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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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… -
news
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.,… -
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… -
news
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… -
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…. -
news
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… -
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…. -
news
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… -
news
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… -
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… -
news
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… -
news
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… -
news
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… -
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… -
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… -
news
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… -
opinion
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… -
news
Rubio Slashes Nearly $60 Billion in Wasteful Spending From State, USAID
The Trump administration has saved taxpayers nearly $60 billion since it took office just over a month ago by eliminating programs in the State Department and the U.S. Agency for International Development alone. A senior State Department official told The Daily Signal that “in just a few weeks, [Secretary of State Marco] Rubio has identified… -
opinion
DOGE vs. Economic Disaster
The Department of Government Efficiency is much in the news these days, with many of the stories focusing on federal employee layoffs and their impact on the individuals involved. While no one likes to see people lose their jobs, the mainstream media seems to view the misfortune of others as a way to advance its… -
news
House Republicans Pass Major Budget Hurdle
House Republicans passed a budget resolution on a party-line vote of 217-215 Tuesday night, clearing a major hurdle on the way to funding President Donald Trump’s “Make America Great Again” agenda. Rep. Thomas Massie, R-Ky., was the only Republican to oppose the bill, as he argued that it did not address the national debt. President…