We are living on borrowed money!
We are living on borrowed time!
Jun 18, 2015
Updated July 9, 2015 to correct Debt double count. After further research of the usdebtclock GAAP Unfunded Liabilities, I have determined that this number includes the National Debt. In my prior commentaries I had separated money spent (debt) from money promised to be spent (unfunded liabilities). I will maintain that terminology on this website but recognize that the usdebtclock Unfunded Liabilities = Debt + Unfunded Future Liabilities.
As posted on www.usaponzi.com
The United States of America is living on borrowed money; money we have borrowed from the future U.S. taxpayer. The United States of America is living on borrowed time; time that we have borrowed by operating a Ponzi scheme to make the rest of the planet think we are rich and prosperous and can therefore buy their goods and services with the counterfeit money that we have borrowed from the future U.S. taxpayer (see The U.S. Government is Corrupt!).
The U.S. Government has been operating this Ponzi scheme (USAPonzi) since FY1969 and the rest of the planet is still falling for this fraud even though we have now borrowed $96.8 Trillion from the future U.S. taxpayer as of June 18, 2015. The www.usdebtclock.org website reports that we now have Debt of $18.3 Trillion and Unfunded Future Liabilities of $78.5 Trillion.
It is only a matter of time until the rest of the planet realizes that we are using counterfeit money to buy their goods and services. It is only a matter of time until USAPonzi implodes!
The U.S. citizens and businesses appear to have Private Net Worth of $118.1 Trillion, according to www.usdebtclock.org, but $96.8 Trillion of this has been borrowed from the future U.S. taxpayer and we know that he can never pay this tax bill because he has not even been paying his current period bills for the last 5 decades let alone paying this balloon and ballooning payment of $96.8 Trillion. We borrow another $15.1 Billion from the future U.S. Taxpayer every day since our GAAP Deficit is $5.5 Trillion for FY2015 according to www.usdebtclock.org ($5.5 Trillion/365 = $15.1 Billion).
Who does the U.S. Government think they are kidding? The U.S. citizens? The rest of the planet?
The U.S. Government must start telling the truth! The U.S. Government is lying to the U.S. citizens and is lying to the rest of the planet! The U.S. Government must start using honest accounting!
The decision makers in the U.S. Government are using their positions of power to make themselves rich and prosperous and to make their rich friends (the upper class U.S. citizens and businesses) super rich and super prosperous. The U.S. Government does this at the expense of the common man in the U.S. and at the expense of the rest of the planet. The U.S. Government does this by creating counterfeit money with GAAP basis Deficit Spending which has deferred $96.8 Trillion to the future U.S. taxpayer.
This is fraud! This is corruption! This is being done by what Ronald Reagan referred to as "The Shining City on the Hill" (The United States of America). This is being done by fraud and corruption on "The Hill" (Washington D.C.).
The people of power in Washington D.C. will do and say anything to get themselves elected because they know that this Ponzi scheme will continue to make them rich if they can just get elected. But this is all "A Big Lie" and since it continues we have verification that the majority of the people of power in Washington D.C. are liars and cheaters.
Who will it be that steps forward to start telling the truth?
We are living on borrowed money and we are living on borrowed time. When will the time come for this Ponzi scheme to implode? When will it happen?
See The Implosion of USAPonzi for my predictions of what will happen when USAPonzi implodes.