Enriching the US Upper Class-current
February 14, 2019
The U.S. Government is corrupt!
The U.S. Government is enriching the U.S. upper class by $122.6 Trillion by committing fiscal and accounting fraud!
The U.S. Government has fraudulently given the U.S. upper class $122.6 Trillion and is giving the U.S. upper class another $16.7 Billion every day because it is not taxing the U.S. upper class enough to pay for the U.S. Government benefits that it has promised to the U.S. general public!
The U.S. Government is committing a fiscal and accounting fraud by assessing and reporting its financial condition with Cash Accounting rather than proper GAAP Accounting (Generally Accepted Accounting Principles)!
Because the U.S. Government is not using proper accounting, the U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these promises! The U.S. Government is not using accrual accounting, called GAAP Accounting in America, which would properly accrue the money to pay future U.S. Government benefits!
Because of this accounting fraud, the U.S. upper class is getting rich and the U.S. general public is getting cheated! So far, the U.S. upper class has been given $122.6 Trillion (US Unfunded Liabilities (GAAP)), the U.S. ruling class has been overpaid by $22.0 Trillion (National Debt), and the U.S. general public has been cheated by $100.6 Trillion (US Unfunded Future Liabilities)!
The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing money from the future Americans, I call it imaginary-counterfeit money, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
The U.S. Government is enriching the U.S. upper class by fraudulently borrowing money from the future Americans, by deferring public liabilities to future Americans that can never be paid, and giving it to the U.S. upper class by undertaxing them.
This accounting fraud is causing the Wealth and Income Gap by giving the U.S. upper class an infinite amount of imaginary-counterfeit money! So far, this accounting fraud has given the U.S. upper class $122.6 Trillion and is giving them $16.7 Billion more every day with GAAP basis deficit spending! The U.S. Government GAAP basis deficit in FY2019 is estimated to be $6.09 Trillion!
This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books USAPonzi, USAPonzi2, USAPonzi3, and my latest USAPonziA.
This is the biggest ($122.6 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
Financial data sourced from www.usdebtclock.org as of February 14, 2019.
John W White