Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
- Opinion
The Great Train Robbery: Taxpayer Subsidies for Amtrak Should Be Derailed
As the holiday season approaches, families across America are carefully planning how to spend their hard-earned money on travel and purchases. If only our elected officials in Washington were as frugal. Many of them, it seems, are trying to spend as much of your tax money as possible on wasteful handouts and vanity projects. And waste is…David Ditch -
- Opinion
Fake ‘Emergency’ Spending in Washington Winds Up Costing Us All
It’s bad enough that Congress and the White House are making no serious effort to cut spending these days—something we all wind up paying for, whether we realize it or not. But to keep adding to the deficit? That’s worse. In recent weeks, the Biden administration has submitted two supplemental spending requests to Congress. The…David Ditch -
- News
Supreme Court Agrees to Review Federal Ban on Bump Stocks
The Supreme Court agreed Friday to hear a case challenging the federal ban on bump stocks, an accessory that increases a semiautomatic rifle’s rate of fire. The U.S. Court of Appeals for the 5th Circuit struck down the rule earlier this year in Garland v. Cargill. The Supreme Court granted the government’s appeal of the ruling in a brief order….Katelynn Richardson -
- Opinion
The BorderLine: New York’s ‘Right to Shelter’—Why Are Taxpayers Forced to House Unlimited Illegal Aliens?
The BorderLine is a weekly Daily Signal feature examining everything from the unprecedented illegal immigration crisis at the border to immigration’s impact on cities and states throughout the land. We will also shed light on other critical border-related issues like human trafficking, drug smuggling, terrorism, and more. ———————————————————- Faced with a flood of caught-and-released illegal…Simon Hankinson -
- News
EXCLUSIVE: Bill Would Ban Taxpayer Funding for Gender Researchers ‘Who Prey on Children’
FIRST ON THE DAILY SIGNAL: Rep. Josh Brecheen is introducing legislation that would ban gender researchers from receiving taxpayer funding if they lead studies facilitating transgender sex-change attempts for minors. The Oklahoma Republican's legislation follows data that his office obtained from the National Institutes of Health indicating that the NIH is currently providing more than…Mary Margaret Olohan -
- News
California Taxpayers Paying to Fund LGBTQ Group Fighting Parental Notification
Over the summer, when a Southern California school board opposed a new state-determined social studies curriculum that included a bio of slain gay rights activist Harvey Milk, Gov. Gavin Newsom issued a threatening tweet calling out the school board president by name. “This isn’t Texas or Florida. In the Golden State, our kids have the…Susan Crabtree -
- News
Conservative Leaders: ‘Not One American Taxpayer Dollar’ Should Go to Palestinian Entities
More than 60 conservative leaders on Friday urged the complete defunding of U.S. foreign aid to Palestinians through Congress’ appropriations process. In a joint letter to Congress, the leaders stated, “In light of the heinous war against Israel started by Hamas and supported by other Palestinian elements in the region, not one American taxpayer…Lucy Gilbert -
- News
‘It Is Difficult To Overstate The Extent to Which Inflation Is Devastating American Families,’ Economist Says
"Inflation is still increasing at approximately twice the Federal Reserve's target rate, meaning ordinary Americans are getting no relief after 2 1/2 years of runaway prices," the chief executive officer of the Job Creators Network said after a government agency reported that inflation ticked up last month. The U.S. Bureau of Labor Statistics reported Thursday that the consumer…Samantha Aschieris -
- News
Federal Debt Increased by $2.2 Trillion in Fiscal Year 2023
The federal government’s debt increased by $2,238,422,431,416.43 in fiscal year 2023, according to data published by the U.S. Treasury Department. On Sept. 30, 2022, the last day of fiscal year 2022, the federal debt was $30,928,911,613,306.73, according to Treasury Department data. By Sept. 29, 2023, the last business day of fiscal year 2023, it had climbed to…Terence Jeffrey -
- News
Pentagon Has Billions Left Over for Ukraine, but Not to Replenish US Weapons Stocks
The Pentagon still has billions remaining for military assistance to Ukraine after Congress’ stopgap government funding bill omitted any provisions for aid, but concerns remain about the Pentagon’s ability to replenish stockpiles of U.S. weapons, The Wall Street Journal reported, citing Defense Department officials. Officials said they were not sure how much longer the funding…Micaela Burrow -
- Opinion
Government Keeps Lights on as Spending Fight Continues. What Happens Next?
Congress has averted a government shutdown—for now. The continuing resolution passed Saturday keeps government agencies funded at current levels until Nov. 17. The bill passed 335-91 in the House and 88-9 in the Senate. But it’s a short-term fix, and lawmakers remain on a tight deadline to finish passing 12 annual appropriations bills. Republicans continue…Virginia Allen -
- Opinion
Big Government Created This Economic Mess. Why Would We Think It Could Fix It?
It has been no secret that America, Germany, Austria, and Europe in general are currently confronted with major economic problems. All are experiencing inflation and minimal economic growth. Purchasing power is decreasing, and the balances on accounts and savings books of average citizens are dwindling. The problems started long ago and are political in nature….Dr. Barbara Kolm -
- News
Trump’s Economic and Foreign Policies Excite Michigan Crowd: What We Saw at His Detroit Rally
CLINTON TOWNSHIP, Mich.—“It’s one of the best speeches he’s ever given. He just kept listing everything he did for the auto industry. I want that back.” Those were the words of a 22-year tradesman in the automotive industry who spoke to The Daily Signal after Donald Trump’s packed rally here Wednesday night just outside Detroit….Tony Kinnett -
- Opinion
American Sovereignty at Stake in Budget Deal Showdown Over Border Funding
Is the United States still a sovereign country, or not? That question simply can’t be ignored in the congressional budget fight now coming to a head. A short-term budget compromise isn’t going to fix this long-term issue as our border remains a sieve. While Democrats and the legacy media continue to do their best to…Jarrett Stepman -
- Opinion
Time to End the Fed and Its Mismanagement of Our Economy
Every major economic downturn of the last 110 years bears the mark of the Federal Reserve. In fact, as long as the Fed has been around, it has swung the economy between inflation and recession. Yet Americans, surprisingly, have tolerated it. But we shouldn’t expect that to go on forever. We had three central banks before the Fed, and…EJ Antoni -
- Opinion
How Border Crisis Became Focus of Federal Spending Debate and What Elon Musk Has to Do With It
The crisis at the U.S. southern border is now being closely linked to Congress passing annual spending bills. Congress has until Saturday to pass the 12 government spending bills for fiscal year 2024, or a short-term funding bill, in order to avoid a government shutdown, but some Republican lawmakers say they won’t support funding the…Virginia Allen -
- Opinion
How Washington’s $7.5 Trillion Deficit Spending Spree is Bankrupting America
Polls show that Americans are pessimistic about the economy, with inflation as the top concern. That’s understandable, but do they understand where this inflationary surge came from and why Washington’s addiction to government spending threatens the future prosperity of the country? That may sound hyperbolic, but consider the numbers. The sum of new spending authorizations…David Ditch -
- Opinion
With Food Stamps Work Requirement, GOP Budget Takes Important Step
House Republicans released their budget resolution last week, and the proposal takes some important steps to advance reforms in welfare programs. One of the ways it aims to accomplish that is by inserting much-needed work requirements into the Supplemental Nutrition Assistance Program, commonly known as food stamps. Such budget documents typically do not provide…Rachel Sheffield -
- Opinion
House Budget Panel Republicans Deliver Plan to Tackle $33T Debt
The federal government reached an ominous milestone Sept. 15 as the gross national debt exceeded $33 trillion—or more than $57,000 per household. The debt increased by $1.5 trillion in just 15 weeks due to rising spending and declining revenue. That’s understandably concerning, especially at a time of rising interest rates and elevated inflation. Higher interest…David Ditch -
- Opinion
4 Ways Washington’s Spending Spree Caused Inflation With Trillions in Waste, Fraud
Americans are justifiably unhappy with the state of the economy. The inflation figures for August took a turn for the worse—meaning families have now lost $5,100 in purchasing power since President Joe Biden entered the White House. In addition to the burden of inflation, rising interest rates are making home mortgages unaffordable, pushing the American…David Ditch