Making America's Audited Annual Report Understandable
Helping people around the world understand the financial position, condition, and bottom line of the U.S. Government.
“The Financial Report of the United States Government is one of the best-kept secrets in America.”
— Former Congressman Jim Cooper
He’s right.
Every year, the federal government publishes audited financial statements, similar to a publicly traded corporation. Very few know it exists, and fewer understand it. My mission is to help people understand what the statements reveal and the repeated warnings.
Michael Doorley, CPA, is an educator and advocate for federal financial civics. His mission is to help the media, students, engaged citizens and others understand what the Financial Report of the United States Government reveals and the repeated warnings.
Economists, politicians, and the media generally discuss federal government finances through the lens of a cash budget—the "deficit." CPAs and accountants generally analyze organizations through complete financial statements. Michael's work focuses on bringing the U.S. government's complete financial statements thinking to the national conversation.
Michael Doorley, CPA
A Certified Public Accountant with decades of business experience, Michael has dedicated his speaking and writing career to demystifying the Financial Report of the U.S. Government and its implications for everyday Americans and civic and corporate leaders.
"The U.S. government publishes a full financial report every year. Almost no one reads it. Michael Doorley does — and he'll explain it to your audience."
“America has two deficits — the one we hear about is not the Bottom Line.”
— Michael Doorley, CPA
“The federal budget is not the federal financial statement.”
— Michael Doorley, CPA
“Every publicly traded company issues financial statements. The federal government does too.”
— Michael Doorley, CPA
The Source Document
Financial Report of the United States Government
Fiscal Year 2025 · U.S. Department of the Treasury
The Topic
What Is the Financial Report of the United States Government?
Every year, the U.S. Department of the Treasury in coordination with the Office of Management and Budget produces a comprehensive, audited financial report — a document that details the federal government's assets, liabilities, net position revenues, costs and bottom line. It is arguably the most complete picture of America's fiscal health that exists.
The problem? It is dense, technical, and rarely discussed by the media, the administration, elected representatives, or others in public life. Michael Doorley has spent years studying this report and translating it into language that any engaged citizen can understand.
"The Secretary of the Treasury, the Director of OMB, and the Comptroller General of the United States at the Government Accountability Office (GAO) believe that the information discussed in the Financial Report is important to all Americans."
— Executive Summary, Financial Report of the United States Government, Fiscal Year 2025
What Audiences Learn
Key Themes from Michael's Presentations
The Widely Quoted Budget Deficit is not the "Bottom Line!"
Revenue, Spending, and the "Bottom Line"
Where the money comes from, where it goes, and the Bottom Line.
The Balance Sheet
Assets, liabilities, and net position — the government's balance sheet tells a story that the budget deficit alone never can.
Liabilities, Commitments and Obligations
National Debt, Pensions and Benefits, Social Security, Medicare, and other obligations that don't appear in the headline debt figure — but matter enormously.
The National Debt — What It Really Means
Beyond the headline number: how the debt is structured, who holds it, and what it means for future generations of Americans.
Long-Term Fiscal Sustainability
What the government's own financial statements say about the long-term trajectory — and why every citizen deserves to understand the picture they paint.
Bring Michael to Your Organization
Whether you're a civic association, community foundation, professional organization or corporation — Michael's presentation is designed to inform, engage, and inspire everyday Americans who care about their country's financial future.
Speaking engagements are available for civic groups, community organizations, educational institutions, professional associations and corporate audiences worldwide.
Or email directly: [email protected]
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