Just Released
TIA's
Financial State of the Union Report
Most of the national debt can be attributed to $66.2 trillion in Medicare promises and $50.3 trillion in Social Security. The government has failed to properly fund these promises made to its citizens.
The first step in managing the nation’s finances should be presenting accurate and transparent figures through full accrual budgeting and accounting that includes the costs and growth in the liabilities related to the two programs our seniors rely on the most, Social Security and Medicare. This would enable the President, Congress, and the American people to make fully informed tax and spending decisions.
However, nontransparent flawed budgeting and accounting techniques currently produce inaccurate numbers, making the federal government’s finances difficult, if not impossible, to manage. Our report is based on the U.S. Treasury's 2023 Financial Report.
