What is a Ponzi Scheme? What is GAAP Accounting? USAPonzi-A Classic Ponzi Scheme
USAPonzi CliffsNotes Whistleblower Letters to the SEC 1 2 3 4 5 6 7 8 9 10 11 12
American Institute of CPAs video The Implosion of USAPonzi Truth in Government.org video
Whistleblower Letter to Congress USAPonzi Elevator Speech Whistleblower Letter #3 to Supreme Court
The Theory of Imaginary Money Warren Buffett's commentary on Pensions begins on page 118
Household Net Worth Corporate Net Worth Small Business Net Worth
debt to the penny Open Letter to Planet Earth www.usdebtclock.org
USAPonzi is explained on Amazon, in PDF USAPonzi(pdf), and on the web USAPonzi.net.
USAPonzi simply stated: The U.S. Government is borrowing imaginary-counterfeit money ($105.953 Trillion as of 4/28/17) from the future Americans and giving it to the current Americans! The current Americans are getting rich by borrowing money ($106.0T) from the future Americans as the following Federal Reserve Bank chart demonstrates.
Total National Net Worth (Household, Corporate, and Small Business) Chart
New Commentary Apr 28, 2017 Earnings Beat Estimates! Earnings Beat Estimates!
Apr 25, 2017 "Drain the Swamp" by Congressman Ken Buck(R-CO)
Apr 23, 2017 Cheating the U.S. Common Man
Apr 21, 2017 A Fraud that fooled A Planet!
Apr 19, 2017 Read My Lips!
Apr 17, 2017 Open Letter to the U.S. General Public
Apr 15, 2017 The $105.8 Trillion U.S. Government Fraud!
Apr 13, 2017 Ponzi Schemes Explained by FraudsandScams.com
Apr 7, 2017 Fools or Cheaters?
Apr 7, 2017 Borrowing from Future Americans $105.7 Trillion
Apr 5, 2017 The LBJ Conspiracy
Apr 5, 2017 Earning Imaginary Interest on Imaginary Money
Apr 4, 2017 Chinese are NOT Grand Champions of Currency Manipulation!
Mar 31, 2017 U.S. Trade Deficit Eplained
Mar 29, 2017 Open Letter to Planet Earth Commiting a $105.6 Trillion Crime
Mar 26, 2017 Healthcare Cost Inflation-A Byproduct of USAPonzi
Mar 24, 2017 Open Letter to Planet Earth Giving the U.S. Upper Class $105.6 Trillion!!!
Mar 21, 2017 Cooking the Books!
Mar 16, 2017 Open Letter to Warren Buffett
Mar 13, 2017 "Unequal Prosperity" or "Prosperity vs Oppression"
Mar 10, 2017 Playing with a Stacked Deck!
Mar 7, 2017 Open Letter to Planet Earth Giving the U.S. Upper Class $105.4 Trillion!!!
Mar 6, 2017 Whistleblower Letter #4 to the U.S. Supreme Court
Mar 1, 2017 New York Union Workers Struggle to Survive!
Feb 27, 2017 Open Letter to U.S. Supreme Court Nominee Neil Gorsuch
Feb 27, 2017 Open Letter to Planet Earth Enriching the Upper Class/Cheating the Common Man
Feb 22, 2017 Stock Market Record Highs!
Feb 20, 2017 The Extended Theory of Imaginary-Counterfeit Money
Feb 15, 2017 Wealth and Income Inequality Crisis! Cherry coke, hamburger, and fries!
Feb 14, 2017 The Goldman Sachs Conspiracy
Feb 13, 2017 Open Letter to Planet Earth
Feb 10, 2017 Janet Yellen: Liar or Fool?
Feb 9, 2017 Netflix-A $62B Company built on Fraud!
Feb 9, 2017 Las Vegas-A Glitzy City built on Fraud!
Feb 9, 2017 Two Classes of People/Two Kinds of Money
Feb 3, 2017 If it seems too good to be true, it probably is!
Feb 2, 2017 Facebook-A $384 Billion Company built on Fraud!
Feb 2, 2017 Google-A $557 Billion Company built on Fraud!
Feb 1, 2017 Tesla-The Imaginary Car!
Jan 30, 2017 Congress: Which part of this do you not understand?
Jan 27, 2017 The Dow 20,000 Imagainary Milestone
Jan 26, 2017 USAPonzi must be a Planned Conspiracy!
Jan 25, 2017 Obamacare Folly: Trying to Fix the Unfixable!
Jan 20, 2017 Trump: The First Imaginary Billionaire President!
Jan 17, 2017 The Eight Richest Billionaires have the same wealth as poorest 50%
Jan 13, 2017 Jim Cramer is a Brilliant, Fast Talking Fool!
Jan 12, 2017 The Imaginary Stock Market!
Jan 11, 2017 Why Trump and Putin are Buddies!
Jan 5, 2017 www.usaponzi.net A fresh look at USAPonzi
Jan 1, 2017 Whistleblower Letter #3 to the U.S. Supreme Court
Dec 26, 2016 Currency Manipulation Fraud/Inverting the U.S. Dollar
Dec 19, 2016 The American Mafia
Dec 18, 2016 Enriching the Upper Class/Cheating the Common Man
Dec 16, 2016 The Day the Money Runs Out!
Dec 15, 2016 Breaking the Golden Rule
Dec 14, 2016 Open Letter to Planet Earth: The U.S. Government is Corrupt Printable Version
Dec 13, 2016 Open Letter to Planet Earth: The U.S. Government is Corrupt Hyperlink Version
Dec 12, 2016 America has gone Rogue!
Dec 7, 2016 The Great Economic Divide
Dec 2, 2016 Unlimited Wealth to the U.S. Upper Class!
Nov 28, 2016 Open Letter to Planet Earth!
Nov 21, 2016 Because Oswald Assassinated JFK!
Nov 20, 2016 America is living on its Credit Card!
Nov 18, 2016 Urbanization-A Byproduct of USAPonzi
Nov 15, 2016 Getting Rich from U.S. Government Fraud
Nov 10, 2016 Offshoring-A Byproduct of USAPonzi
Nov 8, 2016 The Bankruptcy of The United States of America
Nov 7, 2016 Getting Rich by borrowing Monoply Money!
Nov 5, 2016 The Greatest Depression-The USAPonzi Apocalypse
Nov 5, 2016 U.S. Total Financial Leverage 4.2X 1929
Nov 2, 2016 USAPonzi Elevator Speech 11/2/2016
Nov 1, 2016 The Windfarm Debacle!
Nov 1, 2016 USAPonzi CliffNotes updated Nov 1, 2016
Oct 22. 2016 Inflation-A Byproduct of USAPonzi (Reprise from Oct 2013)
Oct 19, 2016 Borrowing from the Future
Oct 17, 2016 The Wells Fargo Scandal Hypocrisy!
Oct 12, 2016 Slipping $103.8 Trillion to the U.S. Upper Class!
Oct 10, 2016 Creating the Wealth Gap!
Oct 6, 2016 The Concept of Imaginary-Counterfeit Money
Oct 4, 2016 LeBron Endorses Hillary: "High Stakes Pay to Play"!
Oct 1, 2016 Creating Money out of "Thin Air"!
Oct 1, 2016 The SEC Methodolgy for Detecting Ponzi Schemes!
Sep 24, 2016 The United States of America is a Fraud!
Sep 16, 2016 The U.S. Government is Cheating the Common Man!
Sep 15, 2016 Stealing from the Future Americans!
Sep 12, 2016 The Senior U.S. Government Officials are Criminals!
Sep 8, 2016 Creating Imaginary-Counterfeit Wealth!
Sep 5, 2016 We don't need a Wall! We need the Truth!
Sep 1, 2016 Whistleblower Letter #2 to the U.S. Supreme Court
Aug 26, 2016 USAPonzi CliffsNotes
Aug 22, 2016 Op-Ed to WSJ/NYT/DMN August 22, 2016 The Clinton Fraud!
Aug 20, 2016 Op-Ed to WSJ/NYT/DMN August 20, 2016 The U.S. Government is Corrupt!
Aug 15, 2016 The U.S. Government is Lying and Cheating!
Aug 10, 2016 USAPonzi-A Classic Ponzi Scheme
Aug 5, 2016 The Practice of Selective Taxation
Aug 3, 2016 How Public Liabilities produce Private Wealth!
Aug 1, 2016 Op-Ed to WSJ/NYT/DMN August 2016 The $103 Trillion Gift
Aug 1, 2016 The $103 Trillion Gift to the U.S. Upper Class! Donald and Hillary both got rich!
Aug 1, 2016 USA maintains global dominance with fraud!
Jul 27, 2016 Apple sells billionth iPhone because of U.S. Government Fraud
Jul 26, 2016 America: A Great Country ruined by U.S. Government Fraud
Jul 24, 2016 Whistleblower Letter to Stephen Moore-Chief Economist The Heritage Fountadion
Jul 21, 2016 Why "Radical Islamists" hate the Western World!
Jul 20, 2016 The Oil Price Bubble! The Price of Oil will drop to single digits!
Jul 19, 2016 Filling the Planet with Junk! USAPonzi is the reason THEY hate us!
Jul 14, 2016 Oswald made the Dallas Cowboys faux valuable!
Jul 13, 2016 Letter to Congressman Neugebauer
Jul 11, 2016 The $102.8 Trillion Heist!
Jul 8, 2016 The U.S. Government is rigged! "Make America Honest Again"
Jul 5, 2016 Kevin Durant's $54.3 Million Contract Explained!
Jul 1, 2016 The Toyota Debacle! Buying cars with imaginary-counterfeit money!
Jul 1, 2016 Why does the Stock Market keep going up?
Jul 1, 2016 Lee Harvey Oswald changed the course of History!
Jun 29, 2016 USAPonzi is Ballooning the Global Money Suppy and Economy!
Jun 28, 2016 The Magic Money Spigot of the U.S. Government!
Jun 26, 2016 Proposed Texas Ranger Stadium is a $Billion Folly!
Jun 26, 2016 USAPonzi is a four tiered Fraud!
Jun 24, 2016 Getting Rich on Borrowed Money! BrExit should be the least of our worries!
Jun 22, 2016 The United States of America appears Prosperous by Cheating!
Jun 9, 2016 The U.S. Government is Corrupt!
Jun 6, 2016 USAPonzi enriches Gates/Buffett/Clinton/Trump!
May 31, 2016 The Imaginary Millionaires and Billionaires!
May 27, 2016 Whistleblower Letter to Supreme Court Giving Infinite Wealth to the Upper Class
May 25, 2016 Making Something out of Nothing!
May 23, 2016 USA: The Land of Endless Money!
May 19, 2016 Open Letter to U.S. Citizens: Exposing U.S. Fiscal Fraud!
May 17, 2016 USAPonzi a simple fraud: Public Debt becomes Private Wealth!
May 13, 2016 Why are Interest Rates so Low? USAPonzi!
May 10, 2016 Four out of Five Things in America are Unaffordable!
Apr 25, 2016 Whistleblower Letter to Congress Giving Infinite Wealth to the Upper Class
Apr 23, 2016 Stealing from Future Americans
Apr 19, 2016 Fooling the Entire Planet!
Apr 18, 2016 Whistleblower Letter to Fix-The-Debt
Apr 15, 2016 Raising the Minimum Wage is Foolhardy!
Apr 15, 2016 USAPonzi Fraud Status April 15, 2016
Apr 6, 2016 Op-Ed to WSJ/NYT/DMN The Ultimate Gov Fraudl
Apr 1, 2016 The Janet Yellen Dilemma!
Mar 27, 2016 America: A Debtor Nation!
Mar 16, 2016 USAPonzi: The Ultimate Government Fraud $101.5 Trillion
Mar 8, 2016 The Theory of Imaginary Money
Mar 8, 2016 The Meaning of Counterfeit Money
Mar 6, 2016 Whistleblower Letter to WatchDog@DallasNews.com
Mar 1, 2016 Clinton/Trump: Getting Rich(?) from Government Fraud!
Feb 16, 2016 The Bank Bubble; Building Real Banks for Counterfeit Money!
Feb 10, 2016 The Bribery of Bill and Hillary!: Whistleblower Letter #12 to SEC!
Feb 1, 2016 How much money is 2.5 Trillion Dollars?
Jan 13, 2016 Peddling Fiction!
Jan 6, 2016 How USAPonzi created "The Clinton foundation"
Jan 2, 2016 The Closing Scene in USAPonzi-The Movie
Dec 30, 2015 How Oswald created the Saudi Arabia budget deficit!
Dec 27, 2015 How USAPonzi created "America's Team"!
Dec 21, 2015 How Lee Harvey Oswald creates traffic jams!
Dec 1, 2015 Mark Zuckerberg's Charitable Giving
Nov 17, 2015 How Lee Harvey Oswald Created ISIS
Nov 2, 2015 The U.S. Government is "Too Big to Save"!
Nov 2, 2015 The eBook of USAPonzi A reader's guide to the most informative Commentaries
Oct 28, 2015 Why the U.S. Government raises the Debt Ceiling!
Oct 26, 2015 Open Letter to U.S. Citizens The End Game for USAPonzi!
Oct 22, 2015 The Great American Housing Ponzi Scheme!
Oct 17, 2015 Government Fraud makes the Upper and Ruling Classes Rich!
Oct 10, 2015 The Impact of Deficit Spending! $98.7 Trillion of Counterfeit Money!
Oct 6, 2015 USAPonzi-"The Biggest Ponzi Scheme on the Planet"! The Real Story!
Oct 1, 2015 Taking the Plunge into Fiscal Oblivion!
Oct 1, 2015 Gagging on a Gnat while swallowing a Camel!
Sep 30, 2015 Don't cry for me Argentina/America!
Aug 2013 An old Commentary worth repeating! The Fed is NOT the Problem!
Sep 26, 2015 SEC Whistleblower Letter #11 U.S. Government Fraudulently overpays itself!
Sep 25, 2015 The Myth of American Economic Exceptionalism!
Sep 21, 2015 Sitting on a Global Financial System Time Bomb!
Sep 16, 2015 Amazon: A Counterfeit Company created by a Ponzi scheme!
The U.S. Government has been operating a massive ($100 Trillion) Ponzi scheme since FY1969, which I have named USAPonzi.
debt to the penny The Essence of USAPonzi www.usdebtclock.org
The U.S. Government is making unaffordable social benefit promises, is pretending to collect taxes to finance these promises but spends the money that is collected to overpay government workers and government related businesses, is not funding the future social benefit promises, is dramatically undertaxing the upper class which appears to make them super wealthy, is leaving the common man with nothing in the social benefit trust fund to pay future social benefit promises, is paying government workers and businesses much more than the taxpayer can afford, and is attempting to conceal this Ponzi scheme with fraudulent accounting. The U.S. Government is "Cheating the Common Man" to overpay the ruling class and to make the upper class appear super wealthy.
The U.S. Government must adopt GAAP (Generally Accepted Accounting Principles) Accounting and balance the GAAP basis budget to achieve an equitable and sustainable fiscal policy and terminate this Ponzi scheme.
This is a simple accounting problem with a straight forward solution that has created the potential for a financial catastrophe of epic proportions. The U.S. Government is overspending, overpromising, undertaxing, and using corrupt and fraudlent accounting. If the U.S. Government is going to make future promises it must accrue for these promises. Case closed! Any honest CPA and any honest economist will tell you that. But the politicians do not want to hear it, the ruling class does not want to hear it, and the upper class is intoxicated by the massive faux wealth that USAPonzi is producing.
The continued use of Cash Accounting has caused dramatic distortions in our economy and our financial system. It has appeared to make the ruling class prosperous and the upper class super prosperous and super rich while cheating almost everybody else. How can this be right? There is nothing fair about it! It is amazing to me that this has to be explained to the Government of the United States of America.
WHO CAN YOU TRUST WHEN YOUR GOVERNMENT IS LYING?
As The Introduction to USAPonzi explains, Lyndon B. Johnson and the 90th Congress started the lying that created USAPonzi in FY1969 with the "Unified Budget". But every President and every Congress since then has agreed to continue the lying. It has also taken a lot of people (co-conspirators) along the way that have been willing to keep quiet and let USAPonzi continue to operate. But USAPonzi is such an intoxicating scheme that the people in Washington, the people on Wall Street, and the people on Main Street have all been willing to let the lying continue. Ponzi schemes can be really fun for the early investors but they are always painful, even devastating, for the late investors as we will find out when USAPonzi implodes.
The U.S. Government is overspending, overcommitting, undertaxing, and lying (by using corrupt and fraudulent accounting) and as a result is running "The Biggest Ponzi Scheme on the Planet".
I have named this Ponzi Scheme USAPonzi.
The U.S. Government is using Cash Accounting when it should be using GAAP Accounting, and as a result is
dramatically understating our deficit spending by $5.9 Trillion,
dramatically understating our Financial Liabilities by $79.3 Trillion,
dramatically stimulating the U.S. GDP by 1.8X (see U.S. "Real" GDP June 8, 2014),
and dramatically overstating the value of U.S. private assets by 7X (see U.S. Total Assets Bubble).
Cash Accounting GAAP Accounting
FY2014 Deficit $514 Billion $6.4 Trillion
Financial Liabilities $17.7 Trilllion Debt $97.0 Trillion Obligation (Debt plus Unfunded Liabilities)
(as of August 1, 2014)
By undertaxing the U.S. citizens and businesses over the last 46 Years by $97.0 Trillion (thereby creating this GAAP Obligation), U.S. citizens and businesses appear to be $97.0 Trillion richer (see U.S. Total Assets Bubble) than they really are and U.S. businesses appear to be much more successful, profitable, and valuable than they really are.
These Financial Liabilities of $97.0 Trillion have been pushed off on the future taxpayers and they have no hope of ever paying for these liabilities since the current taxpayers are only paying taxes of $3.0 Trillion in FY2014 when our cash outlays are $3.68 Trillion and these Financial Liabilities (GAAP Obligation) are increasing by our GAAP Deficit of $6.4 Trillion in FY2014.
Plus the $3.0 Trillion of income in FY2014 is overstated by $1.36 Trillion since the U.S. GDP is overstated by 1.8X due to this $6.4 Trillion of GAAP basis deficit spending. (see U.S. "Real" GDP June 2014)
This is a classic Ponzi Scheme of unprecedented magnitude that has created $97.0 Trillion of Phantom Money out of "thin air".
USAPonzi will be a $100 Trillion Ponzi Scheme by February 2015!
For a "cliff note" analysis of this Ponzi scheme, I recommend that you read my commentary The Anatomy of USAPonzi.
It is a mathematical certainty that the United States of America (and the entire planet) is headed toward a financial catastrophe of epic proportions and yet the powers that be in Washington will not acknowledge the fact that they have been lying to the world by using fraudulent accounting since 1969.
By using Cash Accounting, the U.S. Government is reporting deficit spending of $514 Billion for FY2014 when proper GAAP Accounting would report deficit spending of $6.4 Trillion. That is the current magnitude of the U.S. Government's "deficit lie".
This lie is causing the rich to appear to get filthy rich (by about 5%/year) and the poor to get desperately poor (by about 5%/year). (see Rich get Richer/Poor get Poorer)
This lie has pumped $97.0 Trillion of smoke into the U.S. Total Assets Bubble making the rich appear to be 7 times as rich as they really are.
This lie has left the elderly and underprivileged with nothing in their social benefit trust fund that should have $84.3 Trillion in it to fund the social benefits that the U.S. Government has promised.
To pay for what Washington is currently spending everyday and the new promises to spend in the future that Washington is making everyday, the following invoices are getting sent out:
If paid Daily Monthly Yearly
Current taxpayers $8.2 Billion $250 Billion $3,000 Billion
Future taxpayers $17.6 Billion $535 Billion $6,422 Billion
The $3,000 Billion is the Congressional Budget Office (CBO) estimate of the amount of revenues that the U.S. Government will collect from current taxpayers in FY2014.
The $6,422 Billion owed this fiscal year by future taxpayers is the USAPonzi estimate of the FY2014 GAAP deficit shown in cell j22 of the USAPonzi Fiscal Model.
The amount due by these future taxpayers, when paid, will be much larger than the stated amount on their invoice since this is the current amount due and they will also owe the accrued compound interest on this invoice amount. This could be sizeable since some of these future taxpayers are not yet born.
Current taxpayers are now paying for less than a third of what Washington is spending and committing. But that is the definition of a Ponzi scheme, early participants in the scheme get paid by future participants in the scheme, and the way USAPonzi is structured if you want to be a citizen of the USA you are required to participate.
We have begun to hear some high profile discussion as to whether or not America and Americans are exceptional. I am of the opinion that the United States is the bastion of freedom and democracy for the free world and one of the most productive and successful countries in history but at the same time I feel that we have dramatically overstated our economic success because of USAPonzi. We take great pride and comfort in being able to field the most powerful military in the world but to do so we spend more in our defense and the defense of the free world than the next 13 highest defense spending countries in the world combined but we cannot afford this level of spending. We take pride in providing social benefits to our citizens in need but we have made commitments that cannot possibly be kept. And we continue to be an attractive country for immigrants because of our apparent economic success. However, much of the reported productivity and economic success of America in the last 46 years is an illusion that can be attributed to the USAPonzi scheme that is analyzed on this website(www.usaponzi.com).
American Economic Exceptionalism Explained
American Economic Exceptionalism (and USAPonzi) can be explained in two sentences: The Federal Government has made social benefit commitments and other budget commitments that are unaffordable, since fiscal year 1969 has not been taxing nearly enough to adequately fund these commitments, has been immediately "borrowing" and spending every penny of the money meant to fund our social benefit trust funds, and each year has been borrowing or printing even more money to support our total annual spending appetite. The Federal Government, since fiscal year 1969, has been dramatically understating the magnitude of this overcommitting, overspending, and undertaxing by using fraudulent accounting techniques.
We have been doing this for so long it now seems okay!!!!
But couldn't you live a more lavish lifestyle if you did not save even one penny for your retirement and future emergencies and on top of that could borrow or print more money each and every year to supplement your day to day living expenses?
Well, that is what the U.S. Government has been doing for 46 years!!!
The U.S. Government is overcommitting, overspending, undertaxing, lying, and bankrupt!!!
The U.S. Government is operating
"The Biggest Ponzi Scheme on the Planet"
July 2, 2014 U.S. Government-A Lawless Enterprise
June 8, 2014 U.S. "Real" GDP June 2014
April 14, 2014 Fifth Letter to SEC: SEC Letter Apr 14, 2014
Mar 1, 2014 U.S. Total Assets Bubble
Feb 18, 2014 The Rich Get Richer/The Poor get Poorer
Feb 4, 2014 The Congressional Budget Office (CBO) released a report today that states that the 2014 Cash deficit is now expected to be down to only $514B due largely to increases in tax revenues that are now expected to be $3,000B. This $514B Cash deficit compares to my estimate of a $6,422B GAAP deficit for Fiscal Year 2014. This means that if the Government was reporting our financial results with proper accounting the deficit would be 12.7 times larger than what the Government is reporting. Since tax revenues are now expected to be $3,000B in Fiscal Year 2014 and our GAAP deficit is estimated to be $6,422B, we are spending and increasing our promises to spend by more than 3.14 times our income. (($3,000B+$6,422B)/$3,000B=3.14)
This means that on an average day in Fiscal Year 2014 we take in $8.2B from current taxpayers and we take $17.6B from future taxpayers!
This means that while the Fed is printing $75B a month the Federal Government is virtually printing $535B a month. This all started with LBJ's Unified Budget and the continued use of Cash Accounting. By taking just a little bit from future taxpayers each day for now nearly 46 years and increasing that amount each day we are now taking $17.6B a day and have taken a total of $93.8 Trillion from future taxpayers and given it to current citizens and businesses.
Is it any wonder that Bill Gates and Warren Buffett are multi-billionaires. Is it any wonder that we have 1,426 billionaires. Is it any wonder that we have millions of millionaires. Is it any wonder that we have hundreds of billion dollar companies. Is it any wonder that we have 287 billion dollar hedge funds. Is it any wonder that the stock market goes up nearly every day.
USAPonzi (www.usaponzi.com) is pumping $17.6B (and going up about 5% year) into the U.S. economy every day and all because of a simple little accounting trick by LBJ so that he could make it look like he balanced his Fiscal Year 1969 budget.
Feb 3, 2014 What happens when USAPonzi implodes? Could Washington DC suffer a plight similar to that of Detroit? Washington DC-A Coming Ghost Town?
Jan 28, 2014 Today the SEC acknowledged receipt of my Whistleblower Complaint.
Jan 24, 2014 Page "My Recommendations" on this website details the actions I feel we should take to get us as a country on a stable, sustainable fiscal path.
Jan 17, 2014 This article Task Force Report Urges Municipalities to Stop Hiding Fiscal Troubles explains how inapproriate accounting by Municipalities is misleading their citizenry. Use of inappropriate/fraudulent accounting is precisely how USAPonzi is misleading U.S. citizens.
Dec 11, 2013 Our Government is Totally Broke! An article from Yahoo Finance (October 7, 2013) by Laurence Kotlikoff, Professor of Economics Boston Univerisity.