This was issued on February 15, but I haven't noticed it this year. The key thing I notice is accrued liabilities of $14.3 trillion for Federal Employee & Veteran Benefits Payable.
The total liabilities as of 9/30/23 were $42.9 trillion. Compare this to the National Debt of $33.2 trillion as of 9/30/23. The National Debt includes the Intragovernmental Holdings of $6.8 trillion (as of 9/30/23) but excludes other liabilities. The Total Liabilities on the Balance Sheet includes the $14.3 trillion for FEVBP plus another $2.2 trillion for other, but excludes the Intragovernmental Holdings.
The projections based on this Financial Report’s assumptions indicate that current policy is not sustainable. The debt-to-GDP ratio was approximately 97 percent at the end of 2023, which is similar to (but slightly above) the debt-to-GDP ratio at the end of FY 2022. If current policy is left unchanged, the projections show the debt-to-GDP ratio will be approximately 100 percent in 2024, exceed 200 percent by 2047 and reach 531 percent in 2098. For comparison, under the 2022 projections, the debt-to-GDP ratio exceeded 200 percent one year earlier in 2046 and reached 566 percent in 2097.
So there it is, 200% is the ratio to use and this will be exceeded in 2047. We have 23 years left before the whole thing blows up.
No comments:
Post a Comment