CBO Warns of ‘Sudden’ Debt Crisis

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

The US Congressional Budget Office is warning a sudden credit crisis:

Congress should act now to avoid ‘sudden crisis’

Wisconsin State Journal, 24 June 2011…

“The sharp rise in debt stems partly from lower tax revenues and higher federal spending related to the recent severe recession,” according to the CBO report. “However, the growing debt also reflects an imbalance between spending and revenue that predated the recession.”…

“But the budget outlook, for both the coming decade and beyond, is daunting,” according to the report.

And in the short term, the United States risks “sudden fiscal crisis” if investors — including China and other foreign countries — lose faith in America’s ability to manage its budget. http://host.madison.com/wsj/news/opinion/editorial/article_4b61ee12-9df5-11e0-9d79-001cc4c03286.html

The US Congressional Budget Office seems to have come to a similar conclusion to the Bible. Notice:

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 2:3,5,6-8).

Of course, the CBO, while indicating that verse 7 may be fulfilled, did not say (or hint) anything related to verse 8. Yet, both will come to pass.

Let’s look at another warning in Isaiah 30:12-13:

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.

Of course, more and more, the Anglo-American nations are trusting in policies that encourage and trust perversity–the move to accept “homosexual marriage” in the USA is one more step that way. Some homosexual groups have been praising US President Obama this week for his “evolving” view towards the acceptance of homosexual marriage or some other forms of recognized homosexual unions (Huntsman isn’t ‘evolving’ on gay marriage like Obama). The CBO recognizes that the USA is at risk of a major and sudden fiscal crisis, but while it mainly is looking at debt, it has failed to understand why such debt has occurred.

The Bible clearly warns that an indebted people (and the UK has possibly the highest per capita debt in the world, with the USA the highest total debt) 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).

Abortion is another way that the USA has trusted in the oppression of the unborn and the perversity of many of its citizens as it does not serve God in that way.

Since the Roe vs. Wade pro-abortion decision in 1973, the USA has became the greatest debtor nation in the history of humankind. Since the USA owes alien nations trillions of dollars, it appears that the curse in Deuteronomy 28:44 of having to borrow from aliens is happening to it now. Of course, abortion is something that the current USA President is a strong supporter of.

Notice also the following about the USA:

In real terms, as mentioned above, US growth in the 21st century seems to have fallen back to medieval levels. Why?…Because the economy failed to produce real growth. After 1973, wages, for example, adjusted for inflation, went nowhere. (Bonner B. Economic Growth in the Internet Age. Daily Reckoning, June 23, 2011)

Coincidence or curse?

The USA is starting to reap what it has been sowing, and yes, there will be a time when its “creditors rise up suddenly” and “All the remnant of the people shall plunder” it. The CBO is hoping that political decisions will stop creditors from rising up suddenly. But that would take national repentance, which does not seem likely at this time. Though personal repentance is still an option. The USA will collapse and more and more signs of its eminent collapse are at least partially being seen by some of its secular leaders.

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?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the Living Church of God?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?