As of December 30, 2015, the official debt of the United States government is $18.8 trillion ($18,825,061,664,536). This amounts to:
- $58,361 for every person living in the U.S.
- $151,100 for every household in the U.S.
- 104% of the U.S. gross domestic product.
- 539% of annual federal revenues.
At the close of the federal government’s 2014 fiscal year (September 30, 2014), the federal government had roughly:
- $7.9 trillion ($7,932,000,000,000) in liabilities that are not accounted for in the national debt, such as federal employee retirement benefits, accounts payable, and environmental/disposal liabilities.
- $25.4 trillion ($25,386,000,000,000) in obligations for current Social Security participants above and beyond projected revenues from their payroll and benefit taxes, certain transfers from the general fund of the U.S. Treasury, and assets of the Social Security trust fund.
- $28.2 trillion ($28,200,000,000,000) in obligations for current Medicare participants above and beyond projected revenues from their payroll taxes, benefit taxes, premium payments, and assets of the Medicare trust fund.
The figures above are determined in a manner that approximates how publicly traded companies are required to calculate their liabilities and obligations. The obligations for Social Security and Medicare represent how much money must be immediately placed in interest-bearing investments to cover the projected shortfalls between dedicated revenues and expenditures for all current participants in these programs (both taxpayers and beneficiaries).
Combining the figures above with the national debt and subtracting the value of federal assets, the federal government had about $74.3 trillion ($74,331,000,000,000) in debts, liabilities, and unfunded obligations at the close of its 2014 fiscal year.
This $74.3 trillion shortfall is 91% of the combined net worth of all U.S. households and nonprofit organizations, including all assets in savings, real estate, corporate stocks, private businesses, and consumer durable goods such as automobiles.
This shortfall equates to:
- $232,627 for every person living in the U.S.
- $603,194 for every household in the U.S.
- 422% of the U.S. gross domestic product.
- 2,210% of annual federal revenues.
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