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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Conservatives and Paul Ryan Talk Terms During Ongoing Budget Battle
There wasn’t any arm-twisting or shouting inside a closed-door Republican huddle on Capitol Hill. Instead, House Speaker Paul Ryan brought charts and graphs to plot how he thinks the GOP can move forward if they stomach a budget that increases government spending. A source inside the room tells The Daily Signal that Ryan laid out…Philip Wegmann -
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Q&A: What You Need to Know About Presidential Budget Process
President Barack Obama has released his final budget to Congress, shifting the federal budget process into high gear. Budgeting for the nation is a complicated and iterative process. Here is how the president’s budget fits in to that process: Q: Who writes the president’s budget? A: Starting in the spring of the previous year, the…Mollie McNeill -
- Opinion
January Job Growth Shows New Normal in US Economy
American employers created 151,000 net jobs in January, reflecting an economy that is growing, but below its previous trends. The Bureau of Labor Statistics also reported that participation in the labor force was 62.7 percent, higher than the previous months but lower than the January, 2015, level. The best news was that average hourly wages…Salim Furth -
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Don’t Believe the Defense Budget Hype
Secretary of Defense Ash Carter has given a series of speeches outlining highlights of the 2017 defense budget request. The full budget request won’t be released by the administration until next week, so we don’t have the full picture. But as we see exciting headlines driven by the secretary’s speeches, we should keep a few…Justin Johnson -
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The New Budget Showdown: Conservatives Want to Disavow Boehner Deal
House Speaker Paul Ryan’s call for unity is facing a familiar challenge that tripped up Republican leaders before him: the budget and spending. In October, in his effort to “clear the barn” for Ryan, then-Speaker John Boehner helped negotiate a two-year budget deal with President Barack Obama and Democrats. It raised the 2017 spending level…Josh Siegel -
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It’s Time Congress Passes a Conservative Budget
The 2016 budget season kicked off last week with a particularly bleak forecast. The Congressional Budget Office (CBO) warned that the deficit in 2016 will be $130 billion higher than projected last August. Over the next nine years, deficits will be $1.5 trillion higher. And by the end of the next ten years, an additional…Paul Winfree -
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US Ties Lowest Economic Freedom Score Ever
While nations around the world are working hard to enhance economic freedom, America’s score in the 2016 Index of Economic Freedom continues to slip. With economic freedom diminishing in eight of the past nine years, the U.S. tied its worst score ever in 2016 and remains mired in the ranks of the “mostly free.” It…Tori K. Smith -
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America Mired Below Top 10 in Economic Freedom
America’s economy remains less free than in past years even as the world’s other economies have grown more free overall, according to the 2016 Index of Economic Freedom released Monday by The Heritage Foundation and The Wall Street Journal. The U.S. came in at No. 11 on the list of 178 nations evaluated, edging up from No. 12 in…Kristiana Mork -
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Another State Looks to Drug-Test Welfare Recipients
A bill that would require drug tests for welfare recipients is slated to be introduced by two Republican lawmakers in South Dakota. State Rep. Lynne DiSanto, R-Rapid City, and state Sen. Betty Olson, R-Prairie City, are putting together the bill, which they expected to introduce this week. “The taxpayer-supported welfare system provides assistance to those in need….Leah Jessen -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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