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
Obama Calls Out ‘Millionaires’ to Pay for Student Loans
Using his pen again in “this year of action,” President Obama today took executive actions to ease the burden of student debt at the expense of “millionaires.” The program, “Pay as You Earn,” expands an existing federal loan option available to undergrad and graduate students. It issues caps on monthly loan payments at 10 percent…Kelsey Bolar -
- News
Seattle Mayor Says $15 Minimum Wage Is ‘Model for the Nation’
A week ago, Seattle made history when it bumped its minimum wage to $15 an hour, and yesterday Mayor Ed Murray defended the city’s move, trumpeting it as a “model for the nation.” Murray argued that the minimum wage hike is key to Washington state’s recovery. “If we want to regain our economic strength and…Philip Wegmann -
- News
Consumers Hit With Surcharge to Cover City’s $15 Minimum Wage
In the city of SeaTac, Wash., where the minimum wage is now $15 an hour, one business is charging customers a “living wage” surcharge. An airport parking service, Masterpark, “is charging customers an additional 99 cents per parking day,” reported Northwest Watchdog. Near SeaTac, Seattle also is hiking its minimum wage. On Monday, the city…Philip Wegmann -
- Opinion
May’s Jobs Report: Lowest Percentage of Americans Working in Decades
There was good news and bad news in today’s jobs report, and both came from what the report did not show. The did not show either the warning or hopeful signs that many economists anticipated. The good news: Despite the U.S. economy shrinking in the first quarter–its first quarterly contraction in three years–job growth remained healthy. Employers added 217,000…James Sherk -
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ACLU Rejects Amendment to Corral Campaign Spending
Democrats pushing for a constitutional amendment that would give government the authority to regulate political spending by outside groups will do so without one traditional ally at their side. In a letter submitted Tuesday to the Senate Judiciary Committee, the American Civil Liberties Union expressed opposition to the amendment, saying it would “lead directly to…Josh Siegel -
- Opinion
The Real Story Behind the Small Business the Export-Import Bank Claims It Built
Officials of the Export-Import Bank have gotten themselves into quite a pickle. The “small business” they continuously showcase as proof of their success actually has a different history than the promotional version. In a variety of videos, press releases, news accounts and blogs, bank Chairman and President Phil Hochberg extols Ex-Im for transforming Miss Jenny’s…Diane Katz -
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Study: Wealthier Americans Fear Running Out of Money in Retirement But Won’t Give Up Spending
More harrowing than gaining weight, public speaking or going to the dentist, running out of money in retirement is the biggest fear for wealthier Americans, according to Bank of America’s latest Merrill Edge report. But even fear of going broke will not curb this group’s spending habits. The biannual survey—questioning 1,000 Americans with $50,000 to…Marguerite Bowling -
- Opinion
See How Cronyism Affects You—in Less Than 90 Seconds
What is “cronyism,” and why does it matter? Merriam-Webster defines it as “the unfair practice by a powerful person (such as a politician) of giving jobs and other favors to friends.” This matters because there are only a few in power, and chances are you’re not one of the favored “friends”—but it’s your money they’re…Amy Payne -
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Favoritism and Cronyism Flourish in Mississippi
When a new megadeal with a corporation moving to Mississippi is announced, politicians hold a news conference, cut a cake, boast about the number of jobs created and toss some dirt with gold shovels. But recently published research by Christopher Coyne and Lotta Moberg of the Mercatus Center at George Mason University casts major doubt…Steve Wilson