The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"  USAPonzi    Copyright Declaration     by John W. White   Mar 29, 2013

GAAP Deficit-current
December 1, 2020


usdebtclock.org has stopped explicitly reporting the GAAP Deficit because it is almost impossible to predict the GAAP basis deficit spending of the U.S. Government. My estimate of the GAAP Deficit for FY2021 is a simple extrapolation of the GAAP Deficit to date to a projection for the full fiscal year. If/when the U.S. Government approves more economic stimulus, this projection will be very erratic! The change in US Unfunded Liabilities (GAAP) so far in FY2021 indicates that the GAAP Deficit in FY2021 will be about $6.57 Trillion. The following table shows the change in US Unfunded Liabilities (GAAP) since the start of FY2021 on October 1, 2020.


US Unfunded Liabilities (GAAP)

October 1, 2020  $154.7 Trillion 
December 1, 2020  $155.8 Trillion 
GAAP Deficit to date  $1.1 Trillion 

 

GAAP Deficit/day = ($155.8T - $154.7T)/61 days) = $18.0 Billion/day

GAAP Deficit in FY2021 = GAAP Deficit/day*365 = $6.57 Trillion/year

US National Debt  $27.3 Trillion 
Cash Deficit in FY2021  $3.21 Trillion 
GAAP Deficit in FY2021  $7.30 Trillion 
US Unfunded Future Liabilities  $128.5 Trillion 
US Unfunded Liabilities (GAAP)  $155.8 Trillion 
Imaginary-Counterfeit Money  $155.8 Trillion 
US Total National Assets  $157.5 Trillion 

Source: www.usdebtclock.org December 1, 2020

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