Spending cut for ants? US debt to increase–this will ultimately result in the end of the US
What’s in the debt ceiling deal – and what’s been left out? https://t.co/Qt7PV47vfr
— Insider Business (@BusinessInsider) May 28, 2023
The Joe Biden announced that he made a deal with Republican Kevin McCarthy to raise the debt ceiling. Which means, yes, official USA debt is to continue to rise.
Here are some reports:
May 28, 2023
President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle on legislation to increase the nation’s borrowing authority and avoid a federal default.
Negotiators are now racing to finalize the bill’s text. McCarthy, R-Calif., said the House will vote on the legislation on Wednesday, giving the Senate time to consider it before June 5, the date when Treasury Secretary Janet Yellen has said the United States could default on its debt obligations if lawmakers did not act in time.
While many details about the deal are unknown, both sides will be able to point to some victories. …
The agreement would keep nondefense spending roughly flat in the 2024 fiscal year and increase it by 1% the following year, as well as provide for a two-year debt-limit increase — past the next presidential election in 2024. https://apnews.com/article/debt-ceiling-deal-food-aid-student-loans-3c284b01d95f8e193bca8d873386400e
28 May 2023
President Joe Biden and his Republican opponents have announced they have agreed in principle to raise the US debt ceiling and avert a default.
President Joe Biden described the agreement as a “compromise”, while House Speaker Kevin McCarthy said it “was worthy of the American people”.
The deal, after weeks of bitter negotiations, still needs to be approved by a divided Congress.
The Treasury has warned the US will run out of money on 5 June without a deal. https://www.bbc.com/news/world-us-canada-65736734
The BBC, who was also quoted above, added the following:
A US default would upend the US economy and disrupt global markets.
In the US, the immediate effect would be that the government would quickly run out of funds to pay for welfare benefits and other support programmes, for instance.
Over a long period, the crisis would tip the US economy into recession – and this would result in unemployment rising.
A US recession would have big knock-on effects for many countries around the world, for which the US is a key trading partner – they would not be able to sell to an economy that does not buy as much.
And because the US dollar is the reserve currency of the world, a default would send panic across the world, eventually leading to prices of many commodities rising. https://www.bbc.com/news/world-us-canada-65736734
In general, the media is supportive of increasing the debt ceiling.
Yes, increasing it prevents many immediate problems.
Yet, debt will end in disaster.
Here are some comments related to debt in my free online book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:
Debt Disaster Coming
The U.S.A. and U.K. have greatly increased their debts this century.
The Bible warns that debt, and having to borrow from foreigners, is a curse that would hit those who received various biblical blessings as they became more disobedient (Deuteronomy 28:15,43-46).
Debt is dangerous.
Let us also consider that there is a prophecy in Habakkuk, written about 2600 years ago, about debt which is preceded by the following:
2 Then the Lord answered me and said:
Write the vision And make it plain on tablets, That he may run who reads it. (Habakkuk 2:2)
The Bible says that the ‘debt prophecy’ to be revealed later in Habakkuk 2 is so significant that those who read it should run—essentially that they should take steps because the results will be horrific.
The Bible warns about something that will happen to a heavily indebted nation. Notice what the Hebrew seer Habakkuk wrote over 2,600 years ago:
3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry … 5 Indeed, because he transgresses by wine, He is a proud man … 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his—how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you… (Habakkuk 2:2-3,5–8).
Notice that what is to happen is so bad, that people who read the prophecy should run, when it is time for it to be fulfilled. Since that prophecy is to be fulfilled at the appointed time of the end, it is still for the future, but perhaps not too far distant in the future. No nation has seemingly ever been in as much total debt as the U.S.A. (official federal debt over $31 trillion, plus unfunded liabilities, plus other government debt, plus corporate debt, and personal debt) and on a per capita basis Australia, Canada, and the U.K. are almost as bad. This is also consistent with the understanding that the U.S.A. and its British–descended allies will be hit during the time of Jacob’s trouble (Jeremiah 30:7). It should also be noted that creditors, plural, are mentioned. For this reason, we may see actions by the oil-rich Arab nations, China, and Japan, and not just Europe, in opposing the USA as they are all significant holders of USA debt.
The Bible warns about silver becoming “dross” (Isaiah 1:22; Ezekiel 22:18-22) and says to reverse it once it happens (Proverbs 25:4a; Isaiah 1:25). But the Anglo-American nations have not done that, their old silver coins are now dross (made/filled with cheaper materials) and their massive debts have made dross out of their fiat currencies (currencies that are not tied to gold or some other hard asset).
Furthermore, the “U.S. is highly vulnerable to loss of confidence by foreign creditors.”[i] U.S. government debt is “extremely vulnerable to foreign attack because of the high percentage of foreign ownership — almost 40% of the market.”[ii]
Interestingly, in the past, one foreign creditor, China, has raised concerns about the U.S. debt that are so serious, that its potential dumping of that debt has been called China’s “nuclear option”[iii] against the U.S.A.—an option that involves no military intervention, but that could greatly harm the U.S.A.
Many have complained about the U.S.A. “weaponizing” its dollar through sanctions, bank restrictions, and other means.[iv] By doing so, the U.S.A. has inadvertently been building up a coalition to push aside the dollar—and this will happen when the timing is considered to be better. European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the U.S. dollar from its position as the world’s primary reserve currency. The fact that Europe would develop its own currency, as well as for that purpose, was predicted by Church of God writers no later than 1971[v] –which is over two decades before the euro was officially agreed to.
Those in Iran and some of the Arab lands, along with nations such as Brazil, China, and India have discussed plans for the removal of the dominance of the U.S.A. in global trade as well. The former (again current) President of Brazil, Luiz Inácio Lula da Silva, even claimed that eliminating the U.S. dollar’s reserve currency status was one of the reasons that the BRICS alliance (Brazil, Russia, India, China, and South Africa) was formed in the first place. [vi] Others have noted that bypassing the USA dollar is still an object of BRICS—and officially BRICS nations “are currently working on setting up a new global reserve currency,”[vii] which may have gold-backing.[viii] The expansion of BRICS (which is in progress[ix]) may ultimately even hurt Australian trade as well as “severely weaken primacy of the US Dollar as an international currency.”[x]
The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Debt is also warned against (Habakkuk 2:6-8). Yet policies enacted under the Obama, Trump, and Biden Administrations, following certain other administrations, have ignored these warnings.
Destruction is coming.
However, the relationship between debt accumulation and prophesied destruction remains unapparent to many. Because there is a time lag, many ignore that there will be real consequences (cf. Ecclesiastes 8:11; Habakkuk 2:3,6-8). Yet, massive increases of debt are utterly dangerous.
When the time comes that the Federal Reserve is no longer able to keep interest rates low enough, the U.S.A. will continue past the point of no return. That will become one of the final factors that will cause creditors to rise up and destroy the U.S.A.
The Economy
While pushing biblically immoral ideas and massively accumulating debt are bad for the real economy, it should be noted that economies vary. A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will correctively punish the U.S.A. for (cf. Ezekiel 22:13-16).
Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless (worth no more than the scrap or sentimental value of the cotton-paper it is printed on). The same will basically happen to the British pound, as well as the Australian, Canadian, and New Zealand dollars.
Will it always be straight downhill for the economy of the U.S.A. or its British-descended allies?
No.
There are some reasons to have some temporary optimism. The U.S.A. has a wide diversity of agricultural, manufacturing, extraction (mining/pumping) and other industries as do its British-descended allies. In addition, technological and other developments may temporarily support the U.S. economy—as can reductions of regulatory burdens.
As far as delays to the end of the U.S.A. and its British-descended allies go, consider something that was told to a king who was prophesied to lose his kingdom:
27 Therefore, O king, let my advice be acceptable to you; break off your sins by being righteous, and your iniquities by showing mercy to the poor. Perhaps there may be a lengthening of your prosperity. (Daniel 4:27)
Repentance can prolong prosperity, but promotion of sin leads to destruction. However, it is not expected top U.S.A. leaders nor those of its British-descended allies will push for scriptural national repentance.
The Bottom Line
Like many politicians, many American and British-descended ones do not meet the following leadership criteria:
21 Moreover you shall select from all the people able men, such as fear God, men of truth, hating covetousness; (Exodus 18:21)
3 The God of Israel said, The Rock of Israel spoke to me: ‘He who rules over men must be just, Ruling in the fear of God. (2 Samuel 23:3)
This does not bode well for the U.S.A. nor its British-descended allies.
Furthermore, the Bible warns against the type of moral decline that is occurring in those nations:
12 Therefore thus says the Holy One of Israel: “Because you despise this word, And trust in oppression and perversity, And rely on them, 13 Therefore this iniquity shall be to you Like a breach ready to fall, A bulge in a high wall, Whose breaking comes suddenly, in an instant. (Isaiah 30:12-13)
But how can this happen to the U.S.A. and its British-descended allies? It will likely happen with a combination of events.
Notice:
5 “Moreover the multitude of your foes Shall be like fine dust, And the multitude of the terrible ones Like chaff that passes away; Yes, it shall be in an instant, suddenly. 6 You will be punished by the Lord of hosts with thunder and earthquake and great noise, With storm and tempest and the flame of devouring fire. (Isaiah 29:5-6)
Disaster will come suddenly, as in an instant.
The debt situation of the U.S.A. is putting it at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, “terror within” (Deuteronomy 32:25), devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Political issues, climate change, trade policies, communication’s deals, and other events are pushing the U.S.A. to a position that will encourage its takeover someday.
The Bible warns that God will “hurl disasters” against some descended from Israel (Deuteronomy 32:23, NJB) who “provoke” God (Deuteronomy 32:21-22, NKJV). Disasters, especially if there is an ElectroMagnetic Pulse (EMP) attack, a severe solar flare storm, devastating hurricane (s) something like a massive volcanic eruption and/or massive earthquake could be part of a so-called “perfect storm” of events that could set up the U.S.A. for destruction.
[i] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
[ii] Ibid
[iii] Gertz B, China Debt Threat. Washington Times, March 2, 2011
[iv] Jayakumar V. The weaponization of finance threatens the future of the dollar standard. The Hill, March 1, 2022
[v] Hogberg G. Rising World Colossus. Plain Truth magazine, May 1971
[vi] Escobar P. BRICS was created as a tool of attack: Lula. Asia Times, August 28, 2019
[vii] BRICS developing new global reserve currency – Putin. RT, June 22, 2022
[viii] Helms K. Economists Discuss Russia, China Potentially Developing Gold-Backed Currency. BRICS Information Portal, November 11, 2022
[ix] US Responds to Massive BRICS Expansion Effort As Nations Push to Launch Global Currency, Ditch Dollar. Daily Hodl, May 5, 2023
[x] Hunter M. BRICS Is Becoming The Big Kid On The Block: Implications For Australia – Analysis. Eurasia Review, November 1, 2022
As far as what debt reduction was supposedly accomplished by the deal between Joe Biden and Kevin McCarthy, notice the following that ZeroHedge posted:
May 27, 2023
Sources on Capitol Hill tell me the debt ceiling deal McCarthy negotiated with Biden includes no legitimate spending cuts or significant reforms in exchange for a $4 trillion debt ceiling increase. Just a freeze next year followed by 1% increase in ‘25 adjusted for inflation.…
— Greg Price (@greg_price11) May 28, 2023
…
Obligatory “What is this? A spending cut for ants!l” since nobody else did it …
That said, McCarthy can at least say he tried – inking in principle a compromise that would effectively freeze federal spending that had been slated to expand. https://www.zerohedge.com/political/debt-ceiling-deal-between-white-house-and-gop-reached-principle
The so-called “spending cuts” are a joke (cuts for ants?). Particularly in light in that the so-called “debt ceiling” has reportedly just been agreed to increase by US$4 trillion. Just the ANNUAL interest payment on the additional $4 trillion, assuming the current US Treasury 10-year interest rate of just 3.8%, this would be $152 billion. Hence, the so-called spending cuts” will be overshadowed by increased interest.
The USA is imploding. It will one day collapse quickly — and debt will be part of the reason according to Habakkuk 2:6-8.
The USA is addicted to debt.
As the debt rises, interest costs–and usually rates–also rise. The USA looks like it is past the point of no return. The deal between Joe Biden and Kevin McCarthy is pushing the USA faster towards, not away from, destruction.
National repentance is needed, but is not expected–nor has Joe Biden or Kevin McCarthy called for it. The USA and its Anglo-Saxon allies will not last to the end of this century (watch also Might the U.S.A. Be Gone by 2028?).
Some items of related interest may include:
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
When Will the Great Tribulation Begin? 2023, 2024, or 2025? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Notice also: Can Jesus return in 2023 or 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
Is a Great Reset Coming? Klaus Schwab of the World Economic Forum has proposed a societal change that has been basically endorsed by the Vatican and many world leaders. Does the Bible prophesy a major reset? Here is a link to a related video: Will there be a “Great Reset”?
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
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