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Did You Get The Memo? We Are Broke 😱

Posted by Steve Eichler on March 24, 2026 at 6:13pm

31105958888?profile=RESIZE_400xThe Treasury’s quiet bombshell explodes in silence, and the media is strangely preoccupied. Why is that?  Get this. Last week, the U.S. Treasury Department released its consolidated financial statements for fiscal year 2025. Buried inside those dry, densely packed pages is a stark declaration: the federal government is insolvent. Not “in trouble.” Not “facing challenges.” Insolvent—by the government’s own accounting.

The numbers are jaw-dropping. As of September 30, 2025, the United States reported total assets of just $6.06 trillion. Against that stood $47.78 trillion in liabilities. That leaves a negative net position of $41.72 trillion—worse by nearly $2.07 trillion than the year before. Federal debt and interest payable alone jumped $2 trillion to $30.33 trillion. Federal employee and veteran benefits payable climbed another $438.8 billion to $15.47 trillion. Liabilities now dwarf assets by a factor of nearly eight.

And that’s before you open the off-balance-sheet books. The Statement of Social Insurance reveals $88.4 trillion in unfunded obligations for Social Security and Medicare over the next 75 years—an increase of $10.1 trillion in a single year, driven largely by exploding Medicare Part B shortfalls and rising Social Security gaps. Add those hidden liabilities to the official balance sheet, and total federal obligations exceed $136 trillion—roughly five times America’s annual GDP. The Treasury’s own long-term projections show the 75-year fiscal gap widening from 4.3 percent to 4.7 percent of GDP.

For the 29th straight year, the Government Accountability Office issued a disclaimer of opinion on the government’s financial statements. The auditors simply cannot sign off, citing chronic problems at the Pentagon and impossible-to-track interagency transactions.

Yet outside a handful of financial outlets, the story barely registered. Cable news chyrons stayed silent. Front pages stayed full of the usual partisan skirmishes. Why the hush-hush?

Part of the answer is structural. Consolidated financial statements are not designed for viral consumption. They sit on government websites in 100-plus-page PDFs full of accounting jargon. Most Americans—and most reporters—never read them. Trillions blur together; the human brain simply cannot picture that scale.

But there is more to the silence than complexity. Acknowledging insolvency forces uncomfortable truths that cut across party lines.

Look at it this way. Both Democrats and Republicans have spent decades expanding entitlements and promising benefits without fully funding them. Admitting the books don’t balance would require voters to confront trade-offs: higher taxes, slower benefit growth, or deeper spending cuts. That is political dynamite. It is far safer for newsrooms to chase daily outrage than to translate actuarial tables into household reality.

To make the crisis relatable, the Treasury’s own logic offers a simple translation: divide every figure by 100 million. The federal “household” then earns $52,446 a year but spends $73,378—running a $20,932 deficit. Its debts and unfunded promises total $1.36 million against only $60,554 in assets. It is $1.3 million in the hole and sinking fast. That is not sustainable. That is broke.

Congress has lost control. Interest on the debt already crowds out other priorities. Entitlement programs are on autopilot toward insolvency. The reckoning long deferred by borrowing and printing is now mathematically unavoidable.

Is there a ray of hope? Maybe. Fortunately, two concrete proposals sit in Congress right now. The bipartisan H.R. 3289, the Fiscal Commission Act, sponsored by Reps. Bill Huizenga and Scott Peters would create an independent commission to force a public reckoning and present Congress with an up-or-down vote on a rescue plan.

Complementing it is H.Con.Res. 15, (House Concurrent Resolution) real bill 15, which would call an Article V convention limited to proposing a fiscal-responsibility amendment modeled on Switzerland’s successful “debt brake.” That amendment would require balanced budgets over the business cycle and cap spending growth at the rate of economic growth.

These are not silver bullets, but they are the most credible path forward. The Treasury has handed Congress—and the public—the unvarnished truth. The only question left is whether lawmakers and the media will finally look the numbers in the eye before the household budget collapses entirely.

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Resources and links for content verification

All the key numbers in the article are accurate and directly sourced from the official U.S. Department of the Treasury’s Financial Report of the United States Government for Fiscal Year 2025 (covering the period ended September 30, 2025), released on March 19, 2026.

The report’s consolidated financial statements (and the full 245-page document) contain the exact figures, with only minor rounding in the article (e.g., $6.055 trillion shown as $6.06 trillion). Here is a precise sourcing for every major claim:

  • Total assets: $6.055 trillion (reported as $6,055.4 billion on the Consolidated Balance Sheet).
  • Total liabilities: $47.779 trillion (reported as $47,778.8 billion).
  • Negative net position: –$41.723 trillion (reported as $(41,723.4) billion). This was $2.074 trillion worse than the prior year’s –$39.649 trillion.
  • Federal debt and interest payable: $30.334 trillion (up ≈ $2.0 trillion / 7.0 % from $28.339 trillion).
  • Federal employee and veteran benefits payable: $15.472 trillion (up $438.8 billion / 2.9 % from $15.033 trillion).
  • Liabilities-to-assets ratio: ≈ 7.89× (liabilities are nearly eight times assets), exactly as stated.

Off-balance-sheet / Statement of Social Insurance (75-year open-group projections as of January 1, 2025): Present value of future expenditures in excess of revenues for Social Security + Medicare (Parts A, B, D) + other programs = $88.4 trillion (an increase of $10.1 trillion from the prior year’s $78.3 trillion). The jump was driven primarily by Medicare Part B shortfalls (+$6.9 trillion) and Social Security gaps.

Combined total obligations (reported liabilities + SOSI unfunded obligations) ≈ $136.2 trillion (article’s “exceed $136 trillion” and “roughly five times America’s annual GDP” are correct; nominal GDP was ≈ $30.6 trillion).

75-year fiscal gap: 4.7 % of GDP (widened from 4.3 % the prior year). This is the permanent increase in receipts or reduction in non-interest spending (as a share of GDP) needed to stabilize the debt-to-GDP ratio under current policy.

GAO audit opinion: For the 29th consecutive year, the Government Accountability Office issued a disclaimer of opinion on the consolidated financial statements. Reasons cited: material weaknesses at the Department of Defense, inability to reconcile intragovernmental transactions, and significant uncertainties in Medicare cost projections.

Main U.S. Treasury Financial Report (FY 2025)

These contain the exact balance sheet figures (assets $6.055T, liabilities $47.779T, net position –$41.723T), debt and benefits payable, Statement of Social Insurance ($88.4T unfunded obligations), and the 75-year fiscal gap (4.7% of GDP).

GAO Audit Disclaimer

  • GAO Report: Financial Audit of the FY 2025 and FY 2024 Consolidated Financial Statements (confirms the 29th consecutive disclaimer of opinion due to Pentagon issues, interagency transactions, etc.): https://www.gao.gov/products/gao-26-108073

Congressional Proposals

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  • John H Briggs March 26, 2026 at 12:48pm

    i SEE WHAT YOU WRITE.  i UNDERSTAND WHAT YOU WRITE.  NOW READ WHAT I WRITE.  YOU ARE HEARING AND READING OF AN IMPENDING DEPRESSION OF SORTS.  NEPHILIM WERE BEINGS THAT RESULTED FROM EVIL SPIRITS MATING WITH HUMAN FEMALES.  NEPHILIM STOOD 400 FEET AND MUCH HIGHER.  THEY WERE SO HUNGRY.  SO THEY ATE HUMANS.  THEY WERE DESTROYING MUCH.  GOD FLOODED THE EARTH WITH WATER TO KILL THEM ALL (NOAH).  THE NEPHILIM BODIES DIED BUT THEIR SPIRITS LIVED ON AND EVENTUALLY ENTERED HUMAN BODIES.  THIS CYCLE HAS CONTINUED TO THIS DAY.  MILLIONS OF HUMANS NOW HOUSE THIS NEPHILIM SPIRIT.  tHIS IS NOT THE ONLY EVIL SPIRIT WE HAVE, BUT IT IS THE MOST ACTIVE.  GOD SENT HIS SON TO SAVE US FROM OUR OWN SINS.  A TIME IS COMING WHEN THE FATHER WILL COME TO EARTH AND RID THE EARTH OF THOSE CONTAINING THIS SPIRIT.  BECAUSE SOME OF THESE PEOPLE ARE PILOTS, OR CONDUCTORS, OR OPERATORS, OR DRIVERS OF VARIOUS TRUCKS AND CARS, THERE WILL BE MILLIONS OF ACCIDENTS.  ALSO, SOME WILL DIE NATURALLY.  YOU WILL SEE THEIR DEAD BODIES CLOTHED.  BUT THE NEPHILIM FILLED PEOPLE YOU WILL NOT SEE.  THEIR CLOTHES WILL LIE IN A HEAP ON THEIR UNTIED SHOES.  IN ONE 24-HOUR PERIOD, GOD THE FATHER, HIMSELF, WILL OVE HIS RIGHT HAND AND WILL RID THIS EARTH OF THE NEPHILIM PEOPLE.  THE DEAD AND VANISHED TOGETHER WILL TOTAL APPROXIMATELY 77 MILLION.  THIS IS MORE DEAD THAN DIED IN WWII.  DO NOT TAKE MY WORD FOR IT.  WE HAVE KNOWN ABOUT THIS EVENT FOR THOUSANDS OF YEARS. iT IS KNOWN AS "THE GREAT AND TERRIBLE DAY OF THE LORD," OR "THE REVERSE RAPTURE."   READ THESE THREE ANCIENT REFERENCES.

    FROM THE PROPHET JOEL.  JOEL 2:31:  " 31 The sun shall be turned into darkness, and the moon into blood, before the great and terrible day of the Lord come."

    FROM DAVID (SHEPHERD, KING, PROPHET):  PSALM 37:10  Psalm 37:10 NIV  "37   A little while, and the wicked will be no more; though you look for them, they will not be found."

    FROM THE PROPHET ZEPHANIAH:  ZEPHANIAH 1:14-17: 

    "14 The great day of the Lord is near— near and coming quickly.  The cry on the day of the Lord is bitter;  the Mighty Warrior shouts his battle cry.

    15 That day will be a day of wrath— a day of distress and anguish, a day of trouble and ruin, a day of darkness and gloom, a day of clouds and blackness—
    16 a day of trumpet and battle cry against the fortified cities and against the corner towers.

    17 “I will bring such distress on all people that they will grope about like those who are blind, because they have sinned against the Lord  Their blood will be poured out like dust and their entrails like dung.

    KNOW THIS!  JOEL SET THE CONDITIONS: 31 The sun shall be turned into darkness, and the moon into blood, before the great and terrible day of the Lord come."  WE HAD A SOLAR ECLIPSE ON FEBRUARY 1, 2026.  WE HAD A BLOOD MOON ON MARCH 3 WHICH WAS ALSO THE FIRST DAY OF THE JEWISH NEW YEAR, A HOLIDAY!"  WHEN THIS 24-HOUR PERIOD CONCLUDES, IT WILL BE FOLLOWED BY SEVEN YEAR OF GREAT PROSPERITY FOR PRACTICING CHRISTIANS AND PRACTICING JEWS.  WHAT NATIONAL DEBT?  WHAT SOCIAL PROGRAM OVERLY EXTENDED.  

    • Jea9 > John H Briggs March 26, 2026 at 3:12pm

      Echoed also by Enoch, scribe of God. Chapter. 1:9-10.  And many more in Enoch.

      "And behold! He cometh with ten-thousands of His holy ones to execute judgement upon all, and to destroy the ungodly: and to convict all flesh of the works of their ungodliness, which they have ungodly committed, and of all the hard things that ungodly sinners have spoken about Him."

      1 Enoch 1:9-10. "The words of the blessing of Enoch, wherewith he blessed the elect and righteous, who will be living in the day of tribulation, when all the wicked are to be removed. And he took up his parable and said, "Enoch a righteous man whose eyes were opened by God, saw the vision of the Holy One in the heavens which the angels showed me, and from them I heard everything, and from them I understood as I saw, but not for this generation, but for a remote one which is for to come."   And more. And coincides with what John wrote above about the wicked not being found. 

      Enoch is part of the original Ethiopian Bible (scrolls), kept along with the Dead Sea Scrolls in the Qumran Caves in Ethiopia, which has always had a long and faithful Christian faith. Enoch's scrolls were faithfully copied and re-copied, generation after generation. Copied more than the other scrolls in the same caves.

      Enoch was 7th from Adam, was called the Scribe of God, was a Prophet of God. He gave the petition of the fallen ones to God, who rejected it.  Enoch was quoted by Jesus, Jude and the Apostles. And Enoch never tasted death.

      Enoch never died, but, was translated. Only Enoch and Elijah 'never tasted death.' 
      Enoch also is described as "He walked with God for over 300 years." Only Enoch and Noah are described as "walking with God." Moses saw God F2F but is not universally described as 'walking with God.' 

      The roman empire took out Enoch, because it turns the Bible into a script that understands fully well—that the fallen ones' spirits from hell, are bound to this earth (by God) and therefore are still inhabiting the deep state evil monsters, such as some running our government agencies. Try Fauci and you get the idea. Try Gates, Clintons. Bush's. Have at it. That is why everything we are witnessing is both political and spiritual except spiritual is supposed to be (understood) as 1st. It is the only way to understand why we are witnessing what has been hell-bent on destroying, not only Christianity, but freedom and America, as the top of the totem pole and lynchpin for Freedom. 

      As John states, those spirits are still here. Enoch specifically states that those evil spirit descendants from the fallen angels are BOUND to this earth. That understanding, if the passive church knew, might get them up off of their ......... and declare war on these demons. And I do not mean voting is the answer to that premise. That is the political, not the spiritual realm. We are supposed to be operating in two realms. 

    • Steve Eichler > John H Briggs March 26, 2026 at 2:11pm

      Thank you, John. Yes, I read the verses and read what you had to say. We are living in troubling times! 

    • John H Briggs > Steve Eichler March 26, 2026 at 5:33pm

      And I thank you, Steve!

  • David Faulkner, COL, USA(r) March 25, 2026 at 1:22pm

    The United States of America was founded on individual responsibility and self-reliance; however, we strayed from that foundation with the creation of Social Security (1935), SNAP (1964), Head Start (1965), Medicare and Medicaid (1965), Elementary and Secondary Education Act (1965), Higher Education Act (1965), HUD Act (1965), Water Quality Act (1965), Model Cities Program (1966), CHIP (1997), ObamaCare (2010), and a plethora of other freebie welfare programs that disinsentivized the nuclear family, individual responsibility and self-reliance.  Social Security spending is $1.5 trillion/year, Medicare spending is $1.12 trillion/yr, Medicaid (federal share) spending is $630 billion/yr, ObamaCare spending is $125 billion/yr, and the other means-tested welfare program spending is $950 billion/yr for a total of $4.325 Trillion/yr.  Considering the the US Federal Government revenues for 2024 totaled $4.9 Trillion while MANDATORY spending for all of the above equaled $4.325 Trillion, that only leaves $575 billion for Congress to appropriate for DISCRETIONARY requirements like DEFENSE, Homeland Security, State, Justice and Federal Law Enforcement, and other programs which the US Constitution mandates as the responsibility of the US Federal Government.  However, we all know that $575 billion won't provide enough resources for these Constitutional Responsibilities, thus the Congress must borrow another $1.8 Trillion/yr to pay for Constitutional requirements AND service the National Debt.  Servicing the National Debt cost $1.1265 Trillion in FY2024 alone which means 62.6% of the money the US Government borrowed went to service the National Debt.  Taken together, the US Federal Government is spending $6.85 Trillion/yr with $4.325 Trillion/yr (63%) going to Mandatory Social Programs, $1.1265 Trillion/yr (18.5%) going to Debt Servicing, and $1.4 Trillion/yr (20.4%) to Discretionary US Constitutional Responsibilities, while borrowing $1.8 Trillion/yr or 26.3% of total spending to make ends meet.  The problem is NOT how much we spend on DISCRETIONARY US Constitutional Responsibilities which the Congress spends months grieving over each year but how much we are spending on MANDATORY Social Programs which the Congress never discusses.  If we are to SAVE our REPUBLIC, we MUST pressure the Congress to get MANDATORY Social Program spending under control and to drastically reduce these programs which have done nothing but destroy the nuclear family and produce a nation of overweight, lazy, and ignorant buffoons.  If the Social Welfare State is ended in the United States of America, our nation will return to God (YHWH), our taxes will drop like a rock, and we will once again have a healthy and prosperous nation!!!

  • Paul Simmon March 24, 2026 at 8:13pm

    Steve, are you sure these numbers are correct? I don't quite believe them because President Trump promised that he'll balance the budget and pay down the debt. To that effect he had congress pass the One Big Beautiful Bill Act that the demonrats opposed 100% on party line. Their opposition alone tells you that the OBBBA was a great move. All this makes me wonder whether the numbers you post here are true. A successful business man like President Trump would never preside over such deterioration in our finances. 

    • Steve Eichler > Paul Simmon March 25, 2026 at 2:31pm

      I also adjusted the article with the content verification data at the bottom. 

    • Steve Eichler > Paul Simmon March 25, 2026 at 2:24pm

      Here are my resources with the links. 

      All the key numbers in the article are accurate and directly sourced from the official U.S. Department of the Treasury’s Financial Report of the United States Government for Fiscal Year 2025 (covering the period ended September 30, 2025), released on March 19, 2026.

      The report’s consolidated financial statements (and the full 245-page document) contain the exact figures, with only minor rounding in the article (e.g., $6.055 trillion shown as $6.06 trillion). Here is a precise sourcing for every major claim:

      • Total assets: $6.055 trillion (reported as $6,055.4 billion on the Consolidated Balance Sheet).
      • Total liabilities: $47.779 trillion (reported as $47,778.8 billion).
      • Negative net position: –$41.723 trillion (reported as $(41,723.4) billion). This was $2.074 trillion worse than the prior year’s –$39.649 trillion.
      • Federal debt and interest payable: $30.334 trillion (up ≈ $2.0 trillion / 7.0 % from $28.339 trillion).
      • Federal employee and veteran benefits payable: $15.472 trillion (up $438.8 billion / 2.9 % from $15.033 trillion).
      • Liabilities-to-assets ratio: ≈ 7.89× (liabilities are nearly eight times assets), exactly as stated.

      Off-balance-sheet / Statement of Social Insurance (75-year open-group projections as of January 1, 2025): Present value of future expenditures in excess of revenues for Social Security + Medicare (Parts A, B, D) + other programs = $88.4 trillion (an increase of $10.1 trillion from the prior year’s $78.3 trillion). The jump was driven primarily by Medicare Part B shortfalls (+$6.9 trillion) and Social Security gaps.

      Combined total obligations (reported liabilities + SOSI unfunded obligations) ≈ $136.2 trillion (article’s “exceed $136 trillion” and “roughly five times America’s annual GDP” are correct; nominal GDP was ≈ $30.6 trillion).

      75-year fiscal gap: 4.7 % of GDP (widened from 4.3 % the prior year). This is the permanent increase in receipts or reduction in non-interest spending (as a share of GDP) needed to stabilize the debt-to-GDP ratio under current policy.

      GAO audit opinion: For the 29th consecutive year, the Government Accountability Office issued a disclaimer of opinion on the consolidated financial statements. Reasons cited: material weaknesses at the Department of Defense, inability to reconcile intragovernmental transactions, and significant uncertainties in Medicare cost projections.

      Main U.S. Treasury Financial Report (FY 2025)

      These contain the exact balance sheet figures (assets $6.055T, liabilities $47.779T, net position –$41.723T), debt and benefits payable, Statement of Social Insurance ($88.4T unfunded obligations), and the 75-year fiscal gap (4.7% of GDP).

      GAO Audit Disclaimer

      • GAO Report: Financial Audit of the FY 2025 and FY 2024 Consolidated Financial Statements (confirms the 29th consecutive disclaimer of opinion due to Pentagon issues, interagency transactions, etc.): https://www.gao.gov/products/gao-26-108073

      Congressional Proposals

    • Steve Eichler > Paul Simmon March 25, 2026 at 2:18pm

      Based on my research, these numbers are accurate. Yes, Trump got the BBB passed, but what he inherited is a runaway train with no engineer at the wheel and no speed limits or working brakes! 

      I wish I was wrong. 

    • Paul Simmon > Steve Eichler March 25, 2026 at 6:53pm

      Steve, what you are saying is that nothing matters. We are doomed and President Trump can't even help us no matter how much he promised us that he would eliminate the budget deficit, pay down the debt, and make America great again. 

This reply was deleted.