By committing to pay social benefits to U.S. Citizens that dramatically exceed the Government's financial capability.
By only assessing enough tax revenue to nominally cover our current year cash spending and not collecting the tax revenue required to pay the future social benefit promises.
By not disclosing the fact that they are not setting money aside in trust funds to pay for the future social benefit promises.
Our Government's total financial liabilities exceed our total public and private assets (see "Our Government is Totally Broke").
USAPonzi is creating counterfeit money
The U.S. Government is making massive financial commitments that it claims the future taxpayers can eventually pay. As a result, the U.S. (and global) economy is running on a Giant Credit Card, in the name of the future taxpayers, that now has a balance due of $98.1 Trillion, our GAAP Obligation as of Oct 1, 2104, and we are putting $19.0 Billion more on this Giant Credit Card every day during FY2015.
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