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
GOP Lawmakers Introduce Bill Aimed at Protecting Student Loan Borrowers, Taxpayers
Three House Republicans introduced legislation Thursday that they say aims “to streamline and improve” the system for repaying federal student loans and “to protect borrowers and taxpayers.” Reps. Virginia Foxx, R-N.C.; Burgess Owens, R-Utah; and Lisa McClain, R-Mich., introduced a bill called the Federal Assistance to Initiate Repayment Act, or the FAIR Act, in response… -
news
‘Tuition Price Gouging’ to Blame for Student Debt Crisis, Job Creators Network Head Says
The president of the Job Creators Network is voicing his support for a package of legislation introduced by a group of Republican senators to reduce the costs of higher education and student loan debt. “While we wait on the Supreme Court’s ruling on Job Creators Network Foundation’s challenge to the Biden administration’s illegal student loan… -
news
21 Federal Agencies Promote Pride Month With Taxpayer Dollars
While a number of companies have faced public criticism for promoting LGBTQ Pride Month in June, federal organizations promoting “pride” activities have mostly flown under the radar. One of the few times a federal entity came close to being scrutinized occurred when the Navy deleted a pride post on its Instagram account. Even after that… -
news
EXCLUSIVE: Republicans Introduce Pro-Life Budget as 1-Year Anniversary of Roe v. Wade Reversal Approaches
The Republican Study Committee has introduced “the most pro-life congressional budget ever produced, with dozens of policies that support our fight to protect and uphold the sanctity of life,” Rep. Ben Cline, R-Va., told The Daily Signal. The budget’s release on Wednesday comes just 10 days before the one-year anniversary of the Supreme Court decision in… -
opinion
Republicans Have Second Chance to Strengthen Welfare Work Requirements With Farm Bill
The media has given outsized attention to minor modifications to work requirements for welfare recipients in the debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy. Such modifications will have a relatively modest impact despite the fact that Republicans, Democrats, and independents alike overwhelmingly support work requirements. That’s why reform-minded politicians should… -
opinion
Planned Parenthood Taxpayer Funding Up; Abortion and ‘Transgender’ Services High Priorities
Planned Parenthood’s 2021-2022 annual report is out: Taxpayer funding is at an all-time high and abortion remains a key priority. Meanwhile, visits for actual health care—like cancer screening and prevention services and prenatal care—continue to decline. The abortion giant has also been diversifying its portfolio of services, trying to corner the market in so-called transgender… -
news
Sen. Rand Paul Offers ‘Conservative Alternative’ to Cap Spending in Debt Ceiling Bill
Sen. Rand Paul, R-Ky., proposes to cap government spending in an amendment to the House-passed debt ceiling bill that resulted from negotiations between President Joe Biden and House Speaker Kevin McCarthy, R-Calif. “Sixty percent of Americans say Congress should only raise the nation’s debt ceiling if it cuts spending at the same time,” Paul said… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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… -
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…