Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
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… -
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… -
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…. -
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…. -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
news
Heritage Foundation Backs House Deal on Continuing Resolution With Spending Cuts, Border Security
The Heritage Foundation on Monday threw its support behind a spending agreement reached as a compromise among House Republicans. The budget deal was reached between leaders of the conservative House Freedom Caucus and the Republican Main Street Caucus, a group of House members that describe themselves as pragmatic conservatives. “The proposal cuts spending and seeks… -
opinion
What America’s National Debt and Pumpkin Spice Lattes Have in Common
Interest payments on America’s national debt have a troubling connection to the beloved pumpkin spice latte. America’s national debt is fast approaching $33 trillion. The interest alone on that debt is costing the American people about $2 billion a day, according to Heritage Foundation research. (The Daily Signal is the news outlet of The Heritage… -
news
Conservatives, Moderates Reach Spending Deal That Includes Border Provisions
A group of House Republicans has released a draft bill to fund the government after weekend negotiations to avoid a shutdown. The bill, titled the Continuing Appropriations and Border Security Enhancement Act, 2024, was published and introduced in the House by Republican Rep. Byron Donalds of Florida as a compromise between the House Freedom Caucus… -
news
SETTING THE RECORD STRAIGHT: Hispanic Leaders Celebrate Smithsonian Suspending ‘Marxist’ Latino Exhibit
The Smithsonian Institution reportedly has suspended an exhibit intended as a foretaste of the forthcoming National Museum of the American Latino in the nation’s capital. One of the critics whose work inspired the move is calling on Congress to defund the planned museum. The exhibit “¡Presente! A Latino History of the United States” opened at… -
opinion
Sen. Mike Lee Tells How ‘The Firm’ Hijacks Legislative Process to Continue Reckless Spending
Another year, another “government shutdown” fight on Capitol Hill. As of this writing, 12 appropriations bills need to pass by Sept. 30 or the government will “shut down.” This means that some workers will be furloughed and most agencies will close temporarily. We had a similar situation last December and the result was a rather… -
opinion
Federal Spending Bills Must Address Border Crisis, Conservatives Say
If Congressmen are serious about border security, they will use the power of the purse to secure America’s borders, according to Lora Ries. Congress is gearing up for debates over the federal budget and some Republicans say they won’t support any spending bill that gives money to the Department of Homeland Security without action being… -
opinion
A Soda Tax Turns 5
Want a soda? You’ll pay more for one in Philadelphia, because five years ago, local politicians decided to tax it. They’re “protecting” people, they said. The tax would “reduce obesity” and “lower diabetes rates.” But the politicians’ main goal was to bring in more money, which they said would “fund early childhood education” and “help… -
news
‘Crisis of Runaway Prices Is Still Ongoing,’ Job Creators Network President Says of August Inflation Report
"Inflation accelerated significantly again last month, demonstrating the crisis of runaway prices is still ongoing," the president of the Job Creators Network says after a government agency reported that inflation rose last month. The U.S. Bureau of Labor Statistics reported Wednesday that the consumer price index, a key measure of inflation, ticked up 0.6% in August…. -
news
‘American People Are Sick of It’: House Freedom Caucus Vows to Oppose More Reckless Spending
Members of the House Freedom Caucus on Tuesday vowed to oppose another budget continuing resolution without changes, which they said would only promote more irresponsible spending. Rep. Scott Perry, R-Pa., chairman of the House Freedom Caucus, a group comprising conservative Republicans, said the spending binge is driving up inflation. “We are not interested in a…