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
Utah’s Economic Prosperity Illustrates the Importance of Marriage, Family, and Religion
A recently released report says that Utah’s economy ranks No. 1 among all 50 states and attributes this top ranking to the influence of the state’s dominant culture of heterosexual marriage and the strength and stability of its families. Authors Brad Wilcox, Jenet Erickson, and Patrick T. Brown conclude in the Sutherland Institute report that… -
opinion
Are the ‘Rich Men North of Richmond’ Really Allowing Our Taxes to Pay for ‘Bags of Fudge Rounds’?
“If you’re five-foot-three and you’re 300 pounds, taxes ought not to pay for your bags of Fudge Rounds,” opines Oliver Anthony in his No. 1 hit debut country song “Rich Men North of Richmond.” The timing of the song’s release could not have been better: Constituents have undoubtedly raised the issue of how our tax… -
news
‘The Labor Market Is Weakening,’ Head of Job Creators Network Says of August Jobs Report
The U.S. unemployment rate increased in August, reaching the highest number since February 2022, according to a Bureau of Labor Statistics report released Friday. "There’s no question about it now: The labor market is weakening," Alfredo Ortiz, chief executive officer and president of the Job Creators Network, said in a statement. "August marks the third… -
news
The World’s Second-Largest Economy Is Struggling
China‘s economy, the world’s second largest after America’s, is struggling months after the communist regime ended its stringent zero-COVID policy. “China’s economic success was largely down to its size and the speed of its abundant inexpensive labor to produce,” Andrew Hale, senior policy analyst in trade policy at The Heritage Foundation, told The Daily Signal… -
opinion
Mayors Who Cut Police Budgets Get Their Own Security Details
Police departments in Los Angeles, Denver, Milwaukee, and Minneapolis provide expensive security details for mayors and other city officials even as those mayors cut funding and positions in those departments. The Los Angeles Police Department’s more than $1.8 billion budget initially was cut by $150 million in 2020 (a portion of the cut was restored in 2021), eliminating… -
opinion
The Economic Benefits of School Choice
It’s back to school this week for Florida students and many others across the country. The first days and weeks of a new school year are always filled with anticipation, adjustments, transitions, and growth for parents and students. Yet, this school year’s “firsts” for an expanding pool of families also includes the first time that… -
opinion
Do Biden’s Latest Fuel Economy Standards Hurt National Security?
While Americans are paying trillions of dollars for President Joe Biden’s climate change agenda, that agenda is weakening America’s national security, and China is set to profit heavily from this folly. As members of Congress were leaving Washington for the August recess, Biden’s National Highway Transportation Safety Administration quietly published new proposed fuel economy standards… -
news
House Conservatives Say Any Spending Bill Must Address Border Security, DOJ Weaponization
The House Freedom Caucus, a group of conservative lawmakers in the House, outlined Monday what conditions would need to be met for it to vote for a new spending bill. The group said spending bills should include provisions on border security, the “unprecedented weaponization” of the Justice Department and the FBI, and the Pentagon’s “cancerous… -
opinion
Leftists’ Wealth Tax Proposal Means Poorer Standard of Living for All
A group of far-left lawmakers has introduced yet another bill to soak the rich. The new bill is called the Oppose Limitless Inequality Growth and Reverse Community Harms Act—the OLIGARCH Act. Get it? It would introduce an entirely new tax on wealth above $120 million, starting at 2% and climbing to 8%. This new tax… -
opinion
California Transportation Policy Is Not for the Free
MIDLAND, Texas—Here in Texas oil country, your Uber is more likely to be a pickup than a Prius. Daniel, who works in the oil pipeline business when he’s not driving for Uber, picked me up from Midland International Air & Space Port in his Chevy Silverado. Born in Midland Memorial Hospital and raised in Midland,… -
news
‘Very Little Keeping Down Prices Going Forward,’ Economist Says After Inflation Report Released
An economist says "[a]s long as the Treasury continues borrowing trillions of dollars, we'll continue to see elevated inflation" after the U.S. Bureau of Labor Statistics reported on Thursday that inflation was 0.2% in July with a year-over-year rate of 3.2% "Inflation has not been trending towards 3%, but 2%. Now that we've arrived there, there's no indication we're… -
news
Congressman Threatens to Cut DHS and DOJ Funding Ahead of Spending Fight
Texas Congressman Chip Roy says he will not approve funding for the Department of Homeland Security or Justice Department unless “changes” are made. “And I can tell you right now for all my colleagues, I will not vote for a continuing resolution or any funding for DHS or DOJ if we don’t get changes… -
opinion
Welcome Spending Cuts and Major Missed Opportunities in House Spending Bills
The U.S. House of Representatives left Washington July 27 for its lengthy summer recess having only passed one of 12 spending bills required to fund the government for the upcoming fiscal year beginning Oct. 1. While all 12 bills have welcome reductions, they lack the more substantial cuts necessary to trim the deficit and stop… -
opinion
Government Doesn’t Have Right to ‘Take Whatever It Wants of Your Labors,’ Federal Budget Expert Says
It’s the duty of Congress to use American tax dollars responsibly, Richard Stern says. American taxpayers deserve to know where their money’s going because “the government doesn’t have the moral right to walk up and take whatever it wants of your labors because a bureaucrat thinks they know better than you how to use the… -
opinion
Nation Declines as Government Spending, Inflation Grow; Incomes Fall
Using statistics from the Department of Labor, The Wall Street Journal reports that real hourly wages during the Biden presidency have declined. When Joe Biden took office in January 2021, the average hourly wage adjusted for inflation was $11.39. Now, 29 months later, it stands at $11.03, a 3.16% decline. Stephen Moore of the Committee… -
news
‘REAL WAGE DESTRUCTION’: Small Business Leader Reacts to Latest Inflation Report
An economist says "American families are having to eat the rotten fruit from the tree of government overspending" after the U.S. Bureau of Labor Statistics reported on Wednesday that the consumer price index, a key measure of inflation, rose 0.2% in June. "It's great news for the consumer that inflation has slowed dramatically from 40-year highs,… -
opinion
On July Fourth, Remember Why Economic Liberty Matters for America
I’ve often thought there is something providential about the Declaration of Independence being drafted and promulgated throughout the American Colonies the same year that Adam Smith’s book “The Wealth of Nations” was published. After all, both texts were revolutionary, and both were fundamentally concerned with protecting and promoting liberty. The Declaration of Independence was very… -
opinion
Events and Grievances Besides Taxes Led to Our Revolutionary War
Taxation wasn’t the only reason that America’s 13 colonies declared their independence from Britain, but it was certainly a factor, Hillsdale College’s Bill McClay says. “Americans believed in self-government because they lived self-government,” says McClay, the Victor Davis Hanson Chair in classical history and western civilization at Hillsdale College. The American colonists’ desire to maintain… -
news
National Parks Sponsor Pride Marches, Create LGBTQ ‘Teaching’ Resources With Taxpayer Dollars
Instead of spending time preserving natural history, some federally funded parks are sponsoring Pride month events and teaching LGBTQ history to the public. Earlier this month, Yosemite National Park in California held a weeklong Pride celebration sponsored by Yosemite’s LGBTQ+ Employee Resource Group. The events included a speaker series as well as a Pride march… -
opinion
As National Debt Hits $32 Trillion, 4 Examples of Absurd ‘Only in Washington’ Budget Logic
American families must find ways to pinch pennies every day, especially in the face of massive inflation since the start of the Biden administration. In contrast, the federal government has just reached the shameful milestone of $32 trillion in gross debt, or more than $245,000 for every household in the country. That's the result of…