US Published National Debt
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The Truth
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Each Taxpayer's Share: $993,000
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.
Financial State of the States 2023
Our fourteenth Financial State of the States report found debt among the states was $938.6 billion, which is down from $1.2 trillion at the end of fiscal year 2021. Overall, it appeared state debt decreased primarily due to the following two factors: tax revenue increases due to the lockdowns ending, and millions, if not billions, of dollars in federal COVID funds received by the 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.
Fueled by federal pandemic money, Washington state's spending has skyrocketed
April 16, 2024
“The state of Washington, like most other states, has seen an increase in spending,” said Christine Kuglin, director of Truth in Accounting.” Much of this is due to the COVID pandemic and population shifts. However, some is also attributable to overpayments in unemployment benefits that occurred during COVID. This and other fraudulent activities cost taxpayers a lot of money.”
Unsustainable Spending: 10 U.S. Cities on the Brink of Bankruptcy
April 16, 2024
Fifty of the country’s 75 largest cities are in a substantial deficit, according to Truth in Accounting’s recent Financial State of the Cities report. Carrying high debt can be fiscally risky, putting city employees’ pensions and health care benefits at risk. Is your hometown on the list? Read on to find out.
Californians are on the hook for Sacramento’s profligacy
December 24, 2023
Redlands Daily Facts
"Another scorecard ranked California one of the worst states financially. Truth in Accounting’s 14th annual Financial State of the States report scored California 42nd among the 50 states.
Student Loans, City Debt, & the Government's Exclusion
April 16, 2024
The truth about government finances through the lens of accounting, not politics.
Waste of the Day Report, the financial state of California, and the City of Dallas $6.9 billion in debt, and so much more.
Note from Sheila
June 20, 2023
Today's inside look focuses on the wins coming from the Truth in Accounting partnership with the University of Denver, which has opened up new opportunities and introduced our name and work to a wider audience. But these wins aren't for us. They are for you! And we can only rack up more wins with financial support. DU doesn't fund us. We fund the project.
Inconsistent bank regulation spells trouble for investors
June 13, 2023
XBRL US
"The failure of Silicon Valley Bank (SVB) was not a surprise to regulators or investors who took the time to check the bank’s financial statements and footnotes. By March of 2021, unrealized debt securities losses for the bank had already begun to climb, reaching ($1,343) million by year-end December 2021, and leaping to ($15,160) million a year later, all the while the bank’s stockholders’ equity remained flat."
Exclusive: Pentagon accounting error overvalued Ukraine weapons aid by $3 billion
May 27, 2023
Reuters
"WASHINGTON, May 18 (Reuters) - The Pentagon overestimated the value of the ammunition, missiles and other equipment it sent to Ukraine by around $3 billion, a Senate aide and a defense official said on Thursday, an error that may lead the way for more weapons being sent to Kyiv for its defense against Russian forces."
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