ABC: UK is ‘broke and broken,’ new government says amid shortfall in public finances

Original 1611 KJV leaf of parts of Habakkuk chapters 2 & 3
(It was a gift to me from a reader)

ABC reported the following:

UK is ‘broke and broken,’ new government says amid shortfall in public finances

July 28, 2024

LONDON — Britain’s new left-leaning government said Sunday that the nation is “broke and broken,” blaming the situation on its predecessors ahead of a major speech on the state of the public finances that is widely expected to lay the groundwork for higher taxes.

In a sweeping assessment three weeks after taking power, Prime Minister Keir Starmer’s office professed shock at the situation they inherited after 14 years of Conservative Party rule, while releasing a department-by-department analysis of the perceived failures of the previous government.

The critique comes a day before Treasury chief Rachel Reeves is expected to outline a 20-billion-pound ($26 billion) shortfall in public finances during a speech to the House of Commons. …

“The assessment will show that Britain is broke and broken — revealing the mess that populist politics has made of the economy and public services,” Downing Street said in a statement. https://abcnews.go.com/International/wireStory/uk-broke-broken-new-government-prepares-tackle-shortfall-112344544

Yes, the UK is in debt and in various ways it is broke.

Yet, in certain ways, it is in better shape than the US is in.

The Bible shows national debt is a curse and it also clearly warns that an indebted people will be destroyed by people whose language that they do not understand, and that the destruction will be fairly total:

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:42-45,47-52).

7 The rich rules over the poor, And the borrower is servant to the lender. (Proverbs 22:7)

13 And the Lord said, “Because they have forsaken My law which I set before them, and have not obeyed My voice, nor walked according to it, 14 but they have walked according to the dictates of their own hearts…16 I will scatter them also among the Gentiles, whom neither they nor their fathers have known. And I will send a sword after them until I have consumed them.” (Jeremiah 9:13,14a,16)

12 One-third of you shall die of the pestilence, and be consumed with famine in your midst; and one-third shall fall by the sword all around you; and I will scatter another third to all the winds, and I will draw out a sword after them. (Ezekiel 5:12)

Most will not believe, but that was expected:

6 “Don’t say such things,” the people respond. “Don’t prophesy like that. Such disasters will never come our way!” (Micah 2:6, New Living Translation)

16 … You say, ‘Do not prophesy against Israel, And do not spout against the house of Isaac.’ (Amos 7:16)

People will not want to hear! See also Preparing for the ‘Short Work’ and The Famine of the Word.

Habakkuk was a Hebrew prophet.

Around 605-625 B.C. Habakkuk wrote a short book of the Bible that has a lot of implications for the time that we are now in.

Here are some passages from it (italics are not inspired but were headings in the translation):

1 The burden which the prophet Habakkuk saw.

The Prophet’s Question

2 O Lord, how long shall I cry, And You will not hear? Even cry out to You, “Violence!” And You will not save. 3 Why do You show me iniquity, And cause me to see trouble? For plundering and violence are before me; There is strife, and contention arises. 4 Therefore the law is powerless, And justice never goes forth. For the wicked surround the righteous; Therefore perverse judgment proceeds.

The Lord’s Reply

5 “Look among the nations and watch — Be utterly astounded! For I will work a work in your days Which you would not believe, though it were told you. 6 For indeed I am raising up the Chaldeans, A bitter and hasty nation Which marches through the breadth of the earth, To possess dwelling places that are not theirs. 7 They are terrible and dreadful; Their judgment and their dignity proceed from themselves. 8 Their horses also are swifter than leopards, And more fierce than evening wolves. Their chargers charge ahead; Their cavalry comes from afar; They fly as the eagle that hastens to eat. 9 They all come for violence; Their faces are set like the east wind. They gather captives like sand. 10 They scoff at kings, And princes are scorned by them. They deride every stronghold, For they heap up earthen mounds and seize it. 11 Then his mind changes, and he transgresses; He commits offense, Ascribing this power to his god.” (Habakkuk 1:1-11)

Notice that the above states that the end time work will not be believed by many even though God will reveal it–which He does through His prophets, like Habakkuk. While some claim that this was only for the past (like many in LCG) or that the entire book is really related to the Chaldeans and Chaldean debt (like HOI) and have despised my quoting of this, they seemingly forget that this is in the New Testament:

41 ‘Behold, you despisers,
Marvel and perish!
For I work a work in your days,
A work which you will by no means believe,
Though one were to declare it to you.‘” (Acts 13:41)

I believe that the Continuing Church of God is helping fulfill that. No xWCG group has had the type of growth in the 21st century that the CCOG has had–and this happened despite not having the large amounts of money like many groups have had available. Nor have any had the amount of signs that God promised (for details, check out the article: Does the CCOG have the confirmed signs of Acts 2:17-18?).

Now, getting back to Habakkuk:

The Prophet’s Second Question

12 Are You not from everlasting, O Lord my God, my Holy One? We shall not die. O Lord, You have appointed them for judgment; O Rock, You have marked them for correction. 13 You are of purer eyes than to behold evil, And cannot look on wickedness. Why do You look on those who deal treacherously, And hold Your tongue when the wicked devours A person more righteous than he? 14 Why do You make men like fish of the sea, Like creeping things that have no ruler over them? 15 They take up all of them with a hook, They catch them in their net, And gather them in their dragnet. Therefore they rejoice and are glad. 16 Therefore they sacrifice to their net, And burn incense to their dragnet; Because by them their share is sumptuous And their food plentiful. 17 Shall they therefore empty their net, And continue to slay nations without pity? (Habakkuk 1:12-17)

Notice that in the above the one getting punished will be punished by someone who, in certain ways, is worse than the one who will be punished. So while some believe that in certain ways the USA and its Anglo-allies are more “righteous” than the Beast power that will destroy it, the reality is that this is part of God’s plan.

2:1 I will stand my watch And set myself on the rampart, And watch to see what He will say to me, And what I will answer when I am corrected.

The Just Live by Faith

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. 4 “Behold the proud, His soul is not upright in him; But the just shall live by his faith. (Habakkuk 2:1-4)

Notice that the prophecy that is being discussed is for the appointed time of the end. It is a prophecy for our time–and will affect the proud. What will happen is so bad “That he may run who reads it.”

Yet, most do not take it seriously enough, and that includes most Christians:

Woe to the Wicked

5 “Indeed, because he transgresses by wine, He is a proud man, And he does not stay at home. Because he enlarges his desire as hell, And he is like death, and cannot be satisfied, He gathers to himself all nations And heaps up for himself all peoples. 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 2:5-8)

Actually, with an admitted debt of $35 trillion dollars and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet–it is plundering nations by issuing debt it will not repay. And on a per capita basis, the United Kingdom is one of the most indebted nations on the earth itself. The above is NOT a prophecy of Chaldean debt, nor was it fulfilled in its entirety thousands of years ago.

Please pay attention to the fact that that above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21; watch also Great Tribulation: 2026 or 2027?). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. It is descendants of Israel, like the USA, that are prophesied to have debt issues with foreigners if they turn from God’s laws (cf. Deuteronomy 28:43-44)–that is consistent with Habakkuk 2:6-8. The above prophecy is NOT a reference to the nation calling itself Israel as it has nothing compared to USA debt. Nor is it a prophecy for the European Beast power (which will include Chaldeans) as it will not be destroyed because of debt.

That debt prophecy in Habakkuk will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come”, Daniel 10:1,14). Daniel 8:19, 11:27, 29,35 uses the same Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. Also, it makes little sense that Habakkuk would be directed towards the modern nation of Israel as it does not have enemy creditors. It must be a nation or group of nations with some prominence at the appointed time of the end. As far as “violence of the land” as a contributing factor, this would seem to include crime, military missions, and perhaps riots/civil unrest, but might it also include promotion of violent sports? Is the USA government not giving shameful counsel regarding matters such as homosexuality and abortion?

Notice also the following from the Commentary on Habakkuk from the ancient Dead Sea Scrolls (roughly 2000 years old; translated in the 1950s by F.F. Bruce):

God commanded Habakkuk to write the things that were coming upon the last generation, but the fulfilment of the epoch he did not make known to him. (1Q p Hab. vii 1-5)

While ancient commentaries like this are NOT scripture, this particular one shows that those who understood the Hebrew language around 2000 years ago believed that Habakkuk’s words had NOT then been fulfilled and were for the time of the end.

The official US government debt nearly doubled under the Obama Administration:

According to the US Treasury, the debt of the USA as of 01/19/2009 (the day before Barack Obama took office) was 10,628,881,485,510.23 (https://treasurydirect.gov/NP/debt/current).

According to the US Treasury, the debt of the USA as of 01/19/2017 (the day Barack Obama left office and the day before Donald Trump took office) was 19,944,429,217,106.77 (https://treasurydirect.gov/NP/debt/current).

Those who thought that the Trump Administration would fix that are in error as the following shows:

According to the US Treasury, the debt of the USA as of 01/19/2021 was $27,752,835,868,445.35 (https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny)

And these debt figures do not include state and local government debt, nor consumer or corporate debt.

Furthermore, the debt has risen by over 7 trillion dollars in less than four years under the Biden-Harris Administration:

According to the US Treasury, the debt of the USA as of 07/25/2024 was $34,997,540,505,103.33 (https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny)

The USA has been setting itself up for the penalties prophesied by Habakkuk.

Raising debt, not cutting spending, remains the US government’s plan.

How bad is the current situation?

Notice something from last week:

‘America is going bankrupt’: Elon Musk issues dire warning as interest on US debt was equal to 76% of income tax collected in June — and is expected to exceed $1.14 trillion this year

July 23, 2024

Rising national debt has long been a pressing issue in America, and it has caught the attention of Tesla CEO Elon Musk.

“America is going bankrupt btw,” Musk wrote in a recent post on the social media platform X. He was responding to a post by Billy Markus, the creator of Dogecoin.

Markus’ post included a screenshot of a headline reading, “Interest Payments on US National Debt Will Shatter $1,140,000,000,000 This Year – Eating 76% of All Income Taxes Collected: Report.”

Musk added a comment expressing his dismay: “I am glad 76% of the income tax I pay goes directly to important things like interest on past government incompetence.” …

The headline originated from an article on The Daily Hodl, which featured an analysis by economist E.J. Antoni.

Antoni, a research fellow in the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, delved into the latest Monthly Treasury Statement from the Bureau of the Fiscal Service.

He pointed out a striking detail: in June 2024, the U.S. government spent $140.238 billion on interest for Treasury debt securities. For context, the government collected $184.910 billion in individual income taxes that same month.

This means that an amount equivalent to 76% of June’s individual income tax revenue was used solely for interest payments on the national debt, not including principal repayment.

Antoni expressed his concern about America’s fiscal challenge in a post on X, writing, “Interest on the federal debt was equal to 76% of all personal income taxes collected in June – that’s the Treasury’s largest source of revenue and three-quarters of it gets consumed just by interest; does Congress know? Do they even care?” https://moneywise.com/news/economy/elon-musk-issues-dire-warning-as-interest-on-us-debt-was-equal-to-76-of-income-tax-collected-in-june

If interest rates ever rise to the level that they were in the US in the early 1980s, that will trigger a spiral that the US possibly could not recover from.

Perhaps it should be pointed out that the old Radio Church of God did teach that Chaldeans were essentially Europeans who would punish the US and its English-speaking allies, that Habakkuk 1 had future fulfillment, and also tied it in with Isaiah 10:

One whole book of the Bible — Habakkuk — is entirely devoted to a prophecy concerning the Chaldeans in these latter days! …

The reason that some Chaldeans were later associated with Babylon in Daniel’s time is that a small part of them was later settled by the Assyrians near Babylon. The original inspired Hebrew of Isaiah 23:13 explains this: “Behold, the land of the Chaldeans — this is the people that was not, when Asshur founded it for shipmen”. How clear. The Chaldeans were divided, not an organized nation. A part of them was transplanted to Babylon. … Where are they today?

When we next find them, they dwell on the shores of the Baltic Sea in Northern Europe! … Some of the sons of Asshur are these: Kharmen, or Germanni — meaning men of war; Khatti; Akkadians; Almani, or Halmani; and Kassites, or Cossaei. (For these names see any article on “Assyria”, or these separate names, in Biblical encyclopaedias).

Where are these tribes today? They are no longer in ancient Assyria! Where did they go? The entire tenth chapter of Isaiah pictures the power that Asshur — the Assyrians — shall wield in these latter days. …

Read Isaiah 10 and Habakkuk 1, together with Isaiah 48. Notice that the children of Israel are delivered into the hands of the Whites of Europe! … Christ Himself will have to put a stop to that attempt of Satan to crush Israel. Then the White, English-speaking world, with the other tribes of Israel will really begin to shoulder the “White Man’s Burden” and bless the world with peace instead of cursing it. (Hoeh H. The Race Question. Plain Truth, July 1957 p. 22).

And, “the White, English-speaking world,” obviously includes the USA and UK.

That said, the ‘Chaldeans’ will be punished per Isaiah 10:12 and verses such as Habakkuk 2:9-19 also look to apply.

Furthermore, the old WCG did clearly teach that Habakkuk 2 had future application:

Habakkuk … God also said that this vision was to be written for our benefit today. … (Habakkuk 2:3). God showed Habakkuk that He will punish all the unrighteous at the end-time. … (Habukkuk 2:8, 10, 16-17) (Armstrong HW, editor in chief. THE MINOR PROPHETS SPEAK TO US! Youth Bible Lessons, Level 7, Lesson 9, 1986, p. 4)

So, yes, the old WCG understand that Habakkuk 2 was prophetic for the end time–not that it was full fulfilled thousands of years ago (which many in certain COGs wrongly believe). And since it is for the end time, the woes associated with debt/pledges must apply to some nation or group of nations now. And, the most indebted nation now is the USA.

Do you believe the words that God inspired Habakkuk to write? If so, do you really understand what is going to happen to the USA, UK, and their Anglo-descended allies relatively soon?

There is also a YouTube video related to this: Was USA debt and destruction predicted 2,600 years ago?

Here is something that was written in 1973 for the old Ambassador College by Dean Blackwell:

Why do you think in Habakkuk, God said that He’d “revive His work in the midst of the years”? Would this be said if they were doing the work in all the time of the New Testament Church?

You might note that in Habakkuk 3:2, he says: O Eternal, I have heard thy speech and was afraid: O Eternal, revive thy work in the midst of the years, in the midst of the years make known; in wrath remember mercy.

He is referring to God reviving His work in the midst of man’s last century. He said that God would make known what is happening and what’s going to happen in man’s last years, in the day of His wrath. He requested that God remember mercy and hide His people in a place of safety.

The work needs to be done in the 21st century. Will you truly support it?

Much of Habakkuk’s message is for the appointed time of the end, hence is applicable today.

The rising US and UK debts cannot continue indefinitely–there is a major price to pay.

While those nations do not show any interest in repenting, you personally can.

To learn even more, please, with your Bible, check out the following:

When Will the Great Tribulation Begin? 2024, 2025, or 2026? 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: Tribulation in 2024?
Watch also: Great Tribulation Protection.
Does the CCOG have the confirmed signs of Acts 2:17-18? Does any church have the confirmed dream and prophetic signs of Acts 2:17-18? Should one? Here is a link in the Spanish language: ¿Tiene la CCOG confirmadas las señales de Hechos 2: 17-18? Here is a link in the French language: Est-ce que l’Église Continue de Dieu confirme les signes d’Actes 2:17-18? A related sermon in the English language is also available: 17 Last Days’ Signs of the Holy Spirit.
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. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
CCOG.ORG Continuing Church of God The Philadelphian organization striving to be most faithful amongst all real Christian groups to the word of God. This page has links to materials in over 200 languages. To watch what has been happending in the CCOG so far, here are links to two sermons Continuing Church of God (CCOG) first year anniversary: What has been accomplished? and Continuing COG’s 10 Unique Years.
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.
Should the Church Still Try to Place its Top Priority on Proclaiming the Gospel or Did Herbert W. Armstrong Change that Priority for the Work? Some say the Church should mainly feed the flock now as that is what Herbert W. Armstrong reportedly said. Is that what he said? Is that what the Bible says? What did Paul and Herbert W. Armstrong expect from lower level leaders? A related sermon is available titled Priority of the Philadelphia Work.
Preparing for the ‘Short Work’ and The Famine of the Word What is the ‘short work’ of Romans 9:28? Who is preparing for it? Will Philadelphian Christians instruct many in the end times? Here is a link to a related video sermon titled: The Short Work. Here is a link to another: Preparing to Instruct Many.
The Final Phase of the Work What is the final phase of the work? Who will lead it? Do you have the courage to support it? Here are two related YouTube videos titled Final Phase of the Work: Need and Background and The Final Phase of the Work. The written article has been translated into Spanish La Fase Final de la Obra.
Leading the Final Phase of the Work Matthew 24:14 teaches “And this gospel of the kingdom will be preached in all the world as a witness to all the nations, and then the end will come ” will be fulfilled and RCG is not the group doing this. Who is leading the final phase of the work? What did Herbert Armstrong and the old WCG teach about that and about prophets? Does Bob Thiel meet the criteria that the Bible and the old WCG set? What is the proof? What has the Continuing Church of God been doing? This is a sermonette length video.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
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; here is a message in Spanish: Me Está Llamando Dios Hoy? 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.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.