Consumer Price Index Inflation Ends FY2025 3.01 Percent, SSA Announces 2.8 Percent 2026 Cost-of-Living-Adjustment
To conclude fiscal year 2025, headline consumer price index (CPI-U) inflation was 3.01 percent year-over-year and 0.31 percent month-over-month. Additionally, the Social Security Administration (SSA) announced today that the 2026 Cost-of-Living-Adjustment (COLA) will be 2.8 percent, 0.3 percentage p...
U.S. Debt Hits New Record High, tops $38.019 Trillion; Added $1 Trillion in Only 71 Days, Almost $383 Billion During the Government Shutdown Alone
Joint Economic Committee Chairman David Schweikert released the following statement after the total public debt of the United States reached a new record high of $38.019 trillion.
U.S. Deficit Decreases 2.8 Percent to $1.8 Trillion in FY2025, September Ends with $198 Billion Surplus
In FY2025, the nation ended with a $1.78 trillion deficit, $50 billion (2.8 percent) less than FY2024. Leading to the decreased deficit impact was the record-setting tariff collections of $195 billion for FY2025, increased tax receipts, and modifications to the student loan program authorized in the...
National Debt Increases almost $69,000 per Second, by $2.2 Trillion Year over Year; Interest on Debt Projected to Increase
As of October 03, 2025, total gross national debt is $37.85 trillion, which is $2.17 trillion higher than one year ago and $10.83 trillion higher than five years ago. Also, over the past year, the rate of increase averaged $5.96 billion per day, $248.27 million per hour, $4.14 million per minute, or...
Government Shutdown Impacts Data Availability and Updates
The lapse in appropriations (government shutdown) has impacted the availability of some data used in the Joint Economic Committee’s Monthly Employment Update. As a result, the update this month only includes data from the Job Openings and Labor Turnover Survey released Tuesday, September 30.
FY2025 Debt Increased by $2.2 Trillion, Stands at Over $37.6 Trillion
At the end of FY2025, total federal debt stood at $37.6 trillion, with total debt equal to 122.6% of GDP and public debt equal to 115.5% of GDP, based on CBO’s September 2025 economic outlook.
Inflation Remains Above Fed Target
From July 2025 to August 2025, headline personal consumption expenditures (PCE) price index inflation was 0.26 percent. Core PCE price index inflation, which excludes food and energy prices, was 0.23 percent.
August State Unemployment Remained Unchanged in 26 States, Decreased in 13, Increased in 12
In August, among the 50 states and the District of Columbia, unemployment fell in 13, rose in 12, and remained unchanged in 26. The highest unemployment rate was 6 percent in the District of Columbia, and the lowest was 1.9 percent in South Dakota.
JEC: Rising Debt to GDP is Existential Threat to the U.S. Economic Security
Friday, the Joint Economic Committee Chairman David Schweikert sent House Budget Committee Chairman Jodey Arrington its latest Views and Estimates letter as required by the Congressional Budget Act of 1974 providing policy recommendations consistent with the goals of the Employment Act of 1946. In t...
Deficits Up Compared to Last Year; Roughly 30 Percent of Spending is Borrowed Money
In August, the federal government ran a deficit of $344.792 billion. From the beginning of the fiscal year to August, deficits were $1.974 trillion. This means 29.61 percent of outlays thus far in FY2025 were not paid for by revenues, and for every dollar the federal government received in revenue, ...