Economic Policy News
The Daily Signal provides economic policy news with reporting, analysis, and commentary on markets, growth, and fiscal responsibility.
-
- Opinion
Trump’s Budget Moves Higher Education in the Right Direction
President Donald Trump released his budget proposal on Tuesday, which includes some dramatic changes to higher education funding. While there is still room for improvement, the president’s proposals would be a significant first step in reducing the federal government’s role in higher education and giving much-needed relief to the U.S. taxpayer. Elimination of Public Service…Mary Clare Amselem -
- Opinion
The Education Budget Has a Lot to Love and a Little to Critique
The Trump administration’s full budget for education for fiscal year 2018 would make some long-overdue cuts at the Department of Education. The proposal targets reductions in spending totaling $9 billion—a 13 percent cut in the agency’s current $68 billion annual budget. That type of reduction signals a serious commitment to reducing federal intervention in education—a…Lindsey Burke -
- Opinion
Congress Must Embrace These 5 Principles to Create a More Responsible Budget
With this week’s release of President Donald Trump’s fiscal year 2018 budget, the congressional appropriations season is officially underway. Although discretionary appropriations only account for one-third of the federal budget, they are critical in reducing the size and role of the government and provide an opportunity to make a down payment towards the national debt….Justin Bogie -
- Opinion
9 Key Takeaways From Trump’s First Budget
Two months after unveiling his “skinny budget,” President Donald Trump officially submitted his completed budget to Congress. The proposal sends a strong message to Washington that the president intends to jump-start the country’s lagging economy and reign in the size and scope of the federal government. If implemented by Congress, the plan could spark economic…Justin Bogie -
- News
Here’s What’s in Trump’s ‘Taxpayers First’ Federal Budget
The Trump administration will respect taxpayers, balance the budget, return the country to 3 percent economic growth, and push a parental leave requirement in its fiscal plan to be released Tuesday, said Office of Management and Budget Director Mick Mulvaney. Mulvaney called it a “taxpayers first budget.” “This budget was written through the eyes of…Fred Lucas -
- Opinion
Farm Handouts Are Out of Control. Here Are 5 Reasons to Target Them in the Budget.
As Congress and the Trump administration develop their budget plans for the fiscal year 2018 budget and beyond, there’s one area that can provide them significant savings: the out-of-control farm handouts. The current farm handout system, often referred to as the “safety net” for agricultural producers, consists of commodity programs such as two major new…Daren Bakst -
- News
The Major Entitlement Overhaul That Could Be Part of Trump’s Budget
President Donald Trump’s budget proposal, to be rolled out Tuesday, likely will include Medicaid reform. But with several approaches having been floated, definitive answers will have to wait until the White House releases the fiscal plan. During his Senate confirmation hearings in January, Health and Human Services Secretary Tom Price said he would look at…Fred Lucas -
- Opinion
Dodd-Frank Has Crippled Our Economic Recovery. This Bill Would Unleash Real Growth Again.
Have you noticed that free checking accounts are now nearly nonexistent, and locally owned stores are increasing the $5 minimum charge on debit cards? These are not the result of some financial conspiracy. They are a direct result of Dodd-Frank regulations. After the financial crash of 2008, President Barack Obama decided to increase the role…Sondra Clark -
- News
Why Conservatives Are Unhappy With the Final Spending Bill
The House of Representatives, with 103 Republicans voting no, passed a $1.1 trillion spending package Wednesday to keep the government running through September. Conservative lawmakers who opposed the omnibus spending bill in the 309-118 vote said they’re disappointed the final plan doesn’t reflect that Republicans hold the levers of power in Washington. Republicans hold 238…Rachel del Guidice -
- Opinion
Massive Spending Bill Fails to Meet Conservative Priorities
Early Monday morning, congressional negotiators released text of a massive omnibus appropriations bill that would fund the government through Sept. 30. The bill is expected to pass later this week with bipartisan support and avoid a government shutdown. While the bill does make progress on issues like additional defense funding and increasing border security, it…Justin Bogie -
- News
Spending Deal Near After Congress Gives Itself a Few More Days to Craft Package
Hours before the federal government’s spending authority expired Friday at midnight, the Senate advanced a one-week continuing resolution by voice vote, putting spending on autopilot and avoiding a looming government shutdown. The Senate action followed a 382-30 House vote to pass the one-week extension. Without the measure, the government would have run out of money…Rachel del Guidice -
-
- Opinion
Your Household Share of Federal Spending Keeps on Rising. Here’s the Solution.
It’s sometimes hard to fully visualize a massive sum of money. Take $3.854 trillion for instance—the amount the federal government spent in 2016. That’s a lot of money, but America is a large country. It may be easier to picture if we knew how much spending each household would be responsible for if households all…Patrick Tyrrell -
- Opinion
Congress Should Resist Cotton Cronyism in Upcoming Spending Measures
This week, Congress returns to Washington to address government funding. Unfortunately, two costly corporate welfare programs could be expanded. In the 2014 farm bill, Congress created two massive programs whose projected costs to taxpayers have nearly doubled. Originally projected to cost $18 billion over five years, the programs are now projected to cost a shocking…Daren Bakst -
- Opinion
Even With Republicans in Charge, Upcoming Budget Battle Looks Grim
And so it begins. The GOP surrender in the budget battle. Despite all the campaign promises to “rein in government” and “get the country’s fiscal house in order,” the groundwork is already being laid by Republican lawmakers to explain why they just aren’t going to be able to put the brakes on spending after all….Genevieve Wood -
- Opinion
Seattle Ordinance Limiting Landlord Rights Undermines Economic Liberty and Should Be Rescinded
Should a landlord be required to rent an apartment to the first “qualified” person to appear on his or her doorstep? The city of Seattle seems to think so. Its imposition of this obligation, however, is being challenged by the free market-oriented Pacific Legal Foundation, a watchdog organization that litigates nationwide for limited government, property…Alden Abbott -
- Opinion
Why US Economic Growth May Be Stronger Than We Think
Could the U.S. economy be growing more than the official growth figures let on? In a recent National Bureau of Economic Research working paper, “Why is Growth Better in the United States Than in Other Industrial Countries,” Martin S. Feldstein, former chairman of the Council of Economic Advisers, suggests that government statisticians have been underestimating…Michael Marn -
- News
How States Are Trying to Force Federal Government to Control Spending
Georgia state Rep. Paulette Rakestraw helped lead her state to be the first to join a formal interstate compact to push the federal government to balance the budget since she doesn’t believe the federal government will fix its own fiscal mess. “The problem in Washington is the structure, you can replace everyone there and it’s…Fred Lucas -
- Opinion
How Free Trade and Economic Freedom Help the Poor
Today, many people argue that trade disproportionately hurts poor Americans. They say free trade creates a wage gap between low- and high-income earners, and constructs barriers that make it increasingly difficult for the less fortunate to climb the economic ladder. But recent data from The Heritage Foundation shows that this simply is not true. The…Michael Marn -
- News
What’s at Stake in the Coming 4-Day Spending Fight
When Congress returns from its Easter recess April 24, lawmakers will have only four legislative days left to decide on a spending plan that prevents a government shutdown. With such a narrow window, the House and Senate will have little choice but to pass a huge, omnibus spending bill and again put off a return…Rachel del Guidice