...Who is the world’s greatest financial fraudster? Bernie Madoff? Not even close.
...
The world’s biggest financial fraudster is not one person; it is a group composed of those politicians and government bureaucrats who, on a daily basis, ignore the consequences of their actions as they misuse hard-earned taxpayer funds to further their own political or personal agendas. We will call this fraudster the TPP (for thoughtless power-hungry politicos).
TPP members of
Congress made promises to the American people that are impossible to keep. They have said, “
Give us your money in Social Security and Medicare taxes, and we promise to give you a specified set of retirement benefits and medical care for the remainder of your lives.” The money they took in for Social Security and Medicare was supposed to have been put in a trust fund - remember Al Gore’s famous “lock box” - but
the money in the trust fund was spent way back in the Johnson administration.
All the money that has come in since for the “trust fund” has been spent by succeeding generations of politicians on their pet projects.
Even the U.S. government admits that the outstanding liability for all of these promises is almost $100 trillion (or approximately $325,000 for every man, woman and child in the United States) and is increasing at $10 trillion per year. One hundred trillion dollars is more than six times the U.S. gross domestic product. No matter how high tax rates go, this amount of money will be impossible to pay off.
Finally, TPP members have saddled the American taxpayer with another $4 trillion in additional debt in just the past four years. This works out to about $13,000 for every man, woman and child in the country.
The citizens were promised a high-growth economy if they allowed Congress and the Obama administration to spend all of this money. Instead, they have been given persistent high unemployment, a falling dollar that makes the U.S. relatively poorer compared to the rest of the world and stagnant real incomes.
Who will go to jail for this multitrillion-dollar financial fraud?
http://www.washingtontimes.com/news/2011/may/9/worlds-biggest-financial-fraudsters/
