US Fiscal Policy $159T Dilemma 210301
March 1, 2021
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 3/1/21
The Dilemma: Should we or should we not approve a $1.9 Trillion stimulus package that would add another $1.9 Trillion to our current public liabilities of $159.5 Trillion in order to “save the economy”?
I contend that whatever the size of the stimulus package, it will only be a temporary relief to the U.S. economy since the U.S. Government is running a $159.5 Trillion Ponzi scheme!
I am a whistleblower! The U.S. Government is corrupt! The corrupt U.S. Government is committing a fiscal and accounting fraud, I call it USAPonzi, that is borrowing money, I call it imaginary-counterfeit money, from the future Americans to enrich the U.S. upper class! The U.S. Government is not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting)!
As of March 1, 2021, the corrupt U.S. Government has fraudulently borrowed $159.5 Trillion (US Unfunded Liabilities (GAAP)) of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class!
USAPonzi has made the U.S. economy look really great for the U.S. upper class, who couldn't use an easy $159.5 Trillion, but this fiscal and accounting fraud has been devastating for the U.S. general public (the rich get richer and the rest get screwed)!
Now the U.S. Government is debating whether or not we need a stimulus package to “save the economy” and bail out the devastated U.S. general public! Some say the U.S. economy is doing just fine and we do not need a stimulus package! Some say the situation is dire and we need a $1.9 Trillion stimulus package!
I contend that we need an infinite stimulus package to keep USAPonzi humming along just fine! We need to keep money coming in so the U.S. upper class can keep getting richer and richer!
The corrupt U.S. Government is using an accounting system (Cash Accounting) that dramatically understates our financial liabilities! The corrupt U.S. Government is not using proper GAAP Accounting!
A $1.9 Trillion stimulus package would nominally add $1.9 Trillion to our National Debt which is currently $28.0 Trillion which seems like a large increase of 6.8%!
However, a $1.9 Trillion stimulus package would nominally add $1.9 Trillion to our public liabilities (US Unfunded Liabilities (GAAP)) of $159.5 Trillion which seems like a small increase of 1.2%!
The problem is that the corrupt U.S. Government has already committed to borrow $159.5 Trillion to meet its current public liabilities and these public liabilities are increasing exponentially!
The following chart estimates that our public liabilities could be as much as $236 Trillion by 2025 and $385 Trillion by 2030!
Before long, Jeff Bezos is going to be really rich, instead of just the measly $194.9 Billion he had on Feb 2, 2021, if the corrupt U.S. Government will just keep borrowing money from the future Americans so we can keep buying stuff from Amazon!
Bezos, meanwhile, enjoyed equally massive gains: His net worth hit $194.9 billion, according to Bloomberg data. A large part of Bezos's wealth is from Amazon stock, of which he owns 53.2 million shares, or 10.6% of shares outstanding. Fortune.com Feb 2, 2021
So, it really does not make much difference how much stimulus the U.S. Congress approves right now because, whatever it is, it is going to be a “drop in the bucket” compared to our future financial commitments!
The corrupt U.S. Government has a serious fiscal policy problem!
The corrupt U.S. Government is committing a fiscal and accounting fraud, I call it USAPonzi, that dramatically understates our public liabilities, enriches the U.S. upper class, cheats the U.S. general public, causes Global Warming, causes the Coronavirus Pandemic, and destroys Planet Earth!
The following commentaries explain this fiscal and accounting fraud that I call USAPonzi!
USAPonzi-The Great American Fraud
Whistleblower Letter #3 to U.S. General Public
Whistleblower Letter #6 to Congress
The devastating impact of this accounting fraud on Planet Earth is summarized in my Oct 1, 2020 commentary.
Quintet of Global Crises (Economy, Climate, Health, Hunger, Depression)
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org March 1, 2021
The current fiscal policy of the corrupt U.S. Government, I call it USAPonzi, is Destroying Planet Earth!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White