Gagging on a Gnat while swallowing a Camel!
The great "Planned Parenthood Funding" diversion!
Oct 1, 2015 Emailed to SEC WSJ NYT & DMN Oct 5, 2015
As posted on www.usaponzi.com
The U.S. Government is "Gagging on a Gnat while swallowing a Camel". The Government of the United States of America is spending most of their annual budget debate time feuding over whether or not they should spend $500 Million on Planned Parenthood when they should be focused on how they are going to deal with a GAAP Deficit of $5.9 Trillion in FY2016 and US Unfunded Liabilities (GAAP) of $98.5 Trillion.
The U.S. Government's Fiscal Policy is corrupt and fraudulent!
The U.S. Government's Fiscal Policy is a Ponzi Scheme! (USAPonzi).
The U.S. Government is using a fraudulent accounting system to help conceal their fiscal corruption.
The U.S. Government is using Cash Accounting when it should be using GAAP Accounting.
The U.S. Government is dramatically overpaying the Government employees! Contributing to $18.4 Trillion of National Debt.
Giving the Government employees upscale but unaffordable lifestyles!
The U.S. Government is dramatically overpaying the social benefit recipients! Contributing to $18.4 Trillion of National Debt.
Giving social benefit recipients artificially elevated lifestyles!
The U.S. Government is not funding the future social benefit commitments! Creating $80.1 Trillion of Unfunded Future Liabilities.
Putting the future social benefit recipients, pensioners, and veterans at great financial peril!
The U.S. Government is dramatically undertaxing the U.S. citizens and businesses! Producing GAAP basis Deficit Spending of $5.9 Trillion as projected for FY2016.
Making the U.S. upper class citizens and businesses appear to be filthy rich! Creating $98.5 Trillion of counterfeit money and counterfeit wealth since USAPonzi was launched in FY1969.
The U.S. Government has deferred Public Liabilities of $98.5 Trillion to the future U.S. taxpayer with this GAAP basis Deficit Spending. These Public Liabilities can never be paid.
This Ponzi scheme Fiscal Policy, with its massive GAAP basis Deficit Spending, is creating counterfeit money as the U.S. Government incurs these massive Public Liabilities. The following table shows the projected Income, GAAP Spending, and GAAP Deficit for FY2016 and the Credit Card Balance as of the first day of FY2016.
Income $3.252 Trillion Ratio to Income
Spending $9.151 Trillion 2.8X GAAP basis
GAAP Deficit $5.899 Trillion 1.8X
Credit Card Balance $98.549 Trillion 30.3X US Unfunded Liabilities (GAAP)
Counterfeit Money $98.549 Trillion
Every dollar that the U.S. Government puts on its Credit Card becomes a counterfeit dollar in the pocket of the U.S. citizen or business that did not have to pay that tax dollar. This is how the U.S. Government is appearing to make the U.S. upper class citizens and businesses filthy rich.
The U.S. Government is projected to spend 2.8X its Income in FY2016.
The U.S. Government has a Credit Card Balance (US Unfunded Liabilities (GAAP)) that is 30.3X its projected Income for FY2016.
The U.S. Government put $5.4 Trillion on its Credit Card in FY2015 and is projected to put another $5.9 Trillion on its Credit Card in FY2016.
The U.S. Government has much better things to debate regarding our FY2016 Budget than the funding of Planned Parenthood. That should not be a debate at all. We can't afford it so don't do it.
The U.S. Government is
"Gagging on a Gnat while swallowing a Camel".
Funding for Planned Parenthood $500,000,000 The Gnat
GAAP basis Deficit $5,900,000,000,000 The Camel
The U.S. Government is making the Funding of Planned Parenthood the central focus of approving the FY2016 Budget and totally ignoring the real problem which is the GAAP basis Budget Deficit that is more than 10,000 times larger.
The U.S. Government is right now going though the approval process for the FY2016 budget that will authorize GAAP basis Deficit Spending of $5.9 Trillion in FY2016 and will increase our Public Liabilities to $104.4 Trillion!!!!
The U.S. Government is using fraudulent accounting and making unaffordable, false, and unfunded social benefit promises to the U.S. citizenry, so that it can overpay itself, its employees and its related businesses and make the U.S. upper class appear to be super wealthy. Ponzi schemes can cause severe distortions and USAPonzi is no exception.
To correct these Fiscal Policy Issues, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget in order to establish an equitable and sustainable fiscal policy for the Government of the United States of America.
This Fiscal Policy is a Ponzi scheme that I have named USAPonzi.
USAPonzi is "The Biggest Ponzi Scheme on the Planet".
The U.S. Government is planning to distribute $5.9 Trillion more counterfeit money in FY2016 to keep this Ponzi scheme going. That's $16.2 Billion every day. That's $18,323 for every man, woman, and child this year ($5.9T/322 million citizens = $18,323). That is how the U.S. Government is stimulating the U.S. and global economy, it just creates more counterfeit money with GAAP basis Deficit Spending. That is how the U.S. Government is creating The Myth of American Economic Exceptionalism.
Because of this corrupt and fraudulent Fiscal Policy, I predict that we are headed toward a global financial system meltdown because the U.S. Government will be forced to declare bankruptcy.
See The Implosion of USAPonzi for an explanation of what I predict will happen when USAPonzi implodes and this global financial system meltdown occurs.
Financial data presented in this commentary was sourced from www.usdebtclock.org as of October 1, 2015.