Federal Liabilities: 2024 Update

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dc.creatorJansen, Dennis W.
dc.creatorRettenmaier, Andrew
dc.creatorUddin, Thamina
dc.date2024
dc.date.accessioned2024-09-13T19:02:14Z
dc.date.available2024-09-13T19:02:14Z
dc.date.issued2024-09-10
dc.date.issued9/10/2024
dc.description.abstractThe 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.en
dc.format.digitalOriginborn digitalen
dc.format.mediumElectronicen
dc.format.mimetypepdf
dc.identifier.urihttps://hdl.handle.net/1969.1/203362
dc.language.isoen_US
dc.publisherPrivate Enterprise Research Center, Texas A&M University
dc.publisher.digitalTexas A&M University. Library
dc.relationEconomicStudies_Analysisen
dc.rightsNO COPYRIGHT - UNITED STATESen
dc.rights.urihttps://rightsstatements.org/page/NoC-US/1.0/?language=en
dc.subjectFederal Liabilityen
dc.subjectNational Debten
dc.subjectSocial Securityen
dc.subjectMedicareen
dc.titleFederal Liabilities: 2024 Updateen
dc.typePolicyStudiesen
dc.type.materialTexten
dc.type.materialStillImageen

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