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, ...
Inflation Increased Slightly While Real Wages Decreased Marginally
Over the past year (August 2024 to August 2025), the consumer price index rose 2.92 percent, increasing by 0.39 percentage points. Month-over-month it increased by 0.18 percentage points ending August 0.38 percent higher. Real average weekly earnings over the month (July 2025-August 2025) decreased ...
Gross National Debt Reaches $37.43 Trillion, Increased $2.09 Trillion in 12 Months
Today, the Joint Economic Committee released its monthly debt update. As of September 4, total gross national debt is $37.43 trillion. Relative to one year ago, total gross national debt is $2.09 trillion higher; compared to five years ago, it is $10.73 trillion higher.
Economy Continues to Slow as August Produces only 22K Jobs
In the latest Joint Economic Committee Employment Update, jobs increased by 22,000 in August, indicating the economy continued to slow through the summer. The unemployment rate remained relatively steady, ticking up 0.1 percentage points to 4.3 percent, and the labor force participation rates ticked...
Trade Gap Widens to $78.3 Billion, Largest U.S. Trade Deficit Since March 2025
Today, the Joint Economic Committee released its analysis of the latest monthly trade update based on information compiled from the Bureau of Economic Analysis, U.S. Census Bureau, Treasury Department, and the Bureau of Labor Statistics. The July trade deficit of $78.3 billion is the largest since M...
Chairman Schweikert Highlights the Importance of Maintaining Reliability of Data Collection
Joint Economic Committee Chairman David Schweikert released a brief entitled “Maintaining Reliability of America’s Data Collection Methods.”
Chairman Schweikert on National Debt Surpassing $37 Trillion
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 $37 trillion.
ICYMI: JEC Hearing on the Barriers to Supply Chain Modernization and Factor Productivity Enhancement
Last week the U.S. Congress Joint Economic Committee held a hearing titled Barriers to Supply Chain Modernization and Factor Productivity Enhancement. Members engaged with witnesses on how “smart regulation” and harnessing cutting-edge technology can be prioritized to enhance America’s supply chain ...
JEC Hearing Advisory, "Barriers to Supply Chain Modernization and Factor Productivity Enhancement"
The U.S. Congress Joint Economic Committee (JEC) will hold a hearing on Thursday, June 5th at 10:00am titled "Barriers to Supply Chain Modernization and Factor Productivity Enhancements."