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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- 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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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Venezuela’s Economic Crisis
The effects of 21st-century socialism in Venezuela are horrifying. According to the International Monetary Fund, Venezuela’s economy will shrink by at least 10 percent in the upcoming year. Venezuela is suffering from the fastest inflation rate in the world, with the rate reaching triple digits. Their currency, the bolivar, is practically worthless despite the exchange…Arlecchino Gomez -
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Feeling a Part of the Process, Freedom Caucus Eyes ‘Gut Check’ for Paul Ryan on Spending Bills
After experiencing the first week of Speaker Paul Ryan’s House, conservatives say they feel right at home. A week into Ryan’s tenure, members of the House Freedom Caucus are crediting the speaker for delivering on his promise to open up the legislative process, and delegate authority to rank-and-file members. And though the outcomes of the…Josh Siegel -
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Conservatives Vow to ‘Not Back Down’ in Spending Fight
Looking to protest a budget agreement that increases spending by $80 billion over two years, conservatives may be inclined to advance appropriations bills that include controversial riders, such as a provision to defund Planned Parenthood. “Absolutely conservatives should push hard and not back down,” said Sen. James Lankford, R-Okla., in an interview with The Daily…Josh Siegel -
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The Budget Process ‘Stinks,’ So Let’s Fix It
It can’t be overstated: Our current fiscal track is unsustainable and our ways of repairing it are inadequate. Or in the words of new House Speaker Paul Ryan, R-Wis., “the process stinks.” The Senate Budget Committee held a hearing this week on reforming the budget process and exploring ways to avoid the looming financial crisis….Ben Mordini -
- Opinion
More Spending Adds Up to Underwhelming Math and Reading Scores
New results are in from the test known as the “report card” for the nation’s schools, and they’re not good. The U.S. Department of Education just released data from the 2015 National Assessment of Educational Progress, a nationally representative test measuring student achievement in mathematics and reading. The NAEP, administered every other year in math…Lindsey Burke -
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The US Continues to Slash Its Military Budget. Here’s Why That Matters.
The United States is scaling back its military while nations hostile to American interests continue to grow in strength and aggression, according to The Heritage Foundation’s annual Index of U.S. Military Strength, released Wednesday. The index, rolled out nearly a week after President Barack Obama vetoed the nation’s annual defense bill, found that the military…Natalie Johnson -
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This Is the Worst Budget Deal GOP Has Negotiated Since George H.W. Bush Violated No New Taxes Pledge
Halloween is looking especially scary this year. On Monday, Republican leaders in Congress declared an unconditional fiscal surrender to President Barack Obama and the left, negotiating a dangerous budget deal that eliminates all of the checks on Washington’s spend-and-borrow binge by breaking the budget caps, ending the sequester and raising the debt ceiling by over…Stephen Moore -
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Poll: 61% of Americans Oppose Debt Limit Hike or Want It Tied to Spending Cuts
Speaker John Boehner stepped to the podium this morning to proclaim that he listened to the American people when crafting his budget deal with President Barack Obama. 56% of Americans would shut down the government to achieve spending cuts. “Having listened to our members and listened to the American people, we have a budget agreement,” Boehner…Robert B. Bluey -
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How Conservatives Are Reacting to John Boehner’s Barn-Cleaning Budget Deal
Just days before he leaves Congress, Speaker John Boehner has once again managed to enrage conservatives. This time, it’s a mega-budget deal he struck with President Barack Obama—Boehner’s attempt to “clean the barn” upon his exit. “Based on what I know now, it appears the president got whatever he wanted,” Sen. Jeff Sessions, R-Ala., told…Robert B. Bluey -
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How Marriage, Strong Families Contribute to Economic Growth
Is there a connection between strong families and a thriving economy? A new study, “Strong Families, Prosperous States,” takes a step toward answering the question. “Despite the clear economic gains associated with strong families at the individual level, economists across the ideological spectrum have failed to investigate whether strong families increase economic growth,” co-authors Brad Wilcox,…Rachel Sheffield -
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Jeff Flake Explains Why Republicans Want Entitlement Reform in Debt, Spending Deal
Congress has until November 3 to raise the debt limit so the government can borrow to pay its bills and avoid the risk of defaulting on its obligations. Meanwhile, government funding expires on Dec. 11. Today, multiple media outlets reported that House and Senate leaders are negotiating a two-year budget agreement that would raise the…Josh Siegel