State Inflation Data: Families’ Costs Rose $700 More Under Biden Than Over the Same Period Under Trump
New JEC Republican state-level analysis finds families experienced much smaller cost increases during the first year of the Trump Administration.
December State Unemployment Remained Unchanged in 22 States, Decreased in 8, Increased in 21
In December, among the 50 states and the District of Columbia, unemployment fell in 8 States, rose in 21, and remained unchanged in 22. The highest unemployment rate was 6.7 percent in the District of Columbia, and the lowest was 2.2 percent in Hawaii and South Dakota.
Personal Income Up 0.3% in November, PCE Up 2.77% from Last Year
Joint Economic Committee released its Monthly Expenditures Update including both October and November data, which replaced releases originally impacted by the lapse in appropriations. From October 2025 to November 2025, headline personal consumption expenditures (PCE) price index inflation was 0.21 ...
December Closes with $144.75 Billion Deficit, Up to $602.38 Billion Deficit for FY2026
In December, the federal government ran a deficit of $144.749 billion. From the beginning of the fiscal year to December, deficits were $602.38 billion. This means 32.97 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it sp...
December Closes with $144.75 Billion Deficit, Up to $602.38 Billion Deficit for FY2026
In December, the federal government ran a deficit of $144.749 billion. From the beginning of the fiscal year to December, deficits were $602.38 billion. This means 32.97 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 Inflation Holds Steady, Ends December at 2.68 Percent
The headline Consumer Price Index (CPI-U) remained relatively steady ending at 2.68 percent year over year in December, meeting expectations. Core CPI, which excludes food and energy, was 2.64 percent year over year, compared to 2.63 percent in November.
December Unemployment Dropped Slightly to 4.4%, 50,000 Jobs added in December, Participation Rate Unchanged
In December, 50,000 jobs were added (+37K private sector jobs, and +13K government jobs), slightly down from the 56,000 added in November and lower than the expected 73,000. The unemployment rate still dropped slightly to 4.4 percent down from 4.5 percent in November. Revised numbers from November s...
National Debt Hits $38.43 Trillion, Increased $2.25 Trillion Year over Year, $8.03 Billion Per Day
As of January 7, 2026, total gross national debt is $38.43 trillion. Relative to one year ago, total gross national debt is $2.25 trillion higher; relative to five years ago, it is $10.73 trillion higher. Over the past year, the rate of increase averaged $8.03 billion per day, $334.48 million per ho...
Stop Paying More for Less: Realigning Healthcare Incentives to Improve Outcomes and Reduce Costs
On December 17, 2025, the U.S. Congress Joint Economic Committee held a hearing titled?Stop Paying More for Less: Realigning Healthcare Incentives to Improve Outcomes and Reduce Costs. Members engaged with witnesses on how contemporary debates surrounding healthcare have been primarily focused on th...
Consumer Price Index Inflation Drops to 2.74 Percent, Lowest Since July
The Joint Economic Committee released its Monthly Inflation Update for November. The headline Consumer Price Index (CPI-U) inflation fell to 2.74 percent year over year in November, below expectations of 3.0 percent. This is the biggest drop in U.S. inflation since March 2025. Core CPI, which exclud...