Federal Reports

Truth in Accounting has completed studies of the federal government, arguably the largest and most complex financial entity in the world. The reports, as well as accompanying documents can be found below. 

Financial State of the Union report

Similar to the Financial State of the States report, Truth in Accounting analyzed the federal government for its fiscal health.

2019 Financial State of the Union

2018 Financial State of the Union

Defense Department Audit Report Card

We rank Defense Department component entities based on their performance in recent financial statement audits. 

2020 Defense Department Audit Report Card

2019 Defense Department Audit Report Card

Topic Documents 

Longer white papers discussing the federal government's finances can be found below. 

The Federal Program Inventory

Topic One: The Federal Government Doesn't Follow the Same Rules As We Do



White Paper

Topic Two: The Financial State of the Union

Our Letter to the President

White Paper

Resources for readers: 

Historical Look at the State of the Union

Resources for readers on the State of the Union 2009 - 2014

Topic Three: Entitlements

Entitlement Programs: You’re paying for them, but do you know what they’re for?

You pay for entitlements, but what are you going to receive?

Topic Four: The Greek Crisis: Comparisons to the US Great Recession

The Greek crisis: the reasons why, and the lessons available

3 Financial Mistakes Made by the US and Greece 

Other Resources

Three things to know about financials for the U.S. Government in Q1 2016 

Federal government credit card statement

The American Revolution


Social Security 

Does the debt ceiling really matter? 

Presidential candidates and their financial half-truths

Top 10 most outrageous financial happenings of 2015