I Just Found the Most Amazing, Honest, and Complete Report on US Government Finances

It’s the most apolitical information coming out of Washington.

Color me shocked and awed. (Photo by Andrea Piacquadio from Pexels)

I just found the most amazing thing.

The United States government, specifically the Bureau of Fiscal Services, which is part of the Department of the Treasury, creates and publishes an annual report on the overall financial state of federal government operations: The Financial Report of the United States Government.

Why is this report so amazing?

• It carries no message other than what the numbers are saying.
• It’s a brutally honest, eye-opening report that takes away all the political spin, putting the actual revenue and spending amounts in stark relief.
• It’s reporting that is held to the same standard that private industry is held to, which is enforced by the Securities and Exchange Commission.

Before we dive in and see what goodies we can find, we need to be crystal clear on something.

The Financial Report is Not the Budget

So often, we hear about the budget, whether there is surplus (yeah, right) or a deficit, and how tax codes will change revenues. The budget is basically…