Joint Economic Committee Republicans

“Reforming Medicare Advantage allows us to protect seniors and the benefits they have earned while strengthening Medicare’s future,” said JEC Chairman David Schweikert. “Making these necessary reforms would cut federal spending by $1.8 trillion over 10 years while lowering Medicare premiums so seniors can keep more of their hard-earned money. With a soaring national debt and continued affordability challenges, we have a responsibility to lower costs, reduce taxpayer spending, and put Medicare on a more fiscally responsible path. I ask my colleagues to join me in making these critical reforms to protect seniors today and preserve Medicare for generations to come.” jec.senate.gov/public/index.c…

As of November 4, 2026, total gross national debt is $40.55 trillion. Relative to one year ago, total gross national debt is $2.46 trillion higher; relative to five years ago, it is $11.64 trillion higher. Over the past year, the rate of increase averaged $6.75 billion per day, $281.45 million per hour, $4.69 million per minute, or $78,179.17 per second. The increase in gross national debt over the past year amounts to $7,190.37 per person or $18,240.99 per household. Total gross national debt amounts to $118,587 per person or $300,840 per household. jec.senate.gov/public/index.c…

In October, jobs increased by 165,000 jobs (+159K private sector, +6K government), blowing past expectations of 59,000. At the same time, the unemployment rate ticked down slightly from 4.2percent to 4.1 percent, while the labor force participation rate ticked up by 0.1 percentage points to 61.9 percent. The broadest measure of unemployment (U-6, which adds underemployment to unemployment) increased by 0.3 percentage points to 7.9 percent. jec.senate.gov/public/index.c…

The total trade deficit in September was $105.05 billion, down from $690 million in August and 50 percent above the 12-month average. In trade of goods, the U.S. ran a trade deficit of $135.91 billion, down $716 million from August and 36 percent above the 12-month average. In trade of services, the U.S. ran a trade surplus of $30.86 billion, down $26 million from August and 3 percent above the 12-month average. jec.senate.gov/public/index.c…

Q3 GDP Increased and Better than Expected, September Inflation Up, Disposable Income Down. From August to September, headline personal consumption expenditures (PCE) price index inflation was 0.49 percent. Real GDP growth from 2026 Q2 to 2026 Q3 increased by 3.37 percent, up from the 2.22 percent in the second quarter. jec.senate.gov/public/index.c…