JEC Chairman Schweikert Files Joint Economic Report in Response to the Economic Report of the President
Celebrating its 80th anniversary, the Joint Economic Committee, under the leadership of Chairman David Schweikert, filed its annual Joint Economic Report in response to the 2026 Economic Report of the President. The Joint Economic Committee was created by the Employment Act of 1946, and pursuant to ...
April Closes with $215.02 Billion Surplus, Up to $953.569 Billion Deficit for FY2026
In April, the federal government ran a surplus of $215.02 billion. From the beginning of this fiscal year to April 2026, deficits were $953.569 billion. This means 22.31 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it sp...
Consumer Price Index Surged to 3.81 Percent in April, Highest Rate in Nearly Three Years
The headline Consumer Price Index (CPI-U) jumped to 3.81 percent year over year in April, up from 3.26 in March. Core CPI, which excludes food and energy, was 2.75 percent year over year, compared to 2.60 percent in March. Year over year, energy price inflation was 17.87 percent, 21.61 percentage po...
115K Jobs Added in April, Blowing Past Expectations
In April, 115,000 jobs were added (123K private sector, -8K government) after a stronger showing in March. The unemployment rate remained unchanged at 4.3 percent while the labor force participation rate dropped again by 0.1 percentage points from 62 percent to 61.8 percent. The broadest measure of ...
National Debt Reaches $38.91 Trillion, Increased $2.70 Trillion Year over Year, Increased $10.75 Trillion in Five Years
As of May 5, 2026, total gross national debt is $38.91 trillion. Relative to one year ago, total gross national debt is $2.70 trillion higher; relative to five years ago, it is $10.75 trillion higher. Over the past year, the rate of increase averaged $7.39 billion per day, $307.98 million per hour, ...
March State Unemployment Remained Unchanged in 27 States, Decreased in 14, and Increased in 10
WASHINGTON, DC – Today, the Joint Economic Committee released its monthly State Employment Update, outlining the employment situation in all 50 states and the District of Columbia. In March, among the 50 states and the District of Columbia unemployment remained unchanged in 27, decreased in 14, and ...
Trade Gap Widens, Ends March 3 Percent Above 12-Month Average
The total trade deficit in March was $60.3 billion, up $2.53 billion from February and 3 percent above the 12-month average. In trade of goods, the U.S. ran a trade deficit of $88.71 billion, up $4.09 billion from February and 3 percent above the 12-month average. In trade of services, the U.S. ran...
Personal Income Up 0.56% in March, PCE Up 3.50% from Last Year
From February to March, headline personal consumption expenditures (PCE) price index inflation was 0.66 percent. Core PCE price index inflation, which excludes food and energy prices, was 0.29 percent. In the same period, spending increased while savings decreased. Real PCE increased by 0.24 percent...
February State Unemployment Remained Unchanged in 24 States, Decreased in 9, Increased in 18
In February, among all 50 states and D.C., the unemployment rate fell in 9, rose in 18, and remained unchanged in 24. The highest unemployment rate was 6.5 percent in District of Columbia, and the lowest was 2.3 percent in Hawaii and South Dakota. Nationally, the unemployment rate fell by 0.1 percen...
JEC Chairman Proposes Path to Combat Home Health Fraud, Issues Brief Outlining Vast Spending Increases in Medicaid
Today, Rep. David Schweikert, Chairman of the Joint Economic Committee and Chairman of the House Ways and Means Oversight Subcommittee, announced he has filed legislation to combat home health fraud. The Combating Deceptive Practices in Assistance Programs Act would tighten requirements for an indiv...