In case you haven’t seen, we’ve rebranded our Joint Economic Committee Republicans website! Check out our new design and be sure to catch up on our latest work below 👇 jec.senate.gov/public/index.c…

The national debt is within $12 billion of eclipsing $35 trillion for the first time. While Washington continues its wasteful spending spree, hardworking families are being left behind & future generations are saddled with crushing debt. We must correct our fiscal trajectory.

In June, headline PCE rose 0.08% and core PCE rose 0.18%. This brings year-over-year headline PCE to 2.51% and core PCE to 2.63%. Read more in our Republican Staff Commentary ⬇️

In the Q2 2024 GDP advanced estimate; real GDP increased at an annualized rate of 2.8% and nominal GDP increased $360 billion to $28.63 trillion, the current size of the U.S. economy. Read more in our Republican Staff Commentary ⬇️

While there was strong economic growth in the Q2 2024 advanced estimate — even outpacing quarterly increases to total public debt for the first time since Q1 2023 — total public debt has STILL outpaced the economy by $933 BILLION over the past four quarters.

Today, the national debt eclipsed $35 trillion for the first time — a grim milestone. Our children & grandchildren deserve a fighting chance to grow up in a prosperous society. Each day we refuse to change our fiscal trajectory, we're keeping that opportunity away from them.

A disappointing July jobs report. Just 114,000 jobs added, well below the 175,000 expected job gains. Unemployment up 4.3% — the highest in nearly three years. The Biden-Harris admin’s economic policies are putting American workers further behind. bloomberg.com/news/live-blog…

NEW Joint Economic Committee Republicans Monthly Debt Update: State of the National Debt: Total gross national debt has risen by $2.45 trillion in the past year #DebtCrisis An average increase of: 🚩 $6.73 billion per day 🚩 $4.67 million per minute 🚩 $77,837 per second tinyurl.com/bdft8vv9

Gross interest costs have only continued to rise under the Biden-Harris administration. Through the first 10 months of FY24, interest costs have nearly exceeded $1 trillion. At this rate, we’ll end FY24 paying $1.15 trillion on interest on the national debt alone. Stunning.

Families are being forced to pay more for back-to-school supplies than ever before under the Biden-Harris administration. Back-to-school purchases are projected to reach $125.4 billion in 2024 — the second highest total in history behind last year’s record $135.5 billion.

It's no wonder that consumers have declining confidence in President Biden and Vice President Harris to improve their financial standing after 3.5 years of economic calamity. JEC Vice Chair Rep. David Schweikert's full statement on the July inflation report 👇

🚨 Publicly held debt just surpassed $28 trillion for the first time ever. And it will only get dramatically worse if we continue down this fiscally reckless path. Doing nothing is morally reprehensible.

The so-called “Inflation Reduction Act” was signed into law 2 years ago. Now 40% of the largest projects are delayed, on top of JCT doubling their cost estimate. Remember — VP Harris cast the tie-breaking vote for this spending behemoth, exacerbating already-elevated inflation.

Kamalanomics has raised energy prices through the roof. American families are paying astronomically more just to fill up their tanks and keep the lights on at home under the Biden-Harris administration's anti-American energy agenda.

This 818k downward revision in jobs confirms what we’ve known since January 2021: that the U.S. economy is much weaker than President Biden and Vice President Harris have been selling. The Biden-Harris administration has failed the American people. cnbc.com/2024/08/21/non…

📉 Total Jobs: -818K 📉 Professional & Business Services: -358K 📉 Leisure & Hospitality: -150K 📉 Manufacturing: -115K All part of the largest BLS downward revision in 15 years. Clearly, Kamalanomics isn’t performing as well as Vice President Kamala Harris wants Americans to believe.

It isn’t hard to see why so many Americans have a negative view of the U.S. economy. The nominal personal savings rate fell to 2.9% in July, the lowest since June 2022 and the second-lowest level since April 2008 (!) Kamalanomics is forcing Americans to save less.

42 months into the Biden-Harris administration, grocery prices are still stretching Americans' wallets. 🥣 Cereal & Bakery Products ⬆️ 26.0% 🥩 Meats, Poultry, Fish & Eggs ⬆️ 23.0% 🧃 Beverages ⬆️ 22.4% 🧀 Dairy ⬆️ 16.0% 🍎 Fruits & Vegetables ⬆️ 13.2%