The 2023 Financial Report of the United States Government identifies total federal liabilities of 42.9trillionasofSeptember30,2023,markinga1026.4 trillion comprised 62% of these liabilities. Federal employees��� accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees��� expected Social Security and Medicare benefits ��� an additional 36.5trillioninliabilities.Together,theofficialliabilitiespluscurrentretirees���accruedSocialSecurityandMedicarebenefitstotal79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt���s share of GDP
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