Public Wealth in the United States

We analyze the US public sector balance sheet and project it forward under the assumption thatcurrent policies remain in place. We first document the history of the balance sheet and itscomponents since World War II, with a detailed account of its evolution during and afterthe global financial crisis. While, based on assets and liabilities alone, public sector networth is negative, additional challenges arise from commitments to future spending impliedby current legislation and demographic trend