2010   Financial Report of the United States Government

A Citizenís Guide to the Fiscal Year 2010 Financial Report of the United States Government

Governmentís Financial Position and Condition

The Financial Report of the U.S. Government (Report) provides the President, Congress, and the American people a comprehensive view of how the Federal Government is managing taxpayer dollars. It discusses the Governmentís financial position and condition, its revenues and costs, assets and liabilities, and other responsibilities and commitments, as well as important financial issues that affect the Nation and its citizens both now and in the future.

The following table presents several key indicators of the Governmentís financial position and condition, which are discussed in greater detail in the Report.

NATION BY THE NUMBERS
A Snapshot of The Government's Financial Position & Condition
billions of dollars 2010 2009
Gross Costs $ (4,472.3) $ (3,735.6)
  Earned Revenues $ 309.2 $ 300.9
  Gain / (Loss) from Assumptions $ (132.9) n/a
Net Cost $ (4,296.0) $ (3,434.7)
Total Taxes and Other Revenues $ 2,216.5 $ 2,198.4
Other $ (0.8) $ (17.4)
Net Operating Cost $ (2,080.3) $ (1,253.7)
     
Assets: $ 2,883.8 $†2,667.9
Less: Liabilities, comprised of:    
  Debt Held By the Public $ (9,060.0) $ (7,582.7)
  Federal Employee & Veteran Benefits $†(5,720.3) $ (5,283.7)
  Other $†(1,576.3) $ (1,257.4)
Total Liabilities $ (16,356.6) $ (14,123.8)
Net Position (Assets Minus Liabilities) $ (13,472.8) $ (11,455.9)
Sustainability Measures:
Statement of Social Insurance:1
Closed Group (current participants)2 $†(43,058) $†(52,145)
Open Group (current + future participants)3 $†(30,857) $†(45,878)
Social Insurance as Percent of Gross Domestic Product (GDP)4:
Closed Group (current participants) -5.1% -6.6%
Open Group (current + future participants) -3.7% -5.8%
Budget Results
Unified Budget Deficit $(1,294.1) $(1,417.1)

Footnotes

1 Present value of projected revenues and expenditures for scheduled benefits over the next 75 years of certain benefit programs that are referred to as Social Insurance (e.g., Social Security, Medicare). Not considered liabilites on the balance sheet.(Back to Content)
2 Includes current participants (i.e., receiving and/or are eligible to receive benefits) for the Social Security and Medicare programs ages 15 and over at the start of the 75-year projection period, except for the 2007 Medicare programs for which current participants are assumed to be at least 18 years of age at the start of the 75-year projection period.(Back to Content)
3 Includes all current and future projected participants over the 75-year projection period.(Back to Content)
4 Social Insurance values as reported in the Statement of Social Insurance. GDP values from the 2010 Social Security and Medicare Trustees Reports represent the present value of GDP over the 75 year projection period.(Back to Content)


Last Updated:  December 07, 2011