Economic Policy News
The Daily Signal provides economic policy news with reporting, analysis, and commentary on markets, growth, and fiscal responsibility.
-
- Opinion
Grim Budget Projections Show Need for More Congressional Action, Less Rhetoric
A recently released congressional report shows the depth of American fiscal problems and the need for lawmakers to tackle the nation’s dire financial situation. On Tuesday, the Congressional Budget Office released its 2016 Long-Term Budget Outlook. The annual publication projects the levels of U.S. spending, taxes, deficits, and the debt for the next 30 years….Justin Bogie -
- Opinion
How the Federal Government Can Get Its Spending Under Control
The federal government has a spending problem that threatens to swallow up the resources of the American taxpayer and crush the American economy. Congress can begin to solve this dilemma if it expands self-imposed restrictions to the part of the budget that is driving the country toward crisis. With Congress reneging on its promise to…Justin Bogie -
- Opinion
These 3 Conservative Policies Have Allowed Indiana’s Economy to Flourish
Last month, America’s economy added just 38,000 jobs, the weakest growth in five years. We should expect more than the lackluster 2 percent growth we’ve grown accustomed to under President Barack Obama. Luckily, there is already a successful working model in my home state of Indiana to accomplish this. The recession hit Indiana harder than most states….Sen. Dan Coats -
- Opinion
America’s Next President Must Fix Autopilot Entitlement Spending
A recent report by the Committee for a Responsible Federal Budget raises concerns that proposals by this year’s presidential candidates would further increase the national debt. America’s major entitlement programs—Medicare, Medicaid, Obamacare, and Social Security—are driving the nation’s greatest fiscal challenge, and yet Americans have heard very little about how the candidates will address these…Christian Chelak -
- Opinion
What Does Brexit Mean for America’s Economy?
Last Thursday, British voters chose to leave the European Union, 52 percent to 48 percent. The vote will have significant political implications in the U.K. and may tilt the balance of influence in Brussels, but it is likely to have little lasting economic impact on Americans. The U.S. exported $56.4 billion worth of goods to the U.K. in…Salim Furth -
- News
Koch Group Pushes 2-Year ‘Stop, Cut, and Fix’ Spending Plan on Congress
To put Washington’s fiscal house in order, an organization inside the conservative Koch network is pushing Congress to skip a budget and move straight to a two-year spending bill instead. Dubbed “Stop, Cut, and Fix,” the plan calls for a continuing resolution that would fund government in fiscal years 2017 and 2018 at current spending…Philip Wegmann -
- Opinion
New Peruvian President Pledges to Fight Populism and Expand Economic Freedom
It was the latest encouraging sign that Latin Americans are abandoning populist leftism in favor of market-based democracy. Last week Pedro Pablo Kuczynski, a conservative 77-year old former World Bank economist and investment banker better known by his initials, “PPK,” narrowly defeated right-wing populist Keiko Fujimori, daughter of autocratic former Peruvian president Alberto Fujimori. Peru’s…James M. Roberts -
- Opinion
Congress Should Not Use Defense Budget as Piggy Bank for Personal Priorities
The defense budget should be used to pay for things that make our country more secure and help the men and women in uniform accomplish their mission. Unfortunately, some in Congress use this funding as a piggy bank for their own unrelated priorities. In fact, for the current fiscal year, Congress took almost $500 million…Justin Johnson -
- Opinion
Venezuela’s Crisis Is the Latest Example of Why Socialism Doesn’t Work
It seems the “Socialism of the 21th Century” is really no different from socialism from the past. Venezuela’s current tragedy, simultaneously culminating in food shortages, a crime epidemic, and an energy collapse, is the latest example of why centralized planning economy does not work—and how it is indistinguishable from tyranny. In the South American country,…Gabriel de Arruda Castro -
- Opinion
Congress Should Think Twice Before Creating Another Mandatory Spending Program
The latest development in Congress’s ambition to achieve “regular order” is the push to reauthorize the water resources development programs last authorized in 2014. But one provision in the House’s bill would actually work against Congress’s ambition for order by moving a large portion of spending out of the regular appropriations process. Both the House…Michael Sargent -
- News
Is It Time to Increase Defense Spending? McCain Proposal Sparks Debate
At a time when the U.S. is in combat in Afghanistan, Iraq, and Syria, while facing the constraints of sequestration, Sen. John McCain is setting up a dramatic debate on defense spending as he and his colleagues consider the annual defense policy bill. On Wednesday, citing what he calls a “dangerous mismatch” between worldwide threats,…Josh Siegel -
- Opinion
A Skeptical Look at Regulatory Budgeting
The burden of federal regulation on the U.S. economy has often been compared to a tax. Unlike ordinary taxation, however, these regulatory burdens are not accounted for in the federal budget. Unfortunately, the vision is as unattainable as it is tempting. Some members of Congress would like to create a “regulatory budget” specifically to limit…James Gattuso -
- Opinion
Thanks to GOP, Washington’s Summer Spending Spree Has Started
Washington’s summer spending spree is off to a very bad start for taxpayers. Congress couldn’t agree on a budget deal earlier this spring, but that isn’t stopping them from passing spending bills at historic levels. And President Barack Obama is fully engaged in budget gimmickry as well. The good news is that the majority of…Genevieve Wood -
- Opinion
The Case for a Regulatory Budget
The federal regulatory state is out of control. It is out of control economically, costing Americans between $1 trillion and $2 trillion per year in artificially inflated prices. And it is out of control politically, as federal bureaucrats now write upwards of 95 percent of all new federal “laws” without winning a single vote in Congress or…Sen. Mike Lee -
- News
House Conservatives Mull Budget ‘Trigger’ That Could Reduce Federal Spending
Conservatives are considering a budget compromise that would reduce spending by $30 billion unless the House is able to pass at least 10 appropriations bills. The “trigger” proposal, first reported by Roll Call, is the latest spending suggestion designed to break a stalemate in the ongoing budget battle. A long shot and a bit of…Philip Wegmann -
- News
House Republicans to Move Forward on Spending Without a Budget Number
House Majority Leader Kevin McCarthy, R-Calif., just ended a civil war that has raged inside the chamber’s Republican conference for months. GOP leadership will not bring a budget plan to the floor next week for a vote, McCarthy’s office told Politico Thursday afternoon. And without a budget resolution, the House Appropriations Committee can begin moving…Philip Wegmann -
- News
The Left’s Push to Get Rid of Government Spending Transparency
How transparent is your state government’s budget? According to North Dakota Treasurer Kelly Schmidt, it can vary widely from state to state. In an interview with The Daily Signal, Schmidt explains why no matter where you live, citizens should be aware of a growing movement among liberal lawmakers to make it harder for you to…Genevieve Wood -
- News
How Republicans Lost Control of the Spending Fight in Congress
Republicans arrived in Washington this year promising a return to “regular order” in Congress. It was a hallmark of Paul Ryan’s quest to be House speaker and Mitch McConnell’s way of showing that the Senate could get things done. Gone were the days of omnibus spending bills and continuing resolutions—or the dreaded combination of the…Robert B. Bluey -
- News
House Freedom Caucus Chairman Vows to Push Conservative Amendments to Spending Bills
The chairman of the House Freedom Caucus said Wednesday that Republicans should be able to put forth “conservative policy riders” to appropriation bills. “If we really are about quote ‘regular order’ then that means the ability to offer amendments and push for those policy changes that we think make sense,” Rep. Jim Jordan, R-Ohio, told…Josh Siegel -
- Opinion
Brazil’s Presidential Woes Reflect Lack of Economic Freedom
The Financial Times reports that on Sunday, April 17, “the lower house of Brazil’s congress is set to vote on the motion to impeach President Dilma Rousseff in a move that her critics hope will spell the end for the former Marxist guerrilla and the markets’ longtime nemesis.” According to the Wall Street Journal, the…James M. Roberts