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
Our Fake Spending Debates
This week, Speaker of the House Kevin McCarthy, R-Calif., and President Joe Biden cut a deal to raise the debt limit. The breakthrough came after three months of Biden pledging not to even negotiate over the debt limit. Instead, Biden was forced to concede to a 1% cap on increases for non-military spending, a cutback…Ben Shapiro -
- News
2 of 46 Democrats Who Voted Against Debt Ceiling Bill Explain Why
The House voted Wednesday evening to lift the nation’s debt ceiling and begin to curb government spending with the votes of both Democrats and Republicans. The vote to pass the debt ceiling bill was 314-117, with some of the House’s most conservative Republicans opposing it as not going far enough to establish fiscal discipline. A…Samantha Aschieris -
- News
These Are the 71 Republicans Who Voted Against Debt Ceiling Bill
The House voted Wednesday evening to lift the nation’s debt ceiling and begin to curb government spending, despite resistance from conservatives following weeks of negotiations between Republicans and Democrats. The vote to pass the debt ceiling bill was 314-117, with some of the House’s most conservative Republicans opposing it as not going far enough to…Samantha Aschieris -
- Opinion
4 Things to Know About Debt Limit Debate
As Congress debates a deal to increase the debt limit, here are four things Americans should know: 1. Immediate spending reduction in Biden-McCarthy deal is infinitesimal; long-term reductions are small and uncertain. Faced with a $1.571 trillion deficit next year, and $20.3 trillion in deficits over the next 10 years, the deal brokered by President…Rachel Greszler -
- Opinion
The American-Swiss Partnership: Shared Values, Strong Ties on Economic and Strategic Issues
The United States and Switzerland have long been described as “Sister Republics”—a term that symbolizes their deep and abiding partnership. Sharing common democratic values, the rule of law, free-market ideas, and even similar constitutions, the two nations have a proven record of a dynamic partnership on many critical issues. This Alpine country, despite its small…Anthony B. Kim -
- Opinion
We Traded a Debt Crisis for an Inflation Crisis, and Now We Have Both
In response to the Great Recession of 2007, politicians resorted to their favorite pastime: recklessly spending other people’s money. Instead of dealing with the real issue—runaway government spending and power—we quietly traded the specter of a debt crisis for the slow burn of an inflation crisis. Today, however, we have both. Instead of casting the…Richard Stern -
- Opinion
The Debt Disaster
President Joe Biden and House Speaker Kevin McCarthy, R-Calif.—both of whom are career politicians—made a deal this week. They agreed to let the federal debt increase without any limit whatsoever until Jan. 1, 2025. For career politicians that date has special significance: It is after the 2024 elections, but before whomever wins those elections takes…Terence Jeffrey -
- Opinion
Liberal Media Predictably Fault Only GOP for Debt Limit Debacle
Democrats and Republicans reached an agreement to lift the debt ceiling, and nothing is going to change in the disturbing pattern of America’s national debt climbing by leaps and bounds. The best reason for pessimism? Our Democrat-messaging media. They can’t be bothered to offer the most basic facts in budget coverage. What is the budget…Tim Graham -
- Opinion
What’s Wrong and What’s Right With Debt Ceiling Deal
President Joe Biden and Speaker Kevin McCarthy, R-Calif., announced a debt limit deal Saturday, with a vote expected Wednesday in the House of Representatives. Heritage Foundation experts scrutinized the text of the 99-page bill, including provisions related to spending, pro-growth policies, student loan cancellation, and work requirements for welfare. The following is their latest analysis…Richard Stern -
- Opinion
Work Requirements in Welfare Programs Take a Hit in Debt Ceiling Deal
As Congress considers the debt ceiling deal negotiated by President Joe Biden and House Speaker Kevin McCarthy, here’s what you need to know about the work requirements in it. Temporary Assistance for Needy Families The Temporary Assistance for Needy Families provisions are harmful and counterproductive. They actually weaken the existing work requirements, overturn the design of…Robert Rector -
- Opinion
Debt Ceiling Deal Misses the Mark on Student Loan Debt
The current version of the federal debt ceiling deal does a bad job addressing student debt, despite the fact that the Biden administration’s student debt cancellation schemes will cost the taxpayer hundreds of billions of dollars. While the yearslong student loan “pause” will finally end, the biggest schemes are left untouched. The debt ceiling deal…Adam Kissel -
- News
Deal to Lift Debt Ceiling ‘Fails Completely,’ Head of House Conservatives Says
The debt ceiling deal brokered over Memorial Day weekend by President Joe Biden and House Speaker Kevin McCarthy “fails completely,” the chairman of the House’s most conservative caucus says. “We’re here to let you and the American people know that Speaker McCarthy had a mandate from the American people—negotiated with a powerful negotiation position of…Samantha Aschieris -
- News
Majority of Americans Support Spending Cuts If Debt Ceiling Is Raised, Poll Finds
A significant majority of Americans believe that the U.S. debt ceiling should only be raised if it’s paired with spending cuts, a CNN poll released on Tuesday found. Sixty percent of the poll’s 1,227 respondents answered that “Congress should only raise the debt ceiling if it cuts spending at the same time.” Twenty-four percent of…Samantha Aschieris -
- Opinion
Media’s Coverage of Debt Limit Fight Is Intolerably Dishonest
President Joe Biden, writes Politico’s White House Bureau Chief Jonathan Lemire, “has prioritized deal-making throughout the debt ceiling talks. But with GOP obstinate, Biden is changing tactics.” What in the hell is he talking about, you may wonder. Only last month, Lemire’s publication reported that Biden was “happy to meet” with House Speaker Kevin McCarthy,…David Harsanyi -
- News
Group of House Lawmakers Urges McCarthy to Take ‘3 Specific Actions’ in Debt Ceiling Negotiations
Thirty-five Republican House lawmakers sent a letter on Thursday to House Speaker Kevin McCarthy, R-Calif., urging three specific actions regarding the debt ceiling as a deal has yet to be reached. “As a result of your skilled leadership since your consequential election in January, Congressional Republicans have not been so united in decades,” the lawmakers…Samantha Aschieris -
- News
‘I Don’t Know,’ McCarthy Says About Timing of Debt Ceiling Deal
House Speaker Kevin McCarthy says he isn’t certain a deal on the nation’s debt ceiling will be made Thursday as negotiations between Republican and Democrat lawmakers continue. “I don’t know if we’ll have a deal today,” McCarthy, R-Calif., said when asked during an appearance on Fox News Channel about the progress of talks with President…Samantha Aschieris -
- Opinion
Memo to Debt Limit Negotiators: Here Are 5 Wasteful Budget Items Ripe for Cutting
As negotiations over the debt limit continue to dominate headlines in Washington, the central focus of the back-and-forth between Democratic President Joe Biden and House Speaker Kevin McCarthy, R-Calif., is over the appropriations spending level for fiscal year 2024. House Republicans passed the Limit, Save, Grow Act, which would reduce discretionary spending for fiscal year…David Ditch -
- News
Debt Ceiling Negotiations ‘Still Far Apart,’ McCarthy Says
House Speaker Kevin McCarthy, R-Calif., says that “there’s a number of places that we’re still far apart” on the debt ceiling as negotiations continue in the nation’s capital. “I mean, it didn’t seem like it’d be this hard. I remember even talking to the incoming Democratic leader before I was even speaker about ways that…Samantha Aschieris -
- Opinion
Rebutting 7 False Claims in Debt Limit Fight
Following a number of rounds of discussions between House Republican officials and the Biden administration, the two sides still haven’t reached an agreement on increasing the federal debt limit. House Speaker Kevin McCarthy, R-Calif., described a Monday evening conversation at the White House, however, as “productive.” An important factor surrounding the issue is McCarthy’s negotiating…David Ditch -
- News
‘It Is Possible to Get Deal by End of Week,’ McCarthy Says of Debt Limit Talks
President Joe Biden and Vice President Kamala Harris met with congressional leaders at the White House on Tuesday to discuss raising the debt ceiling as the U.S. inches closer to a potential default on the national debt in the coming weeks. “It is possible to get a deal by the end of the week. It’s…Samantha Aschieris