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
From Concerning to Terrifying: 7 Horrible Milestones on Horizon for Bloated Federal Budget
A character in Ernest Hemingway’s first novel, “The Sun Also Rises,” explains how he went bankrupt: “Gradually and then suddenly.” Americans who have fallen deep into credit card debt or had to rely on high-interest, payday loans probably can relate. As a borrower’s debt mounts and his credit score is downgraded, creditors demand higher and… -
opinion
Unpacking the Oral Arguments Against Biden’s Student Loan Cancellation
The Supreme Court heard two cases Tuesday challenging the Biden administration’s claim that it could use a law meant to provide relief to first responders and military personnel after 9/11 to cancel $430 billion in student loan debt for over 40 million borrowers. The administration has relied on an emergency-powers law called the HEROES Act,… -
news
A Biden Loss in Student Loan Forgiveness Case Would Be Third Defeat in Supreme Court on Executive Overreach
Litigants preparing for oral arguments in the Supreme Court on Tuesday against the Biden administration’s student loan forgiveness plan anticipate victory, based on past high court decisions batting down the administration’s executive overreach. “This really is reminiscent of what we saw with the [ Centers for Disease Control and Prevention] eviction program, the [Occupational Safety… -
opinion
US Slips to Worst-Ever Score in 2023 Index of Economic Freedom
The Heritage Foundation’s 2023 Index of Economic Freedom, released Monday, offers sobering insights into setbacks to economic freedom across the globe, including, regrettably, here at home. Since its inception in 1995, the index—an annual global study that compares countries’ entrepreneurial policy environments—has measured a nation’s commitment to limited government and free enterprise by evaluating four… -
news
Index of Economic Freedom Reveals ‘How Fragile the World’s Economy Has Become,’ Even as Taiwan Rises
Taiwan's economic freedom ranking has risen to an all-time high, according to The Heritage Foundation's 2023 Index of Economic Freedom released on Monday. The index ranks Taiwan No. 4 with an overall economic freedom score of 80.7 and No. 2 out of the 39 economies in the Asia-Pacific region. The region's average overall economic score… -
news
Biden Labor Rule ‘Plays Politics With Americans’ Retirement Savings,’ GOP Senator Says
A Republican senator says a Biden administration rule “plays politics with Americans’ retirement savings,” even as some Democrats push legislation seeking to codify that same Labor Department rule into law. President Joe Biden’s environmental, social, and governance rule would allow “fiduciaries to select a fund with a lower rate of return if it supports a progressive… -
opinion
Red States Should Lead Way in Reforming Anti-Marriage Welfare Policies
When conservatives lament the many ways in which the U.S. welfare system discourages marriage and family formation, it’s usually large-scale federal welfare programs such as public housing or the Earned Income Tax Credit that come to mind. Most people probably would not think that state-based welfare programs also contribute to anti-marriage bias, but as our… -
opinion
Gore, Kerry Embarrass US at World Economic Forum. Thank God These Globalist Grifters Never Became President.
At the annual World Economic Forum last week, former Vice President Al Gore melted down faster than any glacier he and his fellow eco-alarmists have ever pointed to as supposed evidence of global warming. In a panel discussion on Jan. 18 at the five-day gathering of his fellow globalist elites in Davos, Switzerland, the former vice president… -
opinion
Memo to John Kerry: Advancing Economic Freedom Is True Key to Saving Planet
During his remarks Tuesday at the World Economic Forum meeting in Davos, Switzerland, John Kerry, President Joe Biden’s climate envoy, rather absurdly declared that “it’s so almost extraterrestrial to think about saving the planet.” Indeed, Kerry’s assertion sounds so alien, particularly considering the reality of how China, the world’s top polluter, has avoided paying for… -
opinion
Amid Aviation Crisis, Buttigieg’s Transportation Department Expands Vacation
"Secretary Pete" seems more focused on holiday leave than fixing issues with the Department of Transportation. Things aren’t going to well for Pete Buttigieg on a number of fronts. As the secretary of transportation, he is also in charge of the Federal Aviation Administration. Wednesday morning, the FAA halted all outbound flights throughout the country… -
opinion
Instead of Fighting Tax-Cutting States, Feds Should Follow Their Example
With Congress continuing its nearly three-year-long inflation-driving spending spree and adding several new federal taxes—not to mention 87,000 new IRS agents—it’s easy to miss a fascinating subplot that will help soften the blow in many states. In the face of all the dysfunction in Washington, dozens of states have been busy cutting taxes for individuals… -
opinion
How Expansive Welfare Benefits Can Make Being on Dole More Lucrative Than Working
Kids love Santa. They don’t have to work for the stuff on their Christmas lists. He just gives it to them. In many states, gratuitous welfare benefits have made that childhood fantasy an adult reality. Professor Casey Mulligan of the University of Chicago and I have found that some families can receive the annualized equivalent of… -
news
These 9 House Republicans Vote for Omnibus Spending Bill
The House of Representatives voted 225 to 201 to pass the $1.85 trillion omnibus spending bill on Friday afternoon. This comes a day after the Senate voted 68-29 for the legislation, meaning that the bill will end up on President Joe Biden’s desk for his signature. Nine Republicans voted in favor of the omnibus bill… -
opinion
Omnibus Spending Bill Will Threaten America’s Public Health, on Purpose
Among the glut of pork and woke spending loaded into the lame-duck omnibus spending bill, you’ll find $1.5 billion in taxpayer funding for something called the Advanced Research Projects Agency – Health (ARPA-H). You’ve probably never heard of ARPA-H because it didn’t exist before March of this year. But this obscure agency cannot be ignored because… -
opinion
18 Absurdities of the McConnell-Schumer Omnibus Spending Bill
Congressional leaders have dropped 6,825 pages of text for their “omnibus” spending bill, plus explanatory materials that include a list of at least 4,000 earmarks, on the doorstep of every American family. When announcing the gargantuan spending bill, its authors put “the federal government” before “American families,” and that is exactly what this bill is… -
news
‘This Has Got to Stop’: GOP Lawmakers Slam Democrat-Led Efforts to Pass Massive Spending Bill
Conservative lawmakers are continuing to rally against Democrat-led efforts to pass funding for the government for the fiscal year that began Oct. 1. The omnibus spending package text was released in the early hours of Tuesday morning and is 4,155 pages long. "It's loaded up with earmarks again so it's the classic worst case of… -
opinion
Welfare Programs Based on Race and Gender Identity Demonstrate Where Institutional Wokeness Is Going
What happens in Oakland doesn’t stay in Oakland. In 2021, the California city announced a universal basic income program created specifically for so-called BIPOC, or black, Indigenous, and people of color. It was set to give $500 a month to 600 low-income families for 18 months in partnership with a nonprofit organization. Shortly after it… -
news
‘We Cannot Afford It’: GOP House Leaders Advise Against Omnibus Spending Bill
Republican leadership in the House is barreling ahead with efforts to prevent Democrats from passing a lame-duck omnibus spending bill this year. “We’re 20 days before the new members are being sworn in. We’ve got two members leading appropriations in the Senate who will no longer be here or be able to be held accountable… -
opinion
Securities and Exchange Commission Case Could Take Down Administrative State’s ‘Home Court Advantage’
The Securities and Exchange Commission, the federal agency tasked with enforcing the nation’s securities laws, has been a foundational piece of the administrative state constructed by the Left over the past century. Over the past few years, however, the SEC has come under fire for potential abuses of power, particularly involving its use of administrative… -
opinion
House Can Sue to Block Biden’s Student Loan Bailout
In February, the Supreme Court will hear not one but two cases challenging President Joe Biden’s plan to cancel student loan debt. The most important question remains, however: Will the high court reach the question of whether Biden has the authority to cancel student debt? To most, it seems the court has only two options:…