Economic Policy News
The Daily Signal provides economic policy news with reporting, analysis, and commentary on markets, growth, and fiscal responsibility.
-
- News
Manchin’s Reward for Backing Democrats’ Spending Bill Easily Could Be Thrown Out
Sen. Joe Manchin, D-W.Va., sponsored Democrats' new spending bill shortly before party leaders promised to expedite permits for crucial energy infrastructure; however, the arrangement easily could fall apart as little protections exist to make permitting reform a reality. President Joe Biden, House Speaker Nancy Pelosi, and Senate Majority Leader Chuck Schumer promised Manchin that they…Jack McEvoy -
- News
CHIPS Act an Example of Misguided Public Policy, Heritage Foundation President Says
The conservative movement at its best focuses on the lives of real Americans, Heritage Foundation President Kevin Roberts said at the recent American Economic Forum in Washington. “We have to get out of the habit of spending so much and expecting modern monetary theory and/or inflation to pay down debt,” Roberts said, adding that the…Gillian Richards -
- Opinion
How CHIPS for America Act Chips Away at America’s Economic Freedom
Congress and the Biden administration are gearing up a bloated Creating Helpful Incentives to Produce Semiconductors for America Act, but the CHIPS for America Act runs the real risk of chipping away at America’s economic freedom and competitiveness, rather than enhancing it. The Senate is scheduled this week to vote on the bill, whose price…Anthony B. Kim -
- Opinion
House Democrats Ride ‘Minibus’ to Inflation, Economic Ruin
Against the backdrop of a contracting economy and falling real incomes, the House majority is trying to increase federal spending over the next decade by $1.7 trillion—imposing a cost burden of future taxes and inflation that would be equivalent to more than $13,000 per household. As a first step, the House’s Democratic majority has decided…Richard Stern -
- Opinion
Increasing ‘Buy American’ Requirements on Defense Spending Is Still Bad Idea
Congress is once again flirting with new “Buy American” legislation for defense programs. But underneath the patriotic cover of this legislation is an unexpected casualty: military readiness and capability. Buy American legislation can be traced back to 1933, when Congress passed the Buy American Act, requiring that government acquisitions be entirely produced in the United…Conner Bolanos -
- Opinion
Stephen Moore on Inflation and America’s Ailing Economy
Everyday Americans are feeling the wallop on their wallets from unchecked inflation. From gas prices to food prices, the country is experiencing unprecedented levels of economic woes. But who is to blame for this disaster? “I think that there are two co-conspirators in this economic crime. And one is the Biden administration, for spending so…Richard M. Reinsch II -
- Opinion
11 Ways Republican Study Committee Budget Is Blueprint to Save America
A budget is more than just the sum of its revenues and outlays. It’s also a reflection of the values held by its drafters. Based on the budget proposed Thursday by the Republican Study Committee, the caucus of conservatives in the House of Representatives, its members value America. Here are 11 ways that the Republican…Richard Stern -
- News
EXCLUSIVE: House Conservatives Float Plan to Balance Budget in 7 Years
House conservatives say they’ve crafted a plan to rein in government spending and balance the federal budget in seven years. The budget proposal from the Republican Study Committee would reduce mandatory spending by $11.86 trillion over 10 years while lowering nondefense discretionary spending by $3.64 trillion. The U.S. government faces a budget deficit of $3.1…Fred Lucas -
- Opinion
Rep. Kevin Hern Presents a GOP Budget to Fix America
As Americans watch their government leaders spend more and more, the average citizen is struggling to pay for food and gas. It seems that the Biden administration is more concerned with placating a base of radical leftists than crafting a federal budget designed to help everyday Americans. To Rep. Kevin Hern, R-Okla., the government needs…Douglas Blair -
- Opinion
New Charts Reveal Harms of Biden’s Budget-Busting Binge
The harmful effects of excessive government spending have become the most pressing issue for Americans due to the worst inflation surge in decades. Washington’s reckless choice to pump trillions of dollars into the economy is the reason we face more inflation than other top economies around the world. Yet, incredibly, Congress is still planning an…David Ditch -
- Opinion
CBO Forecasts an Economic Nightmare for All Americans
Months behind schedule and as many Americans look forward to the holiday weekend, the Congressional Budget Office released its new federal budgetary and economic projections. The new CBO numbers portend of a future of bloated government, crushing federal debts, and mounting burdens forced onto American families. The dramatic differences between this update and the CBO’s…Richard Stern -
- Opinion
Janet Yellen Is Wrong. Protecting Life Could Never Damage the Economy.
Life should never be reduced to economics. Yet, in the wake of the leaked Supreme Court draft opinion that could overturn Roe v. Wade, abortion supporters have resorted to shocking claims that limiting abortions will hurt the economy. During a Senate Banking Committee hearing on May 10, Sen. Bob Menendez, D-N.J., asked Treasury Secretary Janet…Rachel Greszler -
- Opinion
Why Economic Freedom Is More Integral to Foreign Policy Than Ever
In an April 27 speech, “The Return of Geopolitics,” British Foreign Secretary Liz Truss made a compelling case for a reboot in the free world’s approach to tackling global aggressors, particularly in the context of Russia’s invasion of Ukraine. Truss pointed out that we “must be prepared for the long haul.” My vision is a…Anthony B. Kim -
- Opinion
How High Inflation Imperils Monetary, Economic Freedom
Economic freedom in the United States is on a perilous journey. The U.S. fell five places in The Heritage Foundation’s 2022 Index of Economic Freedom, to 25th-most economically free country in the world from 20th in last year’s rankings. (The Daily Signal is the news outlet of The Heritage Foundation.) The main culprit for the…Patrick Tyrrell -
- Opinion
8 Varieties of Rancid Pork in Latest Spending Bill
The insane spending spree that Congress has gone on since the start of the pandemic is one of the central causes of today’s brutal inflation. While the Biden administration blames the war in Ukraine and “greedy” energy companies, the timing of the inflation spike is more closely linked to unnecessary stimulus bills passed after the…David Ditch -
- Opinion
Want to Further Economic Woes? Put in Price Controls
History has a way of repeating itself. Or maybe it’s that people cling to defunct beliefs, stubbornly refusing to learn from experience. Such stubbornness is on display when pundits, legislators, and President Joe Biden blame inflation on corporate “greed.” The fix, they claim, is price controls. But such controls would only bring further economic calamity….Veronique de Rugy -
- Opinion
Why US Indo-Pacific Economic Framework Must Include Taiwan
It’s regrettable that Washington is sending ambiguous signals to Taiwan on economic engagement. Taiwan, America’s longtime valued, like-minded, and willing partner, has voiced its strong desire to be a “full member” in the Indo-Pacific Economic Framework of the United States. But at a March 31 hearing, U.S. Trade Representative Katherine Tai declined to say whether…Anthony B. Kim -
- Opinion
5 Big Problems With Biden’s Big-Government Budget
President Joe Biden finally released his budget request for fiscal year 2023 on Monday, almost two months late. Unsurprisingly, the Biden budget is bloated with excessive spending, harmful taxes, more regulations, and control over Americans’ lives, along with damaging policy proposals. The budget matters because the power to tax and spend is the key to…Matthew Dickerson -
- Opinion
Don’t Ignore History or Sage Advice When It Comes to Economy
In his State of the Union address, President Joe Biden claimed he would be “the only president to ever cut the deficit by more than $1 trillion in a single year.” While this is technically true, he ignores the fact that the reduction in the deficit will be due to the decreased expenditures associated with…Cal Thomas -
- Opinion
America’s Economic Freedom Tumbles in Decadelong Decline
Last year, America was ranked 20th in The Heritage Foundation’s Index of Economic Freedom. This year, America’s rating in the index fell five places and now stands at No. 25, behind nations such as Ireland, Canada, and Chile. “We’ve been on about a decadelong decline in our economic freedom,” Terry Miller, a visiting fellow for…Virginia Allen