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
Biden’s Pick for FTC Commissioner Called ICE ‘Out-of-Control Domestic Surveillance’
President Joe Biden’s nominee to fill the empty seat on the Federal Trade Commission has a history of opposing immigration authorities’ use of data to enforce the law. Alvaro Bedoya, a Georgetown Law professor and privacy advocate who is scheduled to have his committee nomination hearing Wednesday, is a staunch proponent of limiting the ability of immigration… -
opinion
Why Biden’s Infrastructure Bill Will Likely Only Worsen Supply Chain Crisis
President Joe Biden on Nov. 15 signed his infrastructure bill, a trillion-plus-dollar handout to left-wing special interests masquerading as a solution to the supply chain crisis he created. The administration is touting the bill as a fix, but the truth is, the bill is at best irrelevant, and most likely will make the crisis worse,… -
opinion
Biden’s Truly Reckless Spending Will Likely Be His Undoing
News flash: Prices are going up. They are going up broadly across many products and services. And they are going up quickly. Inflation is here. It’s already bad, and there are many signs that it could get worse. In the wake of this news, President Joe Biden has announced that he’s committed to continuing… -
opinion
California Fraudsters Get Rich Off Unemployment Benefits
California has shelled out at least $20 billion in fraudulent unemployment benefits since the beginning of the pandemic, with 11% of all benefits paid in the Golden State. That is more than the 2021 budgets of Delaware, Maine, and Montana combined. The $20 billion given to criminals who fraudulently collected benefits comes out of the more than $178 billion… -
opinion
Post-Brexit Britain Gains Prosperity via Trade Freedom, but Tax-and-Spend Policies Threaten These Gains
In the months and years before Britain voted to leave the European Union in 2016, Brexit’s enemies based their case overwhelmingly on economic arguments. That is what they have always done. The reason is simple: The political case for the European Union in Britain is not popular, because it means subordinating the elected House of… -
opinion
Biggest Means-Tested Welfare Increase in US History Would Hurt, Not Help, Poor
Democrats are proposing the largest increase in means-tested welfare in U.S. history by far. The latest Democrat tax-and-spend reconciliation bill (also known as the Build Back Better bill), would increase means-tested welfare spending by $756 billion over the next five years. In addition, the Biden administration has used administrative action to increase permanently food stamp… -
opinion
Massive Spending Bill Sends Your Tax Dollars to Corrupt Corporate Media
Editor’s note: Deadline reports, “Under the text of the [Build Back Better] bill released Wednesday, per Punchbowl News, employers would get a credit against employment taxes for local news journalists. It would provide a credit up to $25,000 to defray employment taxes in the first year, and $15,000 in the next four years, for each employee…. -
opinion
9 Examples That Show Why Democrats’ Revised Spending Bill Is Still Awful
House Democrats unveiled an updated version of their social spending package on Oct. 28. Weighing in at 1,684 pages, and with trillions of dollars in taxing and spending, it is one of the largest legislative proposals in history. Progressives like Sen. Bernie Sanders, I-Vt., claim that the bill is a compromise. In reality, it is… -
opinion
Trade Expert Breaks Down Supply Chain Crisis
Editor’s note: Why is the U.S. suddenly in the midst of a supply chain crisis? Heritage Foundation’s Tori Smith, a senior policy analyst who focuses on trade joins Tim Doescher, host of the “Heritage Explains” podcast to discuss. Watch or read an abridged and edited transcript below. Tim Doescher: So welcome. Now let’s cut right… -
opinion
What’s in Third Version of Biden’s Big Government Spending Bill
Nov. 4 Update: What’s in the Third Version of Biden’s Big Government Spending Bill? Congressional Democrats have released a third version of their big government socialist Build Back Better Act. Compared to the previous draft, the newest version adds another 450 pages, resulting in a 2,135-page plan for a reckless tax and spending spree. We… -
opinion
Democrats Ponder Cutting Medicare Advantage to Fund $3.5 Trillion Spending Bill
Politico is reporting that congressional Democrats are pondering major cuts to Medicare Advantage, a system of competing private health plans, to help pay for their massive multitrillion-dollar spending bill. This would be a bad policy. Compared to traditional Medicare, Medicare Advantage provides better benefits, lower costs, and higher quality care. Medicare Advantage is a popular alternative to traditional Medicare. From 2011 to 2020 alone, private plan enrollment grew by 103% compared to overall Medicare growth of 28%. This year, private plans are projected to enroll over 27 million senior and… -
opinion
10 Ways Biden’s ‘Build Back Better’ Bill Would Kill Economic Opportunity
President Joe Biden wants you to view his $3.5 trillion tax-and-spend Christmas wish list as an “investment.” However, the specific details of this 2,465-page manifesto tell a very different story. It’s an old story, one where your interests and hard work are subverted for the benefit of a well-connected few. Politicians often discuss the economy… -
opinion
Democrats Use Accounting Gimmicks to Conceal Spending in Bloated ‘Build Back Better’ Bill
President Joe Biden is twisting arms to get “agreement” this week on hundreds of tax and spending provisions in his multitrillion-dollar social welfare bill while key Democrats seem to be settling on a plan to keep the price tag down. They want to reduce the overall size of the spending bill to “only” $1 trillion… -
opinion
8 Ridiculous ‘Green New Deal’ Programs in Democrats’ Bloated Spending Bill
Both chambers of Congress are focused on a raging debate over whether to pass a 2,465-page, $3.5 trillion tax-and-spend bill. With the legislation almost guaranteed to have no Republican support, different factions of Democrats are locking horns over the bill’s fate. Progressives want to spend recklessly, which is much easier to do when you’re using… -
opinion
Trillion-Dollar Spending Packages Will Hurt Working Families They’re Supposed to Help
There seems to be something for everyone in the massive spending packages working their way through Congress. And with a price tag of $4.6 trillion, or $37,400 per household, offering something for everyone—government-paid family leave, monthly child payments, free community college, union dues write-offs, a $12,500 electric vehicle tax credit, or new bike paths—is easy…. -
opinion
What Is the Root Cause of Our Supply Chain Problems?
Americans across the nation are feeling the effects of an unprecedented supply chain crisis. Prices for everyday essentials like milk and gas have skyrocketed and public officials are warning people to start buying their Christmas gifts now. But what is causing all of these supply chain issues? And how do we get out of this… -
opinion
What’s Inside Democrats’ 2,465-Page $3.5 Trillion Spending Bill?
Democrats’ $3.5 trillion spending package gives the IRS permission, and funding, to snoop on nearly every American’s bank account, Jessica Anderson, executive director of Heritage Action for America, says. The “Biden administration is asking Congress to go … weaponize the IRS to spy on Americans,” Anderson says. The future of the bill is unclear after… -
opinion
Biden’s Inept Economic Policies Indirectly Causing Strikes, Unionizing Efforts
President Joe Biden’s pro-union, anti-business economic policies are not faring well. Economic mismanagement has turned the labor market into mayhem with consequences far worse than what many Americans imagined. Firms are experiencing greater government-imposed regulatory burdens and barriers to employment, potentially leaving them worse off than before the COVID-19 pandemic. Businesses have become helpless in protecting… -
opinion
24/7 Operations Might Not Be Enough to Solve Supply Chain Crisis
The Biden administration announced last Wednesday that the Port of Los Angeles will now operate 24 hours a day. That’s belated good news, but how operations have been going at the neighboring Port of Long Beach, which is also operating around the clock, suggest that this might not be enough to solve California’s supply chain… -
opinion
Biden’s Vaccine Mandates Needlessly Polarize, Impede Private Sector Labor Market
The Biden administration is impeding the private sector through its federal vaccine mandates. The Department of Labor’s Occupational Safety and Health Administration on Tuesday forwarded a vaccine rule to the Office of Management and Budget that requires vaccination of workers at businesses with 100 or more employees. Employees who refuse vaccination would have compulsory weekly…