate Budget Committee will move one step closer to producing a new budget this week when it meets for a mark-up hearing on its fiscal year 2020 budget resolution. The proposal as it exists now would take steps to avoid another irresponsible budget deal and would eliminate one particularly egregious budget gimmick. Yet the… -
opinion
Budget Cuts Would Stifle US Broadcasting to Post-Soviet Regions
The Trump administration’s budget proposal for the U.S. Agency for Global Media for fiscal 2020 reflects indifference—if not disdain—for the agency whose self-proclaimed mission is to “inform, engage, and connect people around the world in support of freedom and democracy.” The spending blueprint released on March 18 would reduce the budget for the agency, formerly… -
opinion
Closing So-Called ‘Carried Interest Loophole’ Would Hurt the Economy
Increasing taxes on investment is always a bad idea, and that’s exactly what a new bill in Congress aims to do. Sen. Tammy Baldwin, D-Wis., and Rep. Bill Pascrell Jr., R-N.J., want to increase taxes on investments that support businesses and jobs all across in America. The Carried Interest Fairness Act of 2019 is simply… -
news
Bernie Sanders Says ‘Many Thousands’ Will Die as Budget Chief Predicts Stronger Medicare
President Donald Trump’s budget proposal would extend the life of Medicare by eight years, the administration’s budget chief told a Senate committee Wednesday. But Sen. Bernie Sanders, I-Vt., had a sharp question during the Senate Budget Committee hearing. “How many thousands do you think will die because of massive cuts to Medicare and Medicaid?” Sanders… -
news
Government Lays Out $4.6 Million on Lobster and Crab in Spending Spike
Against the backdrop of a record-breaking $22 trillion in national debt, the revelation that the federal government spent $4.6 million on lobster tail and crab is only one line item in a report that may disturb cash-strapped taxpayers. OpenTheBooks.com, a government watchdog nonprofit working to put all government spending online, has published “The Federal… -
opinion
Trump’s Military Budget Request Would Build on Recent Gains
The Pentagon on Tuesday released the president’s budget request for defense, which calls for the resources needed to sustain the increase in military readiness experienced over the last two years. The total funding request of $750 billion would represent an increase of 4.7 percent over the 2019 budget, largely aligned with the needs expressed by… -
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… -
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… -
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… -
opinion
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… -
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… -
opinion
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…. -
opinion
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… -
news
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… -
opinion
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… -
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… -
opinion
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… -
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… -
opinion
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….