Economic Policy News

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…

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…

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…

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…

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…

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…

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…

“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…

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…

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…

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…

Gabriel Nadales is that rare young adult who became more conservative in college. Once an activist on the left, he started questioning his beliefs after studying economics—and now he promotes free speech at colleges. Read the interview, posted below, or listen to the podcast: Or watch the interview: We also cover these stories: President Donald…

It’s hard to escape the good economic news these days. New reports show that in the first quarter of 2019, the U.S. economy grew by 3.2%, outpacing expectations by almost a full percentage point. In the month of April, unemployment fell to a 50-year low of 3.6%. Businesses continue to add hundreds of thousands of…

Highlighting her recent trip to Africa, Ivanka Trump penned a commentary that makes a strong case for the Trump administration’s Women’s Global Development and Prosperity Initiative. “Despite the incredible difficulties they face, women in Africa are already transcending poverty, creating jobs, and pioneering a brighter future,” the first daughter wrote in an op-ed for CNN….

A recent report by the McKinsey Global Institute affirms that the recipe for wealth and prosperity encompasses economic freedom as its main ingredient. As a vital component of human dignity and autonomy, economic freedom is valuable as an end in itself. Just as important, however, is the fact that economic freedom provides a proven pathway…

Members of Congress are promoting the concept of changing three programs from the discretionary category (requiring annual appropriations) into mandatory (auto-pilot) spending. Such changes would become a huge backdoor spending increase. Spending limits have come under relentless attack from both parties. In 2013, 2015, and 2018, Congress passed massive spending increases with little to no…