"Importantly, the $47.78 trillion in reported liabilities does not include the unfunded obligations of social insurance programs like Social Security & Medicare...
The government’s consolidated balance sheet position... deteriorated by nearly $2.07 trillion between FY 2024 & FY 2025, reaching a staggering negative $41.72 trillion. Total liabilities are now nearly eight times the value of reported assets."
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/
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