See: https://www.fiscal.treasury.gov/files/reports-statements/financial-report/2025/FY-2025-Financial-Report-3-19-2025(Final).pdf Note: The date in the title of the PDF says 2025, but internally this document is dated March 19, 2026.
The most interesting thing about it, I think is the "Federal Employee and Veterans Benefits Payable" of $15.5 trillion as of 9/30/25, up from $15 trillion the previous year. Should this be included in the national debt?
The biggest part of this is the Veterans Compensation and Burial Benefits of $7.3 trillion. I think the amount paid each year (maybe $300 billion) is treated as a cash expense under the Veterans Administration, and the payable amount is the projected payments over the next 40 or so years.
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