Financial Report of the US Government Fiscal Year 2015

The annual Financial Report of the U.S. Government provides the public a comprehensiveoverview of the Government's current financial position, as well as critical insight into our longterm fiscal outlook. The Fiscal Year 2015 Financial Report reflects that the Nation's financescontinue to benefit from the strengthening economy.Since President Obama took office seven years ago, the Nation has made considerable progressin coming back from the worst recession since the Great Depression, and this Administration'sagenda continues to improve the Nation's finances. Throughout the country, businesses areadding jobs, and wages and salaries have increased. The unemployment rate has been cut in halfsince peaking in 2009, and more Americans have access to affordable health care than everbefore. And in the face of headwinds in the global economy, the world is counting on thecontinued strength of the U.S. economy.In Fiscal Year 2015, the Nation's economic gains contributed to increased revenue and reducedthe deficit by $44.5 billion. The Government's net operating cost decreased by more than a thirdfrom last year. And the Government's estimated long-term fiscal gap continues to be reducedby the provisions of the Affordable Care Act of 2010, Budget Control Act of 2011, and theAmerican Taxpayer Relief Act of 2013. These and other measures have put our country on solidfiscal footing for the next decade, securing us the time necessary to address our longer-termchallenges.To keep on the path of long-term fiscal sustainability, we must make important investments ineducation, infrastructure, and innovation that keep our economy strong, and we must create newopportunities so that our growth is broadly shared by all Americans. Through these efforts, I amconfident that we can lay the foundation for durable economic growth and broadly sharedprosperity.Jacob J. LewFebruary 25, 2016