Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023. Most of the national debt can be attributed to $66.2 trillion in Medicare promises and $50.3 trillion in Social Security. These subsidy promises have been made to citizens, but the government has not properly set aside money to fund them. Other contributing factors include military and civilian retirement benefits and publicly held debt, just to name a few.
