Debt limit fights and economic disaster

Official USA debt continues to rise.

The latest published figure from the US Treasury (which was as of Monday) which I accessed today was $31,456,445,296,319.41 https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny

The USA officially hit its debt ceiling in January (see CNN: US hits debt ceiling, prompting Treasury to take extraordinary measures. FT: The Fed will have to accept the $1tn platinum coin), but has been taking “extraordinary measures” to get around it that are expected to run out by Summer.

Here is some information on the political fight around it:

April 19, 2023

Earlier this year, House Speaker Kevin McCarthy and President Joe Biden seemed to agree they wouldn’t negotiate the debt ceiling and federal spending fight in the press.

This week has undoubtedly shown a shift in strategy.

McCarthy spoke to reporters and Wall Street CEOs Monday at the New York Stock Exchange, where he said House Republicans will lift the debt limit if Biden agrees to spending cuts. He vowed he would not let the U.S. default on its obligations, such as Social Security payments and military paychecks, and blamed the president for the ongoing showdown.

Biden, striking back …, accused McCarthy … Biden said. “Instead, he proposed huge cuts to important programs that millions of Americans count on.” …

Biden and McCarthy are miles apart on a deal. https://www.usatoday.com/story/news/politics/2023/04/19/debt-limit-crisis-biden-mccarthy-maga-republicans/11693948002/

While multiple millions do depend on a lot of government programs, they also are subject to real problems with the debt being raised.

Irrespective of the political arguments, the plan looks to be to keep increasing the debt. The national leadership of the USA has repeatedly kicked the problem of debt down the road as opposed to truly dealing with it.

That said, Michael Snyder wrote the following:

Our leaders were able to successfully kick the can down the road for a long time, but now many of our long-term problems are becoming short-term problems, and the economic outlook for the remainder of 2023 is extremely bleak. But none of the economic hardships that we are experiencing at this moment should shock any of us. The truth is that we were warned about all of these things well ahead of time. Many independent voices have been warning us that there would be severe consequences for the exceedingly foolish economic decisions that our leaders were making, and now those severe consequences are starting to play out right in front of our eyes. …

We were warned that the rest of the world would eventually start rejecting the U.S. dollar, and now “de-dollarization” is happening at a “stunning” pace…

The dollar is losing its reserve status at a faster pace than generally accepted as many analysts have failed to account for last year’s wild exchange rate moves, according to Stephen Jen.

The greenback’s share in global reserves slid last year at 10 times the average speed of the past two decades as a number of countries looked for alternatives after Russia’s invasion of Ukraine triggered sanctions, Jen and his Eurizon SLJ Capital Ltd. colleague Joana Freire wrote in a note. Adjusting for exchange rate movements, the dollar has lost about 11% of its market share since 2016 and double that amount since 2008, they said.

“The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions,” Jen and Freire wrote. “Exceptional actions taken by the US and its allies against Russia have startled large reserve-holding countries,” most of which are emerging economies from the so-called Global South, they said.

Unfortunately, we are still only in the very early stages of this economic meltdown.

The general population is starting to understand that things have gone horribly wrong, and a CNBC survey that was just released discovered that Americans “have never been more negative about the economy” than they are at this moment…

Amid persistent inflation, higher interest rates and recession worries, Americans have never been more negative about the economy, according to the latest CNBC All-America Economic Survey.

A record 69% of the public holds negative views about the economy both now and in the future, the highest percentage in the survey’s 17-year history.

Even during the darkest days of 2008 and 2009 Americans were more optimistic about the future of the economy than they are right now.

Just think about that.

We are in really deep trouble. 04/18/23 http://theeconomiccollapseblog.com/5-economic-disasters-we-were-warned-about-in-advance-that-are-happening-right-now/

There will be serious economic consequences to USA debt and many of its other immoral policies.

No serious plan to actually reduce the debt is in the works, that currently stands a chance to be implemented. The USA never intends to actually pay back all its debt in any fair way.

The massive amount of USA debt is “a giant red flag for all of us about America’s future economic health.” Nations around the world see this and many have taken steps to prepare to topple the USA’s economic leadership of the world.

The rate of increase of the official federal debt has been staggering.

Consider the following:

On Jan. 20, 2009, when Obama was inaugurated, the total debt of the federal government was $10,626,877,048,913.08, according to data published by the U.S. Treasury. 10/07/16 http://www.cnsnews.com/news/article/terence-p-jeffrey/debt-under-obama-9000000000000

So, in a little over 14 years after the Obama-Biden Administration first took office, official USA debt has almost tripled!

On January. 20, 2021, when Joe Biden was inaugurated, the total debt of the federal government was $27,751,896,236,414.77, according to data published by the U.S. Treasury.

Debt has increased at a rate of about US$2 trillion per year under the Biden-Harris Administration–and yes, debt also increased a lot under the Trump-Pence Administration.

Let me also add that in 2013, something called sequestration was supposed to stop the debt limit from being raised. The purpose of sequestration was to reduce the increase of the projected spending deficits for the US government. The cuts were supposed to be so painful that both Republicans and Democrats would simply have to come up with a better debt reduction plan–but as history shows, sequestration ended up not working politically and was abandoned.

Do not think that having Republicans control the US House of Representatives means that the USA plans to greatly pay down its ever increasing debt.

Increasing debt in the Biden-Harris Administration was discussed in my book Biden-Harris: Prophecies and Destruction as follows:

Debt is a prophesied problem (cf. Habakkuk 2:6-8). But many in the media as well as politically-inclined economists do not see it that way—but that is too short sighted (cf. Ecclesiastes 8:11).

The time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue.

Make no mistake about it — massive inflation is coming.

The U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19).

A Biden-Harris Administration has asserted it will take debt raising steps. …

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. Joe Biden and many other American politicians have not run away from increasing U.S.A. debt—that will be to the nation’s peril.

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’? ⁷Will 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 2:2-3,6–8). …

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 ever been in as much total debt as the U.S.A. …

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 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). Yet policies enacted under the Obama and Trump Administrations, following certain other administrations, have ignored these warnings.

No nation in the history of humankind has ever accumulated as much debt as the United States of America (because the U.K. may have close to the highest amount of per capita debt {Conway E. Britain showing signs of heading towards 1930s-style depression, says Bank. Telegraph, March 16, 2009 },its fate would be similar). 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, these increases of debt are utterly dangerous.

When the time comes that the Federal Reserve is no longer able to keep interest rates artificially low, 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. (Thiel B. Biden-Harris: Prophecies and Destruction. Nazarene Books, 2021)

We have already seen the Biden-Harris Administration increase official USA government debt. We have already seen the Fed begin to increase interest rates. Habakkuk 2:6-8 shows that this will be even worse than an economic-only disaster.

Raised interest rates and raised debt also increases the debt for the future. The USA is in a bad way because of its political moves which often increase debt.

Related to US debt, a few years back, Cal Thomas brought out the following from founders of the USA:

— Thomas Jefferson said: “We must not let our rulers load us with perpetual debt.”

— Alexander Hamilton warned: “Nothing can more affect national prosperity than a constant and systematic attention to extinguish the present debt and to avoid as much as possibl(e) the incurring of any new debt.”

— George Washington said: “Avoid occasions of expense … and avoid likewise the accumulation of debt not only by shunning occasions of expense but by vigorous exertions to discharge the debts, not throwing upon posterity the burden which we ourselves ought to bear.”

– Then there’s James Madison: “I go on the principle that a public debt is a public curse, and in a Republican Government a greater curse than any other.”

Can anyone credibly challenge these warnings? If not, why aren’t we obeying them? 09/10/2020 https://www.foxbusiness.com/money/national-debt-dangers-founders

Well, many in the USA despise the word of God and trust in perversion (Isaiah 30:12), suppress the truth in unrighteousness (Romans 1:18), and are too selfish to care (2 Timothy 3:1-4)–so they go the wrong way.

Now, consider that the USA is basically believed to be the richest nation of all time.

Yet, it is also the most indebted nation of all time.

The USA is addicted to debt.

Its lusts for debt brought the following scripture to mind:

15 The leech has two daughters —
Give and Give!

There are three things that are never satisfied,
Four never say, “Enough!”: (Proverbs 30:15)

The USA has acted like an international leech.

Its leaders never have enough, so they continually take advantage of the USA dollar’s position as the world primary reserve currency and feel that they can get away with increasing debt without consequence.

That is wrong.

The USA also has no intention in ever properly paying its debts back.

That is wicked:

²¹ The wicked borrows and does not repay, But the righteous shows mercy and gives. (Psalms 37:21)

Since the moral direction of the USA is going in the wrong direction, it is understandable that debt will increase. This is leading to a real disaster in the future. The USA also cannot expect to lead the world economically for that long if it is going to continue to increase its debt–that is not based on any conspiracy but economic fact as well as insight from biblical prophecy (cf. Habakkuk 2:6-8).

But no, the politicians of the USA have not listened to the Bible.

The USA still has a massive pride about its dollar. Yet, the Bible teaches:

18 Pride goes before destruction, And a haughty spirit before a fall. (Proverbs 16:18)

It is prideful arrogance that gets humans to think that they can essentially completely control the economy and just borrow and print up money. They cannot. Weather, political events, diseases, wars, morality, technology, international matters, and other factors play a role.

The Anglo-American world order will come to an end. Accumulation of debt will end up being a financial crisis beyond what most “experts” and politicians have imagined.

National repentance is needed, but is not expected. 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.
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.