The United States of America appears Prosperous by Cheating!
June 22, 2016
The United States of America "appears" to be the most prosperous and wealthy country in the history of The Planet but only because the U.S. Government is cheating! The U.S. Government is running a massive Ponzi scheme (USAPonzi) to create the illusion of prosperity and wealth in The United States of America!
The U.S. Government is operating with a corrupt and fraudulent accounting system (using Cash Accounting rather than the proper GAAP Accounting) and fiscal policy (overspending on a cash basis) that is borrowing imaginary-counterfeit money from the future U.S. taxpayers so that it can overpay the U.S. Government workers, overpay the social benefit recipients, and undertax the current U.S. taxpayers.
Just think about that; the U.S. Government is pretending to borrow $trillions and $trillions of imaginary money from the future U.S. taxpayers, that the future U.S. taxpayers cannot possibly pay back, so that they can overpay themselves, overpay the social benefit recipients, and give massive imaginary wealth to the U.S. upper class. The more the U.S. Government overspends and overcommits, the wealthier the U.S. upper class appears to be because they are being undertaxed by $trillions; but this wealth gain is imaginary-counterfeit money (See The Imaginary Millionaires and Billionaires!).
As of June 22, 2016 the U.S. Government has borrowed $102.6 Trillion from the future U.S. taxpayers (US Unfunded Liabilities (GAAP)) and is borrowing $15.8 Billion more every day (GAAP Deficit of $5.75T/365 = $15.8B). This borrowed money is imaginary money because the U.S. Government imagines that the future U.S. taxpayers can eventually pay back this money but it is also counterfeit money because there is no hope that the future U.S. taxpayers can ever pay back this money. Therefore, the U.S. upper class is just appearing to get filthy rich with imaginary-counterfeit money (See The Theory of Imaginary Money).
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|| $83.3 Trillion
|US Unfunded Liabilities (GAAP)
|| $102.6 Trillion
|Total National Assets
Source: www.usdebtclock.org June 22, 2016
Total National Assets in the above table is the estimated private net worth of all U.S. citizens and businesses. Therefore, most (84%) of the U.S. private net worth has been produced as imaginary-counterfeit money by this U.S. Government fraud ($102.6T/$122.4T = 0.84).
When you boil this U.S. Government fraud down to its simplest form, this fraud is just stealing $15.8 Billion (GAAP Deficit of $5.75T/365 = $15.8B) every day from future Americans and giving it to current Americans. This is the fundamental nature of a Ponzi scheme.
This Ponzi scheme fiscal policy, if it is allowed to continue, will steal an infinite amount of imaginary-counterfeit money from future Americans and give it to current Americans. With the current fiscal policy, Americans will have an unending and ever-increasing supply of imaginary-counterfeit money to spend.
The United States of America is NOT prosperous and wealthy! The United States of America is "flat broke"! The U.S. Government has made $102.6 Trillion of financial commitments that it cannot keep and these commitments are increasing exponentially. The United States of America is being run by a bunch of scoundrels (both inside and outside the U.S. Government) that are willing to lie to and cheat the future Americans and the rest of the planet so that they can overpay themselves and make many of them appear to be very rich. The U.S. Government is creating imaginary-counterfeit money out of "thin air" by pretending to borrow it from the future U.S. taxpayers to perpetrate this fraud.
This is an obvious fraud but many of the people in the U.S. Government and their upper class friends are appearing to get filthy rich because of this fraud so the fraud continues. The U.S. Government has entered into a bipartisan conspiracy to continue to operate with a dramatically unbalanced budget that overpays the U.S. ruling class, overpays the social benefit recipients, and dramatically undertaxes the U.S. upper class.
This fraud elevates the standard of living for all current Americans! This fraud creates an opulent lifestyle for the U.S. ruling class! This fraud creates a super opulent lifestyle for the U.S. upper class! This fraud has dramatically accelerated the consumption rate for all Americans! We have bought, built, and consumed more than 5 times what we can afford by borrowing $102.6 Trillion from the future U.S. taxpayers (See Four out of Five Things in America are Unaffordable!).
This imaginary-counterfeit money (currently $102.6 Trillion) will evaporate into the "thin air" from whence it came when USAPonzi implodes! (See The Implosion of USAPonzi)
We have a bunch of scoundrels, liars, and cheaters that are running the U.S. Government with this Ponzi scheme fiscal policy so that they can line their own pockets and so that they can dramatically line the pockets of their upper class friends.
The fiscal policy of the U.S. Government is a classic Ponzi scheme (USAPonzi) that, rather than taxing the U.S. taxpayers to pay for its spending and committing to spend, is making the U.S. upper class appear to be filthy rich. The U.S. government has undertaxed the U.S. taxpayers by $102.6 Trillion making the U.S. upper class appear to be super rich with imaginary-counterfeit money simply by deferring public liabilities to the future U.S. taxpayers.
This is fraud! This is corruption! The people in Congress and the leadership in the Executive Branch should be indicted on fraud and corruption charges for continuing this fraud.
The U.S. Government has been committing this fraud for 47 years and the people in the U.S. Government refuse to give up this gravy train for themselves and their rich friends.
This problem can only be equitably resolved by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
In order to create a level economic playing field over time and throughout the planet, the U.S. Government must eliminate this fraud and corruption. The U.S. Government must stop cheating the future Americans and the rest of the planet just so it can enhance the lifestyle of current Americans!
You can learn more about this fraud/Ponzi scheme by reading my website www.usaponzi.com or better yet by reading my book "USAPonzi" which is available on Amazon and also on my website in PDF format.
This is the biggest ($102.6 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!