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
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… -
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,… -
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… -
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…. -
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… -
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… -
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… -
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… -
opinion
No-Bid Contracts Inflate Cost to Massachusetts Taxpayers of Feeding Illegal Aliens
Most hardworking Americans can’t afford to spend $21 to $31 on dinner every day. If they did, they’d likely expect to get steak or lobster for their money. Yet that’s exactly how much the state of Massachusetts is spending to feed homeless migrants, according to WBZ-TV CBS Boston. The state isn’t even getting its money’s worth:… -
news
Majority of Americans Think US Economy Is in Recession and Shrinking, Poll Finds
A majority of Americans believe that the U.S. is currently in a recession, blaming the Biden administration for harsh economic conditions, according to research firm The Harris Poll. Around 56% of people surveyed thought that the U.S. economy was in recession, and 55% thought that the economy was shrinking, according to a poll conducted for The Guardian…. -
news
Inflation Stays Uncomfortably High as Rising Prices Continue to Squeeze Americans
Inflation ticked down slightly year-over-year in April but still remained high as rising prices continue to take a toll on average Americans’ finances, according to the latest Bureau of Labor Statistics release on Tuesday. The consumer price index, a broad measure of the prices of everyday goods, increased 3.4% on an annual basis in April… -
opinion
5 Ways to Help Avoid Going Over the Looming 2025 Tax Cliff
A large tax increase is scheduled to hit almost all taxpayers at the end of next year—that is, unless Congress comes up with, and agrees to, another plan before then. Expect a lot of talk about taxes from politicians over the next year-and-a-half as Washington grapples with the looming tax cliff. Unfortunately, few lawmakers will… -
news
NPR’s CEO Is a No-Show at Hearing Looking Into Bias at Taxpayer-Funded Network
A House subcommittee on Wednesday discussed the increasing left-wing bias at National Public Radio, a taxpayer-funded news and features network. The hearing stemmed from a debate sparked by an online essay a month ago in The Free Press by longtime NPR editor Uri Berliner, who alleged that the network was both extremely biased and had… -
opinion
Europe Must Stop Dragging Its Feet and Oppose Chinese Forced Labor
British parliamentarian William Wilberforce’s legacy rests on his bold public stance against slavery. The legendary 18th- and 19th-century abolitionist stood up before the British people in the House of Commons with a message of piercing moral clarity: Whatever the cost of abolition, there is no excuse for slavery. After several years of impassioned advocacy, Wilberforce… -
opinion
How Federal ‘Science’ Spending Helps Radicalize College Students
Americans are watching as hordes of anti-American and anti-Israel activists have seized public spaces, occupied university buildings, denied access to reporters, and clashed with police and counterprotesters (all while demanding free food). The latest wave of often anti-Western and antisemitic protests is more intense than the initial wave of activity during the fall in part… -
opinion
Taxpayers Are Subsidizing College Extremism
Mohamed Abdou is a pro-Hamas “anarchist interdisciplinary activist-scholar of Indigenous, Black, critical race, and Islamic studies, as well as gender, sexuality, abolition, and decolonization” at Columbia University. Now, I don’t mean to pick on Abdou. It’s just that he happens to teach virtually every trendy pseudo-intellectual identitarian twaddle concocted by modern man. Ultimately, we make… -
news
EXCLUSIVE: Sen. Roger Marshall Prescribes Solutions for Congress’ Budget Woes
FIRST ON THE DAILY SIGNAL—Nearly 40 Republican senators gathered Wednesday afternoon for a frank conversation about Congress’ broken budget process and the rapidly growing national debt. Sen. Roger Marshall, R-Kan., led the conference meeting with his GOP colleagues in hopes of offering solutions to end the cycle of emergency spending requests and massive omnibus legislation…. -
opinion
Unraveling the Damage Done by Our Welfare System
Education, employment, and family formation are “the building blocks for a flourishing life,” says the leader of the Georgia Center for Opportunity. But, unfortunately, America’s welfare system includes penalties for both work and family formation, Randy Hicks says. Although the safety net may not intend to punish work or the family, Hicks says, it does… -
news
New York Poised to Use Taxpayer Dollars to Pay Journalists
New York state lawmakers plan to hand out tens of millions in taxpayer dollars to local media outlets to help pay for journalists’ salaries. The state will dole out $30 million over three years to local media outlets in the form of tax credits, giving publishers the ability to offset up to 50% of the… -
opinion
With NPR’s Left-Wing Bias Again Exposed, Its Taxpayer Subsidies Draw Renewed Scrutiny
It’s been a week since a liberal, 25-year veteran editor for National Public Radio published a damning online essay about the network’s biased, left-wing coverage, and there appears to have been no self-reflection by NPR’s powers that be. Uri Berliner, who authored the essay, was chastised by NPR employees, suspended, and finally submitted his resignation…