Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
opinion
Joint Select Committee Should Focus on Improving Budget Transparency
The first public hearing of the new Joint Select Committee on Budget and Appropriations Process Reform will take place on Tuesday. The committee was established in February by the Bipartisan Budget Act of 2018 and is made up of 16 members (eight Democrats and eight Republicans) equally divided between the House of Representatives and the… -
news
As US-China Trade War Looms, Ukraine Stands to Gain
KYIV, Ukraine—Amid the specter of a looming trade war with the U.S., China is boosting its economic ties with Ukraine. For one, Ukraine has overtaken the U.S. as China’s top corn supplier. Five years ago, the U.S. supplied about 97 percent of Chinese corn imports. In 2017, however, Ukraine accounted for about two-thirds of China’s… -
opinion
Trump Should Focus on Debt Crisis Rather Than Raising Tariffs
Donald Trump achieved the presidency telling the American people he would “Make America Great Again.” Given that during eight years of Barack Obama’s presidency there was not a single year in which national satisfaction, as measured by Gallup, averaged above 30 percent, tapping into Americans’ general dissatisfaction with the state of the nation was good… -
news
4 Areas of Federal Budget That Got Bigger Percentage Boosts Than Defense
Republicans in Congress tout increased military spending in the omnibus budget bill signed by President Donald Trump, but spending on defense actually increased less than four other areas in percentage terms. An analysis by CQ shows that four other areas are getting larger increases in spending than the Department of Defense. In descending order by percentage… -
opinion
Trump Issued a Call for Welfare Reform. Here Are 4 Actions Policymakers Can Take.
President Donald Trump this week signed an executive order calling for reforms in the welfare system to promote work and strengthen marriage. The president is right to address this pressing issue. Welfare reform is needed. Today, the welfare system aggressively penalizes marriage among low-income parents and discourages work and self-support. We have spent $28 trillion… -
opinion
New CBO Report Shows Spending on Abysmal Path
If you are looking for some grim reading, try the latest budget and economic outlook for the coming decade from the Congressional Budget Office. It is not only that the fiscal situation is spiraling out of control, it also is happening even faster than expected. The Congressional Budget Office now expects trillion-dollar deficits to return… -
opinion
Amazon Controversy Makes the Case for a Private-Sector US Postal Service
Is Amazon causing the U.S. Postal Service to lose money? That’s the assertion made by President Donald Trump last week in a series of tweets criticizing a Postal Service contract with Amazon, under which the Postal Service delivers Amazon orders to homes across America. Amazon is using the Postal Service as its delivery boy, complains… -
news
Commerce Secretary Ross Wants to See US Catch Up to Other Countries on Economic Freedom
The United States will be turning the tide on economic freedom, said Commerce Secretary Wilbur Ross, referencing the United States being ranked 18th on The Heritage Foundation’s Index of Economic Freedom. “It’s imperative that we acknowledge and address the reasons for which our country lags behind the 17 nations that are ranked above us,” Ross… -
opinion
These 3 Charts Show the Importance of Economic Freedom
Since 1995, The Heritage Foundation’s Index of Economic Freedom has tracked the progress of economic freedom around the world and measured the tangible impact of expanding economic liberty. Three charts released in conjunction with this year’s U.S. launch of the index highlight some of the abundant fruits economic freedom brings to people fortunate enough to… -
opinion
Existing Trade Deals Are Good for US Trade Balance
Trade skeptics and protectionists have charged that trade agreements like NAFTA and the U.S.-Korea trade agreement favor foreign producers and have contributed to the U.S. trade deficit. A recent Heritage Foundation event featuring speakers Frank Lavin, former undersecretary of Commerce for international trade, and Fredrik Erixon, the co-founder of a European think tank, explored the… -
opinion
Hits and Misses in Trump’s New China Trade Policy
The president recently announced a three-pronged strategy to target China for its alleged “unfair trade practices.” This new strategy includes challenging Chinese intellectual property practices at the World Trade Organization, further restricting Chinese investment, and imposing tariffs on consumer goods from China. The administration’s approach represents a combination of good policies that will minimize harm… -
news
Empower Women With Conservative Economic Policies, GOP Congresswomen Urge
The best way to empower women is through conservative policies such as tax reform, four Republican congresswomen say. Noting that most women are responsible for household finances and health care decisions, and that female-owned businesses employ more than 8.4 million people, the GOP lawmakers explained their support for tax relief and tax reform at a… -
opinion
Omnibus Spending Bill Was a Giant Giveaway to the Swamp
Last Wednesday, House leadership released a 2,232-page omnibus spending bill that keeps the federal government open through October. This bill was negotiated completely behind closed doors by just four people: House Speaker Paul Ryan, House Minority Leader Nancy Pelosi, Senate Majority Leader Mitch McConnell, and Senate Minority Leader Chuck Schumer. These four people wrote a… -
news
Congress Passes Huge Budget, but It’s Not Trump’s
The Senate followed the House by passing a $1.3 trillion spending bill early Friday morning that funds the government through September, after taking 11 hours to consider the 2,232-page bill. The spending bill and its contents attracted ire from both parties, but Republicans in the majority took issue with both the substance and the process… -
news
11 Reactions From Conservatives Unhappy With the Massive Government Spending Bill
Conservative lawmakers are disgruntled and outraged by the $1.3 trillion omnibus spending bill passed by Congress. The Senate passed the massive package, 65-32, early Friday, following the House’s 256-167 vote Thursday. Government funding was set to run out at 12:01 a.m. Saturday, and President Donald Trump unexpectedly threatened to veto the spending bill, which fails to… -
news
House OKs Spending Bill to Fund Government, but 90 Republicans Vote No
The House approved a $1.3 trillion omnibus spending bill Thursday to fund the government through September, allowing federal offices to stay open at the weekend but hampering some of President Donald Trump’s agenda items. The House approved the so-called omnibus bill by a vote of 256-167, but most of the dissenting votes came from Republicans, who hold… -
opinion
Omnibus Spending Bill Amounts to a Bundle of Broken Promises
There have been three periods of unified Republican control of the federal government since World War II. We are living in the third. Our country is built on separation of powers, and our people generally favor divided government. When Americans gave us control of the House, the Senate, and the presidency, their message was clear:… -
news
3 Major Problems Conservatives Have With the Government Spending Bill
Major conservative priorities have gone missing in the spending bill to fund the government through September, House lawmakers say. Rep. Mark Meadows, R-N.C., chairman of the House Freedom Caucus, spelled out the worry Wednesday during Conversations with Conservatives, a monthly meeting with reporters hosted by conservative lawmakers and The Heritage Foundation. “I think the real… -
opinion
New Study Shows Minimum Wage Puts a Damper on Long-Run Earnings
Economic studies consistently show that higher minimum wages lead to higher unemployment, particularly among teenagers. But that’s a consequence minimum wage advocates have been willing to accept in exchange for higher incomes for minimum wage workers who keep their jobs. It turns out, however, that higher minimum wages actually reduced the long-run earnings of teenagers… -
opinion
Big Government Tariffs Do Not Make America Great
The federal government does not make America great, and never has. Americans make America great, and they can best do the job when meddlers, busybodies, and crony privilege seekers in Washington get out of the way. Getting out of the way means cutting high and uncompetitive tax rates, eliminating those regulations that are ineffective and…