Truth in the U.S. Government!
May 25, 2017 Emailed to WSJ/NYT/DMN on May 25, 2017
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains why we need "Truth in the U.S. Government". The U.S. Government is not telling the truth because it is not using proper accounting. The U.S. Government is not using Generally Accepted Accounting Principles (GAAP Accounting) and as a result is making financial promises that it cannot keep. The U.S. Government is operating a Ponzi scheme that is enriching the U.S. ruling class, is colossally enriching the U.S. upper class, is colossally cheating the U.S. Common Man, and is colossally cheating the rest of the planet.
The "news media" has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can "feather their own nests" and "dramatically feather the nests of their upper-class friends".
Truth in the U.S. Government!
May 25, 2017
The U.S. Government is not telling the truth! The U.S. Government has been using a fraudulent accounting system for the last 48 years and as a result has been making financial commitments that it cannot possibly keep. This has caused the people in Washington to waste a colossal amount of time arguing over various fiscal policy decisions that are all unaffordable and unsustainable. Until the U.S. Government starts telling the financial truth, they will continue to waste time and money and will continue to frustrate both the Government and the people.
The first step in this process is to adopt Generally Accepted Accounting Principles (GAAP Accounting)! This is, in theory, a very easy step but it will be a very painful process. By using fraudulent accounting they have fraudulently produced a fantasy world for all Americans. The U.S. Government has been running a classical Ponzi scheme (USAPonzi) that has been enhancing the lifestyle of all Americans, has been dramatically enhancing the lifestyle of the U.S. ruling class, and has been colossally enhancing the lifestyle of the U.S. upper class.
We have all been spoiled because the U.S. Government is not telling the truth! The U.S. Government has stealthily and fraudulently borrowed $106.2 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans to make life easier for current Americans.
The healthcare arguments that are being made in the U.S. Government are all bunch of gibberish until they are truthfully assessed with a proper accounting system. Nobody in the U.S. Government is willing to state the obvious and admit that they are trying to squeeze blood out of a turnip. As soon as they start telling the truth, these arguments can be settled by rational people. They will not like the answer and the people will not like the answer but everyone will know the facts and the compromises that we will have to make.
We cannot provide blue ribbon healthcare (or social security) for everyone because it is just not affordable. The healthcare and Social Security benefits that we are getting today are not even close to being affordable. The U.S. Government is making promises that are impossible to keep. The current benefit promises are underfunded, on a GAAP basis, by $86.3 Trillion! That should be our first clue that we have a massive problem.
GAAP Accounting is the first step toward getting "Truth in the U.S. Government"! It is not only the first step it is the mandatory first step!
The U.S. Government is corrupt!
The U.S. Government is "cooking the books"!
The U.S. Government IS NOT OPERATING its current fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)!
The U.S. Government IS OPERATING a massive ($106.2 Trillion) Ponzi scheme (USAPonzi)!
The U.S. Government is creating imaginary-counterfeit money out of "thin air" by operating with Cash Accounting!
This fraud has already produced $106.2 Trillion of imaginary-counterfeit money and is producing another $15.26 Billion every day!
Because the future Americans have an infinite amount of imaginary-counterfeit money that the U.S. Government can fraudulently borrow, the U.S. upper class can get really rich and we can buy a lot more bombs, planes, and warships to further irritate the terrorists.
The U.S. Government must start telling the truth!
|| $19.9 Trillion
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org May 25, 2017
This U.S. Government 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 published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans.
This is the biggest ($106.2 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White