National debt over 4x greater than reported, accounting group says

By Therese Boudreaux – AOL.com

The U.S. Treasury says the national debt is roughly $39 trillion, but a nonpartisan accounting group estimates that the true number is $170.3 trillion.

Unlike the Treasury’s calculations, Truth in Accounting included all of the federal government’s unfunded obligations in its debt assessment, including unfunded promises like Social Security and Medicare benefits.

As of Sept. 30, 2025, the U.S. government had only $6.1 trillion on hand to pay for $176.3 trillion worth of incurred and promised liabilities, Truth in Accounting reports.