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
Government’s Obsession With Regulation Just Drove Uber Out of Austin
On May 9, residents of Austin, Texas, accomplished what many New York City regulators and legislators have tried in vain to achieve: they forced Uber and Lyft out of their city. Over the weekend, a mere 17 percent of the voters went to the polls and a majority voted in favor of retaining restrictive and… -
news
Meet the Woman Who Oversaw Maine’s Welfare Reform
For Mary Mayhew, reforming the state’s welfare system hasn’t been easy. But the impact those reforms have had on Maine residents makes it all worth it. Since joining Gov. Paul LePage’s administration in 2011, Mayhew, commissioner of the Maine Department of Health and Human Services, and LePage, a Republican, have implemented changes to Temporary Assistance… -
opinion
Mixed News in April Jobs Report
The Bureau of Labor Statistics’ April jobs report contained mixed economic news. The agency reported wages grew healthily, overall unemployment did not rise, and long-term unemployment fell slightly in April. At the same time, job growth slowed and labor force participation dropped. The labor market is not contracting, but it is not growing as quickly… -
news
House Republicans to Move Forward on Spending Without a Budget Number
House Majority Leader Kevin McCarthy, R-Calif., just ended a civil war that has raged inside the chamber’s Republican conference for months. GOP leadership will not bring a budget plan to the floor next week for a vote, McCarthy’s office told Politico Thursday afternoon. And without a budget resolution, the House Appropriations Committee can begin moving… -
news
The Left’s Push to Get Rid of Government Spending Transparency
How transparent is your state government’s budget? According to North Dakota Treasurer Kelly Schmidt, it can vary widely from state to state. In an interview with The Daily Signal, Schmidt explains why no matter where you live, citizens should be aware of a growing movement among liberal lawmakers to make it harder for you to… -
news
How Republicans Lost Control of the Spending Fight in Congress
Republicans arrived in Washington this year promising a return to “regular order” in Congress. It was a hallmark of Paul Ryan’s quest to be House speaker and Mitch McConnell’s way of showing that the Senate could get things done. Gone were the days of omnibus spending bills and continuing resolutions—or the dreaded combination of the… -
news
House Freedom Caucus Chairman Vows to Push Conservative Amendments to Spending Bills
The chairman of the House Freedom Caucus said Wednesday that Republicans should be able to put forth “conservative policy riders” to appropriation bills. “If we really are about quote ‘regular order’ then that means the ability to offer amendments and push for those policy changes that we think make sense,” Rep. Jim Jordan, R-Ohio, told… -
opinion
Why Trade Doesn’t Cause Unemployment
Recently some have claimed that international trade is responsible for unemployment in the United States. It can be shown that over the last 40 years this has not been the case. Others have argued that imports destroy American jobs. Again, these claims are mistaken. According to Bryan Riley and Anthony Kim, senior policy analysts at The Heritage Foundation, “the… -
opinion
Earth Day: Ditch the Tree Hugging for Free Markets
Earth Day isn’t a day for yoga pants, organic granola, and communal tree hugging. In fact, nothing says Earth Day quite like a new coal power plant. Before you write me off as a fossil fuel industry operative, let me explain this and other unconventional ways Americans are good stewards of the environment. 1) Profit-seeking,… -
news
$15 Minimum Wages Would Be the Highest in the World
Leaders in New York and California signed legislation earlier this month that will raise the states’ minimum wages to $15 an hour, a rate higher than any other state’s in the nation, and every other nation in the world. “Today’s landmark agreement will lift up poor Californians and give hardworking employees the resources they need… -
news
A Family-Owned Business Braces for California’s Minimum Wage Hike
SAN DIEGO—Elvin Lai has been in the hospitality business his entire life. The San Diego hotel where he serves as chief executive officer has been in his family for four generations, and Lai can rattle off childhood memories of his younger years spent at the beachfront property. Lai asked that his hotel name not be… -
news
LA City Council Halts Discussion of Minimum Wage Exemption Pushed by Labor Unions
The Los Angeles City Council isn’t currently planning to further discuss a proposal exempting union members from the southern California city’s new minimum wage, despite the proposal having the backing of labor unions. A spokesperson for Council Member Curren Price, chairman of the Economic Development Committee, told The Daily Signal the union exemption isn’t moving… -
opinion
Brazil’s Presidential Woes Reflect Lack of Economic Freedom
The Financial Times reports that on Sunday, April 17, “the lower house of Brazil’s congress is set to vote on the motion to impeach President Dilma Rousseff in a move that her critics hope will spell the end for the former Marxist guerrilla and the markets’ longtime nemesis.” According to the Wall Street Journal, the… -
news
‘Stop Cheating Taxpayers:’ Ben Sasse Introduces Bill Requiring Obamacare Program to Reimburse Treasury
Sen. Ben Sasse, R-Neb., introduced a bill Thursday that would force the Obama administration to deposit $5 billion in the Treasury by 2017 as required under Obamacare’s reinsurance program or face steep cuts to its departmental management fund this year and next year. Called the “Taxpayers Before Insurers Act,” Sasse’s legislation codifies penalties for the… -
opinion
Maine’s Successful Welfare Reform and Why It Worked
States are often the best laboratories for testing out what public policies will make life better for their citizens. Maine’s experiment with welfare reform is a great example. When Gov. Paul LePage, only the second Republican governor of Maine in the past 50 years, came into office, one in three people living in the state was… -
news
New York’s $15 Minimum Wage Called ‘Too Much, Too Fast’ for Small Business Owners
“I think most business owners’ gut feeling is: ‘It’s not going to be good,’” Rod Dion, who owns a small business in Albany, N.Y., said of New York’s new law hiking the minimum wage to $15 an hour. “I think there is a lot of concern, because I don’t think any of us understand what… -
opinion
Steel Tariffs Cost American Families Hard-Earned Money
The Office of the United States Trade Representative (USTR) and the U.S. Department of Commerce will hold a public hearing “on the global steel industry situation and its impact on the U.S. steel industry and market.” The hearing provides an opportunity for the public to comment on government policies that attempt to “protect” U.S. steel producers… -
opinion
Green Subsidies Bill Perfectly Illustrates Washington’s Spending Addiction
Christmas came early last year for green companies looking for Washington handouts after Congress passed legislation extending massive subsides for wind, solar, and other renewable energy companies. Now the Senate is attempting to ensure that Christmas comes again for these same companies by expanding the qualifying sources for green goodies. Free enterprise, not the federal… -
news
Under California’s Minimum Wage, This Bookstore Owner Is Struggling to Survive
After more than a decade at the helm of her bookstore, Ann Kinner faces an uncertain future because of new measures at the city and state level to raise the minimum wage. On June 7, San Diego residents will vote on a ballot measure to raise the city’s minimum wage to $11.50 an hour in… -
news
Will This New Labor Department Rule Give Unions an ‘Edge’?
The Labor Department is imposing regulations requiring more information to be disclosed about agreements between employers and labor relations consultants. The new “persuader” rule, which takes effect April 25, interprets a section of the Labor-Management Reporting and Disclosure Act of 1959 covering employers and the consultants they hire. The House Committee on Government Oversight and…