WASHINGTON, D.C. — Joint Economic Committee Chairman David Schweikert (R-AZ-01) filed the Joint Economic Report in response to the 2025 Economic Report of the President. 

“At the core of these five chapters lies a critical truth: the prosperity of our nation is on borrowed time,” said Chairman Schweikert. “As every dollar Congress votes on is borrowed, we must exercise the intellectual resolve to confront the looming fiscal crisis. Stopping excessive spending is necessary to ensure future generations of Americans are not burdened by our current disregard. It’s time to implement economic policy that cements American prosperity into the next century and beyond.” 

Background: The Republican section of the 2025 Joint Economic Report outlines its findings and recommendations in five key chapters. 

• Chapter 1: The U.S. Must Address its Growing Deficits
  • Highlights the urgency of confronting the nation’s escalating fiscal shortfall and identifies demographic shifts as a key underlying challenge.
  • Recommends reducing expenditures and improving efficiency as the most responsible path towards fiscal solvency.
    
    

• Chapter 2: The Arrogance of Industrial Policy
  • Examines the resurgence of subsidies and tax incentives to policy discourse.
  • Advocates for eliminating existing barriers to production and halting wasteful transfers enacted by the previous administration, which have led to worse outcomes.
    
    

• Chapter 3: The Threat of Rising Interest Rate Sensitivity
  • Details the severe risks posed by rising interest rates as the nation’s debt levels climb.
  • Emphasizes the urgency of taking corrective action to prevent a catastrophic debt spiral. 
    
    

• Chapter 4: An Update on Obesity Trends
  • Expands on the 2024 Republican Response, which identified obesity as a significant drag on the U.S. economy.
  • Provides updated data and examines the impact of emerging anti-obesity medications on national health trends – while emphasizing that substantial challenges remain.
    
    

• Chapter 5: The Economics of Skilled and Unskilled Migration
  • Assesses the disparate economic impact of skill-based immigration on the U.S. economy.
  • Highlights how high-skilled immigrants contribute more to economic growth, while also addressing the challenges posed by the unprecedented surge of low-skilled illegal immigration.
    
    

The Republican section of the 2025 Joint Economic Report can be found here.
The 2025 Joint Economic Report can be found here. 
The 2025 Economic Report of the President can be found here.

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