Suspending the "Debt Limit"!
September 10, 2017 Emailed to WSJ/NYT/DMN on 9/11/17
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains why the U.S. Government wants to suspend the "Debt Limit"!
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".
Suspending the "Debt Limit"!
September 10, 2017
When the general public finds out the U.S. Government has given the U.S. upper class $107.4 Trillion and has underfunded the benefit promises to the general public by $87.4 Trillion; the general public is going to be really, really pissed!
The U.S. Government is kicking a $107.4 Trillion CAN down the road!
The U.S. Government has decided that it will suspend the "Debt Limit" for 90 days until Dec 8, 2017. This has caused some of the members of Congress to propose that Congress permanently eliminate the "Debt Limit" test because they claim it is a waste of time and serves no real purpose!
Increasing the "Debt Limit" authorizes the continuation of the Ponzi scheme fiscal policy that I have named USAPonzi! If the U.S. Government did not raise the "Debt Limit", that would expose the fact that senior members of the U.S. Government are common criminals!
The "Debt Limit" will always be a problem because of this fiscal and accounting fraud. This Ponzi scheme fiscal policy, if allowed to continue unchecked, will produce infinite debt. USAPonzi has already produced $107.4 Trillion of real and virtual debt and has fraudulently given the U.S. upper class $107.4 Trillion. The U.S. Government has also borrowed $20.0 Trillion from the now fraudulently enriched upper class so that the U.S. Government can overpay the U.S. ruling class!
There is no way that the U.S. Government wants to stop this fraud because stopping it will expose the fact that the U.S. Government is bankrupt, will take away $107.4 Trillion of phantom wealth from the U.S. upper class, will expose the fact that the benefit promises to the general public cannot be kept, and will dramatically cut the pay of U.S. Government workers. Who would want any of this to happen? So they extend the "Debt Limit" so the rich can get richer, so the poor can get poorer, so they can continue to eat from the fake money trough created by this Ponzi scheme, and so they can avoid having to admit to committing this fiscal and accounting fraud.
The Congress wants to permanently suspend the "Debt Limit" so they can continue this $107.4 Trillion fraud without having to repeatedly tell the general public that they are voting to continue this criminal act!
Someone has got to stop this fraud!
The U.S. Government has got to start telling the financial truth!
The "News Media" has got to start reporting the financial truth!
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Sep 10, 2017
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. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books "USAPonzi" (Nov 22, 2015) and "USAPonzi2" (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This is the biggest ($107.4 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