Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
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news
US January Budget Deficit Falls to $95 Billion as Revenue Gains Outpace Spending Growth
WASHINGTON, Feb. 11 (Reuters)—The U.S. government posted a $95 billion budget deficit in January, down $34 billion, or 26%, from a year earlier as revenue gains, including customs duties, outpaced growth in outlays, the Treasury Department said on Wednesday. Adjusting for routine calendar shifts in benefit payments due to holidays, weekends, and other factors in… -
news
US Job Growth Surges in January
WASHINGTON, Feb. 11 (Reuters)—U.S. job growth unexpectedly accelerated in January and the unemployment rate fell to 4.3%, signs of labor market stability that could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation. But the largest increase in payrolls in 13 months reported by the Labor Department… -
news
EXCLUSIVE: Senators Ask Education Department to Collaborate on Student Loan Fraud Probe
FIRST ON THE DAILY SIGNAL—In a letter shared with The Daily Signal, Sen. Tommy Tuberville, R-Ala., and Sen. Jon Husted, R-Ohio, unveiled their plans to uncover fraud, waste, and abuse in federal education funding and the Biden-era student loan “bailout agenda.” The senators’ announcement follows their appointment by Sen. Bill Cassidy, R-La., chairman of the… -
news
House Passes Housing Affordability Bill
The House of Representatives on Monday passed the Housing for the 21st Century Act, making changes to federal housing regulations, which proponents say could drive down the cost of homes. The bill, sponsored by Financial Services Committee Chairman French Hill, R-Ark., passed by a 390-9 margin. Eight Republicans and one Democrat voted against it, while… -
opinion
Modern Science Is Smart Public Policy for a Healthy Nation and Economy
The news two weeks ago from the National Institutes of Health could be downplayed as a tidbit of politics by the Trump administration around the anniversary of the 1973 Supreme Court abortion decision. But that would be missing the larger import of the statement by NIH Director Jay Bhattacharya about the agency’s decision to end… -
news
‘NOT ACCEPTABLE’: Trump Admin ‘Clamping Down’ on Foreigners Taking American Jobs
Equal Employment Opportunity Commission Chair Andrea Lucas is seeking to prevent Americans losing their jobs to foreign workers. “Most people understand that you can’t discriminate against a foreign worker, but they don’t understand that American workers could constitute a national origin,” said Lucas, who oversees the federal government’s employment discrimination agency. “It’s one of those… -
news
Billions in Tax Dollars Pay for Empty Federal Buildings
FIRST ON DAILY SIGNAL—Selling off unused or underused federal property could save taxpayers $3 billion in deferred maintenance costs, and more than $100 million in operation costs each year, according to one government report. Sen. Joni Ernst, R-Iowa, chairwoman of the Senate DOGE Caucus, introduced legislation to expedite the sales of these properties. “Why should taxpayers be stuck with billion-dollar bills for bureaucrats… -
opinion
From Capital Markets to Free Enterprise
Institutions sometimes outgrow their names not because they erred, but because they succeeded. The Heritage Foundation’s Capital Markets Initiative has reached that point, prompting its transition to the Free Enterprise Initiative, a change that is candid rather than cosmetic. Our work expanded beyond its original remit, so its label must follow that reality. American prosperity… -
news
‘Substantial Refunds’ Coming to Taxpayers Soon, Senior Treasury Official Says
Taxpayers can expect “substantial refunds” due to tax cuts in President Donald Trump’s “One Big, Beautiful Bill,” Treasury Secretary Counselor Joseph Lavorgna said. The bill’s provisions included no taxes on overtime pay, no taxes on tips, and reduced Social Security taxes. “We think there could be substantial refunds coming,” Lavorgna, counselor to Treasury Secretary Scott… -
opinion
Education Budget Reversal Ignores Decades of Failure
Rep. Rosa DeLauro criticized House Republicans last fall for passing a downsized education budget, accusing them of attempting to “eliminate public education” and “decimate support for children in K-12 schools.” The charge was overdramatized and incorrect. Federal education funding accounts for roughly 10% of total K-12 spending nationwide. Despite decades of increasing federal investment, student… -
opinion
Can President Remove Fed Official for Pre-Office Conduct? Court Weighs In.
Last week, the Supreme Court heard oral arguments in Trump v. Cook. This case came to the court on an expedited basis because in August of last year, President Donald Trump posted on social media a letter addressed to Lisa Cook, telling her, “Pursuant to my authority under Article II of the Constitution of the… -
news
Vance Believes American Economy Is About to Boom, Champions American Worker in Toledo Speech
On Thursday, Vice President JD Vance appeared at Midwest Terminals in Toledo, Ohio, where he touted the successes of the Trump administration. Vance’s speech centered around “the great American comeback” in the wake of the Biden administration. Prosperity Under Trump The vice president believes the American economy is about to boom. “I think that we… -
news
EXCLUSIVE: Linda McMahon Explains Why Department Paused Involuntary Student Loan Collection
FIRST ON THE DAILY SIGNAL—The Department of Education paused involuntary collection of defaulted student loans, but Secretary of Education Linda McMahon told The Daily Signal the process will restart “sooner rather than later.” McMahon said the department delayed the plan to garnish wages from defaulted borrowers in order to create time to make people aware… -
news
Senators Urge Admin to Reinstate Abortion Pill Regulations
The Senate committee overseeing health policy debated abortion pill regulation in a hearing on Wednesday, where some Republicans urged the administration to crack down on easy access to the drug mifepristone. Sen. Bill Cassidy, R-La., who chairs the Senate Committee on Health, Labor, Education and Pensions, criticized a policy instituted under former President Joe Biden… -
news
Congress Erupts Over Fed Chair Investigation
Congress erupted after the Department of Justice announced a criminal investigation into Federal Reserve Chairman Jerome Powell over the $2.5 billion renovation of the Federal Reserve. Part of the investigation involves previous statements made to the Senate Banking Committee in June, in which Powell was accused of misrepresenting facts regarding government spending on the Federal… -
news
Bluey and Bannon Reveal How Congress Can Balance the Budget
President of The Daily Signal Rob Bluey called on Republicans in Congress to massively reduce the national deficit, telling host Steve Bannon during a Tuesday appearance on “War Room,” “Think about how much more progress we can make and the economic juice we can give this White House if we were able to also reduce… -
news
Vance Announces New Plan to Combat Nationwide Welfare Fraud
Vice President JD Vance announced that the Trump administration has created a new assistant attorney general position to crack down on fraud nationwide. The new official will have “nationwide jurisdiction over the issue of fraud,” Vance said at Thursday’s White House press briefing. “Unfortunately, the American people have been defrauded in a very nationwide way,”… -
news
House Republicans Navigate Slim Majority, Affordability Concerns at Retreat
House Republicans enter 2026 with the challenge of securing conservative legislative wins despite narrow margins. On Tuesday, House Republicans formulated a plan for the second year of the 119th Congress in a retreat with President Donald Trump in Washington, D.C. The meeting was overshadowed by the death of 65-year-old Rep. Doug LaMalfa, R-Calif. “Congress is… -
opinion
HOT Tax Would Let Liberals Pay More, Sparing Everyone Else
Former U.S. Sen. Willard Mitt Romney, R-Utah, is neither the first nor the last billionaire to say that he wants to pay higher taxes, ergo, other Americans should suffer tax hikes, too. Romney recently wrote, “It’s time for rich people like me to pay more.” He advocated higher taxes on—among other things—payrolls, real estate, carried… -
news
Republicans Erased Record Number of Biden Regulations in 2025. Here Are the Worst Ones.
DAILY CALLER NEWS FOUNDATION—Congressional Republicans capped off 2025 with one notable accomplishment: overturning a record number of regulations enacted under former President Joe Biden. Republicans undid 22 regulations issued in the final months of Biden’s presidency that restrict fossil fuel production, phase out the sale of gas-powered cars and limit access to credit in the…