Financial Transparency Score Report

Our new report analyzes how transparent state governments are with their finances.

Financial State of the Union

Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023.

GovFin 2024: Municipal Reporting Workshop

Join us July 29-30 for the GovFin 2024: Municipal Reporting Workshop. Christine Kuglin, Director of the TIA project at DU, will moderate a break-out session titled Government Data Reporting Standards. Seating is limited!

US Published National Debt


The Truth


Each Taxpayer's Share: $980,000

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  • Financial State of the Union 2024

    Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023. 

  • Financial State of the Cities 2024

    At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.

  • Financial State of the States 2023

    Our fourteenth Financial State of the States report found debt among the states was $938.6 billion, which is down from $1.2 trillion at the end of fiscal year 2021. Overall, it appeared state debt decreased primarily due to the following two factors: tax revenue increases due to the lockdowns ending, and millions, if not billions, of dollars in federal COVID funds received by the states.

  • Data-Z (database for state and city data)

    Create your own chart with more than 700 data variables at the federal, state, and city levels.

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  • Yikes: Let's Check in on How Things Are Going in the DNC's Host City

    June 6, 2024

    One-party rule in action: According to the group Truth in Accounting, Chicago continues to live up to its moniker “Second City” in at least one respect: it has thesecond-worstdebt load of any big city in America—about $43,000 per taxpayer, or almost $40 billion in total.

  • How Debt Ate Chicago

    June 2, 2024
    City Journal

    Thus, a family moving to Chicago suddenly becomes the inheritor of almost $85,000 in liabilities. By this metric, Chicago is no longer second but has by far the worst debt burden of any major city.

  • America’s $288 Billion City Debt Crisis

    May 28, 2024
    Medium - Illumination

    It’s a scene playing out in city halls across the United States — leaders gathering to confront a $288 billion black hole of debt threatening to bankrupt dozens of the nation’s largest municipalities. The mood is grim as the true scale of the crisis is laid bare.

read more in the news
  • Unlocking Generosity: Transform Your IRA into Vital Donations

    June 5, 2024

    Discover a powerful way to support the Truth in Accounting mission while maximizing your tax benefits. Did you know that a qualified charitable distribution from your IRA’s annual required minimum distribution can be structured to be tax-free? This means that the transferred amount is not taxable as long as it’s paid directly from the IRA to the charitable organization.

  • Intern Spotlight: Zahra Mammadova

    May 31, 2024

    Meet Zahra Mammadova

    Originally from Azerbaijan, Zahra is currently pursuing a master's degree in Accounting, Technology, and Analytics at the University of Denver, and works hard to help Truth in Accounting complete our research and reports.

  • A Beacon of Hope Beyond Political Polarization: TIA’s Impact on the FDTA

    May 30, 2024

    Truth in Accounting's drive for financial transparency has gained significant traction, bolstered by a bipartisan push from Congress. In a compelling letter dated May 14, 2024, a bipartisan group of Congressional leaders, including Senators Mike Crapo and Mark Warner, Representatives Patrick McHenry and Maxine Waters, reached out to key financial regulators. Their message was clear: it's time to act swiftly on implementing the Financial Data Transparency Act (FDTA). 


  • Doomsday Scenario Update

    May 28, 2024

    In 2015, Truth in Accounting laid out two doomsday scenarios for the finances of the U.S. federal government. Almost ten years later, let's look at an update.

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