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
CBO Forecasts an Economic Nightmare for All Americans
Months behind schedule and as many Americans look forward to the holiday weekend, the Congressional Budget Office released its new federal budgetary and economic projections. The new CBO numbers portend of a future of bloated government, crushing federal debts, and mounting burdens forced onto American families. The dramatic differences between this update and the CBO’s… -
opinion
Janet Yellen Is Wrong. Protecting Life Could Never Damage the Economy.
Life should never be reduced to economics. Yet, in the wake of the leaked Supreme Court draft opinion that could overturn Roe v. Wade, abortion supporters have resorted to shocking claims that limiting abortions will hurt the economy. During a Senate Banking Committee hearing on May 10, Sen. Bob Menendez, D-N.J., asked Treasury Secretary Janet… -
opinion
Student Loan Bailout Is Handout to Ruling Elite
Democrats are calling for more redistribution of wealth—this time for the benefit of their Ivy League-educated elites. The COVID-19 pandemic and continual government-imposed lockdowns upended our way of life. Many Americans found themselves unemployed or in financial trouble. Now, inflation is eating away at everyone’s wealth, making us all poorer. Large swaths of Americans are… -
opinion
Why Economic Freedom Is More Integral to Foreign Policy Than Ever
In an April 27 speech, “The Return of Geopolitics,” British Foreign Secretary Liz Truss made a compelling case for a reboot in the free world’s approach to tackling global aggressors, particularly in the context of Russia’s invasion of Ukraine. Truss pointed out that we “must be prepared for the long haul.” My vision is a… -
opinion
Biden Administration Extends Freeze on Student Loan Payments… Again
Student loan debt holders are getting another extension on their break from payments, but that doesn’t mean no one’s paying. American taxpayers are picking up the bill, amid news that inflation soared a shocking 8.5% compared to this time last year. The announcement from the U.S. Department of Education states that the pause on student… -
opinion
How High Inflation Imperils Monetary, Economic Freedom
Economic freedom in the United States is on a perilous journey. The U.S. fell five places in The Heritage Foundation’s 2022 Index of Economic Freedom, to 25th-most economically free country in the world from 20th in last year’s rankings. (The Daily Signal is the news outlet of The Heritage Foundation.) The main culprit for the… -
opinion
8 Varieties of Rancid Pork in Latest Spending Bill
The insane spending spree that Congress has gone on since the start of the pandemic is one of the central causes of today’s brutal inflation. While the Biden administration blames the war in Ukraine and “greedy” energy companies, the timing of the inflation spike is more closely linked to unnecessary stimulus bills passed after the… -
opinion
Want to Further Economic Woes? Put in Price Controls
History has a way of repeating itself. Or maybe it’s that people cling to defunct beliefs, stubbornly refusing to learn from experience. Such stubbornness is on display when pundits, legislators, and President Joe Biden blame inflation on corporate “greed.” The fix, they claim, is price controls. But such controls would only bring further economic calamity…. -
opinion
Why US Indo-Pacific Economic Framework Must Include Taiwan
It’s regrettable that Washington is sending ambiguous signals to Taiwan on economic engagement. Taiwan, America’s longtime valued, like-minded, and willing partner, has voiced its strong desire to be a “full member” in the Indo-Pacific Economic Framework of the United States. But at a March 31 hearing, U.S. Trade Representative Katherine Tai declined to say whether… -
opinion
5 Biden Transportation Potholes Making Motorists’ Lives Miserable
Just a few months ago, Washington celebrated the passage of a bloated infrastructure bill. Supporters trotted out tired claims about fixing “crumbling roads and bridges” using gobs of taxpayer money. Yet even if we assume a certain amount of waste, fraud, and abuse due to the problems inherent with federal involvement, Americans might reasonably expect… -
opinion
5 Big Problems With Biden’s Big-Government Budget
President Joe Biden finally released his budget request for fiscal year 2023 on Monday, almost two months late. Unsurprisingly, the Biden budget is bloated with excessive spending, harmful taxes, more regulations, and control over Americans’ lives, along with damaging policy proposals. The budget matters because the power to tax and spend is the key to… -
opinion
The Pandemic Changed How We Work. It’s Time for Labor Laws to Change, Too.
The way we work has always been evolving, but the COVID-19 pandemic accelerated change. Progress that might otherwise have taken over a decade to achieve was crammed into a single year. With the rapid pace of change, it is critical that labor laws keep up with the times. Fortunately, a group of lawmakers have introduced… -
opinion
Don’t Ignore History or Sage Advice When It Comes to Economy
In his State of the Union address, President Joe Biden claimed he would be “the only president to ever cut the deficit by more than $1 trillion in a single year.” While this is technically true, he ignores the fact that the reduction in the deficit will be due to the decreased expenditures associated with… -
opinion
America’s Economic Freedom Tumbles in Decadelong Decline
Last year, America was ranked 20th in The Heritage Foundation’s Index of Economic Freedom. This year, America’s rating in the index fell five places and now stands at No. 25, behind nations such as Ireland, Canada, and Chile. “We’ve been on about a decadelong decline in our economic freedom,” Terry Miller, a visiting fellow for… -
opinion
8 Ways Massive Omnibus Spending Bill Is a Mistake
Facing yet another artificial, self-imposed government funding deadline, congressional leaders released a $1.5 trillion omnibus spending bill with the intent of jamming it through Congress and into law in just a few days with as little transparent and public debate as possible. The 2,700-page omnibus spending bill is presented as a false choice: Either support… -
opinion
Economic Freedom Is Key to Empowering Women With More, Better Opportunities
The Economist summed up the importance of women’s empowerment last September by pointing out, in an article headlined “Societies that treat women badly are poorer and less stable,” that “[o]ppressing women not only hurts women; it also hurts men.” It’s notable that women’s empowerment has progressed significantly in a number of countries. Yet many other… -
opinion
In Memoriam: Daniel Doron, Israel’s Champion of Free Market Ideas
Daniel Doron, the notable Israeli free market thinker and the recipient last year of The Heritage Foundation’s inaugural Steven M. Sass Economic Freedom Award, died Feb. 28 at the age of 92. The annual Economic Freedom Award was established specifically to recognize individuals and organizations that promote free market principles. Indeed, throughout his career of… -
opinion
Why US Policymakers Must Make Economic Freedom Their Top Priority
Sen. Mike Lee joined Heritage Foundation President Kevin Roberts for an important speech and timely discussion about the importance of economic freedom. In the March 1 event at Heritage titled “America Needs Policies for Prosperity More than Ever,” the two policy experts stressed why preserving and advancing economic freedom should always be a top policy… -
opinion
Minimum Wage Mandates Will Fuel Inflation. Workers Need Real Wage Increases Not Erased by Higher Prices.
With inflation at a 40-year high, politicians understandably want to ease the pain. The good news is that federal lawmakers can help by paring back deficit-financed spending and removing government-imposed barriers to work and economic activity. The bad news is that many politicians instead are looking for easy artificial fixes, like temporarily suspending the federal… -
news
Loss of Economic Liberty Tracks With Loss of Other Freedoms, Sen. Mike Lee Says
Sen. Mike Lee says economic freedom in the United States has declined—along with other freedoms—during a COVID-19 pandemic that prompted increased government spending and regulation. “Anytime you see other freedoms infringed, I think economic freedoms are deteriorating at the same time, because of government action,” Lee, R-Utah, said in an interview on the podcast of…