Healthcare Cost Inflation-A Byproduct of USAPonzi
March 26, 2017 Emailed to WSJ/NYT/DMN on March 26, 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 dramatically enhance the lifestyle of Americans, to dramatically enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the Common Man, and to colossally cheat the rest of the planet. This Op-Ed explains how this U.S. Government fraud is causing the cost of healthcare to inflate.
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".
Healthcare Cost Inflation-A Byproduct of USAPonzi
March 26, 2017
The U.S. Government fiscal and accounting fraud, that I call USAPonzi, is producing imaginary-counterfeit money which is causing the wealth gap, inflation, offshoring, under employment, and urbanization. This fraud is also causing the cost of healthcare to increase dramatically.
The U.S. Government is making benefit promises, including healthcare promises, that are unaffordable and unfunded and is borrowing imaginary-counterfeit money from the future Americans to pay for these benefit promises. As of March 26, 2017, the U.S. Government has borrowed $105.6 Trillion of imaginary-counterfeit money from the future Americans to cover the financial commitments that the U.S. Government has already made. Because the U.S. Government is able to borrow an unlimited supply of faux money from the future Americans, the healthcare providers can charge unlimited prices for their products and services.
The U.S. Government can borrow an infinite amount of faux money from the future Americans to pay for these healthcare benefits because this faux money is both imaginary and counterfeit. The future Americans have an infinite supply of imaginary-counterfeit money.
The primary reason that the Trumpcare Bill failed to pass last week, is because the U.S. Government is dramatically overpromising healthcare benefits relative to its ability to pay for these promises and some of the "true conservatives" in the House would not vote for the bill because they knew that the bill was not affordable. The Democrats would not vote for the bill because Trumpcare was cutting back on what were considered to be essential benefits. Congress must recognize that just because benefits are considered essential does not mean that they can be paid for. Because the U.S. Government is not using GAAP Accounting, they do not have the proper information as to what is affordable and what is not.
Author's opinion: The primary reason the Democrats would not vote for Trumpcare is because it was proposed by the Republicans. It has become a "cardinal sin" to vote for anything proposed by the "other party"!
The problem is that the U.S. Government has already committed to paying healthcare promises that are irrational and unaffordable and both Obamacare and Trumpcare are making even greater promises. Further, the U.S. Government has not been accruing for the pre-Obamacare promises since FY1969 and the liabilities for these and other benefit promises have been deferred to the future Americans creating $85.7 Trillion of US Unfunded Future Liabilities.
Until the U.S. Government starts using proper accounting and balances the federal budget, we will continue to see many financial and economic distortions that include asset price inflation and consumer product price inflation which includes healthcare cost inflation.
The USAPonzi fiscal and accounting fraud is creating imaginary-counterfeit money out of "thin air" which is causing the price of assets, consumer goods, and healthcare to increase dramatically (See Inflation-A Byproduct of USAPonzi).
Because of this fraud, the U.S. Government will pay whatever the healthcare providers feel that they can get away with for their products and services because the U.S. Government just borrows more and more faux money from the future Americans to pay for it. The inequity arises because the U.S. ruling class and the U.S. upper class are the prime beneficiaries of this fraud and they get most of this faux money (See Open Letter to Planet Earth).
Until the U.S. Government starts operating with an honest fiscal policy and accounting system, the cost of healthcare will continue to escalate. Because of the way this fraud works, the U.S. upper class can pay these outrageous prices for healthcare with their imaginary-counterfeit money (faux money) but the Common Man typically has to pay for his/her healthcare with their real money (See Two classes of People/Two Kinds of Money).
The U.S. Government takes good care of themselves and their upper-class friends by borrowing imaginary-counterfeit money from the future Americans and channeling most of this faux money to themselves and their rich friends.
If the U.S. Government would just tell the financial truth, the cost of healthcare would drop dramatically because both the U.S. upper class and the U.S. Common Man would have to use real money to pay for these healthcare products and services. The price of healthcare would then be based on a market rate paid with real money rather than the exponentially increasing supply of faux money as it is today.
When healthcare is being paid for with faux money and the U.S. Government is creating an infinite supply of faux money by borrowing an exponentially increasing amount of faux money from the future Americans, the cost of healthcare will also approach infinity.
When the elite get to use faux money, $105.6 Trillion of faux money, that the U.S. Government has borrowed from the future Americans and the U.S. Common Man has to use real money, we have a serious problem with economic inequality. The cost of healthcare goes up because the elite can pay handsomely for healthcare with their faux money and general population has to pay these high prices with their real money unless the U.S. Government steps in to pay or subsidize the payment with U.S. Government provided faux money.
Until the U.S. Government starts using GAAP Accounting to assess what is affordable and what is not, the cost of healthcare will continue to inflate. The current U.S. Government USAPonzi fiscal policy will create an infinite amount of faux money so the elite will be able to pay a whole hell of a lot for their healthcare services just like they can pay a whole hell of a lot for their big houses, Teslas, Bentleys, and country club dues.
The U.S. upper class is living a super opulent lifestyle simply because Lee Harvey Oswald shot JFK (See The Oswald Financial Bubble).
The U.S. upper class is getting richer and richer because the U.S. Government is borrowing more and more faux money from the future Americans and giving it to the U.S. upper class by undertaxing them. The U.S. upper class gets $15.34 Billion more faux money (imaginary-counterfeit money) from the U.S. Government every day (GAAP Deficit in FY2017 of $5.60T/365 = $15.34B).
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org March 26, 2017
This U.S. Government fiscal and accounting 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.
When the U.S. population starts paying only what it can afford for healthcare and no more, the cost of healthcare will drop dramatically and both the elite and the general public will have to pay for healthcare with real money. Faux money creates faux prices and today most healthcare is paid for with faux money that the U.S. Government is borrowing from the future Americans. The U.S. Government has already created $105.6 Trillion of faux money.
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 ($105.6 Trillion) financial fraud ever perpetrated; I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White