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
Lawmakers Call for Defunding as Report Reveals Millions of Taxpayer Dollars Spent on Gender Ideology
The federal government spent more than $174 million promoting gender ideology in the past three years, according to a new report. In one example of many, the State Department issued a taxpayer-funded grant to premiere “The Vagina Monologues” in India. Two lawmakers say the waste must end. Rep. Brandon Gill, R-Texas, and Sen. Jim Banks,…Moira Gleason -
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Texas Lawmaker ‘Sneaks’ into University’s Transgender Event, Exposes Programs Funded by Taxpayers
Texas state Rep. Brian Harrison sounded the alarm after he “snuck” into a state-funded transgender conference at the University of Texas at Austin on Monday, according to a string of posts on his X account. “The Texas Government is promoting a radical, liberal agenda … with your tax dollars,” the Republican wrote on X, adding,…R.E. Wermus -
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Kari Lake Vows to Slash US Agency for Global Media Budget
Kari Lake said the Trump administration is putting the United States government on a diet through spending cuts, and that she will contribute by slashing the United States Agency for Global Media budget. Lake, President Donald Trump’s nominee to be director of the Voice of America, is currently serving as special adviser to Voice of…R.E. Wermus -
- Opinion
Supreme Court Should Uphold State’s Rights to No Taxpayer Funding of Abortion Businesses
Next month, the Supreme Court of the United States will hear Medina v. Planned Parenthood South Atlantic, a case challenging South Carolina Gov. Henry McMaster’s 2018 executive order disqualifying abortion businesses from receiving taxpayer dollars. As a homegrown South Carolinian, there is nothing more pervasive to my state’s values, nor diametrically opposed to our health…Macy Petty -
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GOP Leadership on Hill Gets Back to Work on Budget Resolution
Republican congressional leadership has its work cut out for it this week as members return to Washington, working toward a shared budget resolution between the Senate and House of Representatives. Back in February, the House of Representatives succeeded in passing its own budget resolution. In that legislative showdown, Speaker of the House Mike Johnson, R-La.,…George Caldwell -
- Opinion
Why the Push Against Data Centers That Bring Billions to the Virginia Economy?
It was 2001 when I realized the city of Buffalo, where I was living and doing radio at the time, was never going to come back from being a ghost town. That’s because there was this little art house startup tech firm called Microsoft that wanted to build a data center out of the abandoned…Joe Thomas -
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Federal Gov’t Agencies Quietly Went on Giant Spending Sprees for Years, Report Finds
DAILY CALLER NEWS FOUNDATION—A host of federal government agencies have overseen massive spending for years while greatly expanding their workforces, according to an OpenTheBooks report. Annual spending across multiple federal government agencies has exploded over the past several years, often outpacing growth of staff and even inflation rates, according to a report from OpenTheBooks first obtained by the Daily…Ireland Owens -
- Opinion
Why Trump Should Ignore the Stock Market
President Donald Trump’s economic priority shouldn’t be preventing a recession. Stock prices are always a bit of a roller coaster. Over the last month, it’s mostly been a downhill ride. In mid-February, the S&P 500 hit 6,144. It’s now dipped below 5,525. That’s around a 10% drop, which means the market is in correction territory….Victor Joecks -
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Biden’s ‘Inflation Reduction Act’ Will Cost Up to $2 Trillion by 2035, Study Estimates
The Biden-Harris administration’s so-called Inflation Reduction Act will cost up to between $936 billion and $1.97 trillion over the next 10 years, according to a new study from the Cato Institute. Democrats in the House and Senate passed the Inflation Reduction Act in August 2022, said to cost $891 billion at the time, without a single Republican vote. Then-President…Elizabeth Troutman Mitchell -
- Opinion
Tax the Past?
Climate activists have found a new way to force us to pay more for energy. New York and Vermont passed laws that will raise the price of oil, gas, and electricity by taxing the past. New York’s new law demands fossil fuel companies pay $75 billion for carbon emissions dating back to the year 2000….John Stossel -
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With GOP Senate’s Approval of Labor Nominee, Trump’s Cabinet Is Almost Complete
The Senate set a modern-day record for confirming a president’s Cabinet appointments on Tuesday when it voted to confirm former Rep. Lori Chavez-DeRemer, R-Ore., as secretary of labor. The confirmation of Chavez-DeRemer means that all federal government Cabinet departments now have a Trump appointee leading them. The only Cabinet-level official yet to be confirmed by…Jacob Adams -
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NASA Promoted ‘Gender Affirmation’ and Workplace Diversity During DEI Spending Spree, Report Finds
DAILY CALLER NEWS FOUNDATION—The National Aeronautics and Space Administration introduced a sweeping number of new diversity, equity, and inclusion initiatives under the Biden-Harris administration, a report released Wednesday found. NASA enacted various DEI-related efforts over the past four years, including issuing guidelines to its staff on ways to better support any employees going through “gender…Ireland Owens -
- Opinion
How a Black Movement About Freedom Became a Movement About Welfare
The 36 million who watched President Donald Trump’s address to Congress also watched as Congressional Black Caucus member Rep. Al Green shook his cane and shouted at the president. When he refused to desist, Speaker Mike Johnson ordered him removed from the chamber. Two days later, in a bipartisan vote, the House censured Green. The…Star Parker -
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Inspector General Could Probe $6B in Tax Dollars Fueling Immigration Crisis
The government should investigate how $6 billion in tax dollars funded the nongovernmental organizations to move illegal immigrants across the country, Mike Howell, executive director of The Heritage Foundation’s Oversight Project, told a House panel. Congress has a role, and so does the Department of Homeland Security’s Office of Inspector General, Howell told the House…Fred Lucas -
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House OKs Continuing Resolution Funding Government Through End of Fiscal Year
The House voted 217-213 Tuesday to pass the Republicans’ continuing resolution that would avert a partial government shutdown that was set to begin Friday. The bill will now go to the Senate, where its prospects remain uncertain. The GOP-backed CR passed the House along party lines with the exception of Rep. Thomas Massie, R-Ky., who…George Caldwell -
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EXCLUSIVE: As DOGE Targets Spending, 2 State Attorneys General Groups Seek to Protect Foreign Grants
FIRST ON THE DAILY SIGNAL—As the Department of Government Efficiency continues to flag unusual federal government expenditures, state attorneys general are asking the Trump administration to secure funding for their initiatives in Mexico and Costa Rica meant to train foreign prosecutors. Seven state attorneys general from both parties signed a letter insisting the programs are…Fred Lucas -
- Opinion
Forgive Me If I’m Not Sad to See Gender Clinics in India Close Because They’re Finally Losing My Tax Dollars
Did you know that the very first gender clinic—established to pump people full of experimental drugs to make their bodies resemble those of the opposite sex—in India opened thanks to your tax dollars? Meanwhile, “independent media outlets” in Ukraine have been forced to shut down because President Donald Trump froze U.S. foreign aid. Don’t buy…Tyler O’Neil -
- Opinion
Inflation Reduction Act Causes Higher Premiums on Seniors
If there were ever a modern-day equivalent to the Trojan horse, it would be former President Joe Biden’s absurdly named Inflation Reduction Act. As the name suggests, the bill was sold as a measure to reduce inflation. Yet once passed and embedded in the heart of our fiscal system, it revealed itself to be a…Andrew Shirley -
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EXCLUSIVE: Conservative Watchdog Debunks Argument Defunding Planned Parenthood Hurts Taxpayers
Pro-lifers continue to urge the Department of Government Efficiency to defund Planned Parenthood, but they aren't putting all their eggs in Elon Musk's basket. As pro-life groups fight for a provision in the budget reconciliation package to remove federal funding from Planned Parenthood, conservatives warn against allowing pro-abortion misinformation to derail efforts to defund the…Elizabeth Troutman Mitchell -
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The One Way to Improve the Economy Without Raising Inflation or Debt
The Trump administration is doubling down on deregulation: Where the previous Trump administration removed five regulations for every new one, the target is now 10. Our research shows that cutting regulations will increase gross domestic product, expand investment, and cut inflation without raising taxes. We used RegData 5.0, a text-based database that tracks regulatory intensity…Parker Sheppard