$2.2 trillion for COVID-19 not enough–Nancy Pelosi wants another trillion dollars of debt

(Pixabay picture)

The damage that the US federal, state, and local governments have caused the economy is greater than many realize.

In addition to a 2.2 trillion dollar plan to ‘rescue’ the economy from the effects of government lockdown and closure policies, politicians are looking for more spending, which means more debt:

April 7, 2020

President Trump nominated a White House lawyer to serve as the special inspector to oversee how the $2 trillion approved by Congress to fight the coronavirus pandemic will be spent, according to a report.

Brian Miller, who serves as special assistant to the president and a senior associate counsel in the White House counsel’s office, will become the special inspector general for Pandemic Recovery, the Daily Caller reported on Monday. …

“We face a deadly virus and a battered economy with millions of Americans suddenly out of work. Congress has taken an important step in leading this crisis by passing three bills with over $2 trillion in emergency relief,” the House Speaker said. “We need to ensure those dollars are spent carefully and effectively.”

Miller would oversee the $500 billion in the stimulus bill designated to help large businesses facing financial difficulty because of the lockdowns and stay-at-home orders. https://nypost.com/2020/04/07/trump-nominates-wh-lawyer-to-oversee-coronavirus-stimulus-plan/

April 7, 2020

House Speaker Nancy Pelosi told Democrats on a private conference call on Monday that the next round of stimulus from Congress aimed at the coronavirus pandemic will be at least another $1 trillion. https://www.youtube.com/watch?v=309p_j2pFC0

Forbes reported the following a week and a half ago:

Donald Trump And The Fed Are Destroying The U.S. Dollar

It’s been an historic week for the U.S. with president Donald Trump signing a record $2.2 trillion coronavirus-induced emergency stimulus package.

The massive cross-party rescue deal is designed to help Americans and businesses cope with the economic shutdown caused by the coronavirus COVID-19 pandemic.

The U.S. dollar has taken a beating, however, dropping almost 4% against a basket of currencies this week—its biggest weekly loss since the height of the global financial crisis over 10 years ago. …

Caitlin Long, said via Twitter, adding she expects the U.S. Federal Reserve’s balance sheet to top $10 trillion before the coronavirus crisis is over and predicting the dollar’s eventual crash.

On top the of the massive economic aid package, the Fed has been working hard to prop up plunging markets—with mixed results despite its shock-and-awe firepower.

Potential risks of the combined cross-party rescue bill and Fed’s biggest-ever bazooka include out-of-control inflation, the dollar’s displacement as the world’s funding currency, and the complete destabilization of the U.S. financial system. …

“The beautiful thing about our country is $6.2 trillion—because it is 2.2 plus four [combining the Fed’s action and the cross-party rescue bill]—it’s $6.2 trillion, and we can handle that easily because of who we are, what we are,” Trump said, speaking after the bill’s historic White House signing ceremony, and boasting the package was “twice as large” as any prior relief bill. https://www.forbes.com/sites/billybambrough/2020/03/28/donald-trump-and-the-fed-are-destroying-the-us-dollar/#668c9f996ebc

Of course, it is not just Donald Trump and the US Federal Reserve involved. The Democrats have pushed for much of this and more.

UPDATE 04/08/20:

According to the US Treasury, the debt of the USA as of 01/19/2017 was 19,944,429,217,106.77 (https://treasurydirect.gov/NP/debt/current).

According to the US Treasury, the debt of the USA as of 04/07/2020 was 24,011,523,316,653.36 (https://treasurydirect.gov/NP/debt/current).

Increasing debt and decreasing production is not good for the US dollar. And one day it will crash, much more than almost any seem to believe. One day it will be worth only the scrap and souvenir value of the cotton-paper it is printed on.

Let me mention here that the most indebted nation in the world, even before COVID-19, is the USA. Number 2 is the United Kingdom, Canada is number 11, Australia is number 12, and New Zealand is number 35 (List of countries by external debt. Wikipedia, accessed 03/29/20).

Any additional spending increases debt. COVID-19 is a factor that is increasing their debt more.

Notice a prophecy God inspired the prophet Habakkuk to write:

2 Then the Lord answered me and said:

“Write the vision
And make it plain on tablets,
That he may run who reads it.
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. (Habakkuk 2:2-3)

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,
Because of men’s blood
And the violence of the land and the city,
And of all who dwell in it. (Habakkuk 2:6-8).

The above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. Notice that the prophecy says it is so bad, that people should run who read it. That is, they should seriously consider what this means and take the appropriate steps.

The Bible shows that foreign creditors will rise up.

Because US and British-descended leaders ignore, and even despise, instructions and warnings from the word of God, destruction will come to them. Notice something God inspired the prophet Isaiah to record:

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.
14 And He shall break it like the breaking of the potter’s vessel,
Which is broken in pieces;
He shall not spare.
So there shall not be found among its fragments
A shard to take fire from the hearth,
Or to take water from the cistern.” (Isaiah 30:12-14)

Most of the leaders in the USA, UK, Canada, Australia, and New Zealand despise the word of God, trust in perversion, and think nothing of oppressive debt levels.

Increasing debt for the USA was number 11 from my list of 20 items to prophetically watch in 2020:

11. Debt

The Bible teaches that the result of debt accumulation will be far worse than even many pessimists believe. …

(Habakkuk 2:2-8; English Standard Version)

The USA is the most indebted nation in the history of humanity and those in it should try to understand this prophecy.

God told Habakkuk that this should be a very serious matter.

US debt will increase in 2020.

Have you been paying attention to this?

Currently it looks like the USA will increase the absolute dollar amount of its debt higher than any year since its founding!

Increasing debt will not end up well for the USA and its British-descended allies.

Some items of possibly related interest may include:

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