BORROW or ROB FROM PETER TO PAY PAUL (A PONZI SCHEME OF EPIC PROPORTIONS)

The Federal, State and Local government entities failed to comply with the fiscal and financial responsibilities using generally accepted accrual accounting principles acted into low in 1958. The Federal government then borrowed money using IOR US Treasuries (a Bernie Madoff look-a-like scheme) thur robing from trust funds,to defer paying for the cost of government payroll, pension redemptions, interest on conventional debt, arms contractual obligations, social security checks, foreign aid, proxy war payments, Medicare claims, infrastructure commitments, Federal revenue sharing, that are budgetary items claiming the budget is balanced by adding in debt as cash flow. And added its annual deficits in GDP calculations to meet its credit rating criteria.  Violating the contract with America passed by the Republicans in1984 and its liquidity levels established at that time. . The result is habitual negative cash flow, understated deficits, insolvency and not able to service long and short-term debt, by raising the debt ceiling 79 times. Under Chapter 15 of the international bankruptcy rules, the Federal, State and Local balance sheets require a quasi-reorganization of the institutions of government at all levels to prevent a bankruptcy filing by any two of their creditors holding US Treasuries to term. Correspondingly the accrued interest is not recorded until redemption on discounted Treasury bills. Nor are any adjustments made to the annual budgetary system to reflect GAAP accounting for funding future obligations for social security, Medicare, Medicaid, and 13 entitlements.