US Published National Debt
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The Truth
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Each Taxpayer's Share: 1,248,000
Financial State of the Union 2026
Truth in Accounting’s analysis of the most recent audited Financial Report of the U.S. Government found its overall financial condition worsened by $11.6 trillion in 2025.
Financial State of the Cities 2026
The report examines the fiscal health of America’s five largest cities–Los Angeles, Houston, Philadelphia, Chicago, and New York City.
Financial State of the States 2025
Our sixteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
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.
The Pension Time Bomb: Why the GASB’s Accounting Rules Demand Congressional Oversight
April 23, 2026
America’s state and local governments are sitting on a hidden fiscal crisis. Under today’s official accounting rules, hundreds of billions of dollars in underfunded pension promises are not reflected as liabilities in the budgetary fund statements used for budgeting decisions. The result? Distorted budgets, squeezed funding for schools, roads, and public safety, and a massive transfer of costs to future generations.
Regime Change at the Fed: From Big Bank Bailouts to Local Productivity
February 24, 2026
ScheerPost
On January 30, when former Federal Reserve board member Kevin Warsh was nominated by President Trump as the central bank’s next chair, markets sold off and gold and silver plunged. Investors were positioned for a “dove,” someone inclined to cut rates aggressively and keep money loose; and Warsh has a long-standing reputation as a “hawk.”
The Chicago Teachers’ Mystery Audits
February 1, 2026
The Wall Street Journal
The Chicago Teachers Union (CTU) has resisted making its financial audits public, and we are starting to learn why. The union recently produced audits going back to 2020, and the records show that its finances haven’t always received a clean slate by its official independent auditor.
PRESS RELEASE: Truth in Accounting Joins FOX45, WJLA, and The Baltimore Sun to Show Marylanders the Full Cost of Government
September 4, 2026
Truth in Accounting, a nonpartisan nonprofit that has analyzed government financial reports since 2002, today announced a joint effort with The Baltimore Sun and Sinclair Broadcast Group stations FOX45 in Baltimore and WJLA in Washington, D.C., including the Spotlight on Maryland investigative unit. The collaboration will examine Maryland’s finances from the State House to every county and Baltimore City over time, using governments’ own audited numbers, not campaign talking points.
Georgia Audit Finds Major Reporting Errors, Weak Cash Controls, and Ongoing Problems in Unemployment Accounting
August 28, 2026
Georgia’s 2025 statewide audit identified recurring weaknesses in financial reporting, accounting systems, cash reconciliations, information technology (IT) controls, and oversight across multiple agencies. While many errors were corrected before the state’s financial statements were finalized, auditors found repeated instances where the agencies’ internal controls failed to catch significant mistakes until the audit began.
Delaware Audit Finds Missing Documentation, Late Reviews, and Ongoing Weaknesses in Federal Program Oversight
August 6, 2026
Delaware’s 2025 Single Audit identified recurring problems across multiple state agencies, including weaknesses in financial reporting, payroll oversight, proper documentation, and federal reporting. While the report does not conclude that fraud occurred, it does show how missing records, late reviews, unsupported reports, and inconsistent internal controls can make it harder for the state to prove that taxpayer and federal dollars were managed properly.
Why David Cotton’s Call for Auditing Reform Matters Now More Than Ever
July 31, 2026
At Truth in Accounting, we believe that transparency and accountability in government finances are a cornerstone for an informed electorate. That’s why we’re enthusiastic about David Cotton’s recent article for the Association of Government Accountants, which takes a hard look at the shortcomings of Single Audits in uncovering fraud, waste, and abuse involving federal dollars. This is particularly timely in light of the recent and alarming fraud in Minnesota, which we have reported on before.
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