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 |
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---|---|---|
2023 | 2022* | |
Financial Measures (Dollars in Billions): | ||
Net Cost: | ||
Gross Costs | $ (7,661.7) | $ (7,420.1) |
Less: Earned Revenue | $ 539.5 | $ 531.1 |
Gain/ (Loss) from Changes in Assumptions | $ (760.6) | $ (2,207.9) |
Total Net Cost | $ (7,882.8) | $ (9,096.9) |
Less: Total Tax and Other Unearned Revenues | $ 4,465.6 | $ 4,925.9 |
Net Operating Cost | $ (3,417.2) | $ (4,171.0) |
Budget Deficit | $ (1,695.2) | $ (1,375.5) |
Assets, comprised of: | ||
Cash and Other Monetary Assets | $ 922.2 | $ 877.8 |
Inventory and Related Property, Net | $ 423.0 | $ 406.9 |
Loans Receivable, Net | $ 1,695.1 | $ 1,434.1 |
General Property, Plant, and Equipment, Net | $ 1,235.0 | $ 1,197.5 |
Other | $ 1,143.8 | $ 1,046.1 |
Total Assets | $ 5,419.1 | $ 4,962.4 |
Less, Liabilities, comprised of: | ||
Federal Debt and Interest Payable | $ (26,347.7) | $ (24,328.0) |
Federal Employee & Veteran Benefits Payable | $ (14,327.4) | $ (12,811.9) |
Other | $ (2,223.2) | $ (1,882.4) |
Total Liabilities | $ (42,898.3) | $ (39,022.3) |
Unmatched Transactions and Balances1 | $ - | $ (1.3) |
Net Position2 | $ (37,479.2) | $ (34,061.2) |
Sustainability Measures (Dollars in Trillions): | ||
Social Insurance Net Expenditures | $ (78.4) | $ (75.9) |
Total Federal Non-Interest Net Expenditures | $ (73.2) | $ (79.5) |
Sustainability Measures as Percent GDP: | ||
Social Insurance Net Expenditures3 | (4.4%) | (4.3%) |
Total Federal Non-Interest Net Expenditures | (3.8%) | (4.2%) |
Fiscal Gap4 | (4.5%) | (4.9%) |
1 Unmatched transactions and balances are net adjustments needed to balance the financial statements and are due primarily to unresolved intra-governmental differences.
2 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.
3 Pursuant to federal accounting standards, for SOSI reporting, the federal government's social insurance programs include Social Security; Medicare Parts A, B, and D; DOL's Black Lung program; and the RRB.
4 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 amount to 4.5 percent of GDP on average is needed (4.9 percent of GDP on average in FY 2022). See Financial Statement Note 24.
*Change in presentation (see Financial Statement Note 1.W).
- Current Report: Fiscal Year 2023 - PDF version
- A Message from the Secretary of the Treasury - PDF version
- Table of Contents - 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
- Statement 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 Receivable, Net - PDF version
- Note 4. Loans Receivable, Net and Loan Guarantee Liabilities - PDF version
- Note 5. Inventory and Related Property, Net - PDF version
- Note 6. General Property, Plant, and Equipment, Net - PDF version
- Note 7. Investments - PDF version
- Note 8. Investments in Government-Sponsored Enterprises - PDF version
- Note 9. Advances and Prepayments - PDF version
- Note 10. Other Assets - PDF version
- Note 11. Accounts Payable - PDF version
- Note 12. Federal Debt and Interest Payable - PDF version
- Note 13. Federal Employee and Veteran Benefits Payable - PDF version
- Note 14. Environmental and Disposal Liabilities - PDF version
- Note 15. Benefits Due and Payable - PDF version
- Note 16. Insurance and Guarantee Program Liabilities - PDF version
- Note 17. Advances from Others and Deferred Revenue - PDF version
- Note 18. Other Liabilities - PDF version
- Note 19. Collections and Refunds of Federal Revenue - PDF version
- Note 20. Commitments - PDF version
- Note 21. Contingencies - PDF version
- Note 22. Funds from Dedicated Collections - PDF version
- Note 23. Fiduciary Activities - PDF version
- Note 24. Long-Term Fiscal Projections - PDF version
- Note 25. Social Insurance - PDF version
- Note 26. Stewardship Property, Plant, and Equipment - PDF version
- Note 27. Disclosure Entities and Related Parties - PDF version
- Note 28. Public-Private Partnerships - PDF version
- Note 29. COVID-19 Activity - PDF version
- Note 30. 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
- Land and Permanent Land Rights - 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
- Appendices
- Appendix A: Reporting Entity - PDF version
- Appendix B: Glossary of Acronyms - PDF version
- U.S. Government Accountability Office Independent Auditor's Report - PDF version
- Related Resources
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