(Just The News)—A congressional watchdog says it is again unable to determine if the federal government’s financial statements are reliable.
The federal government reported net costs of $7.4 trillion in fiscal year 2024, but it couldn’t fully account for its spending. The U.S. Government Accountability Office, which is Congress’s research arm, said that the federal government must address “serious deficiencies” in federal financial management and correct course on its “unsustainable” long-term fiscal path.
U.S. Comptroller General Gene Dodaro, head of the GAO, said many of the challenges are a result of financial management problems within the U.S. Department of Defense. The Pentagon previously said it will be able to accurately account for its spending by 2027.
“The federal government has again come up short in managing its finances and achieving a clean audit due to challenges in adequately supporting its costs, revenues, assets and liabilities,” Dodaro said in a statement. “These serious financial management weaknesses and unsustainable long term fiscal path further underscore the need for urgent attention, accountability, and transparency.”
The report noted three major problem areas: “serious financial management problems” at the Department of Defense; the federal government’s inability to adequately account for intragovernmental activity and balances between federal entities, and “weaknesses in the federal government’s process for preparing the consolidated financial statements.”
Dodaro said the federal government has made progress, but still has work to do.
“To ensure our readiness as a nation to confront both domestic and international challenges, it’s imperative for Congress and the executive branch to come together and craft a plan for long-term fiscal sustainability,” he said.
Congress has run a deficit every year since 2001. In the past 50 years, the federal government has ended with a fiscal year-end budget surplus four times, most recently in 2001.
President-elect Donald Trump has promised to cut “hundreds of billions” in federal spending in 2025 through the reconciliation process. Trump’s hand-picked leaders for the newly created Department of Government Efficiency have also promised to cut spending. DOGE co-leader and Tesla boss Elon Musk initially suggested DOGE could cut $2 trillion in spending. Musk more recently said the group will aim for $2 trillion, but likely come up with half that amount.
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Safeguarding Your American Dream: Discover the Power of America First Healthcare
In today’s economy, healthcare costs remain one of the biggest threats to financial stability and family security. Americans work hard to build a better life, yet rising medical expenses can quickly erode savings, force tough trade-offs, and even push families toward debt or bankruptcy. Medical bills continue to rank as the leading cause of personal bankruptcy in the United States, with millions facing underinsurance or unexpected out-of-pocket burdens that no one plans for. Many turn to government-run marketplace plans under the Affordable Care Act, hoping for relief, only to discover that what appears affordable on paper often delivers higher long-term costs, limited real protection, and coverage that may not align with personal values or family needs.
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The allure of marketplace plans is easy to understand: open enrollment periods, premium tax credits for many households, and the promise of “comprehensive” benefits mandated by law. Yet recent data reveals a different reality, especially after the expiration of enhanced premium subsidies at the end of 2025. Enrollment for 2026 dropped by more than one million people compared to the prior year, with many shifting to lower-tier bronze plans to keep monthly premiums manageable.
These plans feature significantly higher deductibles—averaging around $7,500 nationally—and greater cost-sharing requirements. Families who once paid modest amounts after subsidies now face average premium increases of $65 or more per month, even as they accept plans that leave them responsible for thousands in upfront costs before meaningful coverage kicks in.
High deductibles create a dangerous barrier to care. Studies show that people in such plans are less likely to seek timely treatment for chronic conditions, attend preventive screenings, or fill necessary prescriptions. A seemingly minor illness or injury can balloon into major expenses when patients delay care until problems worsen. For a family of four, a single hospitalization, cancer diagnosis, or unexpected surgery can easily exceed the deductible, triggering coinsurance and out-of-pocket maximums that still leave substantial bills. One recent analysis noted that some proposed changes could push family deductibles toward $31,000 in future years, further exposing households to financial risk.
Beyond the numbers, marketplace plans often carry structural limitations. Coverage for certain critical services may include waiting periods or narrower networks that restrict access to preferred doctors and specialists. Preventive care is required to be covered without cost-sharing, but everything else—lab work, imaging, specialist visits, or ongoing treatment—typically waits until the deductible is met. This reactive model contrasts sharply with the proactive, holistic approach many families prefer, especially those focused on wellness, early intervention, and maintaining health to enjoy life rather than merely reacting to illness.
Values alignment represents another growing concern. Government-influenced plans operate within a framework shaped by federal mandates and political priorities that may not reflect conservative principles of limited government, personal freedom, and ethical stewardship. Families who want to direct their healthcare dollars toward providers and benefits that honor traditional values sometimes find marketplace options feel misaligned, forcing a compromise between affordability and conviction.
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In an era when healthcare inflation continues to outpace general cost-of-living increases, relying solely on marketplace solutions carries growing risk. Families who proactively explore private alternatives frequently achieve meaningful savings while gaining peace of mind that their coverage truly works when needed most.
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Ultimately, protecting your family’s future requires looking beyond the marketing of “affordable” government options. By understanding the long-term costs hidden in high deductibles, shifting coverage tiers, and values mismatches, Americans can make empowered choices. Private, values-driven insurance offers a smarter path—one that rewards diligence, supports wellness, and delivers real security. For those ready to move beyond the limitations of traditional marketplace plans, a simple review can reveal options designed to serve families, not bureaucracies. The American Dream thrives when individuals and families retain control over their healthcare decisions, and thoughtful private coverage plays a vital role in making that possible.