US Published National Debt
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The Truth
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Each Taxpayer's Share: $980,000
Financial State of the States 2024
Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
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.
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.
Baltimore nonprofits dodge needed scrutiny
October 21, 2024
The Baltimore Sun
Baltimore’s finances are in a bad way. Despite assurances from the mayor that the city’s $4.1 billion budget for fiscal year 2025 is balanced, this misleading message masks a dismal reality. As fiscal watchdog Truth in Accounting notes in its 2024 “Financial State of the Cities” report, “Baltimore would need $14,100 from each of its taxpayers to pay all of its outstanding bills”
Waste of the Day: States Are $811 Billion In Debt
October 21, 2024
RealClear Investigations
America’s 50 state governments will need an extra $811 billion to pay off their current debt, according to the annual “State of the States” report from Truth in Accounting.
Key facts: State governments had $2.9 billion in debt and only $2.1 trillion in assets at the end of fiscal year 2023, Truth in Accounting, a nonpartisan organization that promotes fiscal transparency and accountability, found. The gap will need to be covered by taxpayers sometime in the future.
Cities Preparing for Life After American Rescue Plan Funding
October 18, 2024
The Epoch Times
This past spring, Truth in Accounting estimated that 50 of the nation's 75 largest cities are facing substantial debts and deficits, which can threaten local employees' health care and pension benefits. "Our biggest challenge is not the replacement of the ARPA funds.
Supporting the Next Generation of Financial Transparency Leaders!
October 4, 2024
The University of Denver Truth in Accounting Project is mentoring two teams participating in the Association of Government Accountant's 2024 CCR competition. These students are using Truth in Accounting’s comprehensive resources—along with Data Z—to help create reports on the State of Maine, ensuring that the state’s financial picture is not only accurate but also accessible to the general public.
Pro forma statements for state and local government?
September 26, 2024
Why aren't state and local governments doing this? A pro forma statement is a financial document that projects future financial performance based on certain assumptions or hypothetical scenarios.
Our Governments Make Their Own Accounting Rules – and Mislead Us
September 26, 2024
The accounting rules our governments make for themselves result in financial reports that mislead the public. Citizens are not receiving the accountability they deserve; they do not have the financial reports needed to responsibly exercise their right to vote.
The Standard Setters for State and Local Government Accounting
September 12, 2024
State and local governments have different accounting standards than corporations. Truth in Accounting does not understand or support this position. So, who sets these standards?
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