The U.S. Government is lying to you! The U.S. Government is corrupt and fraudulent! The U.S. Government is promising you social benefits that it does not have the financial capability to fulfill. The U.S. Government is promising to pay you social benefits but is not funding these promises. The U.S. Government is making the rich people and the rich businesses very, very rich by not funding the social benefit promises and by taxing them even less than the U.S. Government is spending on a cash basis. The U.S. Government is paying themselves and their employees much more than the taxpayer can afford by spending more than the U.S. Government's income.
The U.S. Government is using a corrupt and fraudulent accounting system by using Cash Accounting instead of the appropriate GAAP Accounting (Generally Accepted Accounting Principles). Because of this, the U.S. Government is promising to pay social benefits but is not taxing the prosperous U.S. citizens and U.S. businesses nearly enough to pay for these social benefit promises creating Unfunded Liabilities. By undertaxing the prosperous U.S. citizens and U.S. businesses, the U.S. Government is making them very, very rich by incurring Public Debt of $12.9 Trillion, Intragovernmental Debt of $5.1 Trillion, and Unfunded Liabilities of $81.3 Trillion for a total GAAP Obligation of $99.3 Trillion. By spending more than the U.S. Government takes in as tax revenues, the U.S. Government is also able to overpay themselves and the direct and indirect employees of the U.S. Government.
By using a corrupt and fraudulent accounting system and by overspending its cash budget, the U.S. Government
is making the rich appear 8 times richer than they really are,
is overpaying themselves and the direct and indirect government employees,
and is cheating the common man and the underprivileged by not funding the social benefit promises.
The people in Washington, the people on Wall Street, the business people, the rich, and the famous (sometimes called the 1%ers) all love this corrupt and fraudulent accounting system since it is making them appear to be very, very rich (by $99.3 Trillion, our GAAP Obligation) but the people on main street, especially the underprivileged, are getting cheated (by $86.4 Trillion, the shortfall of the social benefit trust fund). The direct and indirect employees of the Government also love this Ponzi scheme because they are overpaid by the U.S. Government incurring $12.9 Trillion of Debt.
Let me say that again. The current U.S. Government fiscal policy has undertaxed the rich by $99.3 Trillion making them $99.3 Trillion richer and has short changed the common man and the underprivileged by $86.4 Trillion; meaning that there is no way the U.S. Government can fulfill the current social benefit promises!
The U.S. Government is systematically taking from the poor and giving to the rich.
The U.S. Citizenry must demand that the U.S. Government adopt GAAP Accounting and a balanced GAAP basis budget so that the U.S. Government can keep its social benefit promises and so that the U.S. Government starts operating with a fair, equitable, and sustainable fiscal policy.
Because of the current fiscal policy, the U.S. Government is running a classic Ponzi Scheme (USAPonzi) by promising to pay returns (social benefits) that far exceed its ability to pay for them and is covering this up with corrupt and fraudulent accounting. The U.S. Government is doing exactly what Bernie Madoff and the executives at Enron did; but on a scale that is 2000 times bigger than either of these frauds, making the fiscal policy of the U.S. Government
"The Biggest Ponzi Scheme on the Planet."
This Ponzi scheme makes the United States appear much more prosperous and productive than it really is by charging $100 Trillion (I estimate that our GAAP Obligation will reach this level by Jan 10, 2015) on the credit card of the future U.S. taxpayer (see The $100 Trillion Counterfeit Money Machine). The U.S. Government is charging $17.8 Billion more on the credit card of the future U.S. taxpayer every day!
This is why the stock market continues to go up. This is why we have such a wealth gap. The UPPER CLASS (the RULING CLASS) is getting rich with this corrupt and fruadulent accounting while the middle class and the lower class are getting ripped off. This is why the underprivileged are headed toward financial devastation. This is why the people that are paying into Social Security will not get paid back; the U.S. Government has already spent all of the money that has been paid into Social Security and all of the other social benefit programs creating Intragovernmental Debt of $5.1 Trillion. This is why the promised healthcare benefits cannot be met (see Empty Promises to the Underprivileged).
The U.S. Government is filled with Liars and Cheaters. They are lying by telling you that they will pay you the current social benefit promises but they are not funding these promises. They are cheating by paying themselves and their employees more than the taxpayer can afford. The people that work for the government, the people on Wall Street, the people in prosperous businesses, and the prosperous people (the rich) are all actively supportive of this corrupt and fraudulent fiscal policy and the corrupt and fruadulent U.S. Government because it is making them all richer by cheating the common man and the underprivileged.
GAAP Accounting and a balanced GAAP basis Budget is the first step toward fairness and sustainability.
The U.S. citizenry must the demand that the U.S. Government start using an honest accounting system!
See www.usaponzi.com for more information about this Ponzi scheme.