Treasury Department reports $1.2 TRILLION loss in 2017
By Simon Black - February 28, 2018


Earlier this month, the United States government released its annual financial report for the year 2017.

This is something the government does every year, similar to how large companies like Apple, or Warren Buffett’s Berkshire Hathaway, publish their own annual reports.

Unlike Berkshire and Apple, though, whose financial reports typically show strong, positive results, the US government’s financial statements are a complete horror show.

Right at the beginning of the report, the government explains that it’s “net loss” for the year was an unbelievable $1.2 TRILLION.

Read that number again.

$1.2 trillion. That’s simply staggering.

It’s larger than the size of the entire Australian economy… and constitutes a loss of more than $2.2 million per minute.

This is not a conspiracy theory or irrational fantasy.

This is the Treasury Secretary of the United States of America publicly announcing that the federal government lost $1.2 trillion on page ‘i’ of its annual financial report.

What’s even more alarming is that 2017 was a great year.

There was no war. No recession. No epic financial crisis.

In his introductory letter, in fact, the Treasury Secretary proudly stated that “[t]he country enjoyed a pick-up in [economic] growth in 2017. Unemployment is at its lowest level since February 2001, consumer and business confidence are at two-decade highs, and inflation is low and stable.”

In short, everything was awesome in 2017.

Even the government’s overall revenue was a record high $3.3 trillion for the year.

Yet despite all that good news… despite all those positive developments and record revenue… they STILL managed to lose $1.2 trillion.

If the government loses $1.2 trillion in a GOOD year, how much do you think they’ll lose in a BAD year? How much will they lose when they actually do have a recession to fight? Or another war. Or a major banking crisis?

More importantly, how long can something so unsustainable possibly last?

But the fun doesn’t stop here.

Further in the report, the government reviews its own assets and liabilities… effectively calculating its “net worth”.

It’s just like how an individual might calculate his/her own net worth– you add up the value of your assets, like your home, car, and bank account balances. Then subtract liabilities like mortgage and credit card debt.

The end result is your net worth. And hopefully it’s positive.

The government’s is hopelessly negative: MINUS $20.4 trillion. (See page 55 of the report.)

And that’s worse than its result from the previous year’s MINUS $19.3 trillion– meaning that the government’s net worth decreased by about 6% year over year.

To be clear, a net worth of negative $20.4 trillion means that the government added up the values of ALL of its assets. Every tank. Every aircraft carrier. Every acre of land. Every penny in the bank.

And then subtracted its enormous liabilities, like the national debt.

The difference is negative $20.4 trillion, i.e. the government has far MORE liabilities than it has assets.

If the government were a business, it would have gone bankrupt long, long ago.

On top of that, though, the government separately calculated its long-term liabilities from Social Security and Medicare.

As we frequently discuss, both Social Security and Medicare are running out of money.

And according to the government’s own calculations (on page 58), the “total present value of future expenditures in excess of future revenue” for Social Security and Medicare is MINUS $49 TRILLION.

Essentially this means that the two largest and most important pension and healthcare programs in the United States are insolvent by nearly $50 trillion.

Altogether, the government is in the red by almost $70 trillion.

It’s remarkable that this is not front page news.

There has not been a single utterance from mainstream media about the pitiful, dangerously unsustainable finances of the federal government.

I’m certainly not suggesting that the sky is falling, or that there’s some imminent disaster that will strike tomorrow morning.

But any rational person needs only look to the pages of history to find dozens of examples of once dominant powers who were crippled by their excessive debts.

It may take several years to feel the full impact. But it would be utterly foolish to believe that this time is different.


You don’t have to play by the rules of the corrupt politicians, manipulative media, and brainwashed peers.

When you subscribe to The Daily Bell, you also get a free guide:

How to Craft a Two Year Plan to Reclaim 3 Specific Freedoms.

This guide will show you exactly how to plan your next two years to build the free life of your dreams. It’s not as hard as you think…

Identify. Plan. Execute.

Yes, deliver THE DAILY BELL to my inbox!


Biggest Currency Reboot in 100 Years?
In less than 3 months, the biggest reboot to the U.S. dollar in 100 years could sweep America.
It has to do with a quiet potential government agreement you’ve never heard about.

Tagged with: , ,
  • DrRGP

    I have followed this problem–out-of-control public debt and taxpayer liability–for years and still have no earthly idea as to how it all will end, except badly, very badly.

    • Ephraiyim

      Initially. Eventually, esp if the govt completely failed as well, people would figure out how to make it work through barter, metals ect.
      Might tale us a generation or so but people are pretty bright, well a lot are. 😉
      Would be pretty tough at first but even in the midst of it some would be the pacesetters or pioneers in adapting to the new paradigm.

  • LawrenceNeal

    What they mean is, they printed worthless paper to the tune of 1.2T. As far as the ‘National Debt’, this is owed to the Federal Reserve Counterfeiting Cartel, and should be written off. Since these are the people that OWN the so-called ‘government’, it won’t be. How much could be saved by recalling the military inside of our borders and downsizing appropriately? Doesn’t fit the .001% Elite’s plan. And it IS a plan, and it is all under control. The Elite’s control.

    • Ephraiyim

      They can’t write it off. That debt is, in part, being collected on the interest owed on treaties that go back to before the Constitution which said document states clearly.
      It also includes other debts that were there taken on prior to the formation of the Fed Reserve.
      FR is basically the collection agency for the Queen of England, the Rothschilds as well as several others including owners of the FR.
      The only way to eliminate it would be to go back to the Bible that commanded that all debts were to be forgiven every 70 yrs.
      That would mean all personal, govt and other debts. A total reset of the entire economy.
      It could be done but the politicians don’t have the cojones. Crap, they couldn’t even agree on simple tax cuts.

      • LawrenceNeal

        Yes, a Jubilee. I think in ancient Israel, it was every 12 years, but I could be wrong. Politicians are front men for the illusory ‘government’. It’s all about control through debt slavery.

        • Ephraiyim

          7 or 12 I think for some things but the 40th yr was when even property you had sold would be returned.
          All property was privately owned, at least before King Saul. It was a part of the distribution to the individual tribes and families in those tribes. It could only be sold for and up to the next 40 yr jubilee.
          Essentially a way for say a widow to continue to provide something for her family after her husbands death. But it returned to her, her children or the nearest kin if she died and her children from that husband died.
          At least that’s the way I understand it at this time. It was very ordered and understood then not so much now even among the current Jews.
          How that would work out in this nation would have to be formulated. So…even though I think it would be the best option not so sure I would trust our current form of govt to do it fairly.

      • SnakePlissken

        The IRS is the collection agency for the Federal Reserve.

  • SnakePlissken

    Interesting that there is a big push for gun control at the same time the gubmint is going bankrupt..

  • SnakePlissken

    Do not concern yourself with these trivial issues. Go back to your cable TV and Nascar and get hysterical about people not using politically correct gender pronouns.

    • snow27

      Snake, I don’t think pc’ers watch Nascar. More like the yoga channel.

  • SnakePlissken

    The gubmint will deal with the same way every other gubmint does.. by inflating the currency. That’s why China is buying less US debt and hoarding gold. Learn Mandarin so you can be an indoor slave.