Economy articles
How much US government debt is owned by other countries?
As of June 2026, about 23.6% of US government debt, or $9.3T, is owned by other countries. When the federal government spends more money than it collects in revenue, it sells US Treasury securities to bring in cash and pay for the difference. People, governments, corporations, and investment funds like retirement accounts — both US and international — can purchase these.
Who does the US trade with?
Mexico, Canada, and China were the US’ top trading partners in 2025, when combining total imports and exports. The US has trade relations with over 200 countries, territories, and regional associations.
What is the federal government's budget deficit?
The federal government’s fiscal year (FY) 2026 budget deficit is about $1.8 trillion as of July. A budget deficit occurs when the federal government spends more money than it brings in through taxes, customs duties, the sale of assets, and other revenues. When the government has a deficit, it borrows money by selling bonds and other securities in order to pay for it, adding to the national debt. A budget surplus, on the other hand, occurs when the government brings in more money than it spends.
What is the average price of beef in the US?
As of May 2026, the average price of ground beef nationwide was $6.75 per pound. This figure comes from the Bureau of Labor Statistics' (BLS) Average Price data, which tracks the cost of specific items commonly purchased by US households. BLS also tracks broader categories containing many products through the Consumer Price Index (CPI). The CPI category "beef and veal," which includes ground beef along with steaks, roasts, and other cuts, rose 12.9% over the past 12 months.
What is the value of US trade overall?
The US imported $4.36 trillion and exported $3.43 trillion in goods and services in 2025. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation
US-Canada trade history in six charts
Tariff increases by the US and Canada in 2026 have intensified trade tensions between two of North America's largest trading partners.
What is the labor force participation rate in the US?
The US labor force participation rate was 61.4% in July 2026. The labor force participation rate measures the percent of people ages 16 and older engaged in the labor market, including those who are working or who are unemployed but actively looking for a job.
Just the Facts on federal taxes
The federal government collected $4.9 trillion in revenue in 2024, 99% of which came from taxes. How much does the average American pay? And who pays the most?
Just the Facts on US trading partners, imports and exports, and tariffs
In 2024, the US imported $4.1 trillion and exported $3.2 trillion in goods and services. Higher tariffs can raise prices and the impact on US jobs is a complex issue. Join Steve as he talks through US trade, tariffs and their impact, US trade partners, trade agreements, and more.
Just the Facts on the Federal Reserve
The Federal Reserve may be the most important bank you never use. But why is it called a “bank”, how is it governed, and how does it influence daily life in the US? In this episode of Just the Facts, Steve Ballmer tells you everything you need to know about the Federal Reserve Bank of the United States.
Just the Facts on oil prices
Why do geopolitical tensions with Iran have such a large impact on how much everyday Americans pay for gas at the pump? And why are we seeing oil prices rise when the US is such a large producer of oil? Oil is a global market, so if supply is threatened anywhere, prices can rise everywhere — including at your local gas station.
Just the Facts on donor and recipient states
Every year, the federal government collects trillions of dollars in taxes from individuals and businesses across all 50 states. But does your state get that money back? Or does it send more than it receives?
How many civilian jobs are in the US federal government?
There are about 2.68 million civilian jobs in the federal government as of July 2026. Federal jobs include all jobs ranging from janitors to air traffic controllers to nurses to postal workers and more. (Enlisted service people are considered government employees but aren’t included in this figure because they’re not civilians.) Out of the 158.9 million nonfarm jobs in the US, 1.7% are in the federal government, the nation’s largest employer. Another way to look at it: The federal government is responsible for one in every 60 jobs.
How many jobs were lost in the US last month?
In July 2026, about 23,000 jobs were lost. That's below the monthly average of 201,600 new jobs of the previous five years. This data comes from the Bureau of Labor Statistics' monthly Employment Situation Report, aka the “jobs report,” a closely watched economic indicator. These figures are often revised in later months as more complete data rolls in.
Are wages keeping up with inflation?
Yes. From July 2025 to July 2026, wages grew 0.09 percentage points faster than inflation. Nominal wages — the literal dollars earned regardless of cost of living — increased by 3.5% while inflation stood at 3.4%. When wage growth outpaces inflation, it indicates that workers are experiencing an increase in purchasing power from the previous year.
How much debt does the average person in the US owe?
Americans owe $63,500 in debt on average, as of the second quarter of 2026. Compared to the previous quarter (January through March 2026), the average adult owed $1,400 less after adjusting for inflation, reflecting slight shifts in household borrowing patterns. This debt, often referred to as “household debt,” represents the total amount owed by individuals for obligations such as mortgages, student loans, credit cards, and auto loans.
How much revenue does the federal government collect from tariffs?
The federal government collected $194.9 billion in revenues from tariffs in FY 2025. This figure reflects revenue from tariffs and other import-related fees, also known as customs duties. Customs duties are taxes and fees paid by US importers and collected by US Customs and Border Protection on goods imported into the country, which generate revenue for the federal government.
How much debt does the US have?
The US has $39.8 trillion in debt as of July 2026. The federal government borrows money when its spending and investments cannot be funded by federal revenue alone; this debt enables the government to pay for programs and services when funds aren’t immediately available.
What is this year’s Social Security cost of living increase?
In December 2025, the average monthly Social Security benefit was $1,923, which increased by 2.8% in 2026 after the cost-of-living adjustment.
How active has the 2026 hurricane season been?
As of August 17, there have been three tropical storms and zero hurricanes in 2026. In the Atlantic Ocean, tropical storms and hurricanes are the most dangerous designations of storms that are collectively known as tropical cyclones. The average number of such storms per year for the prior decade (2016 to 2025) was 18. That’s the highest 10-year average on record, based on National Oceanic and Atmospheric Administration (NOAA) data dating back to 1851.