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Currently showing results related to Economy
Congressional Budget Office Updates Baseline: Deficit Totals to Third Highest in American History
WASHINGTON, D.C. - Last week, the Congressional Budget Office (CBO) released its updated budget projections for fiscal years (FY) 2025-2035. CBO’s report helps Congress understand the fiscal and economic challenges facing the country. Topline Takeaways from CBO's Updated Baseline: CBO now projects that deficit spending for FY25 will reach a staggering $1.9 trillion, the third-highest figure in American history. The FY 2025 deficit amounts to 6.2 percent of GDP (the 50-year average is 3.8 … Continue Reading
December 12, 2024
Fiscal Accountability Measures: House Budget Committee Hearing Examines Pathways to Reverse Looming U.S. Fiscal Crisis
WASHINGTON, D.C. - Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) and members of the Committee held a hearing entitled “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis” to examine the sweeping implications of our nation’s $36 trillion dollar national debt while exploring reform proposals designed to combat a looming U.S. fiscal crisis. Find some key moments from the hearing below: Chairman Jodey Arrington (R-TX): Click HERE to watch … Continue Reading
December 11, 2024
Chairman Arrington Delivers Opening Remarks at Hearing Entitled “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis”
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) delivered opening remarks at the hearing “Sounding the Alarm: Pathways and Possible Solutions to the U.S. Fiscal Crisis.” Click HERE to watch Chairman Arrington’s Opening Remarks Opening Statement as Delivered: “We've got major fiscal problems and a completely unsustainable fiscal trajectory. I haven't heard anyone, Democrat or Republican, witness or member, that doesn't accept that fact. We won't know when … Continue Reading
November 27, 2024
Bureau of Economic Analysis: GDP Growth for Q3 at 2.8 Percent
WASHINGTON, D.C. - Today, the Bureau of Economic Analysis (BEA) released its second estimate for economic growth in the third quarter (Q3) of 2024. The report found that real U.S. Gross Domestic Product (GDP) grew at an annual rate of 2.8 percent in the third quarter. Chairman Arrington's Statement on GDP Growth: House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement on GDP growth for Q3 2024: “While growth is improving, we must keep an eye on inflation - … Continue Reading
November 26, 2024
Consumer Confidence: Chairman Arrington Statement on November Report
WASHINGTON, D.C. - Today, The Conference Board released its report on the Consumer Confidence Index for November 2024. The report showed that overall consumer sentiment ticked up in November, showing that as a second Trump Presidency comes into focus, hope for the future rises. Chairman Arrington on Consumer Confidence: House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement on Consumer Confidence for November: “Americans’ confidence in their economic future … Continue Reading
November 01, 2024
Employment Situation: Chairman Arrington Statement on October Jobs Report
WASHINGTON, D.C. - Today, the Bureau of Labor Statistics (BLS) released its jobs report for October 2024, which showed 12,000 new jobs were created in October. Chairman Arrington's Statement on the October Jobs Report: House Budget Committee Chairman Jodey Arrington (R-TX) responds to the October jobs numbers: "This is a very disappointing report - as many expected, job growth declined significantly. While some of this is due to the Boeing strike and hurricanes, there’s more to the story. … Continue Reading
October 31, 2024
Chairman Arrington Joins Coast to Coast to Discuss Recent Economic Reports and the Tax Cuts and Jobs Act Expiring
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined Neil Cavuto’s Coast to Coast on Fox Business with guest host David Asman to discuss rooting out wasteful spending, extending the Tax Cuts and Jobs Act, and more. Watch Chairman Arrington’s full interview on Fox Business HERE. Find highlights of key moments below: Chairman Arrington on Rooting out Wasteful Spending: “We're paying tens of billions in social services to people who are here illegally. … Continue Reading
October 30, 2024
Bureau of Economic Analysis: GDP Growth for Q3 at 2.8 Percent
WASHINGTON, D.C. - Today, the Bureau of Economic Analysis (BEA) released its first estimate for economic growth in the third quarter (Q3) of 2024. The report found that real U.S. Gross Domestic Product (GDP) grew by 2.8 percent. Chairman Arrington's Statement on GDP Growth: House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement on GDP growth for Q3 2024: “As Americans continue struggling to make ends meet, it is clear that the Biden-Harris failed tax and … Continue Reading
October 23, 2024
The Conference Board Leading Economic Index: Chairman Arrington Statement on September Report
WASHINGTON, D.C. - Earlier this week, The Conference Board released its Leading Economic Index (LEI) report for September 2024. The report showed that the LEI for the U.S. declined by 0.5 percent, to 99.7, following a 0.3 percent decline in August. These declines are part of a disturbing, yearlong pattern. The LEI fell 2.6 percent over the most recent six-month period, between March and September 2024, which followed a 2.2 percent drop during the previous six-month period (September 2023 to … Continue Reading
October 10, 2024
Chairman Arrington Joins Kudlow on Fox Business to Discuss Offsetting the $1.8 Trillion Deficit and Reining in Out-of-Control Spending
WASHINGTON, D.C. - Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) joined Larry Kudlow and chief economist at America First Policy Institute (AFPI) Michael Faulkender to talk about President Trump’s economic plan, balancing the budget, and the Biden-Harris’s failed economic policies. Watch Chairman Arrington’s full interview on Fox Business HERE.Find highlights of key moments below: Chairman Arrington on President Trump's Economic Plan: “We have a blueprint to put the … Continue Reading
October 09, 2024
Chairman Arrington Joins Squawk Box to Sound the Alarm on America’s $1.8 Trillion Budget Deficit
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined “Squawk Box” on CNBC to sound the alarm on America’s unsustainable $1.8 trillion budget deficit, discuss the challenge the government faces in reducing wasteful spending, and stress the dire need for President Trump’s proposed government efficiency commission. Watch Chairman Arrington’s full interview on CNBC HERE. Find highlights of key moments below: Chairman Arrington on the Deficit: "At some … Continue Reading
September 24, 2024
Consumer Confidence: Chairman Arrington Statement on September Report
WASHINGTON, D.C. - Today, The Conference Board released its report on the Consumer Confidence Index for September 2024. The report showed that overall consumer sentiment declined sharply in September to 98.7 from an upwardly revised 105.6 in August, demonstrating that Americans continue to worry about their financial futures. This was the largest decline in Consumer Confidence since August 2021. Consumer Confidence remains well below pre-Covid levels. Chairman Arrington on Consumer … Continue Reading
September 19, 2024
Chairman Arrington Joins Mornings with Maria to Discuss the Biden-Harris Failed Economic and Energy Agenda
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined “Mornings with Maria” on Fox Business to preview the House Budget Committee’s hearing entitled “The Cost of the Biden-Harris Energy Crisis” and this Administration’s failed economic agenda. Watch Chairman Arrington’s full interview on Fox Business HERE. Find highlights of key moments below: Chairman Arrington on Kamala Harris's Economic Agenda: "I'm scared to death that we would give control over … Continue Reading
September 18, 2024
Chairman Arrington Statement on Federal Reserve Interest Rate Cut
WASHINGTON, D.C. - Today, the Federal Open Market Committee (FOMC), the Federal Reserve's (Fed) committee that decides the future path of interest rates, announced a 0.5 point reduction in the federal funds rate. Chairman Arrington on Our Current Economic State: House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement on our current economic state: “The Federal Reserve’s activist monetary policies along with the Biden-Harris’ reckless spending were the Molotov … Continue Reading
September 10, 2024
KAMALANOMICS: What Does Vice President Kamala Harris Truly Believe?
WASHINGTON, D.C. - During her tenure as a United States Senator, Kamala Harris supported and advocated for the implementation of economic policies that would decimate America’s workforce and torpedo the economy. Fast forward to the recently unveiled Harris-Waltz economic proposal, Vice President Harris continues to advocate in favor of policies that would further stifle American prosperity. The Penn Wharton Budget Model analyzed the Harris-Walz economic plan and reported some alarming … Continue Reading
September 06, 2024
Employment Situation: Chairman Arrington Statement on August Jobs Report
WASHINGTON, D.C. - Today, the Bureau of Labor Statistics (BLS) released its jobs report for August 2024, which showed 142,000 new jobs were created in August. Chairman Arrington's Statement on August Jobs Report: House Budget Committee Chairman Jodey Arrington (R-TX) responds to the August jobs numbers: “The Biden-Harris Administration’s tax-and-spend policies have unleashed widespread economic pain throughout our nation, with stubborn inflation and stagnant job growth continuing to plague … Continue Reading
August 27, 2024
Consumer Confidence: Chairman Arrington Statement on August Report
WASHINGTON, D.C. - Today, The Conference Board released its report on the Consumer Confidence Index for August 2024. The report showed that while overall consumer confidence rose, it remained within the narrow range consistent with the past two years. Uneasy markets, continued high interest rates, and stubbornly high prices continue to cloud Americans’ economic futures. Chairman Arrington on Consumer Confidence: House Budget Committee Chairman Jodey Arrington (R-TX) released the following … Continue Reading
August 21, 2024
Chairman Arrington Joins Kudlow on Fox Business to Discuss the Effects of Kamalanomics on Middle-Class Working Families
WASHINGTON, D.C. - Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) joined Kudlow guest host David Asman and author and economist Steve Moore to talk about the continued effects of Kamalanomics and the weight middle-class Americans have to burden under the Biden-Harris economy. Watch Chairman Arrington’s full interview on Fox Business HERE.Find highlights of key moments below: Chairman Arrington on AOC Claiming Harris is a Middle-Class Champion: “She’s the chief … Continue Reading
August 21, 2024
818,000 Fewer Jobs Added to the Economy than Previously Reported
WASHINGTON, D.C. - Today, the Bureau of Labor Statistics (BLS) released its preliminary annual benchmark review of employment data for March 2024. BLS found that there were 818,000 fewer jobs than previously reported. Chairman Arrington Statement: "Based on more comprehensive data released from state unemployment tax records, the Biden Bureau of Labor Statistics acknowledges they were way off on the number of new jobs created between March of 2023 and March of 2024 by almost one million or … Continue Reading
August 17, 2024
Chairman Arrington Joins Kudlow on Fox Business to Discuss the Effects of the Democrats’ ‘Inflation Reduction Act’
WASHINGTON, D.C. - Yesterday, House Budget Committee Chairman Jodey Arrington (R-TX) joined Larry Kudlow’s Show on Fox Business to talk about the damaging effects of the Democrats’ so-called ‘Inflation Reduction Act’ (IRA) and how to rein in the federal government’s wasteful spending. Watch Chairman Arrington’s full interview on Fox Business HERE.Find highlights of key moments below: Chairman Arrington on Effects from Inflation Reduction Act: "Let’s [Biden-Harris Administration] put the … Continue Reading
