Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
- Opinion
Bill Would End Taxpayer-Funded Union Activities by Federal Employees
“Official time” is an oxymoron that conveniently misleads federal taxpayers. When federal employees are on “official time,” they’re not doing the jobs they were hired for. Instead, they’re released from their official duties and working for their union—all while getting their taxpayer-funded federal employee salaries and benefits. Some lawmakers believe this needs to stop….Rachel Greszler -
- News
Maryland County’s Electric School Bus Program Resulted in Millions of Dollars in ‘Wasteful Spending’
DAILY CALLER NEWS FOUNDATION—An investigation into a Maryland school system’s electric bus initiative found that it resulted in millions of dollars in “wasteful spending” due to issues with the vehicles, according to a report from the county’s Office of the Inspector General (OIG) released in late July. In February 2021, Montgomery County Public Schools (MCPS)…Owen Klinsky -
- Opinion
What RFK Jr. Says About Government Spending and Debt
Robert F. Kennedy Jr. won applause at the Libertarian presidential convention in May by criticizing government lockdowns and deficit spending, and saying America shouldn’t police the world. It made me want to interview him. Earlier this month, I did. Kennedy, an independent candidate for president, says intelligent things about America’s growing debt. “President [Donald] Trump…John Stossel -
- Opinion
Japan’s Population Implosion Is an Economic Time Bomb
Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge. Japan is running out of people. It will get worse—and we’re next. Last week, Japan’s government announced the country lost 861,000 people last year as the country’s fertility rate—the average number of babies a woman is expected to…Peter St. Onge -
- Opinion
4 Charts Provide Crucial Context as America’s Debt Hits $35 Trillion
While America’s attention has been focused on the presidential election, one of the greatest challenges facing the nation has continued to worsen. On Friday, the gross federal debt hit $35 trillion. For perspective, that amounts to about $267,000 for every household in the country. Unfortunately, not only has the debt soared to such an incredibly large number,…David Ditch -
- Opinion
House Spending Bills Bring Conservative Wins, But Face Thorny Path Ahead
While Americans attempt to grapple with the ongoing chaos of the 2024 election, House Republicans have been quietly doing the work of putting together and passing spending bills for the next fiscal year. What the endgame for those bills will be remains an open and important question—one that could last into next year. With the gross national…David Ditch -
- News
Inflation, Immigration, Economy Are Top Concerns of Voters, Poll Finds
CENTER SQUARE—Likely voters across the country continue to be most concerned about inflation, the economy, and illegal immigration. This fresh data comes even as experts say inflation is slowing, indicating that Americans are still feeling the pinch of high prices. The Center Square Voters’ Voice Poll, conducted prior to the July 13 assassination attempt on…Elyse Apel -
- News
‘Usurpation of Parental Rights’: District’s ‘Gender Inclusion’ Training Costs Taxpayers $1.5K
The South Pasadena Unified School District in California paid an organization that wants a “more inclusive world for gender-diverse children and teens” $1,500 for a three-hour workshop on so-called gender inclusion in 2022. The workshop at the Southern California district included training on creating “Gender Support Plans” using Gender Spectrum’s form, which hides a child’s…Elizabeth Troutman Mitchell -
- News
Owner of Home Remodeling Business Tells GOP Delegates About Economic Hardships
The owner of a home remodeling business described the financial stress that the economy has put on Americans, including himself, in remarks Monday night at the Republican National Convention. “During the Trump boom, we were thriving. Under Biden, we are surviving,” declared Benjamin Josephn told a convention hall audience in Milwaukee that included former President…Olivia Pero -
- News
Thousands of Unaccompanied Minors Now Victims of ‘Taxpayer-Funded Child Slavery’
THE WASHINGTON STAND—Data collected between February of 2021 and January of 2024 revealed “464,922 [unaccompanied] children have been encountered by U.S. Customs and Border Protection police nationwide.” Some experts, such as those from the child immigrant aid organization Kids in Need of Defense, have explained this surplus of unaccompanied minors was “expected” and likely due to “U.S. measures implemented…Sarah Holliday -
- News
Poll: Economic Issues Top Voter Concerns in This Swing State
Economic issues dominate the list of top concerns for Pennsylvania voters ahead of the Nov. 5 presidential election, a new poll finds. A quarter of voters in the swing state ranked “inflation/cost of living” as the No. 1 issue facing Pennsylvanians in a survey released Tuesday from the Commonwealth Foundation, a conservative-libertarian think tank in…Hudson Crozier -
- News
Pennsylvania Lawmaker Proposes Tax Fairness for Faith-Based Health Care Sharing
A House Republican has introduced a bill designed to achieve tax fairness for ministries that share health care costs. A member of the House Ways and Means health subcommittee, Rep. Mike Kelly, R-Pa., is the sponsor of the Health Care Sharing Ministry Tax Parity Act, which he introduced last Monday. Kelly’s bill would allow members…Olivia Pero -
- Opinion
Courts Block Biden’s Student Loan Cancellation Plan: A Win for Taxpayers
On Monday, two federal court judges issued nationwide injunctions stopping the Biden administration from illegally canceling hundreds of billions of dollars in student debt. This scheme, the Saving on a Valuable Education, or SAVE, Plan, is the latest lawless loan redistribution attempt to fail in court. Background President Joe Biden finalized SAVE via an administrative…Madison Marino Doan -
- Opinion
Wrecking the American Dream: The Problem With Today’s Economy
Our economic leadership often is discussed by way of dollars, but it’s about much more than that. It’s about the well-being of the American people. The economy has one purpose—to organize our labors to produce the goods and services that households need and desire. After all, the root word of economics refers to the household,…Richard Stern -
- Opinion
How Much Federal Income Tax Do the Rich Pay?
Politicians on the Left portray the rich in America as a bunch of freeloaders who don’t pay their fair share of taxes. These politicians suggest that many of society’s problems could be solved if only the rich would be less greedy and hand over more of their money to the government to spend. There are…Preston Brashers -
- News
Judges Temporarily Block Parts of Biden’s Student Debt Plan
Obama-appointed federal judges blocked parts of the Biden administration’s Saving on a Valuable Education (SAVE) Plan on Monday in response to Republican states’ lawsuits. Judge John A. Ross of Missouri and Judge Daniel Crabtree of Kansas blocked parts of the administration’s SAVE Plan, which was an income-driven repayment program intended to lower monthly costs for borrowers….Jennifer Nuelle -
- Opinion
Supreme Court Narrowly Upholds Tax on Unrealized Gains From Overseas Company Profits
The Supreme Court issued a much-awaited ruling in a tax case, holding that the mandatory repatriation tax passed as part of the 2017 Trump tax cuts did not exceed Congress’ constitutional authority. The court’s holding was narrow, and significant in large part for issues it did not address, leaving open questions related to the constitutionality…Cully Stimson -
- News
EXCLUSIVE: Department of Defense Spending MILLIONS on Lab-Grown ‘Meat’
U.S. troops could be used as “guinea pigs” in a Defense Department-funded lab-grown “meat” initiative, an environmental watchdog group warns. BioMADE, described as a “public-private bio-manufacturing consortium sponsored by the U.S. Department of Defense,” announced an opportunity for alternative-protein producers and labs to qualify for a series of grants ranging from $250,000 to $2 million…Tony Kinnett -
- News
US Economy in Worse Shape Than Economists Thought
The U.S. economy grew less than previously thought in the first quarter of 2024 amid a slowdown in consumer spending, the Bureau of Economic Analysis announced Thursday. Gross domestic product was revised down in the first quarter from 1.6% to 1.3% year-over-year in a sign that the economy is not as strong as initial estimates…Will Kessler -
- News
House Armed Services Panel Touts Removal of Leftist Policies From Defense Spending Bill
Republicans on the House Armed Services Committee are touting provisions to the annual defense spending bill that would remove several left-wing policies and initiatives, according to a memo on the bill’s provisions obtained by the Daily Caller News Foundation. The Armed Services Committee passed on May 22 the draft of the National Defense Authorization Act, an…Jake Smith