GAAP Deficit-current
December 1, 2020
usdebtclock.org has stopped explicitly reporting the GAAP Deficit because it is almost impossible to predict the GAAP basis deficit spending of the U.S. Government. My estimate of the GAAP Deficit for FY2021 is a simple extrapolation of the GAAP Deficit to date to a projection for the full fiscal year. If/when the U.S. Government approves more economic stimulus, this projection will be very erratic! The change in US Unfunded Liabilities (GAAP) so far in FY2021 indicates that the GAAP Deficit in FY2021 will be about $6.57 Trillion. The following table shows the change in US Unfunded Liabilities (GAAP) since the start of FY2021 on October 1, 2020.
US Unfunded Liabilities (GAAP)
| October 1, 2020 |
$154.7 Trillion |
| December 1, 2020 |
$155.8 Trillion |
| GAAP Deficit to date |
$1.1 Trillion |
GAAP Deficit/day = ($155.8T - $154.7T)/61 days) = $18.0 Billion/day
GAAP Deficit in FY2021 = GAAP Deficit/day*365 = $6.57 Trillion/year
| US National Debt |
$27.3 Trillion |
| Cash Deficit in FY2021 |
$3.21 Trillion |
| GAAP Deficit in FY2021 |
$7.30 Trillion |
| US Unfunded Future Liabilities |
$128.5 Trillion |
| US Unfunded Liabilities (GAAP) |
$155.8 Trillion |
| Imaginary-Counterfeit Money |
$155.8 Trillion |
| US Total National Assets |
$157.5 Trillion |
Source: www.usdebtclock.org December 1, 2020
End of commentary