A CONTINUING MISREPRESENTATION OF OUR FISCAL CONDITION
(…by both political campaigns)

President Obama and Governor Romney, along with their respective political party cohorts and supporters, continue to misrepresent our fiscal condition, hoping thereby to gain an advantage in the coming elections.

For his part, the President continues to play the class warfare card for all it’s worth, hoping to further divide the so-called “have-nots” from the “haves”, who are not paying their “fair share”. Governor Romney, on the other hand, continues to play the same card in reverse, blaming the “47%” of the electorate who don’t pay taxes, and who prefer to operate in a dependency mode on the government instead.

Both of these “perspectives” are false. They are blatant misrepresentations of our true fiscal situation to con the electorate from understanding the reality of the smoke and mirrors and Mickey Mouse accounting practices both use to cover up their mismanagement of those tax revenues they pick from our pockets

And one of the most blatant manifestations of that is the way they co-mingle the tax revenues from different sources, categorizing them all as –GENERAL REVENUES- when in fact they should be separate, being the fiscal equivalent of apples and oranges. Worse yet, they then continue that misrepresentation by lumping all their cost outlays together as well, to show how major “entitlements”, such as Social Security and Medicare, are overloading their budgets.

What they carefully fail to mention is that – GENERAL REVENUES – come from only four tax sources, and should be the sole source of funding to cover the government’s operating costs, plus whatever programs they believe they need.  The revenues for both Social Security and Medicare, derive from –SEPARATE- taxes, and are specifically earmarked to fund both those programs. Neither their revenues nor their outlays belong to, or should be included as part of, the General Revenues income and outlays accounting. By any accounting standards such co-mingling of funds and accounts is a gross no-no, and if any of us either as individuals or as business enterprises did so, we would all be enjoying long term residency in a Club Fed facility.

So how do both the Democrats and the Republicans get around the fact that both have been –MISAPPROPRIATING- those funds to cover their deficit spending habits from available –GENERAL REVENUES – ? The have simpley taken (misappropriated) from those two program funds, and replaced whatever surpluses they have had, with Treasury I.O.U.’s. And it is the –INTERESTS – on those IOU’s that is impacting on their budgets, not the programs themselves (although both could probably do with some serious “cleaning up” to eliminate waste and mismanagement within them). The attached graphic will show what I mean by all that.

So, what’s to be done? Frankly, at this late state of the election cycle, about the only thing we taxpaying voters can do is to pledge to ourselves not to vote for either of these candidates. Vote for anyone else instead. They might not do better by us, but could they do any worse? Our other option, and the one that might have the best impact for changing the situation, is to vote for more truly non-party “Independents” for Congress, especially for the House of Representatives. With more – independents – there we might have a better chance to force a change from such smoke and mirrors fiscal and budgetary practices.

If we don’t, and continue to vote only along party lines and affiliations, we’ll deserve everything we won’t get.

CENTURION

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