CBO: Debt to Increase, Risk of Sudden Collapse Increases

“I will break the pride of your power” (Leviticus 26:19)

The Congressional Budget Office confirmed that US debt is expected to increase and that this increases the risk of sudden economic collapse:

Federal Debt and the Risk of a Fiscal Crisis

Congressional Budget Office – July 27, 2010…

Over the past few years, U.S. government debt held by the public has grown rapidly…

Further increases in federal debt relative to the nation’s output (gross domestic product, or GDP) almost certainly lie ahead if current policies remain in place. The aging of the population and rising costs for health care will push federal spending, measured as a percentage of GDP, well above the levels experienced in recent decades. Unless policymakers restrain the growth of spending, increase revenues significantly as a share of GDP, or adopt some combination of those two approaches, growing budget deficits will cause debt to rise to unsupportable levels…

a growing level of federal debt would also increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government’s ability to manage its budget, and the government would thereby lose its ability to borrow at affordable rates.

It is possible that interest rates would rise gradually as investors’ confidence declined, giving legislators advance warning of the worsening situation and sufficient time to make policy choices that could avert a crisis. But as other countries’ experiences show, it is also possible that investors would lose confidence abruptly and interest rates on government debt would rise sharply. The exact point at which such a crisis might occur for the United States is unknown…

If the United States encountered a fiscal crisis, the abrupt rise in interest rates would reflect investors’ fears that the government would renege on the terms of its existing debt or that it would increase the supply of money to finance its activities or pay creditors and thereby boost inflation. Full report at: http://www.cbo.gov/doc.cfm?index=11659

Notice that the Congressional Budget Office says that current policies mean that the debt will “rise to unsupportable levels”. “Investors” are foreign creditors that would lose “confidence abruptly”. And they are being politely optimistic.

Yet, since the Congressional Budget Office is a “mainstream” organization, hopefully those who have doubted reports that have been here that the US economy faces sudden collapse will wake-up and realize that this will happen.

Now although various ones associated with the Churches of God realize that the US dollar can fall, there is a definite difference in how they view timing of this. The United Church of God, for example, believes that this will be a gradual process that can take decades (see UCG: Can the Dollar Fall?). The Living Church of God, for another example, believes that it will not take that long and that while the trend for the dollar will be down (with some ups and downs), that it will collapse suddenly (see LCG: USA Economy Faces Potential for Sudden Collapse). This is an area that the facts of economics and biblical prophecy supports the Living Church of God.

The US dollar has long been “the pride” of American power. According to Bible prophecy it will be broken. And there will be a sudden collapse.

Here are just a couple of scriptures about this risk:

26 O daughter of my people, Dress in sackcloth And roll about in ashes! Make mourning as for an only son, most bitter lamentation; For the plunderer will suddenly come upon us. (Jeremiah 6:26)

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)

The Bible is clear that disaster can come suddenly. And that it will. Does not the government of the USA trust in perversity?

But as the Apostle Paul wrote, Christians do not have to be unaware of this (1 Thessalonians 5:4). He also said (as did Jesus in Luke 21:36) to watch (1 Thessalonians 5:7).

Readers of my book, 2012 and the Rise of the Secret Sect, are aware that I believe that the Bible is clear that foreign creditors will rise up suddenly against the USA and it will be no more.

Do you really understand this and what to do about it?

To learn more, please check out the following articles:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
2012 and the Rise of the Secret Sect This is a link related to a book by Bob Thiel (COGwriter). This also has YouTube videos. This book documents and explains hundreds of prophecies. And since it was published, many have already started to come to pass. It is a spiritual and physical survival guide for what is coming to pass.
2012 y el surgimiento de la secta secreta Nuevo libro del Dr. Thiel en Español.
2012 und das Auftreten der geheimen Sekte (German Edition) 2012 Buch von Dr. Thiel in deutscher Sprache.
There are Many COGs: Why Support the Living Church of God? This is an article for those who wish to more easily sort out the different COGs. It really should be a MUST READ for current and former WCG/GCI members or any interested in supporting the faithful church. It also explains a lot of what the COGs are all about.