Stimulus Package must be Infinite! 201023
October 23, 2020
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 10/23/20
The Democrats, the Republicans, and the White House cannot agree on the size and focus of the next Stimulus Package to respond to the economic downturn that has been caused by the Coronavirus Pandemic!
The reason they cannot agree on how big this Stimulus Package should be is because it must be infinite! And nobody wants to admit to the fact that it must be infinite!
GAAP Accounting tells us that to keep the U.S. economy moving at the current pace and the wealth of Americans continuing to increase at the current pace, the U.S. Government will have to borrow an infinite amount of money! Patch work stimulus of a few trillion dollars will only help for a matter of a few months at best!
The corrupt U.S. Government is committing a fiscal and accounting fraud, a classic Ponzi scheme that I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class and this infinite amount of money can never be paid by the future Americans!
Donald Trump likes to claim that he is responsible for the success of the U.S. economy!
Donald Trump: “I have created the greatest economy ever!”
Donald Trump is right in the sense that America is the richest it has ever been but Trump did not create these riches!
Barack Obama: “Trump did not create these riches he inherited a robust economy from me!”
Barack Obama is right in the sense that Trump inherited a robust economy from him but Obama did not create this robust economy!
Neither Trump nor Obama created the robust American economy and the great riches in America!
Lyndon Baines Johnson created the robust American economy and the great riches in America!
In January of 1968, Lyndon Baines Johnson convinced the U.S. Congress to approve the Unified Budget for FY1969 which is a classic Ponzi scheme, I call it USAPonzi, that has been fraudulently borrowing money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class for the last 51 years so the U.S. economy continues to get stronger, the U.S. upper class continues to get richer, and the stock market continues to go higher! The corrupt U.S. Government has been printing imaginary-counterfeit money, so far $155.1 Trillion, and giving it to the U.S. upper class for the last 51 years!
To keep this Ponzi scheme going, to keep the robust American economy going, to keep the U.S. upper class getting richer and richer, and to keep the stock market going higher and higher; the corrupt U.S. Government will have to keep borrowing more and more money from the future Americans and giving it to the U.S. upper class which means infinite stimulus!
That is the nature of a Ponzi scheme! The operator of the Ponzi scheme has to keep borrowing more and more money from the late participants to keep the early participants happy!
GAAP Accounting tells us that we have US National Debt of $27.1 Trillion and US Unfunded Future Liabilities of $128.0 Trillion for total public liabilities (US Unfunded Liabilities (GAAP)) of $155.1 Trillion!
Further, GAAP Accounting projects a GAAP deficit in FY2021 of about $7.3 Trillion and the GAAP deficit in FY2021 will go up more if/when the U.S. Congress approves more stimulus!
The U.S. Government is in an impossible financial situation when the U.S. Government has public liabilities of $155.1 Trillion and the projected GAAP deficit in FY2021 ($7.3 Trillion) is more than twice the projected U.S. Government income (US Federal Tax Revenue) of $3.42 Trillion ($7.3T/$3.42T = 2.13)!
The corrupt U.S. Government is lying to the U.S. general public by telling us that we are the richest country on the planet and have the largest economy on the planet! America appears to be rich and prosperous simply because the corrupt U.S. Government has fraudulently borrowed $155.1 Trillion from the future Americans and given it to the U.S. upper class!
We appear to be rich and prosperous solely because the corrupt U.S. Government has assumed $155.1 Trillion of public liabilities and the corrupt U.S. Government is projected to add $7.3 Trillion more to these public liabilities in FY2021 when the U.S. Government only has income of $3.42 Trillion!
And worse yet, most of the current projected income of $3.42 Trillion comes from income taxes and capital gains taxes that have been produced by the economic activity generated by the $155.1 Trillion of imaginary-counterfeit money that the corrupt U.S. Government has fraudulently borrowed from the future Americans!
The U.S. economy appears to be doing great simply because the corrupt U.S. Government has fraudulently borrowed $155.1 Trillion from the future Americans and given it to the U.S. upper class!
The U.S. economy appears to be doing great simply because the corrupt U.S. Government has promised to pay the U.S. general public $128.0 Trillion of future benefits that it has not funded so that it can enrich the U.S. upper class and the U.S. ruling class!
The U.S. economy appears to be great for the U.S. upper class because the corrupt U.S. Government is printing an infinite supply of imaginary-counterfeit money to give to the U.S. upper class!
The U.S. economy is a disaster for the U.S. general public because their future benefits have been unfunded and their daily/hourly/monthly income cannot keep pace with the wealth of the U.S. upper class that is now estimated to be $154.9 Trillion and is increasing exponentially!
The corrupt U.S. Government cannot bail out the struggling U.S. economy with a few trillion more dollars of stimulus when the U.S. Government has public liabilities of $155.1 Trillion that are increasing exponentially!
A few trillion more dollars of stimulus will just kick the can down the road for a few months!
A major financial crisis, I call it The Greatest Depression, is looming and inevitable because of the $155.1 Trillion of public liabilities that are increasing exponentially that have been created by a corrupt U.S. Government!
This imaginary-counterfeit money, currently $155.1 Trillion, will evaporate into the “thin air” from whence it came when USAPonzi implodes!
The corrupt U.S. Government fiscal and accounting fraud that I call USAPonzi is causing multiple global crises for Planet Earth!
My Quintet of Global Crises commentary explains how this accounting fraud has caused three global crises (Social Injustice, Global Warming, and The Coronavirus Pandemic) and will cause at least two more global crises (The Hunger Pandemic and The Greatest Depression)!
|US National Debt
|US Federal Tax Revenue
|Cash Deficit in FY2021
|*GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org October 23, 2020
This accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
John W. White