The financial statement of the United States of America was released on December 15. The best explanation I have seen can be found here. The report is put out by David Walker the Comptroller of the United States of America. I have seen him speak on CSPAN and he is very direct about the state of our national finances.
The hypocrisy that is Congress, never ceases to amaze me. The Sarbanes-Oxley legislation is meant to prevent another Enron, mean while Congress continues keep 53 Trillion dollars of debt ‘off balance sheet’, something a public company could now never do. The future doesn’t look to bright.