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…
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…
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.
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…
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…
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.
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.
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.
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.
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…
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 Led to Financial Boom for Ins – Joint Economic Committee (.gov)
