JUST IN: The Treasury Department's consolidated financial statements for fiscal year 2025 have reignited the debate about the health of U.S. public finances.

The figures show a sharp deterioration in net worth, increased liabilities, and a surge in unfunded obligations related to Social Security and Medicare, while legislative proposals to impose fiscal discipline are resurfacing.
The Treasury reported $6.06 trillion in assets and $47.78 trillion in liabilities as of September 30, 2025.