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(Note: This list is not the way the U.S. Treasury reports trust funds. I have reorganized this list in order to group entitlements and show how much of the total they hold.)

2001

TRUST FUNDS
AS OF THE CLOSE OF FISCAL 2004

2002

2003

Nos. 1 thru 143 make up the "Intragovernmental Holdings" portion of the national debt.

ENTITLEMENTS
(IN MILLIONS)

#	NAME	AMOUNT
1.	Federal Old Age & Survivors Insurance (Social Security)	$1,452,599
2.	Federal Disability Insurance (Social Security)	$182,769
3.	Federal Hospital Insurance (Medicare)	$264,375
4.	Federal Supplementary Medical Insurance (Medicare)	$17,439
5.	Federal Employees Retirement and Disability	$621,855
6.	Employees Life Insurance Fund, (FEL&H #1)	$28,107
7.	Employees Health Benefits Fund, (FEL&H #2)	$10,772
8.	Airports & Airways	$9,892
9.	Cheyenne River Sioux Tribe Terrestial Wildlife Habitat Restore	$24
10.	Contributors, American Battle Monuments Commission	$6
11.	Harbor Maintenance	$2,237
12	Highway Trust Fund	$10,212
13.	Inland Waterways Trust Fund	$352
14.	Lower Brute Sioux Tribe Wildlife Habitat Restoration	$8
15.	Native American Institutions Endowment	$52
16.	Railroad Retirement Account	$627
17.	Social Security Equivalent Benefit Account, Railroad Retirement	$676
18.	Tribal Special Fund, Office of the Special Trustee, Indian Affairs.	$54
19.	Unemployment Trust Fund	$45,239
20.	Veterans Life Insurance Fund	$1,888
21.	Military Retirement	$177,280
22.	Claims Court Judges Retirement Fund	$12
23.	District of Columbia Judges Retirement Fund	$100
24.	Judicial Officers Retirement Fund	$183
25.	Judicial Survivors Annuities Fund	$442
26.	Tax Court Judges Survivors Annuity Fund	$8

	TOTAL Entitlements (92% of total)	$2,827,208

* See: "Confessions" to understand what happens when trusts are drawn down.

PERKS & OTHERS
(in millions)

27.	Abandoned Mines Reclamation Fund...........................................	$2,045
28.	Albanian Claims Fund.................................................................	$1
29.	Aquatic Resources Trust Fund....................................................	$1,450
30.	Armed Forces Retirement Home Trust Fund...............................	$111
31.	Assessment Funds, Office of the Comptroller of the Currency......	$479
32.	Assets Forfeiture Fund, Justice...................................................	$528
33.	Bank Insurance Fund.................................................................	$32,089
34.	Bequests & Gifts, Disaster Relief, Funds Appropriated to President	$2
35.	Bequests of Maj.Gen.Ainsworth, Library, Walter Reed Gen.Hosp.	**
36.	Capitol Preservation Fund..........................................................	$73
37.	Christopher Columbus Scholarship Fund.....................................	$2
38.	Coast Guard General Gift Fund..................................................	$12
39.	Belize Escrow, Debt Reduction.................................................	$1
40.	Community Development Credit Union Revolving Fund...............	$9
41.	NEW: Dept. of Defense Medicare Eligible Retiree Fund............	$35,864
42.	Court of Veterans Appeals Retirement Fund..............................	$10
43.	NEW: Tribal Trust Fund, American Indians	$11
44.	Dept. of Defense, Education Benefits Fund................................	$994
45.	Dept. of Air Force General Gift Fund........................................	$1
46.	Dept. of Army General Gift Fund..............................................	$1
47.	Dept. of Navy General Gift Fund..............................................	$2
48.	District of Columbia Pension Liability Trust Fund.......................	$1,691
49.	Eisenhower Exchange Fellowship Program...............................	$7
50.	Endeavor Teacher Fellowship Trust Fund................................	$1
51.	NEW: Energy Employees Occupational Illness Compensation...	$47
52.	Environmental Improvement and Restoration...........................	$973
53.	Esther Cattel Schmitt Gift Fund..............................................	**
54.	Exchange Stabilization Fund, Treasury....................................	$10,319
55.	Expenses, Presidio Trust.......................................................	$111
56.	Farm Credit Insurance, Capital Corp. Investment Fund...........	$2,016
57.	Federal Aid to Wildlife Restoration, Fish & Wildlife Service....	$365
58.	FHA - General and Special Risk Insurance, HUD...................	$4
59.	FHA - Liquidating Account, HUD.........................................	$23,321
60.	Federal Supplemental District of Columbia Pension Fund.........	$1,971
61.	Land Between the Lakes trust fund.......................................	$4
62.	Foreign Service Retirement and Disability Fund.......................	$12,828
63.	FSLIC Resolution Fund.........................................................	$3,013
64.	General Post Fund, National Homes, Dept. of Vet. Affairs.....	$67
65.	German Democratic Republic Settlement Fund.......................	$5
66.	Gifts & Bequests, Office of the Secretary, Dept. of Transp....	**
67.	Gifts & Bequests, Treasury..................................................	$1
68.	Gifts & Donations, National Endowment of the Arts....	**
69.	Hazardous Substance Superfund...................................	$2,227
70.	Guarantees of Mortgage Backed Securities Fund, HUD...........	$7,562
71.	Harry S. Truman Memorial Scholarship Trust Fund..................	$56
72.	NEW: International Center for Middle Eastern Dialogue..........	$6
73.	Host Nation Support, US Relocation Activities Account...........	$4
74.	Lincoln County Land Act.......................................................	**
75.	Iranium Claims Settlement Fund, Treasury..............................	**
76.	Israeli Arab Scholarship Fund, Treasury.................................	$4
77.	James Madison Memorial Fellowship Foundation Fund.............	$37
78.	Japan-US Friendship Trust Fund.............................................	$39
79.	John C. Stennis Center, Public Service Training & Development	$11
80.	Kennedy Center Revenue Bond Sinking Fund..........................	$6
81.	Leaking Underground Storage Tank Trust Fund.......................	$2,233
82.	Library of Congress Gift Fund................................................	$9
83.	Library of Congress Trust Fund.............................................	$37
84.	Morris K. Udahl Scholarship Trust Fund.................................	$26
85.	National Archives Trust Fund.................................................	$10
86.	National Credit Union Share Insurance Fund...........................	$6,059
87.	National Gift Fund, National Archives & Records Admin........	$3
88.	National Institutes of Health Conditional Gift Fund...................	**
89.	National Institutes of Health Unconditional Gift Fund...............	$18
90.	National Security Education Trust Fund..................................	$18
91.	National Service Life Insurance Fund, Veterans Affairs..........	$10,949
92.	National Service Trust, Corp. for National & Community Serv	$331
93.	National Resource Damage Assessment & Restoration..........	$168
94.	National Waste Disposal Fund, Dept. of Energy.....................	$30,518
95.	Oil Spill Liability Trust Fund..................................................	$829
96.	Oliver Wendell Holmes Devise Fund, Library of Congress......	**
97.	Operating Fund, national Credit Union Administration.............	$42
98.	Operation & Maintenance, Indian Irrigation...........................	$24
99.	Overseas Private Investment Corp........................................	$3,795
100.	Panama Canal Commission Compensation Fund....................	$77
101.	NEW: Reserve Mobilization Income Insurance, Defense.......	$3
102.	Patients Benefit Fund, National Institute of Health..................	**
103.	Payments to Copyright Owners, Library of Congress.............	$856
104.	Pension Benefit Guaranty Corporation..................................	$13,166
105.	Postal Service Fund.............................................................	$1,283
106.	Power Systems, Indian Irrigation Projects..............................	$45
107.	Preservation, Birthplace of Abraham Lincoln.........................	**
108.	Prison Industires Fund, Dept. of Justice.................................	$159
109.	Public Enterprise Revolving Fund, Treasury...........................	$195
110.	Public Health Service Conditional Gift Fund...........................	$3
111.	NEW: Native American Institutions Endowment...................	$52
112.	Relief & Rehabilitation, Longshoremens & Harbor Wkr Comp	$70
113.	Relief & Rehabilitation, Workmens Comp. D.C. Dept.of Labor	$5
114.	NEW: Open World Leadership Center Trust.....................	$8
115.	Retired Employees Health Benefits Fund, Personnel Dept.....	$2
116.	Revolving Fund for Administrative Expenses, Farm Credit	$18
117.	NEW: Relief & Rehab. Workman's Comp. DofC................	$5
118.	Saving Association Insurance Fund......................................	$11,852
119.	Science, Space & Technology Education, NASA.................	$14
120.	Seized Currency, US Customs Service................................	$330
121.	Servicmens Group Life Insurance Fund...............................	**
122.	S.Dakota Terrestrial Wildlife Habitat Restoration.................	$64
123.	Southern Nevada Public Land Management Act of 1998.....	$795
124.	Treasury Forfeiture Fund...................................................	$126
125.	The Barry Goldwater Scholarship & Excellence in Education	$56
126.	NEW: Senate Preservation Trust Fund..........................	$1
127.	United States Enrichment Corporation Trust........................	$1,350
128.	US Government Life insurance Fund, Veterans Affairs........	$50
129.	US Naval Academy General Gift Fund................................	$7
130.	US Trustee System Fund, Justice........................................	$245
131.	Uranium Enrichment & Decommissioning Fund, Dept.Energy	$3,657
132.	Utah Reclamation Mitigation & Conservation Account	$140
133.	Vaccine injury Compensation.............................................	$2,015
134.	Veterans Special Life Insurance Fund................................	$1,88
135.	Veitnam Claims Fund........................................................	**
136.	Voluntary Separation Incentive Fund, Defense....................	$713
137.	War-Risk Insurance Revolving Fund, Maritime Admin........	$37
138.	Nationl Flood Insurance Fund - FEMA..............................	$784
139.	Open World Leadership Center Trust Fund........................	$6
140.	United States Information Agency trust fund......................	**
141.	Veterans Reopened Insurance Fund..................................	$442
142.	Black Lung Disability........................................................	**
143.	Aviation Insurance Revolving Fund...................................	$351

	TOTAL Perks & Others (8% of total)..............................	$283,379

	COMBINED WITH ENTITLEMENTS (#1 THRU #24)..................	$3,071,708

** Less than one million

COMBINED TOTAL = $3.072 Trillion = 42% of National Debt

ENTITLEMENTS ACCOUNT FOR 39% of National Debt and 92% of Intragovernmental Holdings

SOCIAL SECURITY ALONE IS 22.3 % OF THE NATIONAL DEBT

All of the 143 trust funds above hold nothing but special obligation nonmarketable Treasury bonds. They never hold any real money. When needed, these markers will be turned in for cash from the Treasury's General Fund of current receipts from personal and corporate income taxes, legitimate borrowing, or general taxes of the budget.

Surplus entitlement payments remain in the General Fund until spent by Congress and the Administration, at which time "certificates of deposit" are recorded in these black hole debit accounts, later to be rolled over into nonmarketable bonds. Each account is then awarded annual interest without any cash involved.

These accounts are what the government calls "Intragovernmental Holdings" to carry out the fiction of having merely borrowed entitlement money.

But the story doesn't stop there. The federal government has at least 14 real trust funds that it reports along with the above but labels as "Public Debt" because they are real and they don't know where else to put them. These funds hold positive negotiable assets, real money, and are not debt.

GONE in fiscal 2004

#39-'03	Conditionsl Gift Fund, General, Dept. of State......................	$4
#41-'03	Defense Cooperation Account, Dept. of Defense................	$1,008
#68-'03	Gifts & Donations, Nat'l Endowment for the Humanities......	$1
#72-'03	Gifts, Central Intelligence Agency......................................	**
#101-'03	Panama Canal Commission Dissolution Fund......................	$1
#111-'03	Public Health Service Unconditional Gift Fund....................	**
#114-'03	Marketing Services, Agricultural........................................	**
#117-'03	Ricky Ray Hemophilia Relief Fund....................................	$89
#127-'02	Unconditional Gift Fund, State Department***.....................	$88,638

** Less than $1 million
***All inquiry has been unanswered

NOTE: Most of the nonmarketable bonds in the "Intragovernmental Holdings" portion of the debt have risen or fallen in 2004, but one of the most dramatic changes was in #42 the "Dept. of Defense, Education Benefits Fund" that dropped from $18,445 million to $994 million, a drop of about $17.5 billion.

*** The entire Unconditional Gift Fund for the Depart ment of State disappeared in fiscal 2002 the same time period in which Secretary of State Colin Powell was touring the world building the "Coalition of the Willing." No one will admit where this $88.6 billion went or how it was converted to cash from nonmarketable non-negotiable bonds.

See: What authorities say happens when these bonds are cashed in.

REAL TRUSTS
that are not part of Intragovernmental Holdings.
(in millions)

1.	Custodial Tribal Fund, Office of special trustee for Indians...............	$418
2.	Deposits, Outer Continental Shelf Lands Act, Minerals Mgmt, Bids	$28
3.	Escrow Account, National Labor Relations Board..........................	$5
4.	Federal Ship Financing Escrow Fund, Maritime Admin...................	$23
5.	Kuukpik Alaska Escrow Fund.......................................................	$36
6.	Payments of Alleged Violators of Dept. of Energy Regulations.........	$252
7.	Seized Assets Fund, Justice............................................................	$576
8.	Smithsonian Endowment Fund........................................................	$1
9.	Special Investment Fund................................................................	$745
10.	Thrift Savings fund, Federal Retirement..........................................	$56,376
11.	Treasury Deposit Funds................................................................	$22
12.	Unearned Copyright Fees, Library of Congress.............................	$4
13.	Wage, Hour, and Public Contracts Restitution Fund, Labor...........	$2
14.	Proceeds of Lands Withdrawn for Native Selection........................	$2
15.	Individual Indian Money, Bureau of Indian Affairs..........................	$19
16.	Gifts, Central Intelligence Agency	**
17.	Maritime Guaranteed Loan Escrow Fund	$29

	Total............................................................................................	$58,538

** Less than one million

EARLIER LISTS: 2003, 2002, 2001