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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- Opinion
Education Spending Spree Continues Apace in Omnibus
The omnibus bill was released Tuesday night. Here are some key details about what it does regarding education spending. Maintains historically high levels of federal education spending. At all levels, the spending measure maintains elevated levels of federal spending and intervention in education. Maintains high levels of funding for Head Start. The spending bill increases…Lindsey Burke -
- Opinion
No Excuses for ‘CRomnibus’ Spending Bill
At more than 1,600 pages, Congress’s $1.1 trillion behemoth spending bill funding almost all government agencies through September 2015 has arrived. For those keeping track, Congress had ample time to debate its 12 spending bills and give lawmakers a real opportunity to address out-of-control federal spending. But it was not to be. The “CRomnibus” spending bill…Romina Boccia -
- Opinion
Average Federal Spending Per Household Nearly $30K
Did you know that the National Institutes of Health spent $374,000 to find out if a puppet show would convince preschoolers to eat more vegetables? Or that the Department of Agriculture gave $50,000 to a business that packs and sells alpaca manure? Your tax dollars paid for it–and much more. In 2014, federal spending per…Spencer Woody -
- Opinion
Americans Are Spending 42 Percent More on Health Insurance Than They Did in 2007
Data on consumer spending show that spending on health insurance surged 42 percent from 2007 to 2013, according to analysis by the Wall Street Journal. The rise reflects the increasing cost of health insurance and the Affordable Care Act’s requirement that everyone buy extensive health insurance. Another feature shown by the data is the movement…Salim Furth -
- Opinion
Relief from the Hagel Budgets
Secretary Chuck Hagel served as the head of the Department of Defense (DOD) for a grand total of 21 months and, like those previous to him, was an enabler to President Obama’s misguided foreign policy. As the world continues to deteriorate, the next Secretary of Defense will have to do what previous Secretaries have failed…Diem Salmon -
- Opinion
The Budget Control Act Is Sending America’s Military Back in Time
Three years ago, Congress passed the Budget Control Act (BCA) in an attempt to curb spending and begin reducing the deficit. Sequestration was included in the BCA to motivate lawmakers to agree to additional deficit-reduction measures, including reductions in entitlement spending. Regrettably, the super committee squandered the opportunity to address the key drivers of spending…Greg Andrews -
- Opinion
It’s the Culture, Stupid: Welfare Programs Can’t Solve Economic Gap Created by Marriage Decline
This may be a surprising statement from a bleary-eyed, number-crunching economist, but the best anti-poverty program in America may not be tax cuts, debt reduction or regulatory relief, but rather that old-fashioned institution called marriage. It turns out that poverty rates are very low among intact families and prevalent among homes without a father. Children…Stephen Moore -
- Opinion
Employment Numbers Improving, but Economic Recovery Still Sluggish
The Bureau of Labor Statistic’s October employment report showed solid economic growth, but it also shows why many Americans report unhappiness with the economy. The headline figures contained good news. The household survey reported unemployment falling slightly—0.1 percentage points to 5.8 percent—the lowest rate since July 2008. People dropping out of the labor force did…James Sherk -
- News
This City Is Spending Big Bucks on Artsy Stop Signs
ST. PAUL, Minn. — St. Paul may be predictably progressive, but the powers at City Hall enthusiastically embrace the “1 percent.” The 1 percent, that is, of costs automatically taken off the top of local government construction projects, under a city ordinance mandating taxpayer-funded public art. Form counts as much as function in city infrastructure…Tom Steward -
- Opinion
Tunisians Bravely Embrace Democracy, Calling for Greater Economic Freedom
Holding a free and fair election without violence, Tunisia, the birthplace of the Arab Spring, has defied skeptics once again and continues its bottom-up democratic transition from despotism. On Sunday, October 26, Tunisians peacefully cast critical ballots in their country’s first full parliamentary election under the constitution they adopted early this year. With leading secular party Nidaa Tounes (Tunisia’s Call) surprisingly outperforming the moderate Islamist party Ennahda (Renaissance party), the 217 members voted…Anthony B. Kim -
- Opinion
Top 7 Wackiest Examples of Wasteful Government Spending from Wastebook 2014
Rabbit massages, laughing classes, and watching the grass grow–these are just a few examples of where your tax dollars went this year. During a time when many families have made financial sacrifices to make ends meet, the federal government continues to spend. Washington politicians continue to claim their levels of spending are necessary and that…Spencer Woody -
- Opinion
Economic Liberty and the Constitution
Recently, there has been a renewed interest in the question whether the Constitution protects individual economic activity without undue—some might say any—government regulation or interference. Various scholars have bemoaned the Supreme Court’s disdainful treatment of economic freedoms and its single-minded focus on one or another variation of the concept of ‘privacy’ as a predicate of…Paul J. Larkin -
- Opinion
Want an Economic Boost? Let’s Kill the Death Tax
Death and taxes are two of life’s certainties, but the tax on death itself should certainly be eliminated. A recent analysis by The Heritage Foundation’s Center for Data Analysis found that doing away with the federal death tax would provide a much-needed, long-lasting boost to the nation’s economy. Indeed, it would increase economic growth by…Rachel Greszler -
- Opinion
All About the Money: Why Government Spending and Debt Matter for Millennials
If you’re a millennial who recently returned to your college campus or started your first job, you probably haven’t paid much attention to the trillion-dollar spending measure Congress passed without much fanfare. And why should you have? How does it affect your life? Spending decisions made in Washington can seem abstract and irrelevant for what…Michael Sargent -
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Ridiculous: How the Latest Spending Bill Is Just Congress Shirking Its Job (Again)
This week, a rare bipartisan majority in the House approved a $1.1 trillion stopgap spending measure that will keep the government funded through Dec. 11. The temporary measure, called a continuing resolution, likely will pass in the Senate today. Although the CR likely will be heralded as a successful bipartisan effort that avoided a government…Michael Sargent -
- Opinion
Rhetorical Spin vs. Economic Reality
In his campaign-style speech on Labor Day, President Obama proclaimed that “by almost every measure, the American economy and American workers are better off than when I took office.” In stark contrast, many Americans, particularly likely voters in competitive U.S. House and Senate races, remain frustrated and gloomy about the state of the economy. According…Anthony B. Kim -
- Opinion
Japan’s Lousy Economy Is a Warning for U.S.
Japan is flush with national pride this week, thanks to Kei Nishikori, the tennis phenom who knocked off seemingly indestructible Novak Djokovic to reach the U.S. Open finals and become the first Japanese to reach a grand slam final ever. If only Japan's economy could perform half as well. For also this week, Tokyo announced…Stephen Moore -
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The Five Most Troubling Things in Congress’ New Spending Bill
Yesterday evening, the House of Representatives released its stopgap spending measure which blindly continues the bloated spending in the January omnibus bill that included special-interest handouts, wasteful and unnecessary energy spending, and transportation boondoggles. Instead of debating and voting on the 12 appropriations bills separately as lawmakers are supposed to do, Congress again will rely…Romina Boccia -
- Opinion
CBO Updated Budget Outlook Shows Economy Headed in Wrong Direction
New figures from the Congressional Budget Office (CBO) confirm the ongoing negative economic impact of Obama-era policies such as the Affordable Care Act, the Dodd–Frank Act, controls on energy production and transport, and Keynesian stimulus spending. In an update to its annual Budget and Economic Outlook yesterday, the CBO projects lower gross domestic product (GDP),…Rachel Greszler -
- News
What Embattled Agency Busted Its Travel Budget for Three Years Running?
A beleaguered federal agency has overspent its travel budget by at least $3 million, House investigators determined. The Export-Import Bank allocated $1.3 million for travel this year, but is projected to spend $2.3 million, according to records obtained by The Hill. Last year, the agency budgeted $1.2 million for travel but spent $2.2 million, and in 2012 it budgeted $1.7…Melissa Quinn