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Financial Report of the United States Government

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.

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Last modified 05/11/21