According to the most recent audited Financial Report of the U.S. Government, our nation’s true debt has climbed to $158.6 trillion, burdening each federal taxpayer with $974,000. Most of this debt stems from obligations the government has committed to—like $67.1 trillion in Medicare and $51.6 trillion in Social Security benefits—but hasn’t properly accounted for on its balance sheet. Read more from our latest Financial State of the Union report.
