Government finances macro thread

Federal debt, deficit, receipts, expenditures, and government-demand indicators from Treasury, OMB, BEA, and FRED public data.

As of: 2026-03-02. Related topic page: /skills/government-finances.html.

This page is a data-driven assembly of existing grepcent indicators, SIC crosswalks, SEC company financials, and sanitized SEC MD&A text. The mapped sectors are grepcent descriptive editorial mappings, not forecasts, recommendations, or investment advice. Company inclusion is mechanical - largest by revenue in the mapped SIC sectors - and is not a recommendation, endorsement, or an assessment of any company's exposure to this theme.

Sector mapping is coarse (SIC level) and does not imply a company's business is driven by this theme; keyword matches are literal and may be incidental - read the linked filing for context.

Macro Side

Indicator	Latest Reading	Units	As Of	Source
GCE - Government Consumption Expenditures and Gross Investment	5416.4	Billions of Dollars, seasonally adjusted annual rate	2026-01-01	FRED source
GFDEBTN - Federal Debt: Total Public Debt	3.8514e+07	Millions of Dollars	2025-10-01	FRED source
GFDEGDQ188S - Federal Debt: Total Public Debt as Percent of Gross Domestic Product	122.568	Percent of GDP	2025-10-01	FRED source
FYFSD - Federal Surplus or Deficit	-1.77468e+06	Millions of Dollars	2025-09-30	FRED source
FGRECPT - Federal Government Current Receipts	5872.95	Billions of Dollars, seasonally adjusted annual rate	2026-01-01	FRED source
FGEXPND - Federal Government: Current Expenditures	7678.99	Billions of Dollars, seasonally adjusted annual rate	2026-01-01	FRED source

Mapped SIC Sectors

Mapped from the existing topic crosswalk, refined where needed to SIC major-group scope for company selection.

Finance, Insurance, And Real Estate SIC division H
Services SIC division I
Manufacturing SIC division D

Largest Companies in Mapped Sectors (by revenue)

Companies are selected from the mapped SIC sectors and sorted by latest reported annual revenue (from SEC companyfacts). Missing metrics are left blank. MD&A signals are keyword matches against the sanitized latest 10-K MD&A text. Keywords scanned: government spending, federal debt, federal deficit, public sector, government contracts.

Company	Revenue	FY	Net Margin	Operating Margin	Revenue Growth	MD&A Mentions	Verbatim MD&A Excerpt
UNH - UNITEDHEALTH GROUP INC	447,567,000,000	2025	2.69%	4.24%	11.81%		No keyword match found in emitted latest 10-K MD&A.
AAPL - Apple Inc.	416,161,000,000	2025	26.92%	31.97%	6.43%		No keyword match found in emitted latest 10-K MD&A.
GOOGL - Alphabet Inc.	402,836,000,000	2025	32.81%	32.03%	15.09%		No keyword match found in emitted latest 10-K MD&A.
BRK-B - BERKSHIRE HATHAWAY INC	371,444,000,000	2025	18.03%		0.00%		No keyword match found in emitted latest 10-K MD&A.
XOM - EXXON MOBIL CORP	332,238,000,000	2025	8.68%		-4.96%		No keyword match found in emitted latest 10-K MD&A.
MSFT - MICROSOFT CORP	281,724,000,000	2025	36.15%	45.62%	14.93%		No keyword match found in emitted latest 10-K MD&A.
CI - Cigna Group	274,900,000,000	2025	2.17%	3.35%	11.24%		No keyword match found in emitted latest 10-K MD&A.
NVDA - NVIDIA CORP	215,938,000,000	2026	55.60%	60.38%	65.47%	public sector	We refer to indirect customers as those who purchase products through our direct customers; indirect customers include CSPs, Neocloud builders, AI model makers, enterprises, and public sector entities. Verbatim sentence from NVDA latest 10-K MD&A, filed 2026-02-25; 0001045810-26-000021.
META - Meta Platforms, Inc.	200,966,000,000	2025	30.08%	41.44%	22.17%		No keyword match found in emitted latest 10-K MD&A.
ELV - Elevance Health, Inc.	199,125,000,000	2025	2.84%	3.62%	12.49%		No keyword match found in emitted latest 10-K MD&A.
CNC - CENTENE CORP	194,777,000,000	2025	-3.43%	-3.91%	19.44%	government contracts	These factors include significant changes in membership, financial performance, state funding, government contracts and provider networks and contracts. Verbatim sentence from CNC latest 10-K MD&A, filed 2026-02-17; 0001071739-26-000049.
CVX - CHEVRON CORP	189,031,000,000	2025	6.51%		-6.79%		No keyword match found in emitted latest 10-K MD&A.
F - FORD MOTOR CO	187,267,000,000	2025	-4.36%	-4.90%	1.23%		No keyword match found in emitted latest 10-K MD&A.
GM - General Motors Co	185,019,000,000	2025	1.46%	1.57%	-1.29%		No keyword match found in emitted latest 10-K MD&A.
JPM - JPMORGAN CHASE & CO	182,447,000,000	2025	31.27%		2.75%		No keyword match found in emitted latest 10-K MD&A.

Informational only - not investment advice.