Economic Policy News
The Daily Signal provides economic policy news with reporting, analysis, and commentary on markets, growth, and fiscal responsibility.
-
- Opinion
5 Reasons Why America Is Headed to a Budget Crisis
On Tuesday, the Congressional Budget Office released its preliminary budget and economic outlook for 2016-2026. The report shows that despite temporary improvements over the past few years, the country continues to be on an unsustainable budget path. From the report it remains clear that our nation is on the wrong path. Spending, deficits, and debt…Justin Bogie -
- News
House Conservatives Say New Trouble Brews Over Old Spending Deal
BALTIMORE—Republicans retreated to the Baltimore Inner Harbor to talk strategy for their 2016 legislative blitz. But when they return to Washington, they’ll have to settle a skirmish in their own ranks. The disagreement revolves around the budget deal negotiated in October by President Obama and then-House Speaker John Boehner. That agreement locks in government spending…Philip Wegmann -
- Opinion
How the ‘Green Revolution’ Has a Backward View on Economic Growth
The Paris climate change conference, which took place last month, was full of exhibitions highlighting new green technology. One of these, called the SolarSoundSystem, involved people pedaling stationary bicycles in order to run generators. While this may seem fun for a while, it provides an important glimpse into the benefits of the affordable, reliable energy…Nicolas Loris -
- Opinion
Budget Cuts Are Hampering Navy’s Role In Fighting ISIS
Last week, in another defense of the current approach to defeat ISIS, President Barack Obama reemphasized that we are “hitting ISIL harder than ever.” The U.S. and its coalition partners have increased the pace of airstrikes- totaling nearly 9,000 since the start of the engagement. In absolute terms we may be hitting them harder, but…Rachel Zissimos -
- Opinion
Here’s a Better Idea Than the Massive Government Spending Bill
The omnibus spending bill soon to come before us is chock-full of controversial policies that never would have passed had they been exposed to the light of day. Not only does this bill spend an additional half-billion dollars on an unreformed and failing Head Start program, and not only does this bill air-drop an entire…Sen. Mike Lee -
- News
House Conservatives Deride Spending Bill for Not Including Conservative Priorities
Conservative House lawmakers aren’t happy about the $1.1 trillion omnibus spending bill released early Wednesday morning. “Sadly, this bill does not adequately address the security issue, nor does it have the common sense, widely-supported pro-life riders that we suggested,” said Rep. Jim Jordan, an Ohio Republican and chairman of the House Freedom Caucus, in a…Philip Wegmann -
- Opinion
What’s Wrong With the Massive Omnibus Spending Bill
Early Wednesday morning, the House Rules Committee posted text for the Consolidated Appropriations Act of the 2016 fiscal year (FY). This $1.1 trillion spending package, known as the omnibus, shows Washington at its worst. Lawmakers are being asked to sign off on 2,200 pages (with an additional 1,000 pages of explanatory materials), at the 11th…Romina Boccia -
- News
Campaign Finance Measure Opposed by Conservatives Kept Out of Spending Deal
Conservatives may be lamenting the absence of measures in the omnibus spending bill addressing Syrian refugees and Planned Parenthood, but the massive legislation notably left out a campaign finance measure opposed by both conservative lawmakers and Democratic groups. Absent from the $1.1 trillion spending is a measure backed by Senate Majority Leader Mitch McConnell, R-Ky.,…Melissa Quinn -
- News
Democrats Are Celebrating These Conservative Policies Not Being in Omnibus Spending Bill
Democrats are claiming they scored significant policy victories in the $1.1 trillion omnibus spending bill. Hours after the mammoth spending bill dropped, Democrats are counting their triumphs, outlining conservative policy riders and priorities that were not included in the final spending bill. A top Democratic Senate aide summed it up in a single tweet. Adam…Philip Wegmann -
- News
Here’s What’s in Congress’ Spending and Tax Package
Congressional leaders announced the details of a $1.1 trillion spending bill to fund the government on Tuesday night. But with spending levels already predetermined, lawmakers were more concerned with what policy provisions were attached to the legislation. The spending legislation will be introduced with a package renewing billions of dollars in tax breaks for businesses and…Josh Siegel -
- Opinion
A Vote for Green Climate Fund in Omnibus Spending Bill Is a Vote for Paris Agreement
What better time than Christmas to spend other people’s money and give presents to the environmental activists? In addition to the other generous handouts renewable companies would receive in the omnibus spending bill, backroom negotiators are also pushing for President Barack Obama’s $3 billion pledge for the Green Climate Fund, a key component of the…Nicolas Loris -
- News
Paul Ryan, Criticizing a Spending ‘Railroad,’ Promises to Put the House on New Track
House Speaker Paul Ryan became the unwilling engineer of the spending locomotive that John Boehner built. But he says the appropriations process established by his predecessor “is no way to run a railroad” and promises sweeping reforms. Before a packed crowd gathered Tuesday for a breakfast event hosted by Politico, Ryan promised that the “number-one”…Philip Wegmann -
- News
House Conservatives Frustrated by Ryan’s Secret Budget Talks With Democrats
More than a trillion taxpayer dollars are on the table as House Speaker Paul Ryan and House Minority Leader Nancy Pelosi negotiate a massive spending deal. But while those talks drag on between Pelosi, D-Calif., and Ryan, R-Wis., many House Republicans say they’re growing frustrated by the secrecy surrounding the process and the lack of…Philip Wegmann -
- News
Freedom Caucus: Top Priority for Spending Bill Is Stricter Screenings of Syrian, Iraqi Refugees
Despite no one believing them, members of the conservative House Freedom Caucus have insisted that their votes could be had on a forthcoming government spending bill even though they believe it spends too much money. The way to their votes, some members claim, is for negotiators to tack on always-contentious policy provisions to the spending…Josh Siegel -
- Opinion
Why Isn’t There More Talk About Out-of-Control Spending With the Government Funding Deadline So Close?
With a Dec. 11 government funding lapse looming, lawmakers have every opportunity to rein in reckless spending increases (and they should). But few are taking a stance to protect taxpayers from higher spending. This is puzzling because the Obama-Boehner budget deal (Bipartisan Budget Act, or BBA), which was signed into law on Nov. 2, established…Romina Boccia -
- Opinion
Here Are Some Budget ‘Life Hacks’ the Government Should Use
The holiday season is fast upon us—that time of year when Americans across the country gather ’round the warm glow of their computer screens and try to figure out how on earth they are going to balance their budgets. Political debates can seem a long way away when you’re in a room alone with your…Salim Furth -
- News
What Conservatives Want to See Included in the $1.1-Trillion Spending Bill
In order for House GOP leadership to earn conservatives’ support on the omnibus spending bill, conservative lawmakers are pushing for several policy riders to be included in the package, with their first priority centered on strengthening the system that allows Syrian refugees to resettle in the United States. At the monthly Capitol Hill event Conversations with…Melissa Quinn -
- Opinion
We Can’t Afford the Latest Budget Deal
On November 2, President Barack Obama signed the Bipartisan Budget Act (BBA), which passed Congress with 233 Democrats and 97 Republicans voting in its favor. Enactment of the BBA was a historic event. For the first time in modern history, Congress granted a president unlimited borrowing authority for nearly an entire term in office. The…Paul Winfree -
- News
Poll: Most Americans Dissatisfied With Budget Deal That Allows More Spending
The majority of Americans dislike the budget deal Congress passed in October, according to a poll from the Economist Group and YouGov. Sixty-one percent of those polled—Democrats, Republicans, and independents—said they are dissatisfied with the bipartisan budget deal and believe that “lawmakers should have stuck to lower spending levels.” The remaining 39 percent agreed that the deal “is…Joshua Gill -
- Opinion
Get Ready for Two Big Budget Showdowns in Congress
It hasn’t gotten much attention, but two big budget showdowns are looming in Washington in the weeks ahead. The first is what to do about raising the $18-trillion debt ceiling. And the second is whether to retain the spending caps/sequester cuts in the 2016 budget. Treasury Secretary Jack Lew announced last week that Congress will bump up against the…Stephen Moore