Is there an issue with growing divergence between GAAP and pro-forma?

One of my more favored SA authors published a piece this week that had a very interesting graphic on the growing delta between aggregate GAAP and pro-forma corporate earnings.  This analysis aligns with my thesis that economic growth is not accelerating as people want to believe and the recent FED moves are more about putting bullets back into their weapon, than really slowing down inflation.  The negative element to this article and many of the comments is the political overtones that sound more like opinions and beliefs.   Just the facts and an analysis of the facts, please?

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