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
Trump Moves to Increase Transparency in Government Regulations
Kevin Lunny and his family ran Drakes Bay Oyster Company for about 50 years on the Northern California coastline before the federal government shut down the business over regulations he wasn’t aware of. “We produced nearly half of all the sustainable oysters in Northern California,” Lunny said Wednesday at the White House, before President Donald… -
opinion
Short-Term Spending Bill Will Create a Headache for the Military
President Donald Trump and Congress did what they had to do to get out of town for Congress’ two-week recess last Friday, agreeing on a continuing resolution that is a symbol of Congress’ inability to finish work on its primary responsibility: to “pay the debts and provide for the common defense and general welfare of… -
news
The Next Generation: Eugene Scalia Confirmed as Labor Secretary
The Senate confirmed a son of late Supreme Court Justice Antonin Scalia as labor secretary Thursday afternoon. Corporate litigator Eugene Scalia will succeed former Secretary Alex Acosta, who resigned on July 12 amid renewed criticism of a nonprosecution agreement he negotiated with convicted sex offender Jeffrey Epstein. The 53-44 vote followed party lines. Scalia’s service as labor secretary will… -
opinion
Toward a Freer Trade Deal With Canada and Mexico
The United States should be doing all it can to maintain a strong economy while protecting Americans’ wallets and jobs. One significant way to help inoculate the economy from a slowdown—and to make it hum along even faster—is more free trade. Trade issues aren’t just the concern of policy wonks—they’re critical to the American way… -
news
Sen. Joni Ernst Calls Out Use-It-or-Lose-It Government Spending
The fourth-ranking Republican in the Senate called on colleagues Tuesday to pass her legislation to reduce wasteful government spending and rein in agencies’ spending practices. “Government agencies are going on their annual ‘Christmas in September’ use-it-or-lose-it shopping spree,” Sen. Joni Ernst, R-Iowa, said in remarks prepared for delivery on the Senate floor. “If not spent… -
opinion
Empowering Women by Advancing Economic Freedom Around the World
The Trump White House has been pushing Ivanka Trump’s brainchild, the Women’s Global Development and Prosperity Initiative, to a greater global audience. The program, which involves the National Security Council, the State Department, and other relevant agencies, focuses on empowering women and seeks to support them in the workplace in developing and Third World countries. How? By helping these women… -
opinion
4 Budget Pitfalls Congress Should Avoid in 2020 Appropriations
With less than two weeks remaining before the start of fiscal 2020 on Oct. 1, Congress has yet to pass a single appropriations bill. That’s despite the fact that, back in July, Congress passed a massive deal to increase spending by $324 billion over the next two years. In its first effort to avoid a… -
news
Sen. Joni Ernst Aims to Reduce Use-It-or-Lose-It Government Spending
Iowa’s junior senator says she is working to spread the word on legislation to reduce wasteful government spending and rein in agencies’ last-minute spending practices. “We saw this in our own county departments where at the end of the year, that last couple months of the year, they will spend everything they’ve got remaining in… -
opinion
Why Strong Intellectual Property Laws Abroad Require a Strong US Example
China has failed to respect intellectual property rights for decades, and U.S. businesses have suffered. Thankfully, those companies are getting help from the Trump administration. In late 2017, the U.S. Chamber of Commerce and other leading business advocates asked the Trump administration to elevate the issue of trade secret protections in trade talks with other… -
news
EPA Repeals ‘Power Grab’ Water Rule It Says Stifled Innovation, Economic Development
Help is on the way for homeowners and landowners, businesses, developers, and farmers who have been victimized by “regulatory uncertainty” and federal “overreach,” Trump administration officials told business leaders Thursday. EPA Administrator Andrew Wheeler and R.D. James, assistant secretary of the Army for civil works, joined members of Congress and leaders of trade associations to… -
news
Big Labor Said to Exploit ‘Weakness’ in State Laws Despite High Court Ruling on Dues
Labor unions are working with allies in state legislatures to counteract a Supreme Court ruling that invalidated mandatory union dues and fees for government employees, according to a new report from a free-market think tank. In June 2018, the high court ruled that “agency shop” laws requiring nonunion government employees to pay the union violate… -
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… -
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”… -
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… -
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… -
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… -
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… -
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… -
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… -
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…