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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Taiwan’s Free and Vibrant Economy Is a ‘Democratic Success Story’
Taiwan stands for freedom, transparency, accountability, and other democratic characteristics that clearly differentiate the island nation from China. Taiwan’s commitment to cultivating a free economy and a vibrant civil society through independent democratic institutions has unambiguously made the country a notable example for Asia and the world in terms of how an emerging country can…Anthony B. Kim -
5 Takeaways From Heritage Foundation Index of Economic Freedom
The 2022 Index of Economic Freedom—a cross-country study by The Heritage Foundation measuring the economic governance and entrepreneurial environments of 177 countries—went public Monday. The key message? Economic freedom matters more than ever. Heritage’s annual index has tracked economic freedom around the world since 1995. Nations committed to limited government and free enterprise score the…Anthony B. Kim -
Staunch US Ally Singapore Boasts World’s Freest Economy in Annual Heritage Foundation Rankings
Singapore keeps punching above its weight, demonstrating to the world the concrete benefit of preserving transparency, openness, and efficiency, which are the hallmarks of economic freedom. For the third year in a row since 2020, when Singapore eclipsed Hong Kong, the small but vibrant Asian country has been top-rated in The Heritage Foundation’s annual Index…Anthony B. Kim -
Where Former Soviet Republics Stand Economically, 30 Years After Demise of USSR
On Dec. 25, 1991, the once seemingly invincible Union of Soviet Socialist Republics fell when Mikhail Gorbachev, then-secretary of the Soviet Communist Party, transferred his presidential powers to Boris Yeltsin, the leader of the new Russian Federation. Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, and Russia were on…Johnathan Little -
Left Melts Down as Sen. Joe Manchin Says He Can’t Support Biden’s ‘Mammoth’ Spending Bill
A single Democrat came out against President Joe Biden’s massive, multitrillion-dollar Build Back Better plan and the left is having a collective conniption. Sen. Joe Manchin, D-W.V., said Sunday that he would have to cast a “no” vote for Democrats’ current Build Back Better bill, a version of which already has passed the House. “I…Jarrett Stepman -
Biden’s Spending Plan Makes Americans Even More Dependent on Government
President Joe Biden’s Build Back Better plan aims to build, sure enough. That is, build atop the massive amount of welfare that the federal government doles out. Right now, there are a huge number of Americans simply not working, as most Americans know, given the huge number of “help wanted” signs in front of businesses…Jarrett Stepman -
Biden’s Truly Reckless Spending Will Likely Be His Undoing
News flash: Prices are going up. They are going up broadly across many products and services. And they are going up quickly. Inflation is here. It’s already bad, and there are many signs that it could get worse. In the wake of this news, President Joe Biden has announced that he’s committed to continuing…Neil Patel -
Massive Spending Bill Sends Your Tax Dollars to Corrupt Corporate Media
Editor’s note: Deadline reports, “Under the text of the [Build Back Better] bill released Wednesday, per Punchbowl News, employers would get a credit against employment taxes for local news journalists. It would provide a credit up to $25,000 to defray employment taxes in the first year, and $15,000 in the next four years, for each employee….David Ditch -
9 Examples That Show Why Democrats’ Revised Spending Bill Is Still Awful
House Democrats unveiled an updated version of their social spending package on Oct. 28. Weighing in at 1,684 pages, and with trillions of dollars in taxing and spending, it is one of the largest legislative proposals in history. Progressives like Sen. Bernie Sanders, I-Vt., claim that the bill is a compromise. In reality, it is…David Ditch -
What’s in Third Version of Biden’s Big Government Spending Bill
Nov. 4 Update: What’s in the Third Version of Biden’s Big Government Spending Bill? Congressional Democrats have released a third version of their big government socialist Build Back Better Act. Compared to the previous draft, the newest version adds another 450 pages, resulting in a 2,135-page plan for a reckless tax and spending spree. We…Christian Mysliwiec -
Democrats Ponder Cutting Medicare Advantage to Fund $3.5 Trillion Spending Bill
Politico is reporting that congressional Democrats are pondering major cuts to Medicare Advantage, a system of competing private health plans, to help pay for their massive multitrillion-dollar spending bill. This would be a bad policy. Compared to traditional Medicare, Medicare Advantage provides better benefits, lower costs, and higher quality care. Medicare Advantage is a popular alternative to traditional Medicare. From 2011 to 2020 alone, private plan enrollment grew by 103% compared to overall Medicare growth of 28%. This year, private plans are projected to enroll over 27 million senior and…Robert Moffit -
10 Ways Biden’s ‘Build Back Better’ Bill Would Kill Economic Opportunity
President Joe Biden wants you to view his $3.5 trillion tax-and-spend Christmas wish list as an “investment.” However, the specific details of this 2,465-page manifesto tell a very different story. It’s an old story, one where your interests and hard work are subverted for the benefit of a well-connected few. Politicians often discuss the economy…Richard Stern -
Democrats Use Accounting Gimmicks to Conceal Spending in Bloated ‘Build Back Better’ Bill
President Joe Biden is twisting arms to get “agreement” this week on hundreds of tax and spending provisions in his multitrillion-dollar social welfare bill while key Democrats seem to be settling on a plan to keep the price tag down. They want to reduce the overall size of the spending bill to “only” $1 trillion…Grace-Marie Turner -
8 Ridiculous ‘Green New Deal’ Programs in Democrats’ Bloated Spending Bill
Both chambers of Congress are focused on a raging debate over whether to pass a 2,465-page, $3.5 trillion tax-and-spend bill. With the legislation almost guaranteed to have no Republican support, different factions of Democrats are locking horns over the bill’s fate. Progressives want to spend recklessly, which is much easier to do when you’re using…David Ditch -
Trillion-Dollar Spending Packages Will Hurt Working Families They’re Supposed to Help
There seems to be something for everyone in the massive spending packages working their way through Congress. And with a price tag of $4.6 trillion, or $37,400 per household, offering something for everyone—government-paid family leave, monthly child payments, free community college, union dues write-offs, a $12,500 electric vehicle tax credit, or new bike paths—is easy….Rachel Greszler -
What’s Inside Democrats’ 2,465-Page $3.5 Trillion Spending Bill?
Democrats’ $3.5 trillion spending package gives the IRS permission, and funding, to snoop on nearly every American’s bank account, Jessica Anderson, executive director of Heritage Action for America, says. The “Biden administration is asking Congress to go … weaponize the IRS to spy on Americans,” Anderson says. The future of the bill is unclear after…Virginia Allen -
Biden’s Inept Economic Policies Indirectly Causing Strikes, Unionizing Efforts
President Joe Biden’s pro-union, anti-business economic policies are not faring well. Economic mismanagement has turned the labor market into mayhem with consequences far worse than what many Americans imagined. Firms are experiencing greater government-imposed regulatory burdens and barriers to employment, potentially leaving them worse off than before the COVID-19 pandemic. Businesses have become helpless in protecting…Elizabeth Hanke -
Democrats Erase Women Through Budget ‘Reconciliation’
According to Senate rules, a reconciliation package should be limited to budget questions. But in 2021, $3.5 trillion tax-and-spend bill Democrats are trying to push through via the reconciliation process offers the chance for radical gender activists to slip the language and assumptions of their ideology into federal legislation. For instance, the text on “Maternal…Jay Richards -
More Bad Policies and Government Spending Will Worsen Labor Shortage
The September employment report released on Oct. 8 showed a modest employment gain, with 194,000 new jobs added, and a drop in unemployment from 5.2% in August to 4.8%. What appears to be good news in the report—a 0.4 percentage point drop in the unemployment rate to 4.8%—is not all positive news. The decline is…Rachel Greszler -
Fact Check: Would Biden’s Spending Bill Hike Taxes on Those Making Less Than $400,000?
President Joe Biden repeatedly has promised that his massive tax increases won’t hit people earning less than $400,000. Biden even put his family honor on the line, tweeting, “I give you my word as a Biden: If you make under $400,000 a year, I’ll never raise your taxes one cent.” But now that the official…Matthew Dickerson