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
Biden’s Budget Deficit Victory Lap Is Unearned and Unjustified
President Joe Biden is taking victory laps for last year’s reduced budget deficit. No one would be happier than me to see this number fall in a significant way. But the decline has nothing to do with the president’s policies, and it changes little about the dangers of our fiscal situation. According to monthly reporting… -
opinion
Stephen Moore on Inflation and America’s Ailing Economy
Everyday Americans are feeling the wallop on their wallets from unchecked inflation. From gas prices to food prices, the country is experiencing unprecedented levels of economic woes. But who is to blame for this disaster? “I think that there are two co-conspirators in this economic crime. And one is the Biden administration, for spending so… -
opinion
Student Debt Cancellation ‘Not Fair’ to Taxpayers, Those Who Repaid Loans, Betsy DeVos Says
Roughly 45 million Americans owe a combined total of $1.7 trillion in student loan debt. If that were distributed evenly among the borrowers, each would owe close to $38,000. Over the past two years, the federal government has paused collection of student loan payments because of the COVID-19 pandemic. Now, some Americans contend the government… -
opinion
11 Ways Republican Study Committee Budget Is Blueprint to Save America
A budget is more than just the sum of its revenues and outlays. It’s also a reflection of the values held by its drafters. Based on the budget proposed Thursday by the Republican Study Committee, the caucus of conservatives in the House of Representatives, its members value America. Here are 11 ways that the Republican… -
news
EXCLUSIVE: House Conservatives Float Plan to Balance Budget in 7 Years
House conservatives say they’ve crafted a plan to rein in government spending and balance the federal budget in seven years. The budget proposal from the Republican Study Committee would reduce mandatory spending by $11.86 trillion over 10 years while lowering nondefense discretionary spending by $3.64 trillion. The U.S. government faces a budget deficit of $3.1… -
opinion
Rep. Kevin Hern Presents a GOP Budget to Fix America
As Americans watch their government leaders spend more and more, the average citizen is struggling to pay for food and gas. It seems that the Biden administration is more concerned with placating a base of radical leftists than crafting a federal budget designed to help everyday Americans. To Rep. Kevin Hern, R-Okla., the government needs… -
opinion
New Charts Reveal Harms of Biden’s Budget-Busting Binge
The harmful effects of excessive government spending have become the most pressing issue for Americans due to the worst inflation surge in decades. Washington’s reckless choice to pump trillions of dollars into the economy is the reason we face more inflation than other top economies around the world. Yet, incredibly, Congress is still planning an… -
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…