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What's at Stake?. The US Government's Financial Statements and the Country's Fiscal Health. (Optional). (Add introductory information). Budget. Financial statements. 2011 Financial Statements. 2011 Financial Statements. U.S. financial statements differ from other o rganizations.
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What's at Stake? The US Government's Financial Statements and the Country's Fiscal Health
(Optional) • (Add introductory information)
U.S. financial statements differ from other organizations • Most financial statements include obligations or liabilities on balance sheet • US government’s financial statements do not include Social Security and Medicare • Footnote disclosures • Not reflected as liabilities
Reality of future obligations • These future obligations equal: $46.3 trillion in additional deficit Plus $14.8 trillion cumulative deficit Total deficit: $61 trillion deficit • $61 trillion is the equivalent of: Every household in America owing the full cost of two new homes and not getting to live in them
Accumulated deficit In trillions 2009 2010 2011 2012
(Optional) • (Add additional information about related resources you offer on this issue.)
What's at Stake? The US Government's Financial Statements and the Country's Fiscal Health