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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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A Snapshot of
The Government's Financial Position & Condition
  2021 2020*
Financial Measures (Dollars in Billions):
Net Cost:
Gross Costs  $(7,294.7)  $(7,195.1)
Less: Earned Revenue  $ 462.3  $461.6
Gain / (Loss) from Changes in Assumptions  $(518.4)  $ (679.5)
Total Net Cost  $(7,350.8)  $(7,413.0)
Less: Total Tax and Other Unearned Revenues  $4,255.9  $3,571.6
Net Operating Cost  $(3,094.9)  $(3,841.4)
Budget Deficit  $(2,775.6)  $(3,131.9)
Assets, comprised of:    
Cash and Other Monetary Assets  $ 475.0  $1,926.9
Accounts Receivable  $ 401.0  $321.2
Loans Receivable, Net  $1,651.0  $1,577.4
General Property, Plant, and Equipment, Net  $1,176.9  $1,139.9
Other  $1,189.7  $990.3
Total Assets  $4,893.6  $5,955.7
Less, Liabilities, comprised of:    
Federal Debt and Interest Payable  $(22,344.8)  $(21,082.9)
Federal Employee & Veteran Benefits Payable  $(10,183.0)  $(9,415.5)
Other  $(2,249.9)  $(2,245.6)
Total Liabilities  $(34,777.7)  $(32,744.0)
Unmatched Transactions and Balances1  $(1.7)  $ (3.1)
Net Position2  $(29,885.8)  $(26,791.4)
Sustainability Measures (Dollars in Trillions):
Social Insurance Net Expenditures  $ (71.0)  $(65.5)
Total Federal Non-Interest Net Expenditures  $ (97.6)  $(79.5)
Sustainability Measures as Percent GDP:
Social Insurance Net Expenditures (4.4%)  (4.2%) 
Total Federal Non-Interest Net Expenditures  (5.7%)   (4.8%) 
Fiscal Gap3  (6.2%)   (5.4%) 

1 Unmatched transactions and balances are net adjustments needed to balance the financial statements and are due primarily to unresolved intra-governmental differences. Net unmatched transactions and balances of $0.2 billion for FY 2021 and $11.5 billion for FY 2020 are also included in the Statements of Operations and Changes in Net Position. See Financial Statement Note 1.U.
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 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 6.2 percent of GDP on average is needed (5.4 percent of GDP on average in 2020). See Financial Statement Note 26.

*Restated (see Financial Statement Note 1.V and Note 1.W)

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Last modified 03/27/22