Uncle Sam Is $136 Trillion in the Hole — And San Joaquin County Is Already Feeling It

The U.S. Treasury's own FY 2025 financial statements reveal $6.06 trillion in assets against $47.78 trillion in liabilities — a negative net position of $41.72 trillion. Including off-balance-sheet obligations for Social Security and Medicare, total federal commitments exceed $136.2 trillion. Social Security faces trust fund depletion as early as 2032. Medicare's Hospital Insurance fund is projected to run dry in 2033. And San Joaquin County is already facing $50.9 to $76.9 million in annual revenue losses from H.R. 1 alone.