USAPonzi-The Biggest Ponzi Scheme on the Planet-The U.S. Government

                    Copyright Declaration                                                                                                                                       John W. White    March 29, 2013

USAPonzi Reporting Adjustment 210501
May 1, 2021


The financial information used in my websites and books to expose the corruption within the U.S. Government, that I call USAPonzi, had a major adjustment/correction on May 1, 2021.


I am attempting to expose the fact that the U.S. Government is “cooking the books” by not using proper and Generally Accepted Accounting Principles (GAAP Accounting) to assess, operate, and report its financial condition! The U.S. Government is promising future benefits to the U.S. general public but is not using GAAP Accounting to properly accrue for these future benefits!


The corrupt U.S. Government started this accounting fraud in FY1969 and has been attempting to conceal this accounting fraud by refusing to formally report the magnitude this fraud!


The financial information reported in my websites and books have been based on the estimates reported on the website www.usdebtclock.org since the U.S. Government does not report its financial condition on a GAAP basis!


On May 1, 2021, usdebtclock.org reduced its estimate of US Unfunded Liabilities (GAAP) from $162.9 Trillion to $147.7 Trillion!


This is a problem when one is trying to expose a fraud and the entity, in this case the U.S. Government, committing the fraud is trying to conceal the fraud!


The adjustment/correction made by usdebtclock does not change the fact that the U.S. Government is corrupt, it only affects the magnitude of the corruption!


The following table shows how this adjustment reduces the US Unfunded Future Liabilities as estimated by usdebtclock.

April 30, 2021  May 1, 2021 
US National Debt  $28.2 Trillion  $28.2 Trillion 
Cash Deficit in FY2021  $3.26 Trillion  $3.26 Trillion 
*GAAP Deficit in FY2021  $14.16 Trillion  $14.16 Trillion 
US Unfunded Future Liabilities  $134.7 Trillion  $119.5 Trillion 
US Unfunded Liabilities (GAAP)  $162.9 Trillion  $147.7 Trillion 
Imaginary-Counterfeit Money  $162.9 Trillion  $147.7 Trillion 
US Total National Assets  $161.7 Trillion  $161.7 Trillion 

Source: www.usdebtclock.org  May 1, 2021
*
Author's estimate


After May 1, 2021 my commentaries and books will reflect this adjustment.


End of commentary