US Published National Debt
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The Truth
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Each Taxpayer's Share: $ 994,000
Financial State of the States 2024
Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
Financial State of the Union 2024
Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023.
Financial State of the Cities 2024
At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.
Data-Z (database for state and city data)
Create your own chart with more than 700 data variables at the federal, state, and city levels.
Illinois extremely late on its 2023 financial report. Explanation needed.
January 27, 2025
Wirepoints
Illinois’ tardiness with its ACFR is part of why Truth in Accounting graded it an ‘F’ in its most recent Financial State of States. From that report:
Group warns U.S. financial liabilities are not being truthfully reported
January 22, 2025
The Center Square
Truth in Accounting recently took part in a virtual event called “Citizen-Heroes Conference” aimed at exposing the true scope of U.S. government financial obligations. Economists and fiscal policy analysts stressed the need for increased transparency and accountability in federal accounting.
The Congressional Budget Office's most recent report delivered a grim outlook for federal finances, noting that public debt will rise to $52 trillion by 2035.
A New Year: Resolve to be Financially Empowered
January 21, 2025
The Business Times
Concern about the U.S. economy is front and center with the electorate. The election results verified the majority of Americans wanted more accountability and fiscal responsibility at the national level.
With the national debt at $36 trillion, according to the Truth in Accounting website and not including the total unfunded Social Security and Medicare promises, no wonder Americans are concerned about an unsustainable debt and the resulting inflation because of printing money to cover the debt.
California Wildfires: Truth in Accounting's Position
January 25, 2025
Truth in Accounting believes the California wildfires are a horrific tragedy that highlights the real-life impact of public policy. As a nonpartisan organization, we look at the numbers. But as people, we see the human toll, and our hearts go out to the people's suffering.
DOGE, the Debt Limit, and Dismantling the U.S. Fiscal Time Bomb
January 23, 2025
The Treasury Department hit its debt ceiling on January 21, meaning it can no longer borrow additional funds. While some may view this as a positive development, the reality is more complicated. To work around this limitation, Treasury Secretary Janet Yellen has declared we are in a "debt issuance suspension period." In other words, we’ve hit our credit limit, but we’re using accounting gimmicks to pretend we haven’t.
EARLY RELEASE: Financial State of Chicago
January 13, 2025
As part of a sneak peek to our annual Financial State of the Cities report, we have released the Financial State of Chicago.
While the city of Chicago grapples with its next budget, its financial condition has deteriorated by $2.6 billion, leaving each Chicago taxpayer with a Taxpayer Burden™ of $40,600 and earning it an “F” grade according to our new report.
The SEC's job is about protecting ALL investors!
December 6, 2024
New SEC Chair Paul Atkins should investigate the misleading and confusing accounting practices in municipal securities.
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