US Published National Debt
$
The Truth
$
Each Taxpayer's Share: $980,000
Financial State of the Union 2024
Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023.
Financial State of the Cities 2024
At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.
Financial State of the States 2023
Our fourteenth Financial State of the States report found debt among the states was $938.6 billion, which is down from $1.2 trillion at the end of fiscal year 2021. Overall, it appeared state debt decreased primarily due to the following two factors: tax revenue increases due to the lockdowns ending, and millions, if not billions, of dollars in federal COVID funds received by the states.
Data-Z (database for state and city data)
Create your own chart with more than 700 data variables at the federal, state, and city levels.
Can Hawaii afford climate change lawsuit settlement?
June 28, 2024
The Center Square
"The state doesn't have money sitting around that can be used for settlements like this," said Sheila A. Weinberg, founder and CEO of Truth in Accounting. "To pay for this settlement, taxes will have to be raised or services and benefits will have to be cut. The other option is to even underfund the pension and retiree health care benefits even more."
Hawaii is the first to settle a climate change lawsuit, but it may not be the last. The case may set a precedent in other states where young people have filed lawsuits over climate concerns, according to an op-ed written by Cara Horowitz, executive director of the Emmett Institute on Climate Change and the institute's communications director, Evan George.
Report challenges health of city of Longview finances — but not by standard measures
June 28, 2024
Longview News-Journal
A report by the nonprofit organization Truth in Accounting arrived the week early voting started for the Longview mayoral election in May.
That assessment, though, was based off old information and uses a standard that Truth in Accounting established that measures government finances differently than is accepted practice.
The Top 15 Worst-Run Cities in America
June 25, 2024
MSN
Have you ever wondered which cities in America are grappling with poor management, inefficient services, and financial struggles? Some cities suffer serious administrative woes, from ballooning budgets to crumbling infrastructures. These are the cities where mismanagement and chaos reign supreme.
Our Mission is to Help: A Rebuttal
June 28, 2024
We've all felt some mistrust towards the government. We're trying to rebuild that trust alongside other nonprofits, educators, policy-makers, public servants, and journalists. We're sad to see that the Longview News-Journal didn't see that mission when covering our special report on the city of Longview, TX.
Unlocking Generosity: Transform Your IRA into Vital Donations
June 5, 2024
Discover a powerful way to support the Truth in Accounting mission while maximizing your tax benefits. Did you know that a qualified charitable distribution from your IRA’s annual required minimum distribution can be structured to be tax-free? This means that the transferred amount is not taxable as long as it’s paid directly from the IRA to the charitable organization.
Intern Spotlight: Zahra Mammadova
May 31, 2024
Meet Zahra Mammadova
Originally from Azerbaijan, Zahra is currently pursuing a master's degree in Accounting, Technology, and Analytics at the University of Denver, and works hard to help Truth in Accounting complete our research and reports.
A Beacon of Hope Beyond Political Polarization: TIA’s Impact on the FDTA
May 30, 2024
Truth in Accounting's drive for financial transparency has gained significant traction, bolstered by a bipartisan push from Congress. In a compelling letter dated May 14, 2024, a bipartisan group of Congressional leaders, including Senators Mike Crapo and Mark Warner, Representatives Patrick McHenry and Maxine Waters, reached out to key financial regulators. Their message was clear: it's time to act swiftly on implementing the Financial Data Transparency Act (FDTA).
Get this in your e-mail. Subscribe below.