Will Nancy Pelosi tare up President Biden's State of the Union Message. Not now since McCarthy is the Speaker ... and will he do it ... no he should give his own after the President. He won’t, but I will.
My fellow or non-fellow Americans, the State of the Union is in peril due to poor and incompetent leaders who sit on the pulpits of distortion and lies. For example, America is financially insolvent and past the tipping point of avoiding bankruptcy. Our Federal, State and City governments have misled us with the use of budgets as the financial management report for the solvency and stability of our Great American Enterprise. Yes, America and its United States are enterprises that never balance or meet budgets or report the financial position of our business of governing the largest enterprise in the world.
Effectively, since our inception the government has been designated as an institution not a business or in my vernacular an enterprise. Why is that? Because it is run by bureaucratic attorneys and professors of superior knowledge who tactically have never started or run a business or enterprise. Essentially, using cash basis budgeting for the reporting tool they can deceive the public with borrowing the difference between cash in (taxes) and cash out (deficit spending). How? Well, the budgets treat borrowing and deferral of expenditures as current budget balancing tactics. When doing this they ignore generally accepted accounting principles imposed on every business enterprise so they don't have to be held accountable for never balancing a budget ... it is a tool of distortion and inaccuracies, at best.
What is the effect on America and its Republic financial status? What looks good on paper is not good for managing transactions of trillions of dollars. The debt clock was developed by the Chamber of Commerce and the US Budget Office to estimate the impact of reporting American governance on a GAAP basis ... in other words what would it look like if it was done in reality for reporting the true financials status of the Great American Enterprise? If you care to look at the difference in cooking the books, so to speak, and reality go to www.usdebtclock.org for the Federal and Stat of the Union in real numbers using GAAP accounting not cash basis budget accounting. It is night (budgetary distortion) and day (accrual accounting).
So, what's the big deal. Well the State of the Union for the last 75 years has been distorted to the extent that the voters have no idea about debt limits, defense budgets, trickledown economics, trickle up economics, deficit spending, default on treasures, an inverted yield curve, spending 125% over GDP, not recording $158 trillion in unrecorded obligations for Medicare, Obama Care, Medicaid, Social Security, 13 different entitlement programs not accrued, interest on current and long term debt not accrued, trillions of dollars of Federal and State pensions not accrued or funding amortized, State governors not accountable for any analytical data to measure performance relative to other governors ... etc. etc. etc. America is being run like the corner drug store with the money coming in, including borrowing and the money going out excluding the cost of future obligations) is what is left over at the end ot the day, week, month or year with no idea of what is left after paying all the hidden costs of government.
The State of the Union Federal, State< County and City is a disaster siting on a derivative bubble of $500 trillion American dollars (the Fed, Stock Market, short- and long-term Debt, college debt, credit card debt, mortgage debt, pension debt, interest on short- and long-term debt due to the imbalance of trade and use of fiat money and treasuries to purchase and pay the shipping of trillions more than we earn from global trade.
