America-“Cradle of Corruption”-current
October 1, 2021
America likes to be thought of as the “Cradle of Democracy”. America gave up any right to claim that title in January of 1968 when Lyndon Baines Johnson proposed, and the U.S. Congress approved the Unified Budget! This single criminal action by the U.S. Government created a corrupt fiscal policy that has colossally enriched the U.S. upper class and devastated the U.S. general public!
America is now the “Cradle of Corruption”!
By combining all U.S. Government income and expenditures into one operating budget, the Unified Budget gave the U.S. Government the control of how all of “the people’s money” would be managed and spent! Money would not be segregated and reserved for specific spending obligations. But the biggest problem with the Unified Budget was that the U.S. Government fiscal policy would continue to operate with cash accounting rather than switching to proper accrual accounting also called GAAP Accounting (Generally Accepted Accounting Principles).
Starting with the FY1969 budget, the U.S. Government has been promising and paying benefits to the U.S. general public but has not been taxing the U.S. upper class enough to pay for these benefits. The U.S. Government is not accruing the money to pay future benefits. This has caused a dramatic divergence in the economic condition of the U.S. population, the U.S. upper class started getting filthy rich because they were undertaxed and the U.S. general public started getting cheated because their promised future benefits were not funded!
Because of this corrupt fiscal policy, the U.S. upper class has been given $157.5 Trillion (US Unfund Liabilities (GAAP)) because they have been undertaxed, the U.S. general public has been cheated out of $128.7 Trillion (US Unfunded Future Liabilities) of promised future benefits because these future benefits have not been funded, and the U.S. ruling class has been overpaid with $28.8 Trillion (National Debt) of overspending on a cash basis!
This is the single most bi-partisan decision of the corrupt U.S. Government over the last 53 years, both the republicans and the democrats have agreed that they will dramatically enrich the U.S. upper class by cheating the U.S. general public!
America likes to proclaim that it is the “Cradle of Democracy” when it is in fact the “Cradle of Corruption”! The corrupt U.S. Government has committed a $157.5 Trillion crime to enrich the elite and cheat the common man!
The following commentaries explain how this corrupt fiscal policy is a fiscal and accounting fraud that I call USAPonzi!
USAPonzi-The Great American Fraud
Whistleblower Letter #3 to U.S. General Public
Whistleblower Letter #8 to Congress.
The devastating impact of this accounting fraud on Planet Earth is summarized in my Oct 1, 2020 commentary.
Quintet of Global Crises (Economy, Climate, Health, Hunger, Depression).
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org October 1, 2021
The current fiscal policy of the corrupt U.S. Government, I call it USAPonzi, is Destroying Planet Earth!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White