Executive Summary - Nation By The Numbers
The Nation By The Numbers
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| NATION BY THE NUMBERS A Snapshot of The Government's Financial Position & Condition |
||
|---|---|---|
| 2019 | 2018 | |
| Financial Measures (Dollars in Billions): | ||
| Total Tax and Other Unearned Revenues | $ 3,621.0 | $ 3,384.3 |
| Net Cost: | ||
| Gross Costs | $ (5,287.2) | $ (4,808.5) |
| Less: Earned Revenue | $ 418.4 | $ 392.8 |
| Gain / (Loss) from Changes in Assumptions | $ (198.9) | $ (125.2) |
| Total Net Cost | $ (5,067.7) | $ (4,540.9) |
| Unmatched Transactions and Balances | $ 1.6 | $ (2.4) |
| Net Operating Cost | $ (1,445.1) | $ (1,159.0) |
| Budget Deficit | $ (984.4) | $ (779.0) |
| Assets, comprised of: | ||
| Loans Receivable, Net | $ 1,425.8 | $ 1,419.1 |
| Property, Plant, and Equipment, Net | $ 1,106.9 | $ 1,090.5 |
| Other | $ 1,459.3 | $ 1,327.1 |
| Total Assets | $ 3,992.0 | $ 3,836.7 |
| Less, Liabilities, comprised of: | ||
| Debt Held By the Public & Accrued Interest | $ (16,861.0) | $ (15,812.7) |
| Federal Employee & Veteran Benefits | $ (8,440.3) | $ (7,982.3) |
| Other | $ (1,643.5) | $ (1,562.4) |
| Total Liabilities | $ (26,944.8) | $ (25,357.4) |
| Net Position (Assets Less Liabilities)1 | $ (22,952.8) | $ (21,520.7) |
| Sustainability Measures (Dollars in Trillions): | ||
| Social Insurance Net Expenditures | $ (59.1) | $ (54.0) |
| Total Federal Non-Interest Net Expenditures | $ (49.0) | $ (46.2) |
| Sustainability Measures as Percent of Gross Domestic Product (GDP): | ||
| Social Insurance Net Expenditures | (4.1%) | (4.0%) |
| Total Federal Non-Interest Net Expenditures | (3.2%) | (3.3%) |
| Fiscal Gap2 | (3.8%) | (4.1%) |
1 The government's net position is calculated in accordance with federal accounting standards. Per these standards, net position does not include the financial value of the government's sovereign power to tax, regulate commerce, or set monetary policy, or the value of nonoperational resources, such as national and natural resources, for which the government is a steward.
2 To prevent the debt-to-GDP ratio from rising over the next 75 years, a combination of non- interest spending reductions and receipts increases that amounts to 3.8 percent of GDP on average is needed (4.1 percent of GDP on average in 2018). See Financial Statement Note 23.
- A Message from the Secretary of the Treasury - PDF version
- Table of Contents - PDF version
- Results in Brief - PDF version
- The Nation By The Numbers
- Executive Summary - PDF version
- Management's Discussion & Analysis - PDF version
- Statement of the Comptroller General of the United States - PDF version
- Financial Statements- PDF version
- Statements of Net Cost
- Statements of Operations and Changes in Net Position
- Reconciliations of Net Operating Cost and Budget Deficit
- Statements of Changes in Cash Balance from Budget and Other Activities
- Balance Sheets
- Statements of Long-Term Fiscal Projections
- Statements of Social Insurance and Changes in Social Insurance Amounts
- Statements of Changes in Social Insurance Amounts
- Notes to the Financial Statements - PDF version
- Note 1. Summary of Significant Accounting Policies - PDF version
- Note 2. Cash and Other Monetary Assets - PDF version
- Note 3. Accounts and Taxes Receivable, Net - PDF version
- Note 4. Loan Receivable and Loan Guarantee Liabilities, Net - PDF version
- Note 5. Inventories and Related Property, Net - PDF version
- Note 6. Property, Plant, and Equipment, Net - PDF version
- Note 7. Debt and Equity Securities - PDF version
- Note 8. Investments in Government-Sponsored Enterprises - PDF version
- Note 9. Other Assets - PDF version
- Note 10. Accounts Payable - PDF version
- Note 11. Federal Debt Securities Held by the Public and Accrued Interest - PDF version
- Note 12. Federal Employee and Veteran Benefits Payable - PDF version
- Note 13. Environmental and Disposal Liabilities - PDF version
- Note 14. Benefits Due and Payable - PDF version
- Note 15. Insurance and Guarantee Program Liabilities - PDF version
- Note 16. Other Liabilities - PDF version
- Note 17. Collections and Refunds of Federal Revenue - PDF version
- Note 18. Contingencies - PDF version
- Note 19. Commitments - PDF version
- Note 20. Funds from Dedicated Collections - PDF version
- Note 21. Fiduciary Activities - PDF version
- Note 22. Social Insurance - PDF version
- Note 23. Long-Term Fiscal Projections - PDF version
- Note 24. Stewardship Land and Heritage Assets - PDF version
- Note 25. Disclosure Entities and Related Parties - PDF version
- Note 26. Public-Private Partnerships - PDF version
- Note 27. Subsequent Events - PDF version
- Required Supplementary Information (Unaudited) - PDF version
- The Sustainability of Fiscal Policy - PDF version
- Social Insurance - PDF version
- Deferred Maintenance and Repairs - PDF version
- Other Claims for Refunds - PDF version
- Tax Assessments - PDF version
- Federal Oil and Gas Resources - PDF version
- Federal Natural Resources Other than Oil and Gas - PDF version
- Other Information (Unaudited) - PDF version
- Tax Burden - PDF version
- Tax Gap - PDF version
- Tax Expenditures - PDF version
- Unmatched Transactions and Balances - PDF version
- Required Supplementary Stewardship Information (Unaudited) - PDF version
- Appendices
- Appendix A: Reporting Entity - PDF version
- Appendix B: Acronyms - PDF version
- U.S. Government Accountability Office Independent Auditor's Report - PDF version
- Related Resources
Certain material weaknesses, limitations, and uncertainties prevented the Government Accountability Office from expressing an opinion on the U.S. Government's consolidated financial statements included in the Financial Report and, therefore, GAO disclaimed an opinion on such statements. Certain information included on or referenced in this website, such as individual agency financial reports that were audited by other auditors, is separate from and not specifically reported in the Financial Report and therefore not covered by GAO's disclaimer.