Whistleblower Letter #1 to US General Public-current
July 1, 2020
I am a Whistleblower! The U.S. Government is corrupt!
The corrupt U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The corrupt U.S. Government is being run by common criminals that have committed a $153.0 Trillion crime!
The corrupt U.S. Government is lying to and cheating the U.S. general public by promising them U.S. Government benefits but is not taxing the U.S. upper class enough to pay for these benefits! The corrupt U.S. Government should be operating its fiscal policy with GAAP Accounting, also called accrual accounting, to properly accrue the money to pay for future U.S. Government benefits!
The U.S. upper class is getting rich because they are being undertaxed and the U.S. general public is getting screwed because the corrupt U.S. Government is falsely promising benefits that it is not properly funding!
The corrupt U.S. Government has fraudulently given the U.S. upper class $153.0 Trillion by undertaxing them and has cheated the U.S. general public by $126.7 Trillion by underfunding the future benefit promises! The corrupt U.S. Government has created a social injustice gap of $279.7 Trillion by enriching the U.S. upper class (by $153.0 Trillion) and cheating the U.S. general public (by $126.7 Trillion)!
The corrupt U.S. Government is committing a fiscal and accounting fraud, by not using proper GAAP Accounting, that is causing the gigantic ($279.7 Trillion) economic inequality as explained above, is causing Global Warming, is causing the Coronavirus Pandemic, is promoting White Supremacy, and is causing the Death of Planet Earth!
The corrupt U.S. Government has been running a classic Ponzi scheme for the last 51 years, I call it USAPonzi, that is stealthily and fraudulently borrowing money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them with GAAP basis deficit spending!
I call this fraudulently borrowed money (imaginary-counterfeit money) because the corrupt U.S. Government pretends like (imagines) the future Americans will be able to pay it someday, but the future Americans can never pay it, so it is (counterfeit).
My fifth whistleblower letter to the U.S. Congress provides more insight into this accounting fraud that I have named USAPonzi!
|US National Debt
|Cash Deficit in FY2020
|*GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org July 1, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$26.9 Trillion (>$153.0T-$126.1T = >$26.9T).
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