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
Analysis Ties Surge in Inflation to Increased Spending, Value of Debt
The U.S. government and those of other countries could be using higher inflation to lessen the value of growing public debt resulting from increased spending during the COVID-19 pandemic, according to a new analysis by a Harvard economist working with The Heritage Foundation. The study covers government spending from 2020 through 2022, the high point… -
news
EXCLUSIVE: Biden Admin Adds LGBTQ Strings to Foreign Agriculture Grants
The U.S. Department of Agriculture intends to cultivate the transgender ideology on a global scale using international farm-aid programs. That could mean attaching strings to international grants that the USDA doles out to support the Biden administration’s LGBTQ agenda, which President Joe Biden ordered in a presidential memorandum. The USDA’s Sub-Working Group for the Memorandum… -
opinion
As Debt Skyrockets, House Eyes New Budget Deal With Negligible Cuts
In May 2023, when then-Speaker of the House Kevin McCarthy negotiated a debt limit deal that included spending limits, the gross national debt stood at just under $31.5 trillion. Conservatives in the House were deeply upset about the debt deal, which contained fraudulent gimmicks to get around the announced spending limits. Less than eight months… -
news
Heritage Action Calls for Lawmakers to Oppose Spending Deal
The budget deal reached this past weekend between Republican and Democratic leaders in Congress fails to include real spending cuts or to secure the border, warns Ryan Walker, the executive vice president of Heritage Action for America. “The American people are begging Congress to secure the border and rein in the unprecedented government spending and… -
news
Military Colonel Resigns Post in Protest Against Biden’s Taxpayer-Funded Abortion Policy
A military officer is retiring from service in protest against the Biden administration’s abortion policies. According to Arkansas Gov. Sarah Huckabee Sanders, Col. Dillon R. Patterson voluntarily resigned from his position as the commander of the 188th Wing of the Arkansas Air National Guard on Dec. 18. In a letter Sanders addressed to President Joe Biden and… -
opinion
As Planned Parenthood’s Abortion Market Share Goes Up, So Does Its Taxpayer Funding
To borrow from an old saying, nothing can be certain except for death and taxpayer funding for the abortion industry. At the request of pro-life members of Congress, the Government Accountability Office released the latest round of data detailing how much taxpayer funding goes to Planned Parenthood and other international abortion organizations. From 2019 through… -
news
Pentagon Bill Now Includes Taxpayer Funding for Abortion, Sex Changes
The Heritage Foundation’s grassroots advocacy arm called Thursday for congressional lawmakers to reject the proposed National Defense Authorization Act, which includes funding for abortion and sex changes as well as to promote diversity, equity, and inclusion in the military. “Americans agree that maintaining a strong national defense involves having a mission-driven military that prioritizes restoring strength… -
news
British Think Tank Leader: ‘Good Social Policy Makes for Good Economic Policy’
We as a society need to assert that healthy families build human flourishing in every nation and culture, and we are not being honest with people when we don’t, said the CEO of what has been called the most influential free-market think tank in Britain. “There are some logical steps to what leads to human flourishing, and… -
opinion
Supreme Court Case Has Democrats Salivating at Possibility of Green Light for Wealth Taxes
The Supreme Court heard oral arguments Tuesday in a little case with potentially huge implications. The high court’s eventual decision in Moore v. USA could give a green light to Democrats in Congress and in state legislatures to enact taxes on unrealized gains, what liberals call “wealth taxes.” The Moore case doesn’t involve one of… -
news
Heritage Action President Calls on House Speaker to Prioritize Border Security in Spending Fight
Heritage Action for America President Kevin Roberts called on House Speaker Mike Johnson to prioritize securing the border and reject additional spending for Ukraine without a “plan that defines the end goal in Ukraine,” in a letter released Tuesday. A $106 billion supplemental spending bill proposed by the White House in October includes around $61… -
opinion
Labor Department Employees Not Returning to In-Person Work Raises Red Flags
Long after the COVID-19 pandemic was declared over and the government said federal employees would return to in-person work, government building occupancy data shows that the Department of Labor headquarters had so few employees return that each employee had an average allocation of 1600 square feet of office space. That’s considerably larger than the average… -
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… -
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… -
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…. -
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… -
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… -
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… -
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… -
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… -
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…