Section 01 — Economy
Growth, Jobs & Prices
The world's largest economy at $28.5+ trillion GDP. How it's growing, where jobs stand, and what Americans are paying at the register.
Fresh — GDP: Q2 2026 (2nd est.) · Unemployment: Aug 2026 · CPI: Jul 2026
Source: BEA · BLS · Federal Reserve · bea.gov · bls.gov
GDP Growth Q2 2026
1.5%
Annualized real GDP growth in Q2 2026 — BEA second estimate, unchanged from the advance estimate. A slowdown from Q1's 2.1%. GDP price index rose 5.8% and PCE prices rose 5.3%, reflecting the energy-driven inflation spike that hit mid-2026.
↓ Slower than Q1's 2.1% · BEA Second Estimate Aug 2026
Q2 2026's 1.5% growth was fueled by consumer spending, exports and investment, partly offset by a decrease in government spending; imports also rose. Real final sales to private domestic purchasers — a measure of underlying demand excluding inventories and trade — expanded at a much stronger 4.2%, suggesting resilient private-sector demand beneath a headline number dragged down by the government-spending pullback and a wider trade gap.BEA GDP Second Estimate Q2 2026 (Aug 2026) · BEA News Release
The slowdown from Q1's 2.1% to Q2's 1.5% coincided with the Iran-conflict energy price shock that pushed CPI to 4.2% in May before it began cooling. The GDP price index increase of 5.8% in Q2 reflects how much of nominal growth was actually inflation rather than real output. The Federal Reserve's decision to hike rates in September 2026 — its first hike since 2023 — reflects concern that above-target inflation, even as it moderates, could become entrenched if growth re-accelerates.BEA GDP Second Estimate and Corporate Profits Q2 2026 · Federal Reserve FOMC Statement Sep 16, 2026
Unemployment Aug 2026
4.1%
Official U-3 rate, down slightly from June's 4.2%. Nonfarm payrolls added +162,000 jobs in August — a pickup from the weak spring readings. U-6 "real" unemployment remains elevated near 7.8%. Median weekly earnings continue to track modestly above CPI.
↔ Modest improvement · BLS Employment Situation Sep 4, 2026
August's +162,000 payroll gain was the strongest monthly reading since early 2026, a welcome rebound after June's weak +57,000. The gap between the official U-3 (4.1%) and the broader U-6 (~7.8%) remains wide by historical standards — U-6 includes discouraged workers and involuntary part-timers. Job growth for 2026 overall has still averaged below the 2024 pace, even with August's improvement.BLS Employment Situation Aug 2026 (Sep 4, 2026) · BLS Alternative Measures Table A-15
The improvement in August came even as the Federal Reserve moved to hike rates in September, a sign policymakers judged the labor market resilient enough to tolerate tighter policy aimed at the inflation problem. Economists caution that a single month's payroll gain, especially after heavy downward revisions earlier in the year, should be read cautiously — the Fed's own forecasters still see unemployment drifting modestly higher into 2027 as the rate hike works through the economy.BLS Employment Situation Aug 2026 · Federal Reserve FOMC Statement Sep 16, 2026 · Center for American Progress 2026 Job Growth Analysis
CPI Inflation Jul 2026
3.4%
Down significantly from May's 4.2% peak as energy prices fell back from their Iran-conflict spike. Gasoline prices declined month-over-month. Core CPI (ex-food & energy) remains stickier than the headline figure. Still above the Fed's 2% target for a sixth straight year.
▼ Cooling from May's 4.2% peak · BLS CPI Release Aug 12, 2026
The July 2026 CPI print of 3.4% year-over-year marked a welcome retreat from the 4.2% peak hit in May, as the Iran-conflict-driven spike in energy prices began to unwind — gasoline prices fell on a monthly basis for the first time since the shock began. This cooling gave the Federal Reserve more room to maneuver, though the September decision to hike rather than cut reflected lingering concern that core inflation, excluding the volatile energy component, had not fallen as quickly.BLS Consumer Price Index News Release, 2026 M07 Results (Aug 12, 2026) · BLS "Consumer prices up 3.4 over the year in July 2026"
Even at 3.4%, July 2026 marks the sixth consecutive year the Fed has missed its 2% target. New Fed Chair Kevin Warsh's FOMC voted on September 16, 2026 to raise the federal funds rate to 3.75–4.00% — the Fed's first hike since 2023 — citing the need to ensure the spring inflation spike does not become entrenched even as headline CPI cools. Average hourly earnings growth has remained close to the inflation rate, meaning real wage gains stayed modest through the summer.Federal Reserve FOMC Statement and Implementation Note, Sep 16, 2026 · BLS Average Hourly Earnings Aug 2026
Fed Funds Rate Sep 2026
3.75–4.00%
The Federal Reserve raised rates by 25bps at its September 16, 2026 meeting — its first hike since 2023 — after holding steady through H1 2026. New Fed Chair Kevin Warsh cited the need to anchor inflation expectations even as CPI cooled from its spring peak.
▲ First hike since 2023 · Federal Reserve Sep 16, 2026
The Federal Reserve cut rates by 100 basis points total during late 2024 and 2025, bringing the target range down to 3.50–3.75%, then held through the first half of 2026 as inflation re-accelerated to 4.2% in May. With CPI cooling to 3.4% by July, some expected a renewed cut — instead the FOMC hiked 25bps to 3.75–4.00% on September 16, 2026, its first increase since 2023. Chair Kevin Warsh framed the move as insurance against inflation expectations becoming unanchored, echoing the "price stability" language he used earlier in the year. The 10-year Treasury yield rose further on the announcement.Federal Reserve Implementation Note, Sep 16, 2026 · Federal Reserve FOMC Statement Sep 16, 2026 · CNBC Fed Rate Decision Analysis Sep 2026
Trade Deficit Jun 2026
~$59B
Monthly trade deficit widened modestly as imports rose alongside stronger domestic demand noted in the Q2 GDP report. Goods deficit remains the dominant component; services continue to run a surplus. A structural feature of the US economy for over 50 years.
↔ Persistent structural deficit · BEA/Census Jun 2026
Median Weekly Earnings Q2 2026
~$1,245
Full-time wage and salary workers. Up modestly YoY and still running slightly ahead of the now-cooling CPI, providing a small real-wage gain. Over 121 million full-time workers tracked. Source: BLS Q2 2026.
▲ Real wages modestly positive · BLS Median Weekly Earnings Q2 2026
Trade Openness 2024
24.9%
Exports + imports as % of GDP (World Bank 2024). The USA is one of the least trade-open major economies in the world — comparable to India (44.6%) but far below Germany (~70%), UK (~55%), Singapore (325.7%). The US economy is predominantly domestically driven. This insulates from global shocks but also limits growth from trade integration.
↔ Large domestic economy · World Bank 2024
Income Inequality — Gini
39.9
World Bank Gini index — one of the highest among high-income OECD nations. USA is more unequal than UK (35.1), Germany (31.7), Canada (33.3), and Australia (34.3). The top 1% of Americans hold approximately 30% of total wealth. The bottom 50% hold approximately 2.5%. This gap has widened since the 1980s.
▼ Higher than all G7 peers · World Bank / OECD 2024
The USA has the highest income inequality of any G7 nation — higher than UK, France, Germany, Japan, Canada and Italy. The Gini of 39.9 means the US is closer to developing economies than to European peers in terms of income distribution. Key drivers: (1) Winner-take-all labour markets — tech, finance, entertainment pay top earners exponentially more than median workers; (2) Weak union coverage (~10% of workers vs 25%+ in Germany) limits collective bargaining power for lower and middle earners; (3) Healthcare costs — a catastrophic illness can devastate household savings; (4) Education inequality — quality of K-12 education varies enormously by zip code, tied to local property taxes; (5) Racial wealth gap — Black and Hispanic household wealth is approximately 15–20% of white household wealth. The Gini has risen from ~34 in 1980 to ~40 today, reflecting the long-run impact of technology-driven winner-take-all dynamics and policy choices on redistribution.World Bank Poverty and Inequality Platform 2024 · Federal Reserve Survey of Consumer Finances 2023 · OECD Income Distribution Database 2024 · EPI State of Working America 2025
Section 02 — Fiscal Health
The Numbers That Keep Economists Up at Night
$40.2 trillion in debt — crossed the $40T mark in August 2026. $1.9 trillion annual deficit. $1 trillion in interest payments for the first time ever. Social Security depleting by 2032. The fiscal picture — honestly.
Fresh — National Debt: Aug 2026 · Deficit: CBO 2026 · Interest: CBO 2026
Source: CBO · US Treasury Fiscal Data · fiscaldata.treasury.gov · cbo.gov
⚠ US national debt crossed $40 trillion for the first time in August 2026 — more than doubling in a decade. Net interest payments are projected to surpass $1 trillion in FY2026, making interest the third-largest line item in the federal budget, behind only Social Security ($1.46T) and Medicare ($1.05T). Source: Treasury Fiscal Data / CBO, Aug 2026.
🏦 National Debt & Deficit — FY2026
National Debt (Total Public)
As of August 19, 2026 — crossed the $40 trillion threshold for the first time in US history, up roughly 4% from August 2025. Growing at approximately $100,000 per second — or $8.6 billion per day. The debt has grown from $5.7 trillion in 2000 to $40.2 trillion today.
$40.2T
Debt-to-GDP Ratio
Debt held by the public as % of GDP — the most internationally comparable measure. At roughly 123% of GDP (Q1 2026 reading), the US is in historically elevated territory. The previous all-time high was 106% of GDP in 1946, after WWII. CBO projects 120%+ sustained through the late 2020s and 2030s.
~123%
Federal Budget Deficit FY2026
CBO projection for FY2026 (Oct 2025–Sep 2026). The deficit has averaged 3.8% of GDP over the past 50 years — current 5.8% of GDP is significantly above historical norms. The One Big Beautiful Bill Act (OBBBA), signed July 2025, added $4.1 trillion to the 10-year debt projection.
$1.9T
5.8% of GDP
5.8% of GDP
Net Interest Payments FY2026
First time in US history that interest payments exceed $1 trillion annually. In fiscal 2025, interest consumed 13.8% of total government spending. At the current pace the US pays roughly $2.74 billion per day just in interest. By 2036, interest is projected to reach $2.1 trillion — nearly doubling.
$1T+
13.8% of spending
13.8% of spending
Current Account Balance 2025
USA ran a current account deficit of approximately -3.5% of GDP in 2025 — persistent structural deficit reflecting that the US consumes more than it produces domestically. Financed by capital inflows (foreign investors buying US assets — Treasuries, equities, real estate). Sustainable as long as USD remains global reserve currency.
-3.5%
of GDP · IMF WEO 2025
of GDP · IMF WEO 2025
Federal Debt Held by Foreign Entities
Foreign governments and investors hold approximately $8 trillion of US Treasury debt — roughly a fifth of total national debt. Japan and China remain the largest foreign holders. High foreign ownership provides cheap financing but creates a geopolitical vulnerability. Dollar's reserve currency status enables this — no other country could run this deficit.
~$8T
~20% foreign-held
~20% foreign-held
The core problem is structural: the US government spends significantly more than it collects in taxes, every year, and has done so in all but 4 of the last 55 years. Crossing $40 trillion in August 2026 — after passing $39 trillion only months earlier — illustrates how quickly the debt is now compounding, driven both by ongoing deficits and by rising interest costs on existing debt. The CBO projects that under current law, deficits will average 6%+ of GDP over the next decade.USAFacts "How much debt does the US have?" (Aug 2026) · CBO Budget and Economic Outlook 2026–2036
The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, made permanent many tax cuts from the 2017 Tax Cuts and Jobs Act and added new tax cuts. CBO estimates it added $4.1 trillion to the 10-year debt projection. While supporters argue the growth effects will offset some of the cost, CBO's official scoring shows the bill increasing deficits materially. The Supreme Court also ruled some tariff revenues unconstitutional, reducing a key revenue assumption in the projections.CBO Cost Estimate of OBBBA (Public Law 119-21) · Brookings Federal Budget Outlook 2026 · CRFB Debt Analysis 2026
Long-term: CBO projects debt held by the public will continue climbing well past WWII-era highs over coming decades. The Federal Reserve's September 2026 rate hike — its first since 2023 — makes new and rolling-over debt more expensive to service, compounding the interest burden further. The Committee for a Responsible Federal Budget notes that debt dynamics are now potentially "explosive" — the gap between the interest rate on debt and the nominal growth rate is a key variable to watch as rates rise again.CBO Long-Term Budget Outlook 2026 · Federal Reserve FOMC Statement Sep 16, 2026 · CRFB Analysis 2026
⏰ Social Security & Medicare — The Solvency Clock
Social Security OASI Trust Fund Depletion
CBO projects the Old Age and Survivors Insurance trust fund depletes reserves in 2032 — just 6 years away. At that point, under current law, benefits would automatically be cut by approximately 23% for all recipients. Congress has never let Social Security cut benefits — but has also not yet passed a fix.
2032
6 years away
6 years away
Social Security Annual Cash Shortfall
The OASI trust fund already has a $245 billion per year cash shortfall (excluding interest credited from the general fund). This grows to over $500 billion per year after trust fund depletion in 2032. Total Social Security spending: $1.46 trillion in FY2026.
$245B/yr
Medicare Trust Fund
Medicare (HI trust fund) faces a separate solvency issue — depletion projected by early 2030s depending on healthcare cost growth assumptions. Combined Medicare and Medicaid spending: over $1.6 trillion in FY2026 — the single largest category of federal spending.
~2030s
A critical distinction: "trust fund depletion" does not mean Social Security stops paying benefits. It means the dedicated trust fund is exhausted and Social Security can only pay benefits from incoming payroll tax revenue — which is currently insufficient to cover full benefits. The 23% automatic cut under current law would be applied equally to all beneficiaries — retirees, disabled workers, survivors — unless Congress acts. Every year of inaction makes the eventual fix more expensive. The Social Security actuaries estimate that immediate and permanent fixes would require either a 3.4% payroll tax increase or a 21% across-the-board benefit cut — or some combination.CBO Budget Outlook 2026 · Social Security Trustees Report 2025 · SSA Office of Chief Actuary Solvency Analysis
Section 04 — Governance
Institutions, Democracy & Rule of Law
The world's oldest modern democracy. Home to the strongest institutional checks ever designed. Also: ranked 55th in press freedom, 24th in anti-corruption, and navigating unprecedented institutional stress.
Fresh — CPI: Feb 2026 · Press Freedom: Apr 2026 · GE results: Nov 2024
Source: Transparency International · RSF · Freedom House · V-Dem · EAC
EDITORIAL NOTE: Governance data includes both rankings where the US performs well and where it does not. All from independent, internationally recognised bodies. No political judgement from this site.
📊 Governance Rankings
24
of 182
CPI 2025
Corruption
CPI 2025
Corruption
Corruption Perceptions Index 2025 — Rank 24
Transparency International CPI 2025. Score: 67/100. Below Denmark (#1, score 90), New Zealand (#2), Singapore (#3). Above global average (42) but declining from a peak of 76 in 2016. The US has slipped 5 places in the last decade.
▼ Declining trend since 2016 · Transparency International Feb 2026
Transparency International CPI 2025 · transparency.org
The US score has declined from 76 (2016) to 67 (2025) — a 9-point drop over a decade, one of the largest sustained declines of any high-income democracy. Transparency International specifically cites: increasing politicisation of the justice system, erosion of anti-corruption norms in public procurement, and declining separation between business interests and political office. The CPI measures public sector corruption perception and does not directly assess private sector or financial crime, which the US scores better on through its SEC and DOJ enforcement record.Transparency International CPI 2025 · TI Historical CPI Data 2016–2025 · TI USA Country Profile
55
of 180
Press
Freedom 2025
Press
Freedom 2025
⚠ Press Freedom Index 2025 — Rank 55
Reporters Without Borders (RSF) 2025. The US has dropped from rank 20 in 2015 to rank 55 in 2025 — a 35-place decline in a decade. RSF cites: attacks on journalists at public events, seizure of journalist records, "enemy of the people" rhetoric, and concentration of local media ownership.
▼ 35-place decline in a decade · RSF Apr 2026
Reporters Without Borders World Press Freedom Index 2025 · rsf.org
The decline in US press freedom ranking reflects both structural and political factors. Structural: approximately 2,200 US local newspapers have closed since 2005, leaving large "news deserts." Six corporations own 90%+ of major US media outlets. Structural media consolidation weakens journalism's watchdog function independent of any political administration. Political: RSF documents escalating hostility to press — from physical attacks on journalists at political events (documented from 2016 onward) to DOJ subpoenas of journalist records and classification disputes. The First Amendment remains the strongest press protection in the world legally — the decline is in practice, not in law.RSF Press Freedom Index 2025 · Reporters Committee for Freedom of the Press 2025 · Pen America Press Freedom Report
Free
Freedom
House
2025
House
2025
Democracy Status — "Free" but Score Declining
Freedom House 2025: Rated "Free" — score 83/100. Down from 94/100 in 2010. The US is the only established democracy to have seen its Freedom House score decline so substantially over a 15-year period. V-Dem (University of Gothenburg) now classifies the US as an "electoral democracy" rather than "liberal democracy."
▼ Score declining · Freedom House 2025 · V-Dem 2025
Freedom House Freedom in the World 2025 · V-Dem Institute 2025
#1
Rule of
Law Score
WJP
Law Score
WJP
Rule of Law — Strong Institutional Framework
World Justice Project Rule of Law Index 2025: US ranks in the top tier globally for constraints on government powers, open government, and civil justice. The separation of powers, independent judiciary, and Bill of Rights remain among the strongest institutional designs in world governance history.
↔ Strong institutional design · WJP Rule of Law Index 2025
World Justice Project Rule of Law Index 2025 · worldjusticeproject.org
Section 05 — USA in the World
Where America Leads. Where It Lags.
The world's largest military, most patents, most Nobel prizes, most Fortune 500 companies. Also: below average life expectancy, 55th in press freedom, and the only rich nation without universal healthcare. Both sides.
Fresh — GII: Sep 2025 · HDI: May 2025 · Military: SIPRI 2025
Source: WIPO · UNDP · SIPRI · IMD · Transparency International · RSF
EDITORIAL NOTE: Both wins and gaps shown. Selective data is spin — not a scorecard.
🏆 Where the US Leads
#3
of 139
GII 2025
Innovation
GII 2025
Innovation
Global Innovation Index — 3rd Most Innovative Economy
WIPO GII 2025. Behind Switzerland (#1) and Sweden (#2). US leads globally in: university quality, venture capital, AI investment, knowledge-intensive exports, and scientific publications. Home to 4 of the world's top 5 S&T clusters (San Francisco, New York, Boston, San Diego).
↔ Consistent top-3 · WIPO GII Sep 2025
WIPO Global Innovation Index 2025 · wipo.int/gii
#1
Military
Spend
SIPRI 2025
Spend
SIPRI 2025
Military Expenditure — World's Largest
US defence spending: $886 billion in FY2026 — more than the next 10 countries combined. Represents ~3.1% of GDP. US has 750+ military bases in 80 countries. Nuclear arsenal: ~5,500 warheads (SIPRI). Sole superpower with truly global force projection capability.
↔ Consistent #1 globally · SIPRI Military Expenditure Database 2025
SIPRI Military Expenditure Database 2025 · DoD Budget FY2026
The US defence budget of $886 billion in FY2026 reflects both direct military costs and broader national security spending. It funds: 1.3 million active duty personnel, 11 aircraft carrier strike groups (out of 20 globally), the world's most advanced nuclear deterrent, and the intelligence community (CIA, NSA, DIA and others). From a purely military capability standpoint, the US maintains an unmatched ability to project force globally — the cornerstone of the post-WWII international order that has underpinned global trade and relative great-power peace.DoD FY2026 Budget Request · SIPRI Military Expenditure 2025 · Congressional Research Service US Military Basing
The fiscal cost is significant: defence at $886B exceeds what the US spends on interest ($1T+), but both together represent $1.9 trillion of the $7+ trillion federal budget. The opportunity cost debate — whether the same resources in healthcare, infrastructure, or education would produce better national outcomes — is a legitimate and longstanding policy question. NATO allies collectively spending far less while benefiting from the US security umbrella has been a source of recurring tension in US foreign policy across administrations.CBO Federal Budget Overview FY2026 · DoD Budget · NATO Defence Spending Data 2025
#20
of 193
HDI 2024
UNDP
HDI 2024
UNDP
Human Development Index — 20th Globally
UNDP HDI 2024. Score: 0.927 — "Very High Human Development." Ranked 20th globally — below Norway (#1), Switzerland (#2), and several European peers, but above most of the world. Strong performance on education and GNI per capita; pulled down by health (life expectancy below peers).
↔ Stable top-20 · UNDP Human Development Report May 2025
UNDP Human Development Report 2024 · hdr.undp.org
#1
Patent
Filings
Resident
Filings
Resident
Patent Filings — World Leader in Quality Innovation
US files ~600,000 patent applications annually — #2 globally by volume behind China (1.8M), but #1 globally in high-value PCT international patents. US universities produce more Nobel Prize winners than any other country. R&D spending: 3.45% of GDP — among the highest in the world.
↔ Consistent leader in high-value IP · WIPO IP Indicators 2025
WIPO World IP Indicators 2025 · National Science Foundation R&D Data
⚠ Where the US Lags or Faces Hard Questions
46th
Life
Expectancy
Global Rank
Expectancy
Global Rank
⚠ Life Expectancy — Below Peer Nations
76.4 years — approximately 46th globally and below all peer high-income democracies. Despite spending $12,500+ per capita on healthcare annually — the most in the world — Americans live shorter lives on average than citizens of Japan, Spain, Italy, France, UK, Canada, Germany, and Australia.
▼ Structural gap vs peers · CDC NCHS 2023 · OECD Health at a Glance 2025
CDC National Center for Health Statistics 2023 · OECD Health Data 2025
$40.2T
Debt
crossed
Aug 2026
crossed
Aug 2026
⚠ Long-Term Fiscal Trajectory — Unsustainable
National debt crossed $40.2 trillion in August 2026 — more than doubling in a decade. CBO long-term projections show debt held by the public continuing to climb well past WWII-era highs over coming decades, with interest payments now exceeding $1 trillion annually for the first time in US history.
▼ Trajectory deteriorating · Treasury Fiscal Data Aug 2026 · CBO Long-Term Budget Outlook 2026
USAFacts National Debt Analysis Aug 2026 · CBO Long-Term Budget Outlook 2026 · CRFB Debt Analysis
Only
rich nation
no universal
healthcare
no universal
healthcare
⚠ Only High-Income Country Without Universal Healthcare
The US is the only member of the OECD — 38 high-income nations — that does not provide universal health coverage to all citizens. Approximately 25–26 million Americans have no health insurance. Medical bankruptcy is a uniquely American phenomenon among wealthy nations.
▼ Structural gap · KFF · OECD Health at a Glance 2025
OECD Health Systems Characteristics Survey 2025 · KFF Health Insurance Coverage Data
🔒
Data Integrity Promise
Every number on USAScorecard traces to an official US government publication (BEA, BLS, CBO, Census, Treasury, Federal Reserve), an internationally recognised body (WIPO, UNDP, SIPRI, Transparency International, RSF), or a directly cited congressional or judicial record. We never estimate. Where data is unavailable or outdated, we say so. No political party, government, or advertiser funds or influences this site.