The Treasury Department released the 2017 Financial Report of the U.S. Government this afternoon.
We’ve updated our debt clock to reflect the results, and adjusted our estimate of the “true” national debt to $103.8 trillion from our previous estimate of $104.5 trillion. That “true debt” has risen from $59.4 trillion since 2008.
One way to quickly get a read on results in this complicated document is to simply count the number of times it uses the words “sustainability,” “sustainable,” and “unsustainable.” The increased usage of these keywords arrives in discussions of the challenges ahead in the future fiscal path of our federal government.
Looking back at the last decade, it isn’t a pretty picture. And it only got worse last year.
More to follow.