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
Economic Freedom Is Key to Enhancing Relationship Between Sri Lanka and US
Speaking on the 73rd Independence Day of Sri Lanka on Feb. 4, President Gotabaya Rajapaksa observed: “The foundation of our citizen-centric economic policy is that the true potential of the economy cannot be unleashed without economic freedom.” He further noted that “to achieve the government’s aims of eliminating poverty, providing equal opportunity for improvement of… -
opinion
$15 Minimum Wage Would Harm Those It’s Supposed to Help
As someone who grew up in poverty and worked much of her career to help others out of it, I know the importance of having a good job with a good income. It’s a way out of poverty for many. It allows people to provide for their families. And we all know the sense of… -
news
Here’s What $15 Minimum Wage Would Mean for This Frozen Yogurt Shop Owner
Some lawmakers’ push to raise the national minimum wage to $15 an hour is “truly maddening,” small business owner Stuart Hornsby says. Hornsby owns a frozen yogurt shop, a business he built from the ground up in 2013, in a small city in northwest Georgia. With the exception of the manager and a few other… -
news
Restaurant Owners, Workers Warn of ‘Unintended Consequences’ of $15 Minimum Wage
Restaurant owners and tipped employees alike are expressing concerns over a proposal to raise the national minimum wage to $15 an hour, with one going so far as to say it would amount to a “death knell” for the restaurant industry. President Joe Biden has called for a $15 an hour minimum wage in his… -
opinion
Unintended Consequence of $15 Minimum Wage: Higher Child Care Costs
Many families struggle to find child care, especially at a cost they can afford. A $15 federal minimum wage could make child care unattainable for millions more families. Higher wages are a great thing, especially for child care workers who serve such an important role in the lives of children and families. But the reality… -
opinion
Call Transportation Bailouts What They Are: More Welfare for Labor Unions
Congress is moving full steam ahead on ramming through a bloated, wasteful, and debt-exploding $1.9 trillion legislative package. Although it’s supposedly justified by the COVID-19 pandemic, most of the spending is designed to appease progressive ideological causes and politically connected interest groups. A prime example is the $57.5 billion currently earmarked for various parts of… -
opinion
We Shouldn’t Rinse and Repeat When It Comes to Costly Washing Machine Tariffs
Sunday was supposed to mark the end of a three-year rinse cycle for Americans, at least when it comes to higher prices for washing machines. But before leaving office, former President Donald Trump put washer tariffs on repeat for another two years. Americans have paid taxes of up to 50% on washers and their inputs… -
opinion
Biden OMB Nominee Neera Tanden Will Expand Left’s Power Through Big Government Bureaucracy
President Joe Biden’s pick for the director of the Office of Management and Budget, Neera Tanden, participated Tuesday in one of her two Senate committee hearings. If our senators fail to recognize and defend their duty to preserve democratic power for the American people and allow Tanden to hold this position, we can expect her… -
opinion
Remembering Free Market Economist George P. Shultz
George P. Shultz, one of America’s leading statesmen and champions of free markets, died Saturday. He was 100. During his distinguished career, Shultz, a former Marine, served as secretary of labor, secretary of the treasury, and secretary of state. On top of that, he was the first director of the Office of Management and Budget…. -
opinion
6 Bleak Consequences From CBO’s Report on the $15 Minimum Wage
Rising incomes are a great thing, and it would be wonderful if all jobs paid at least $15 per hour. After all, that would reduce government welfare spending and give people more freedom and greater financial security. Hence liberal lawmakers’ Raise the Wage Act of 2021 (S. 53), which would incrementally increase the federal minimum… -
opinion
GameStop, Robinhood, and Short Selling: Not a Free Market
For many years, researchers at The Heritage Foundation have pointed out that U.S. financial markets have been highly regulated for more than a century, especially after the 1930s. Regulatory intrusion in the capital markets has increased steadily, with major new legislation imposing ever more rules about every decade. That fact is critically important in understanding the recent… -
opinion
It’s Time to Engage Allies to Protect Defense Supply Chains
In World War II, the United States became known as “the arsenal of democracy” and has filled that role ever since, with a robust defense industry sustaining a strong military. But according to a new administration report, the U.S. defense industrial base faces threats at a time when the country can least afford them—challenges it… -
opinion
Leading by Example, Barstool Fund Steps Up to Save Small Businesses
Victor Child Care Center in Victor, New York, was on the brink. Ravaged by costs incurred as a result of COVID-19, Laurie Lavery, owner of the business, needed to cut back more and more services to stay afloat. Eventually, Lavery, 64, was forced to scrub the floors and bathrooms of the center by herself on… -
news
Will Biden’s Policies Lead to Job Losses? Here Are Possible Economic Impacts of 4 of Them.
President Joe Biden’s policies, announced in the first days of his administration, potentially could kill millions of jobs, according to estimates from both government and private studies. Since taking office Jan. 20, Biden has announced a slew of policies, including executive actions to immediately take effect and legislative proposals. By his third day in office,… -
opinion
$15 Federal Minimum Wage: An Anchor on Struggling Businesses
President Joe Biden has proposed a nationwide $15 minimum wage as part of his so-called “American Rescue Plan.” Talk about bad timing: Raising labor prices on businesses that are struggling to stay afloat is like throwing them a load of bricks instead of a life preserver. State and local governments raising their minimum wages is… -
opinion
House Democrats’ Deja Vu Tax Agenda for ‘Equity’ Would Hurt (Not Help) Economic Opportunity
House Ways and Means Committee Democrats recently released their framework to “make our nation a more just and equitable place.” The goal of lifting more “people onto career ladders” and providing more robust economic opportunities for American families is admirable. But the committee’s framework simply expands tax programs that have for decades failed to meet… -
opinion
On 1st Anniversary, China Phase One Trade Deal Has Not Aged Well
Jan. 15 marks one year since the U.S. and China signed a bilateral agreement, known as the Phase One deal, establishing new rules on trade. After a full year, and as a new administration and Congress assume power, it’s important to evaluate the effectiveness of the deal at achieving its goals. It’s not a pretty… -
opinion
9 Wasteful Programs From Massive Spending Bill That Can, and Should, Be Reversed
President Donald Trump is right: There’s a lot of ridiculous gimmicks and wasteful projects in the new massive spending bill. And the good news is there’s something that Trump can do about it, even though he recently signed the huge COVID-19 stimulus and omnibus spending bill into law. While signing the bill, the president released… -
opinion
Christmas Shoppers Beware: Chinese Slave Labor Is on the Rise
As Americans peruse store aisles and websites in search of Christmas gifts this year, many may not be aware of a sinister and growing problem with the products they are buying: If it was made in China, there’s a good chance that it was produced through slave labor. Ken Cuccinelli, acting deputy secretary of the… -
opinion
Whole Foods Market CEO’s Defense of Free Markets Is Food for Thought
In a recent event hosted by the American Enterprise Institute, Whole Foods Market CEO John Mackey highlighted the many ways in which business elevates humanity. Mackey specifically praised the innovation and value creation inherent in free market capitalism that have resulted in astonishing growth and real, measurable human progress from a world of near-universal poverty…