Balance Sheet: USA Inc. Total Liabilities*: $47 Trillion in F2010,
or $395,093 per Household Owing Largely to Entitlement Spending
Total Assets / Liabilities / Net Worth of USA Federal Government, Using Corporate GAAP Accounting, F1996-F2010
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Note: USA inc.’s balance sheet presented here does not include the financial value of the Government's sovereign powers to tax, regulate commerce, and set monetary policy. It also excludes its control over nonoperational resources, including national and natural resources, for which the Government is a steward. Total liabilities include the net present value (NPV) of unfunded entitlement liabilities like Social Security / Medicare / other payments, which the Treasury Dept. considers ‘off-balance sheet’ responsibilities. U.S. government fiscal year ends in September. Source: U.S. Department of the Treasury, Financial Report on the US.
KP Government, 1996 — 2009. (@)E) www.kpcb.com USA Inc. | Balance Sheet Drilldown 213
Balance Sheet: USA Inc. Total Liabilities: $47 Trillion in F2010
Up 5x From 1996, Driven by Medicare Liabilities
Total Liabilities of USA Federal Government, Using Corporate GAAP Accounting, F1996-F2009
F1996 F1998 F2000 F2002 F2004 F2006 F2008 F2010
$ | & B20 mm ee co ee ee wt sme es 2 2 $30 -- 3 a Net Medicare (Part D) Liabilities 3 © $40 — | aNet Medicare (Part A & B) Liabilities re) £ a Net Social Security Liabilities < $50 iienae ” 5 a Federal Employee & Veteran Benefits Payable $60 -- ™@FederalDebt; ©0022 22 2 2 2 pos Medicare liabilities down sharply owing to slower 1 All Other healthcare cost growth assumptions associated $70 ~~ --- ~~ - ee eee fee withthe. 2010 Healthcare reform. --__-_ - -
Note: USA Inc.’s balance sheet presented here does not include the financial value of the Government's sovereign powers to tax, regulate commerce, and set monetary policy. It also excludes ifs control over nonoperational resources, including national and natural resources, for which the Government is a steward. Total liabilities include the net present value (NPV) of unfunded entitlement liabilities like Social Security / Medicare / other payments, which the Treasury Dept. considers ‘off-balance sheet’ responsibilities. U.S. government fiscal year ends in September. Source: U.S. Department of the Treasury, Financial Report on the U.S
KP .Government, 1996 — 2009. (@E) www.kpcb.com USA Inc. | Balance Sheet Drilldown 214
HOUSE_OVERSIGHT_020948