Cheating the U.S. Common Man!
April 23, 2017 Emailed to WSJ/NYT/DMN on April 23, 2017
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains how the U.S. Government is using a fraudulent fiscal policy and accounting system to cheat the U.S. Common Man so that they can dramatically enrich themselves and to colossally enrich the U.S. upper class.
The "news media" has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can "feather their own nests" and "dramatically feather the nests of their upper-class friends".
Cheating the U.S. Common Man!
April 23, 2017
The U.S. Government is "Cheating the U.S. Common Man" by promising to pay government benefits to the U.S. citizenry but has been dramatically underfunding these promises since FY1969.
|| $19.9 Trillion
|Borrowed from the Public
|Borrowed from Trust Funds
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org April 23, 2017
The U.S. Government is "Cheating the U.S. Common Man" by promising to pay government benefit to the U.S. citizenry but has been underfunding these promises since FY1969 by a total of $86.0 Trillion.
The U.S. Government is "Cheating the U.S. Common Man" by borrowing the $5.5 Trillion that the current Americans have paid in "payroll taxes" to fund these future benefits so that they can overpay themselves.
The U.S. Government is "Cheating the U.S. Common Man" by borrowing $14.4 Trillion from the public so that they can overpay themselves.
The U.S. Government is enriching the U.S. ruling class by borrowing a total of $19.9 Trillion (National Debt) so that they can overpay themselves.
The U.S. Government is enriching the U.S. upper class by undertaxing them by $105.9 Trillion (US Unfunded Liabilities (GAAP)) and deferring $105.9 Trillion of public liabilities to the future Americans.
The U.S. Government is borrowing, what I call imaginary-counterfeit money, from the future Americans and giving it to the current Americans. This is fraud because the future Americans do not have $105.9 Trillion. I call this borrowed money imaginary-counterfeit money because the U.S. Government just "imagines" that the future Americans can pay it so it is imaginary but the future Americans can never pay it so it is counterfeit.
The U.S. Government attempts to conceal this fraud by "Cooking the Books". The U.S. Government is reporting its financial condition with Cash Accounting rather than the proper GAAP (Generally Accepted Accounting Principles) Accounting.
The U.S. Government is also cheating the rest of the planet because the current Americans are using this fraudulently borrowed imaginary-counterfeit money to buy things that we cannot pay for. After all this is counterfeit money that the U.S. Government is borrowing from the future Americans.
The current fiscal policy of the U.S. Government is a classic Ponzi scheme, that I call USAPonzi, because the early participants in the scheme are to paid with money that is expected to come from the late participants in the scheme.
The U.S. Government is corrupt! The senior officials of the U.S. Government are criminals because they are significant beneficiaries of this fraud.
This U.S. Government fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans.
This is the biggest ($105.9 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White