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
Postal Service Lawsuit Is a Delivery of Pure Politics
The lawsuit filed last week by New York State Attorney General Letitia James against the U.S. Postal Service reads more like a 64-page list of talking points than a serious legal document. But that didn’t stop her colleagues in New Jersey, Hawaii, New York City, and San Francisco from joining the suit, giving a bicoastal…David Ditch -
- Opinion
New Sultan Could Deepen US-Oman Ties, Strengthen Economic Freedom
Under the leadership of new Sultan Haitham bin Tariq, who came to power in January upon the death of his cousin, longtime ruler Sultan Qaboos bin Said, U.S.-Omani relations have embarked on a new chapter. Washington has a unique opportunity to build on the good existing relationship and to reaffirm Oman as a trustworthy partner…Anthony B. Kim -
- Opinion
Expect US Agriculture Exports to China to Increase in Coming Months
Since the signing of the U.S.-China trade deal in January, much media focus has been on China’s agreement to buy over $142 billion worth of U.S. manufactured, energy, and agriculture goods this year. At this point in time, it is likely that China will fall short of its purchase agreement. However, there is ample reason…Riley Walters -
- News
4 Big Moments From the House’s Postal Service Hearing
Postmaster General Louis DeJoy testified Monday before a House committee to address Democrats’ recent theories regarding actions taken by the U.S. Postal Service weeks and months before the November election. Voting by mail, either through absentee ballots or by universal mail-in ballots, is expected to be high this year because of the COVID-19 pandemic. As…Fred Lucas -
- Opinion
As Growing Trade Partner, Vietnam Improves Economic Freedom
This year marks the 25th anniversary of the United States and Vietnam reestablishing diplomatic relations. Over the past 25 years—particularly since Vietnam’s accession to the World Trade Organization in December 2016, when the U.S. granted its former foe permanent normal trade relations status—U.S.-Vietnam economic and trade relations have expanded rapidly. The United States was Vietnam’s…Anthony B. Kim -
- Opinion
What’s Really Going on With the US Postal Service
House Speaker Nancy Pelosi has called lawmakers back early to vote on legislation centered on the U.S. Postal Service. Pelosi and the Democrats asked Postmaster General Louis DeJoy and Postal Service Board of Governors Chairman Robert Duncan to come before the House Oversight and Reform Committee on Aug. 24, fast-tracking a hearing originally set for…Rachel del Guidice -
- Opinion
Fact Check: Debunking 10 Myths About the US Postal Service
In 2020, we’re used to seeing falsehoods and misinformation spreading like wildfire online. Typically, they’re linked to breaking news, hot-button social issues, or scandals. The biggest focal point for online political drama today is an unlikely one; namely, the U.S. Postal Service. Representatives from both parties, conspiracy theorists, and even singer Taylor Swift are weighing…David Ditch -
- Opinion
What’s Problematic About the President’s Extension of Unemployment Benefits
President Donald Trump took action five days ago to provide some coronavirus relief for Americans, saying he wasn’t going to wait for Congress. He signed one executive order and three executive memoranda addressing some of the issues. Policy experts will debate the merits of the actions, but one primary question is whether the president had…Thomas Jipping -
- Opinion
Can Ecuador Continue to Gain Economic Freedom?
Ecuador dramatically rose in rank in the 2020 edition of The Heritage Foundation’s annual Index of Economic Freedom. With an economic freedom score of 51.3 out of 100, it is the freest it has been in a decade. While the country’s economy is still considered mostly unfree, its recent progress is good news for centrist…James M. Roberts -
- Opinion
Restoring Public Health and Preserving Economic Livelihoods Must Go Together
As policymakers continue to respond to the coronavirus pandemic, it is more important than ever to weigh the consequences of their public health decisions on jobs and livelihoods. The adage that “the treatment is worse than the disease” comes to mind when considering the lockdown’s effect on the economy. Take, for example, the findings of…Anthony B. Kim -
- Opinion
Congress Needs to Do No Harm as Unemployment Falls to 10.2%
The U.S. economy added 1.8 million jobs in July and the unemployment rate fell to 10.2%, confounding experts’ predictions for a third month and showing signs of recovery as it slowly reopens after the COVID-19 shutdowns. Although the numbers from the U.S. Bureau of Labor Statistics continue to move in the right direction and more…Timothy Doescher -
- Opinion
Why Trump’s Washing Machine Tariffs Are Cronyism
President Donald Trump on Thursday visited a Whirlpool factory in Clyde, Ohio, to tout the benefits of his trade agenda for American manufacturers. Whirlpool claimed to have been injured by foreign competition in 2017 and got the administration to impose tariffs ranging from 20% to 50% on washing machines—and parts—imported by its competitors the following…Tori K. Smith -
- Opinion
Advancing Free Trade Helps Ensure Economic Empowerment of Women
The new U.S.-Mexico-Canada Agreement can benefit female business owners by reducing the cost of transporting goods and services across borders, participants underscored during a recent forum on “Women’s Global Trade Empowerment” hosted by the Commerce Department. Indeed, more practically utilizing the newly implemented trade pact among the U.S., Mexico, and Canada is a critical basis…Nicole Robinson -
- News
Exclusive: ‘We’re Now Spending Our Grandchildren’s Future,’ RSC Chief Warns
Some 100 House Republicans are warning of a national debt growing “exponentially in perpetuity” and how that represents a financial burden for generations to come. “We’re now spending our grandchildren’s future,” Rep. Mike Johnson, R-La., told The Daily Signal in a phone interview Tuesday, ahead of the planned release on Wednesday of an open letter…Rachel del Guidice -
- Opinion
Expanded Commitment to Economic Freedom Will Strengthen US-Croatia Partnership
Croatia is an increasingly important economic and security partner of the United States in the Balkan region and a focal point of evolving geopolitical issues, including energy independence and infrastructure development. In its bilateral relations fact sheet, the U.S. State Department describes Croatia as “a leading partner in Southeast Europe and a model for its…Anthony B. Kim -
- Opinion
How Economic Freedom Provides the Foundation for Teleworking
Social distancing and shutdown policies related to the coronavirus pandemic have important effects in slowing the spread of the virus. Ensuring that our health system maintains sufficient capacity to respond effectively, those policies might reduce the overall health and economic toll unless a vaccine or effective treatments are subsequently developed. However, those policies also impose…Patrick Tyrrell -
- Opinion
Here’s What China Isn’t Buying as Part of the Phase 1 Trade Deal
There’s a lot of media coverage of what U.S.-made goods China is supposed to be buying as a part of the administration’s trade deal with China (aka the “Phase One” deal). But the deal covers only about two-thirds of U.S. annual exports to China. Last year, the U.S. exported $106 billion worth of goods to…Riley Walters -
- Opinion
House Appropriations ‘Minibus’ Bill Stuffed With Problematic Policies, Overspending
The House is expected to vote later this week on H.R. 7608, a “minibus” bill that covers fiscal year 2021 spending for the departments of Agriculture, Interior, State, Veterans Affairs, and more. That covers four of the 12 spending bills that fund the federal government. The bill’s text—produced on July 16—is a staggering 689 pages…David Ditch -
- Opinion
Spending as If There Is No Tomorrow
I am not in the habit of quoting leftist Noam Chomsky, but this line seems relevant when one considers our growing national debt: “When you trap people in a system of debt, they can’t afford the time to think.” Perhaps now is not the time in the middle of a pandemic, job losses, and threats…Cal Thomas -
- Opinion
Dismantling Student Loan Program Best Path to Fight ‘Leftist Indoctrination’ on Campus
Americans should demand better from their universities. Recent riots and vandalism taking place across the country have caused many to scrutinize what students are being taught in colleges. That scrutiny has even reached the White House. President Donald Trump tweeted out a possible answer July 10 to the growing tensions and illiberal civic education in…Mary Clare Amselem