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
Treasury Report Exposes How Fentanyl Traffickers Exploit Financial System
The fentanyl trade—which claimed tens of thousands of American lives in 2024 alone—is a multibillion-dollar business supported by sophisticated money laundering schemes, a new report from Treasury Secretary Scott Bessent revealed Wednesday. Bessent released the report amid President Donald Trump’s push to use tariffs as a weapon against foreign nations' reputed abuses of their financial… -
news
Johnson Seeks to Quell Conservatives’ Mutiny Against Budget Plan
Republican leadership in the House has its hands full this week. House Speaker Mike Johnson is trying to get about a dozen fiscally conservative Republicans to sign off on the Senate’s budget plan by the end of the week. President Donald Trump has urged the House to “quickly” pass the plan that the Senate approved on… -
news
As Experts Warn of Possible Recession, Americans Offer Mixed Reaction on State of Economy
As investment bank Goldman Sachs raised the probability of a U.S. recession from 20% to 35% at the beginning of April, Americans’ opinions on the economy continue to be mixed, according to a new poll. RMG Research conducted the national survey of 1,000 registered voters on behalf of the Napolitan Institute to poll Americans’… -
opinion
Tariffs Are a Reason to Cut Taxes and Red Tape
If there’s one thing supporters and opponents of President Donald Trump’s tariffs should agree on, it’s the need to unchain prosperity at home while international trade is in flux. That means renewing the president’s first-term tax cuts, for a start, but it also calls for sweeping regulatory reform—a DOGE-like approach to slice the red tape… -
opinion
Don’t Like Trump’s Plan for the Economy? Let’s Hear Yours
Editor’s note: This is a lightly edited transcript of today’s video from Daily Signal Senior Contributor Victor Davis Hanson. Subscribe to our YouTube channel to see more of his videos. Hello, this is Victor Davis Hanson for The Daily Signal. I’d like to talk about the economy and politics very quickly. Whether you like it or… -
news
As Tariffs Tank Markets, Economy Craves Tax Cuts
More carrots, please. Feeling flogged by sticks, Wall Street greeted President Donald Trump’s “Liberation Day” with a bellowing Bronx cheer. On Wednesday, Trump unveiled 10% across-the-board tariffs on all imports, plus reciprocal taxes tailored to foil foreign tariffs on U.S. goods. Financial markets opened Thursday and swiftly wilted. After China slapped a retaliatory 34% tariff… -
news
‘HANG TOUGH’: Trump Administration Placates Americans as Stock Market Continues to Drop
As the stock market continues to drop, Trump administration officials are assuring Americans that tariffs will save an economy that appears healthy from the outside but is rotting from within. In a Truth Social post Saturday, President Donald Trump urged Americans to “HANG TOUGH.” “HANG TOUGH, it won’t be easy, but the end result will be… -
news
Trump-Backed Budget Resolution Clears Senate Hurdle on Party-Line Vote
Republicans in the Senate succeeded in passing a Trump-endorsed budget resolution on a straight party-line vote of 51 to 48 at about 2:30 a.m. Saturday. Sens. Rand Paul, R-Ky., and Susan Collins, R-Maine, were the only Republicans to vote against it. Sen. Patty Murray, D-Wash., did not vote. The resolution’s passage is an important step in… -
news
Trump Backs Senate’s Budget Plan: ‘One Big Beautiful Bill’
President Donald Trump threw his support to the Senate’s budget plan Wednesday, as he called on Republicans to unify and pass a bill that would ensure that his 2017 tax cuts are extended and funding is provided for border security and other campaign promises. “Speaker of the House Mike Johnson and Senate Majority Leader John… -
news
Up in Smoke? House Conservatives Eye Ban on Marijuana in DC Budget Bill
Conservative members of the House of Representatives are contemplating attempting to ban marijuana in the District of Columbia by amending a funding bill in Congress. The District relies on some federal funding to pay for part of its budget. Members of the conservative House Freedom Caucus are discussing tying the funding to conservative priorities in… -
opinion
I Worked at Planned Parenthood for 15 Years—Here’s Why It Shouldn’t Get Taxpayer Dollars
Do states have the right to refuse to give taxpayer dollars to Planned Parenthood and other abortion facilities within their borders? As someone who worked at Planned Parenthood for more than 15 years and who knows what they do with that money, I can say unequivocally that they should have that right. One of the… -
opinion
Supreme Court Justices Seem Inclined to Uphold Religious Charity’s Claim for State Tax Exemption
The Supreme Court heard arguments Tuesday, on one of its last days of oral arguments for cases from the October 2024 term, in Catholic Charities Bureau v. Wisconsin Labor & Industry Review Commission. The case concerns the constitutionality of Wisconsin’s state unemployment tax exemption as applied to the work of the Catholic Charities Bureau. At… -
opinion
Trump Administration Halts ‘COVID-19’ Education Spending Spree, Sends Savings to Treasury
On Friday, the Trump administration took another step toward reining in wasteful government spending and narrowing Washington’s role in K-12 education. The Department of Education announced that it would be modifying the liquidation period for states to spend remaining COVID-19 “relief” dollars, giving them until close of business on March 28 to obligate any remaining… -
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,… -
news
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,… -
news
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… -
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…