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
Harris’ Economic Plan Would Increase Federal Stranglehold on Economy
Vice President Kamala Harris gave a speech last week to accompany the release of her 82-page economic planning document. While her words were intended to evoke optimism, the implications of the plan are troubling for America’s future. To begin with, the plan must be placed in context. The Biden-Harris administration has overseen the federal government… -
opinion
STEALING HOME: Local Governments’ Shocking Property Tax Grabs
Sometimes, politicians steal people’s homes. Really. If homeowners miss property tax payments, even if they never received the bills, some towns grab the whole house and keep the proceeds. All the proceeds. Even if the total is much more than the property tax owed. I reported on this (mal)practice a couple years ago. Since then,… -
opinion
Do You Know Where Your Tax Dollars Go? Now You Can
Open the Books was founded in 2011 on a simple principle: Taxpayers deserve to know where their money is going and how it’s being spent. Americans are paying “property taxes to fund local education, so wouldn’t you like to know where that money is going?” asks Matthew Tyrmand, deputy director at large of the Florida-based… -
opinion
Lawmakers Push New Student Loan ‘Forgiveness’ Proposal, Burdening Taxpayers With Billions
After a pause in student loan repayments during the COVID-19 pandemic, borrowers have started paying again. But if history is any guide, some student loan borrowers will pay next to nothing—and after 10, 20, or 25 years, taxpayers, not borrowers, will be forced to pay the outstanding balances. Now, some members of Congress are trying… -
opinion
BINGO! Harris Presides Over Wars, Inflation, Scandals, Open Borders, and Crime.
On the latest episode of “The Tony Kinnett Cast,” we watch in a mix of amusement and bemusement as Vice President Kamala Harris wins what can only be described as a veritable “BINGO” of bad presidential campaign circumstances just 38 days before the general election: War in the Middle East as the U.S. sits impotent,… -
news
Voters Moving Right on Tax Cuts, Poll Shows
A national survey released weeks before the Nov. 5 presidential election shows most voters know little about the personal impacts of the Tax Cuts and Jobs Act, which is set to expire at the end of 2025. The survey, conducted by Public Opinion Strategies on behalf of Stand Together, shows that 76% of voters, an… -
opinion
Economic Bunk From a Former Cabinet Secretary
Former Labor Secretary Robert B. Reich now makes videos, like I do. In fact, his channel, Inequality Media, is very much like Stossel TV. He also reaches people via social media platforms, gets millions of views and covers economic topics. Reich, who served in President Bill Clinton’s administration, does almost exactly what I do, except… -
opinion
Clinton-Appointed Federal Judge Orders Taxpayer-Funded Transgender Surgery for Indiana Inmate
A federal judge ruled that the Indiana Department of Corrections must pay for an incarcerated baby murderer to turn his penis into an imitation-vagina, on the pretext that the Eighth Amendment of the U.S. Constitution, the one prohibiting cruel and unusual punishment, requires it. In 2001, 19-year-old Jonathan C. Richardson strangled his 11-month-old stepdaughter while her mother,… -
opinion
Bankruptcies Soaring Amid Worrisome Inflationary Economic Pressures
Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge. Small-business bankruptcies are up 61% on the year. It is a cackle-nomics miracle. The data comes from bankruptcy analyst Epiq, which reports that commercial filings for Chapter 11 bankruptcies soared to 4,553 so far this year. Meanwhile, total… -
opinion
It’s Long Past Time to Confront the Exploding National Debt
The median age in the United States in 2023 was 39.1 years, according to the Census Bureau. That means that approximately half the people in this country were born in 1984 or later. What was happening four decades ago when about half America’s current population started coming into the world? In 1984, then-President Ronald Reagan… -
news
BACK TO THE DRAWING BOARD: Speaker Johnson’s Next Move in Spending Fight
It’s back to the drawing board for House Speaker Mike Johnson. On Wednesday, the House failed to pass the continuing resolution spending bill, with the SAVE Act attached, that would have funded the federal government beyond the end of the fiscal year ending Sept. 30 and through March. Wednesday evening’s vote failed 202-220. Three Democrats—Reps…. -
opinion
Stopgap Spending Bill Disproportionately Hampers Military Funding
With less than two weeks until the end of the fiscal year, a long-term continuing resolution is currently the best and most realistic option to constrain out-of-control government spending and avoid another lame-duck omnibus appropriations bill. However, Secretary of Defense Lloyd Austin recently sent a “parade of horribles” letter to Congress outlining the dangers of… -
news
House to Vote on Stopgap Spending Bill With SAVE Act Wednesday
House Speaker Mike Johnson announced Tuesday morning that the House will move forward with a vote on Wednesday on a continuing resolution to fund the government beyond the end of the fiscal year on Sept. 30. The continuing resolution would fund the government for six months and avert the looming government shutdown. Johnson has also… -
opinion
Reckless $15 Billion Budget Shortfalls Risk VA Benefits. These Low-Hanging Fruits Could Prioritize Veterans’ Well-Being.
The men and women who’ve defended our nation should not have the veterans benefits they earned threatened by fiscal mismanagement. That’s why Republican lawmakers introduced a supplemental appropriations bill to provide an additional $2.9 billion to cover shortfalls in the Department of Veterans Affairs’ budget for fiscal year 2024. However, this supplemental spending bill… -
news
Speaker Johnson Pulls Spending Bill Vote Amid GOP Opposition
House Speaker Mike Johnson has deferred the vote on a bill to fund the government through March. The temporary government-funding mechanism, called a continuing resolution, would have included the SAVE Act, an election-integrity measure meant to prevent illegal immigrants from voting in federal elections. Johnson has pulled the bill until next week in hopes of… -
opinion
This Calculator Tells You the Size of Inflation’s Bite Into Your Household Budget
While many economic pundits point to cooling inflation, The Heritage Foundation’s new Personal Inflation Calculator showcases the cumulative effect of inflation on the average American. Since the Biden-Harris administration took office in January 2021, Americans have felt the pain of rising prices. The federal government’s excessive spending and borrowing habits led to record-high inflation…. -
opinion
Why America’s Soaring Debt Is Biggest Threat to US Dollar
The United States’ federal debt has soared to $35.3 trillion. In less than a year, the federal government has increased that debt by $1.9 trillion. That occurred during years of record tax revenues and acceptable economic growth. If the current administration remains in power, the Treasury’s own estimates predict an additional $16 trillion increase in… -
news
These 2 Freedom Caucus Lawmakers Say They Won’t Support Spending Package Without SAVE Act
Reps. Ralph Norman, R-S.C., and Chip Roy, R-Texas, said they will only vote for the continuing resolution to fund the federal government beyond the end of the fiscal year on Sept. 30 if it includes the SAVE Act, which would require proof of citizenship for voting. “It’s not enough to say it’s illegal,” Roy told… -
opinion
Mike Johnson’s Opening Salvo in Upcoming Spending Fight
Former President Donald Trump and Vice President Kamala Harris are running out of time to court voters before Americans go to the polls on Nov. 5. But time is running out on another deadline before Election Day that has the potential to significantly affect the election and beyond. On Sept. 30, the end of fiscal… -
opinion
Congressman Calls on Fellow GOP Lawmakers to Quit Jogging Toward ‘Fiscal Cliff’
The House of Representatives returns next week to Washington, and a budget fight showdown is expected. The fiscal year ends Sept. 30, and Congress is tasked with having the fiscal 2025 budget ready to go by then, but it’s all but guaranteed it won’t be. “What usually happens at this time is, we’ll get to…