Joint Economic Committee

Chairman

Congressman Pat Tiberi (R-OH)

CHART OF THE WEEK

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Is Obamacare Mitigating the Opioid Crisis?

 

Rise in opioid overdose death rates

 

Since 1999, the largest year-over-year increases in the opioid overdose death rate were in 2014 and 2015, just after the individual mandate, Obamacare exchanges, and Medicaid expansions were implemented. While the graph does not prove that Obamacare caused a spike in the opioid-related death rate, it makes it hard to argue that Obamacare is helping.  See the JEC releases below for more on the opioid crisis.

 

LAST WEEK

News & Commentary Weekly Highlights

Wall Street Journal: Sobering Testimony for Lawmakers Searching for Answers on Opioid Crisis

Mortgage Professional America: Financial CHOICE Act would slash deficit by billions – CBO

Wall Street Journal: Fiduciary Rule Is Now (Partially) in Effect

Bloomberg: May Vows to Stay on for Brexit After Forging Loose Alliance

 

Top Economic Indicator Highlights

Productivity and Costs (First Quarter 2017)

Nonfarm Labor Productivity (year-over-year percentage change)

 

2017Q1: 1.2%             2016Q4: 1.2%             2016Q3: 0.1%             2016Q2: -0.3%

 

Noteworthy: Productivity, the essential ingredient to a rising standard of living, was 1.2% higher than last year.

           

JEC Releases

Opioids and Obamacare: What’s the Real Story?

Tiberi: Drug Abuse Devastates Families, Degrades Communities, and Undermines Parts of the Economy

Economic Aspects of the Opioid Crisis (link to hearing video and witness testimonies)

The Opioid Crisis

 

THIS WEEK

Upcoming Economic Data and Events

Monday

Survey of Consumer Expectations (11:00am)

 

Tuesday

Producer Price Index (8:30am)

 

Wednesday

Advance Retail Sales (8:30am)

Consumer Price Index (8:30am)

Real Earnings (8:30am)

Business Inventories (10:00am)

 

Thursday

Empire State Manufacturing Survey (8:30am)

Exports/Imports (8:30am)

Philly Fed Manufacturing Survey (8:30am)

Industrial Production and Capacity Utilization (9:15am)

 

Friday

Business Leaders Survey (8:30am)

New Residential Construction (8:30am)

Atlanta Fed Business Inflation Expectations Survey (10:00am)

Michigan Consumer Sentiment (10:00am)