USAPonzi-The Biggest Ponzi Scheme on the Planet-The U.S. Government

                    Copyright Declaration                                                                                                                                       John W. White    March 29, 2013

GAAP Deficit-current
July 18, 2021


usdebtclock.org has stopped explicitly reporting the GAAP Deficit because it is almost impossible to predict the GAAP basis deficit spending of the U.S. Government. My estimate of the GAAP Deficit for FY2021 is a simple extrapolation of the GAAP Deficit to date to a projection for the full fiscal year. If/when the U.S. Government approves more economic stimulus, this projection will be very erratic! The change in US Unfunded Liabilities (GAAP) so far in FY2021 indicates that the GAAP Deficit in FY2021 will be about $17.48 Trillion. The following table shows the change in US Unfunded Liabilities (GAAP) since the start of FY2021 on October 1, 2020.


US Unfunded Liabilities (GAAP)

October 1, 2020  $139.500 Trillion 
July 18, 2021  $153.380 Trillion 
GAAP Deficit to date  $13.880 Trillion 

 

GAAP Deficit/day = ($153.380T - $139.500T)/290 days) = $47.9 Billion/day

GAAP Deficit in FY2021 = GAAP Deficit/day*365 = $17.49 Trillion/year

US National Debt  $28.5 Trillion 
Cash Deficit in FY2021  $3.19 Trillion 
GAAP Deficit in FY2021  $17.48 Trillion 
US Unfunded Future Liabilities  $124.9 Trillion 
US Unfunded Liabilities (GAAP)  $153.4 Trillion 
Imaginary-Counterfeit Money  $153.4 Trillion 
US Total National Assets  $174.2 Trillion 

Source: www.usdebtclock.org July 18, 2021

End of commentary