Four out of Five Things in America are Unaffordable!
May 10, 2016
More than four out of five things that we have bought, built, or consumed in America are unaffordable! More than four out of five things in America have been purchased with imaginary-counterfeit money that has been produced by U.S. Government fraud! The U.S. Government is running a Ponzi scheme (USAPonzi) that is borrowing/stealing money ($102.1 Trillion so far) from the future U.S. taxpayers so that we can buy things we could not otherwise afford.
The U.S. Government does this with a corrupt and fraudulent fiscal policy that I call USAPonzi. This Ponzi scheme fiscal policy is caused by using Cash Accounting rather than the proper GAAP Accounting and by overspending on a cash basis. By undertaxing the current U.S. taxpayers by $102.1 Trillion (US Unfunded Liabilities (GAAP)), the U.S. Government has created $102.1 Trillion of imaginary-counterfeit money (See The Theory of Imaginary Money). As a result of this fraud, the U.S. Government has given the U.S. upper class $102.1 Trillion of imaginary-counterfeit wealth! This is what has caused the "Wealth and Income Gap".
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|| $82.8 Trillion
|US Unfunded Liabilities (GAAP)
|| $102.1 Trillion
|Total National Assets
Source: www.usdebtclock.org May 10, 2016
Our Total National Assets (US private net worth) are estimated to be $123.6 Trillion but $102.1 Trillion of that is imaginary-counterfeit money produced by the GAAP basis deficit spending of USAPonzi. Therefore, more than 4 out of 5 dollars of our private net worth have been produced by U.S. Government fraud: ($102.1T/($123.6T-102.1T) = 4.7).
We have been buying things we cannot afford with imaginary-counterfeit money that the U.S. Government has borrowed/stolen from the future U.S. taxpayers.
We have spent more than 5 times as much on cars as we can afford!
We have spent more than 5 times as much on airplanes as we can afford!
We have spent more than 5 times as much on houses as we can afford!
We have spent more than 5 times as much on office buildings as we can afford!
We have spent more than 5 times as much on apartment buildings as we can afford!
We have spent more than 5 times as much on TVs, computers, smartphones, restaurants, malls, resorts, golf courses, food, clothes, oil, gas, etc. as we can afford!
More than 4 out of 5 dollars that we have in our banks are imaginary-counterfeit dollars!
The U.S. Government has given us $102.1 Trillion of imaginary-counterfeit money to spend to make Americans appear prosperous and to make the U.S. upper class appear to be super wealthy.
The future U.S. taxpayers are now expected to pay for all of these things we have bought, built, and consumed but cannot afford. The tax bill that the future U.S. taxpayers now owe comes to $102.1 Trillion, our US Unfunded Liabilities (GAAP).
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.
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 ($102.1 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!