August Trade Gap Drops to $59.6 Billion, Down from $78.2 Billion in July
The August trade deficit of $59.55 billion is 32 percent below the 12-month average and down from $78.2 billion in July. It is significantly lower than the peak of $136.42 billion in March 2025.
ICYMI: Joint Economic Committee Hearing: Frontier Technologies, Industrial Efficiency, and Pro-Innovation Policies
On November 18, 2025, the U.S. Congress Joint Economic Committee held a hearing titled Frontier Technologies, Industrial Efficiency, and Pro-Innovation Policies. Members engaged with witnesses on how we may increase labor productivity through technological advances, including how the technology itse...
Jobs Up, Unemployment Rate and Participation Rate Relatively Unchanged
In the latest Joint Economic Committee Employment Update, jobs increased by 119,000 in September, more than expected and a much-needed boost after an abysmal report in August that revised numbers showed a loss of 4,000 after an initial estimate of only a 22,000 increase. The unemployment rate remain...
Joint Economic Committee Hearing: Frontier Technologies, Industrial Efficiency, and Pro-Innovation Policies
The U.S. Congress Joint Economic Committee (JEC) will hold a hearing on Tuesday, November 18 at 2:30pmET in 216 Hart Senate Office Building. The hearing, entitled Frontier Technologies, Industrial Efficiency, and Pro-Innovation Policies, will touch on how we may increase labor productivity through t...
National Debt Hits $38.09 Trillion, Increased $2.18 Trillion Year over Year, $5.97 Billion Per Day
As of November 6, 2025, total gross national debt is $38.09 trillion, which is $2.18 trillion higher than one year ago and $10.89 trillion higher than five years ago. Also, over the past year, the rate of increase averaged $5.97 billion per day, $248.91 million per hour, $4.15 million per minute, or...
Joint Economic Committee Finds Biden's COVID Premium Subsidies Led to Financial Boom for Insurers while providing Limited Reduction in Consumer Costs
Joint Economic Committee Finds Biden’s COVID Premium Subsidies Outlived Intended Temporary Purpose. The JEC's latest brief, Long Overdue: Enhanced Premium Tax Credits Should Expire, finds that the Biden COVID premium subsidies (enhanced premium tax credits) have not only outlived their intended temp...
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...