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
Small Business Owners Praise Tax Cuts, but Raise Concerns Over Potential Minimum Wage Hike
Small business owners voiced concerns over House Speaker Nancy Pelosi’s plan to repeal the Trump administration’s 2017 tax cuts and double the national minimum wage to $15 an hour in a media call with Job Creators Network Thursday. “The climate for small business owners have never been better,” said Job Creators Network CEO Alfredo Ortiz,… -
opinion
Podcast: The Trade Deal’s Overlooked Liberal Policies
There’s a lot to like about the new United States-Canada-Mexico trade deal (also known as the USMCA), says Tori Whiting of The Heritage Foundation. But there’s also some elements that should give conservatives pause, such as minimum wage requirements and liberal social policies on sexual orientation and gender identity. Whiting joins us to explain what’s… -
news
Balanced Budget Amendment Proposed as Government Reopens
While federal employees return to work after the historic 35-day partial government shutdown, there is little being said about their employer’s climbing national debt of $21 trillion. Two senators are speaking up again about the problem. Sens. Mike Lee, R-Utah, and Chuck Grassley, R-Iowa, reintroduced an amendment to the Constitution on Thursday requiring the federal… -
opinion
Latest CBO Budget Projections Show Why Congress Must Stop Delaying Spending Reforms
America’s spending addiction is continuing to spiral down an unsustainable path, threatening to hurt economic opportunity and financial security for the most vulnerable Americans, especially minorities, low-wage workers, and women—all of whom benefit from the current strong economy. That’s the key takeaway from the Congressional Budget Office’s latest budget outlook projections, released Monday. The short-term… -
opinion
It’s Not Going to Be Easy to Rebuild Venezuela’s Economy
The current crisis in Venezuela is having little impact on global markets. In fact, going forward, there is really little downside economic risk. A huge upside potential exists, however, if the U.S.-led coalition of countries and—more importantly—the Venezuelans themselves are able to exert enough peaceful and nonviolent pressure to force Nicolás Maduro to end his… -
opinion
We Hear You: Socialism, Sweden, Minimum Wage, and Obamacare
Young Americans' affection for socialism and other government-run or mandated aspects of life stirs vocal opinions from The Daily Signal's audience. Here is a sampling. Write us at [email protected].—Ken McIntyre Dear Daily Signal: It is difficult to compare the U.S. to any of the Nordic countries, is my thought on John Stossel’s commentary headlined “Sweden… -
opinion
3 Ways Economic Freedom Improves Quality of Life
The Heritage Foundation’s 2019 Index of Economic Freedom has just been released, and once again, greater economic freedom has been shown to increase individual and societal well-being in terms of health outcomes, educational achievement, and clean natural environments. Economic Freedom Means aGreater Life Expectancy Life expectancy is an important measure of well-being. The World Health… -
news
Seattle Couple Fears $16 Minimum Wage Could Doom Subway Franchise
When Heidi Mann and her husband Karam took a leap of faith 15 years ago and purchased a Subway franchise in Seattle, they had no idea that one day their dreams could be shattered by the city’s required increases in the minimum wage. Nine years later, the Manns bought a second Subway sandwich shop in… -
opinion
Lawmakers Are Pushing a $15 Minimum Wage. Here Are 3 Disastrous Consequences That Would Result.
House Democrats are looking to double the minimum wage, with little eye to the consequences. Led by Virginia Democrat Bobby Scott, House Democrats introduced the Raise the Wage Act, which would more than double the federal minimum wage from $7.25 to $15 per hour by the year 2024. Democratic lawmakers have long been in favor… -
news
Trump Touts Low Veteran Unemployment Numbers
President Donald Trump celebrated low unemployment numbers for veterans Tuesday on Twitter while simultaneously taking a jab at the media. “Just announced that Veterans unemployment has reached an 18 year low, really good news for our Vets and their families,” Trump wrote. “Will soon be an all time low!” The president appears to be referencing recent media… -
opinion
The Problem Isn’t the Poor. It’s Young Men on Welfare Who Could Be Working.
Left-wing media stalwarts such as Newsweek, Huffington Post, and Salon launched a barrage of fake news after I appeared on “Fox & Friends” recently to discuss new Agriculture Department rules tightening work requirement on food stamps. Unfortunately, the now all-too-common disinformation campaigns from the left, distorting or simply lying about what our president says or… -
opinion
Owner of Historic Boston Restaurant Says Minimum Wage Hikes Hastened Its Demise
Durgin-Park, a renowned Boston restaurant, has been around for a long time. It opened in 1827, when Massachusetts’ own John Quincy Adams was president of the United States. Phil Klein of the Washington Examiner wrote: “The restaurant, located in Boston’s Faneuil Hall, was an institution and tourist attraction, serving New England staples, such as chowder, shepherd’s… -
opinion
Those Fretting About the Economy Can Rest Easy After December Jobs Report
After a disappointing month for the stock market, few could have predicted just how strong the rest of the economy would hold up. But for those concerned about the state of the economy, Friday’s jobs report will come as reassurance. The Bureau of Labor Statistics reported Friday that the U.S. economy added a whopping 312,000… -
opinion
House Democratic Rules Package Could Mean More Spending, Higher Taxes
As Congress gears up for the new term, the House of Representatives is preparing a vote this week on rules to govern the 116th Congress. A few notable provisions are grabbing the headlines, such as allowing the speaker to “intervene” in challenges to Obamacare, establishing a new select committee on climate change, and making it… -
opinion
Year-End Spending Deal Contains Troubling Provisions, Busts the Budget
Discussion of the year-end continuing resolution, or spending deal, has hinged on two topics: whether additional funding will be provided for border security, and whether there will be a government shutdown. Although the real-life impact of a partial government shutdown would be minimal, its prospect facilitates end-of-the-world rhetoric that the 24/7 news cycle thrives on…. -
opinion
Here Are the 5 Worst Budget Blunders of the 115th Congress
The Roman philosopher Seneca wrote that “every new beginning comes from some other beginning’s end.” As Washington anticipates the start of the 116th Congress on Jan. 3, it marks the end of the 115th. In some ways, it was a successful two years. For the first time in over 30 years, Congress passed comprehensive tax… -
opinion
Senate’s Conservative Prison Reform Advances Trump’s Public Safety and Economic Growth Agendas
Today, senators are debating amended criminal justice legislation that the House passed in May, by a vote of 360-59, with support from President Donald Trump and law enforcement professionals. The bill carefully merges Trump’s agenda on public safety and the economy, using evidence-based reforms from conservative states that have helped to reduce crime. And if… -
opinion
The Reasons Protectionists Want to Keep the Economic Pie From Growing Are Half-Baked
During the holiday season, the weather cools and families gather, and we anticipate a delicious family dinner. When dinner comes to a close, we enjoy a classic tradition, pie. When we’re surrounded by loved ones, what could be better? But while the holiday pie will invariably run out—and according to this survey, the pumpkin pie… -
opinion
Electric Vehicle Tax Credits Another Form of Corporate Welfare
If America’s auto manufacturers wrote letters to Santa, it’s not hard to guess what would be high on their lists: retaining the federal tax credit for electric vehicles. For several years now, Uncle Sam (who often acts like Santa’s U.S.-based cousin) has tried to encourage the public to buy electric vehicles by offering those who… -
opinion
Podcast: Making Sense of the Latest Jobs Report
On today’s show, we analyze November’s job gains and the historically low unemployment rate. Will it last? The Heritage Foundation’s Tim Doescher, who writes about the employment report each month for The Daily Signal, joins us with the highlights. We also feature an interview with Ericka Andersen of the Independent Women’s Forum, who is author of the book…