The Government of the United States of America is operating a classic Ponzi scheme, which I have named USAPonzi, that is paying the direct and indirect employees of the U.S. Government much more than the U.S. taxpayer can afford, is dramatically undertaxing the U.S. Upper Class making them very rich, and is cheating the Middle and Lower Class U.S. citizens by not funding the social benefit promises that the U.S. Government has made to U.S. citizens.
The U.S. Government is lying to the U.S. citizens by promising to pay social benefits that it does not have the financial capability to fulfill. The U.S. Government is cheating the U.S. citizens by promising to pay these social benefits but is not funding these promises. The U.S. Government is making the rich people and the rich businesses very, very rich by not funding these social benefit promises and by taxing them even less than the U.S. Government is spending on a cash basis. The U.S. Government is also paying themselves and their direct and indirect employees much more than the taxpayer can afford by spending more than the U.S. Government's income.
The U.S. Government is using a corrupt and fraudulent accounting system by using Cash Accounting instead of the appropriate GAAP Accounting (Generally Accepted Accounting Principles). By using Cash Accounting, the U.S. Government reports a budget deficit of $0.5 Trillion when our real GAAP deficit is $6.5 Trillion because the U.S. Government accounting system ignores the fact that it is not funding these social benefit promises. By using Cash Accounting the U.S. Government reports a Cash Debt of $18.1 Trillion when the U.S. Government really owes a GAAP Obligation of $100.4 Trillion because the U.S. Government does not routinely report its Unfunded Liabilities for social benefits of $82.3 Trillion.
By using a corrupt and fraudulent accounting system and by overspending its cash budget, the U.S. Government
is making the U.S. Upper Class very, very rich by $100.4 Trillion,
is dramatically overpaying themselves and the direct and indirect government employees and businesses by $13.0 Trillion,
and is cheating the common man and the underprivileged by $87.4 Trillion by not funding the social benefit promises.
This Ponzi scheme (USAPonzi) is making the Upper Class very, very rich, is paying Government employees lucrative salaries that the taxpayer cannot afford, and is ripping off the common man and the underprivileged.
The Upper Class and the Ruling Class are making out like bandits while the Middle Class and the Lower Class are headed toward financial devastation because the U.S. Government is making social benefit promises but not funding these promises.
The U.S. Citizenry must demand that the U.S. Government adopt GAAP Accounting and a balanced GAAP basis budget so that the U.S. Government can keep its social benefit promises and so that the U.S. Government starts operating with an equitable, and sustainable fiscal policy.
The U.S. citizenry must the demand that the U.S. Government begin using an honest accounting system!
This Ponzi scheme has handed the U.S. Upper Class $100 Trillion on a golden platter but it is counterfeit money because this can only be real money if the U.S. future taxpayer can magically make good on a $100 Trillion tax bill that is increasing exponentially. That is what makes a Ponzi scheme a Ponzi scheme.
See www.usaponzi.com for more information about this Ponzi scheme.
Also see U.S. Upper Class loves Government Fraud!