The U.S. Government is Corrupt!
The U.S. Government is creating counterfeit money!
$96.5 Trillion of counterfeit money!
June 15, 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 U.S. Government is Corrupt! The Fiscal Policy of the U.S. Government is a classic Ponzi scheme! The U.S. Government, by using a corrupt and fraudulent accounting system, is undertaxing the U.S. citizens and businesses by a GAAP Deficit of $5.5 Trillion a year ($15.1 Billion a day) according to www.usdebtclock.org. This has created an unpayable tax bill of $96.5 Trillion for the future U.S. taxpayer and has given U.S. citizens and businesses $96.5 Trillion of counterfeit money.
Let me say that one more time. The U.S. Government has undertaxed the U.S. citizens and businesses by $96.5 Trillion, creating Debt of $18.2 Trillion and Unfunded Future Liabilities of $78.3 Trillion, that appears to make U.S. citizens and businesses $96.5 Trillion richer because they did not have to pay these taxes. But these Public Liabilities can never be paid by the future U.S. taxpayer so this is just $96.5 Trillion of counterfeit money. The GAAP basis Deficit Spending of the U.S. Government is producing this counterfeit money at a current rate of $15.1 Billion a day.
As long as the U.S. Government continues to operate with an unbalanced GAAP basis budget, like it has been doing since FY1969, U.S. citizens, as a group, will appear to be getting richer and richer and U.S. businesses, as a group, will appear to be more and more profitable. We will just continue to have more and more counterfeit money introduced into the global economy by our Fiscal Policy.
This Fiscal Policy (USAPonzi) is allowing us "to live dramatically beyond our means". The U.S. Government is paying much more in social benefits than we can afford. The U.S. Government is paying our Government workers and supporting Government businesses much more than we can afford. The U.S. Government is not taxing the U.S. citizens and businesses nearly enough to pay for what it is spending and committing to spend. The U.S. Government is making the most prosperous U.S. citizens and businesses appear to be much much more prosperous by dramatically undertaxing them.
The more prosperous you are the more benefit you appear to get from this corrupt and fraudulent Fiscal Policy. This is what is causing the "wealth gap" to widen. Warren Buffett has known about this Government fraud for more than 40 years (see Buffett on Pensions), has become super wealthy because of this fraud, and has appeared to be an investing genius because of this fraud (see Buffett makes $10M a day on U.S. Gov Corruption). The U.S. Government has given Warren Buffett $57 Billion of counterfeit money because of this fraud!
The Monetary Policy of the Federal Reserve that has created $4.5 Trillion of counterfeit money by the phantom purchase of debt instruments, now called Quantitative Easing, but this counterfeit money created by Monetary Policy is a virtual "drop in the bucket" compared to the $96.5 Trillion of counterfeit money that our Fiscal Policy has created by undertaxing the U.S. citizens and businesses.
I cannot possibly state this any more directly! The U.S. Government is using a corrupt and fraudulent accounting system! The people in the U.S. Government are a bunch of liars and cheaters! The People in the U.S. Government are systematically taking imaginary money (counterfeit money) from the pockets of the future U.S. taxpayer and giving some of it to the social benefit recipients, paying some of it to themselves as unaffordable salaries, but most of it is being stuffed into the pockets of the most prosperous citizens, and into the coffers of the most prosperous businesses as counterfeit wealth.
The current U.S. citizens and businesses, as a group, appear to get rich and the future U.S. taxpayers get the tax bill. That is the classic result of a Ponzi scheme; the early participants make out like bandits and the late participants get hosed.
This is money that is being created out of "thin air". There is no way this tax bill can be paid by the future U.S. taxpayer! This is a hoax! This is "smoke and mirrors"! The people in Washington are lying to the general population by promising to pay them social benefits but they are not taxing the upper class U.S. citizens and businesses to pay for these promises. This is all "One Big Lie"! And "The Big Lie" gets bigger every day! This is the nature of a Ponzi scheme!
The people in the U.S. Government and their supporting businesses are living the good life because of this fraud. The people in the upper class are living the super good life because of this fraud. The upper class is appearing to become super rich because they do not have to pay the taxes to cover the cost of what the U.S. Government is spending and committing to spend. Many people in the rest of the U.S. population are headed toward financial devastation because they still think they are going to get paid their social benefits but the U.S. Government is lying to them by not funding these promises.
As this website has repeatedly stated, the rate at which the U.S. Government is creating Public Liabilities, is creating counterfeit money, and is creating imaginary Private Net Worth are all increasing at an exponentially expanding pace. But again I say, this is the nature of a Ponzi scheme. The lie, the hoax, the fraud gets bigger and bigger until it finally implodes.
This is a Ponzi scheme!. This is a hoax! This is being done with smoke and mirrors! This is corruption! This is fraud! But when the people in power are getting such massive personal benefits from this fraud and corruption they do not want to admit that they are lying and cheating. They do not want to admit that their fiscal policy is corrupt and fraudulent. They are paying themselves and their rich friends with this counterfeit money.
The U.S. Government is getting all over FIFA (Federation Internationale de Football Association) for a simple little matter of taking bribes of $150 Million since the early 1990s when they themselves have been operating a $96.5 Trillion fiscal fraud since FY1969. USAPonzi is nearly a million times bigger fiscal fraud than the FIFA bribery fraud and more than 2,000 times bigger than the Madoff fraud of $50 Billion.
The U.S. Government is passing out "free money" (counterfeit money) to the U.S. citizens and businesses every single day ($15.1 Billion a day) and the rest of the world wonders how the United States can be so prosperous and wealthy. The U.S. Government does it by cheating! The U.S. Government does it with fraud and corruption! The U.S. Government does it by creating a massive amount of counterfeit money.
This explains "American Economic Exceptionalism."
See "The Distortions of USAPonzi" for an explanation of what we have been able to achieve with this $96.5 Trillion of counterfeit money that the U.S. Government has handed out over the last 46 years.
See "The Implosion of USAPonzi" for an explanation of what I predict will happen when this fraud is broadly exposed and acknowledged.
The U.S. Government does not tax the current U.S. citizens and businesses to pay for its spending and committing to spend and defers this cost to the future generations of taxpayers who can never pay this tax bill so the money and wealth that appears to be gained by the current U.S. citizens and businesses is counterfeit money. $96.5 Trillion of counterfeit money.
Yes it is as simple as that!!!
U.S. Government corruption has produced
"The Biggest Ponzi Scheme on the Planet"