Federal Revenues & Obligations
How much larger are the federal government's debts, liabilities, and unfunded obligations than its annual revenues?
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Balanced against the value of its commercial assets, the federal government had $114.3 trillion in debts, liabilities, and unfunded obligations at the close of its 2020 fiscal year. This shortfall amounts to 31 times federal revenues in 2020, or $889,802 for every household in the United States. Unlike reckonings of federal finances that extend into the indefinite future, this shortfall is only for American adults who are alive right now. Thus, it represents the burden that today's adults are placing on future generations.
DocumentationQuantifying the National Debt
Published: September 7, 2021
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