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
Delaying Tariffs Is Not the Answer to China’s Trade Practices
For the past two years, President Donald Trump has argued that China was paying the cost of the trade war. Following a delay in some of the tariffs from the latest round in the dispute with China, however, the president has acknowledged for the first time that tariffs have an impact on American families. “What…Yujin Kim -
- Opinion
Cuccinelli Schools Media on Immigration, Welfare, and Freedom
The left-wing media are having a field day distorting acting U.S. Citizenship and Immigration Services Director Ken Cuccinelli’s comments regarding the famous poem emblazoned on the base of the State of Liberty. Discussing the Trump administration’s new “public charge” rule, an NPR host asked Cuccinelli whether the poem’s words “give me your tired, your poor”…Star Parker -
- News
Labor Department to Reinstate Aide Wrongfully Accused by Media of Anti-Semitism
The Department of Labor reinstated a political appointee Wednesday night who resigned under pressure after a Bloomberg Law reporter accused him of anti-Semitism for a Facebook post in which he was actually condemning anti-Semites in the alt-right, the Daily Caller News Foundation exclusively learned. Acting Secretary Patrick Pizzella “personally made this decision after carefully reviewing…Luke Rosiak -
- Opinion
Labor Policy Is Jobs Policy
Labor Day offers Americans a chance to appreciate the tremendous value of America’s workers and job creators. At the Department of Labor, where I serve, we are proud of the hard work Americans have put in to build today’s historically strong labor market, and of the regulatory reform we’re doing to ensure opportunities continue to…Jonathan Berry -
- Opinion
Trump’s Latest Tariffs Are Putting the Economy on Edge
President Donald Trump announced last week he will add an additional 5% tariff on all Chinese products bought by Americans. This comes on top of an existing 25% tariff on $250 billion worth of products from China, and an additional tax on roughly $160 billion worth of goods is set to start Sept. 1. Given…Riley Walters -
- Opinion
Fellow Lawmakers: Your Minimum Wage Bills Only Hurt Our Country
Democrats initially wanted a $15 federal minimum wage, which recently passed in the House of Representatives. Now, some are calling for $20 per hour. Both policies would backfire on Americans in a major way. The Congressional Budget Office recently estimated that if the $15 minimum wage became law, up to 3.7 million jobs could be…Rep. Andy Biggs -
- Opinion
The Proof Is In: Tariffs Are Hurting the US
The Congressional Budget Office released its updated budget outlook last week, and it confirmed what analysts have said about U.S. trade policy for the last two years: The Trump administration’s tariffs are hurting the U.S. economy. First, let’s review how these tariffs came about. In early 2018, President Donald Trump imposed tariffs on roughly $9…Tori K. Smith -
- News
Trump Won’t Use Hong Kong Protests as ‘Leverage’ in China Trade Talks
President Donald Trump said on Wednesday that Chinese President Xi Jinping has the ability to ensure that chaotic protests in Hong Kong are resolved in a “humane way” and that the situation in the Chinese territory won’t be a factor in ongoing trade talks between the two countries. Tens of thousands of freedom protesters in…Fred Lucas -
- Opinion
The Budget Is at a Crossroads. Which Path Will Congress Take?
Thanks to the latest massive budget deal passed by Congress, our nation’s fiscal situation is deteriorating even more quickly than before. That’s the main takeaway from the Congressional Budget Office’s updated economic projections for fiscal years 2019-2029, released on Wednesday. The latest estimates reiterate that the federal government continues to live beyond its means. The…Justin Bogie -
- Opinion
Each American Is $240,000 in Debt Because of Excessive Government Spending
As Americans, we are greatly indebted not only to the men and women who have fought and died for our country, but also to the thinkers, statesmen, innovators, and ordinary people who gave us our founding principles. This debt is paid back not with money, but with a commitment to the active and vigilant self-government…Benjamin Paris -
- News
Labor Department Rule Broadens Religious Protections in Federal Contracting
The Labor Department on Wednesday announced a new rule to grant the “broadest protection permitted by law” to religious organizations contracting with the federal government. The proposed rule to clarify civil rights protections for religious groups will be added to the Federal Register on Thursday, but is now open to public comment. “Today’s proposed…Fred Lucas -
- Opinion
The Treasury Department Is Wrong. China Didn’t Just Devalue Its Currency.
The U.S. Treasury Department has incorrectly labeled China a manipulator of its currency. An important distinction exists between devaluing a currency and currency depreciation. Devaluing implies the People’s Bank of China actively manipulated the value of the Chinese renminbi to gain unfair advantage for its exports. Depreciation simply means the renminbi has lost purchasing power…Riley Walters -
- Opinion
No, Wages Are Not Rising Because of Minimum Wage Laws
Before lawmakers left for August recess, the Democrat-controlled House voted to raise the federal minimum wage to $15 an hour. Such a move would backfire in a major way if passed into law. It would hurt lower-skilled individuals the most, including teenagers, immigrants, and those without a high school degree. And women, who hold more…Adam Michel -
- News
New Rule Could Deny Green Cards, Visas to Immigrants Who Use Welfare Programs
Federal officials will consider an immigrant’s use of welfare benefits such as food stamps and Medicaid as a negative factor in deciding on the eligibility of the immigrant’s permanent legal residency or on a temporary visa. “It will also help promote immigrant success in the United States as they seek opportunity here,” Ken Cuccinelli, acting…Fred Lucas -
- Opinion
New Tariffs on China Will Translate to More Taxes on Americans
President Donald Trump last week announced he would place new tariffs—a 10% additional tax—on $300 billion worth of products Americans import from China. Starting Sept. 1, nearly every product from China will cost more because of those tariffs. Roughly 20% of U.S. imports come from China. The Trump administration started applying tariffs on imports from…Riley Walters -
- Opinion
Why Welfare Hasn’t Cured Poverty
When President Lyndon Johnson launched his War on Poverty in the 1960s, he pledged to eliminate poverty in America. More than five decades, several welfare programs, and $25 trillion later, the welfare system has utterly failed the poor. The poverty rate remains mostly unchanged, and tens of millions of Americans are dependent on government assistance….Genevieve Wood -
- Opinion
Strong Jobs Numbers Won’t Last If Tariffs Continue
As the summer rolls on, the American economy is staying hot. That’s the main takeaway from the Bureau of Labor Statistics’ reports on Friday, which shows that the economy added 164,000 jobs in July. That lined up for the most part with expert predictions. The economy is showing signs of resiliency economy due to sound…Timothy Doescher -
- Opinion
Why the Federal Reserve Has Done More Harm Than Good
If the Federal Reserve brought home a report card reflecting its performance since its creation in 1914, its parents would not be pleased. Its record for stability is among the worst in the developed world, and it has done little to fix the problems it was invented to address. Moreover, the Federal Reserve is far…Bill Walton -
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- Opinion
Why Postal Banking Would Help Neither the Poor Nor the Postal Service
If a company lost $66 billion in 10 years and was on track to lose another $10 billion this year, would that company make a good banker? Some in Washington think so. They are urging that the United States Postal Service start providing banking services ranging from checking accounts to short-term loans. That would be…James Gattuso