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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news
Recovery Slows as Economy Adds 245,000 Jobs
The U.S. economy added 245,000 jobs in November, far below economists’ expectations, while unemployment fell to 6.7%, according to Department of Labor data released Friday. Total non-farm payroll employment rose by 245,000 last month, according to the Bureau of Labor Statistics report, and the number of unemployed Americans fell by 400,000 to 10.7 million. The U.S. added 638,000… -
opinion
Walter Williams’ Legacy: Fierce Advocate for Liberty and Economic Freedom
The world this week lost a great defender of economic freedom with the passing of the great American economist Walter E. Williams. He was 84. Williams’ legacy will be one of fighting for lasting liberty at every turn against those who would be dictators over their fellow man. As an economics professor at George Mason… -
news
Nikki Haley Criticizes Biden’s OMB Pick, Neera Tanden
Former Ambassador to the United Nations Nikki Haley criticized former Vice President Joe Biden’s choice of Neera Tanden to serve in his administration. “Tanden has shown bad judgment in the past. She said that @realDonaldTrump is ‘part of [a] conspiracy against [the] US’ & has a track record of disparaging Rep Senators,” Haley tweeted Tuesday…. -
opinion
Christmastime Is Not the Time to Hold Tariff-Cutting Program Hostage
After a year that was tough on businesses and consumers alike, the Christmas season could give a much-needed boost to the economy—as well as the morale of people across the country. But if a federal program that cuts tariffs is allowed to expire—thanks to political game-playing by liberals in the Senate—then the resulting spike in… -
opinion
The Mayflower Compact and the Roots of Economic Freedom and Private Property
With the Thanksgiving season upon us, a group of scholars is meeting today to discuss the Mayflower Compact, in a webinar series honoring the 400th anniversary of the signing of this quintessential and seminal American document. Hosted by The Heritage Foundation and the Religious Liberty Institute, the concluding webinar examines the impact of the Mayflower… -
news
‘Single Biggest Stimulus We Could Add’: Warren Ups Pressure on Biden to Cancel Student Debt
Massachusetts Democratic Sen. Elizabeth Warren again called for former Vice President Joe Biden to cancel student debt when he takes office in January. Warren, who supported canceling nearly all student debt when she ran for president, said Tuesday that doing so was a “mandate” to Biden and Sen. Kamala Harris. “For me it is a… -
opinion
Student Loan Forgiveness a Regressive Policy That Hurts Working Americans
Senate Minority Leader Chuck Schumer, D-N.Y., and Sen. Elizabeth Warren, D-Mass., are calling on the next administration to forgive $50,000 in student loan debt for every borrower through executive order, doing so, in Schumer’s words, “with the pen as opposed to legislation.” As higher education scholar Preston Cooper writes, “At a cost of roughly $1… -
opinion
Global Threats Are High. Now Is Not the Time to Shortchange National Defense Budget.
One of the unexpected consequences of COVID-19 is it forced the U.S. government to reexamine how it does its job, including how it spends on national defense. Right now, Congress must give careful attention to the national defense budget, even as it faces increasing pressure to spend on domestic programs and on issues abroad. These… -
opinion
Jordanians Head to the Polls Amid Mounting Economic and Health Crisis
A spike in COVID-19 cases and deteriorating economic conditions has cast a shadow over Tuesday’s parliamentary elections in Jordan. These elections are widely seen as a political mechanism to mitigate the growing anger over COVID-19-related hardships, which have recently taken a turn for the worst. Jordan’s strict lockdown measures in the beginning of the pandemic… -
opinion
Americans Do Not Need More Steel Tariffs
Commerce Secretary Wilbur Ross transmitted a report to President Donald Trump on Oct. 22 that examines the effect that imports of specialized electrical steel have had on U.S. national security. The report is the result of a request made in May by members of Congress and AK Steel, an American steelmaking company, to investigate whether… -
opinion
Affirmative Action, Minimum Wage, and More: Results of Key Ballot Initiatives
While most of America focuses on the presidential election, some huge issues are being decided in states around the country through ballot measures and propositions. It’s easy to forget as the nation obsesses over who occupies the White House that most policies and laws are set at the state and local level. And given that… -
opinion
Podcast: Can Young Adults Learn to Love the Free Market?
“We all know from the research, from the history, that it is free markets that do what we all want and provide what we all want to have as a country,” says Chris Cargill of the Washington Policy Center. “And yet younger generations, many of whom were born after the fall of the Berlin Wall,… -
opinion
Now More Than Ever, What Nigeria Needs Is Economic Freedom
What began as peaceful demonstrations against extrajudicial killings, police brutality, extortion, and torture committed by Nigeria’s Special Anti-Robbery Squad have become more violent in the days following the killing of at least 10 demonstrators on Oct. 20 at a place called Lekki Toll Gate in Lagos, Nigeria. That night, police fired live ammunition into the… -
news
Economy Surges at Record Rate as GDP Grows 33%
The U.S. economy grew by a record 33.1% in the third quarter of the year as employers continue to restore jobs and the country continues to feel the effects of the coronavirus pandemic. The Commerce Department figure released Wednesday reflects the rate of decline in U.S. gross domestic product during the third quarter, from July to September…. -
opinion
The Defense Budget’s Brewing Storm
“If the reason that you want a 20% cut in the defense budget is because you see the U.S. military as a fundamentally destabilizing force in the world, then I’m not going to be there.” That’s how House Armed Services Committee Chairman Adam Smith, D-Wash., framed the emerging debate on the defense budget. He was… -
opinion
The Results Are in: Reopening Fuels Record Economic Expansion
As the economic reopening continues in states and cities across the nation, economic growth last quarter smashed all prior records—growing by 7.4%, according to the U.S. Bureau of Economic Analysis. If this blistering pace continued for an entire year, the economy would swell by 33.1%. >>> What’s the best way for America to reopen and… -
opinion
US Leads International Call to Action on Women’s Economic Empowerment
As the global economy continues to rebound from the economic shocks of COVID-19, ensuring women’s economic empowerment is now more important than ever. Women will be key drivers of sustainable economic recovery and contributors to meaningful long-term development. The Trump administration positioned the U.S. to lead on these efforts even prior to the pandemic. Recognizing… -
opinion
How Colleges’ Spending Practices Often Shortchange or Defy Alumni Donors’ Intent
Even during tough times—perhaps especially then—American generosity abounds. The United States has been the most philanthropic country in the world (per capita) over the past 10 years. In 2019, individual Americans gave an estimated $310 billion to charity, with the country’s foundations donating an additional $76 billion and its corporations contributing more than $21 billion…. -
opinion
The Left’s Push to Repeal Tax Cuts Is Likely Already Damaging the Economy
The left’s crusade to raise taxes is likely already hurting the recovery, even if former Vice President Joe Biden and liberals in Congress don’t follow through with their proposed $4 trillion of tax increases. A general indifference in Congress to growing deficits makes things worse. The profits from investments made today will be taxed tomorrow…. -
opinion
How Trump Restored the Principles of Welfare Reform and Lifted Americans Out of Poverty
This article is an excerpt from the “2020 Mandate for Leadership: A Clear Vision for the Next Administration.” It looks back at policy decisions made by the Trump administration over the past four years. You can purchase your copy of “Mandate 2020” here. For decades, conservative policymakers have worked to reform welfare—so it’s a temporary safety-net,…