‘Underestimating Washington D.C.’s Debt Trap’
(Unsplash photo)
More secular sources are pointing out some risks associated with rising USA government debt:
Underestimating Washington D.C.’s Debt Trap
In May this year, the Congressional Budget Office estimated outstanding US government debt next October to be $27,388 billion. By the end of the first quarter of the fiscal year, it will exceed $34,000 billion. It is soaring out of control, and perhaps it is not surprising that the CBO has not updated its forecasts with this debt uncertainty. The CBO also assumed that debt interest costs last year would be $663 billion, when it ended up being $980 billion 48% higher than forecast. …
With GDP this year estimated by the CBO to be $27,266 billion, it gives a budget deficit to GDP ratio of 11%. That is without factoring in an economic downturn. …
Debt funding costs will depend on the marginal collective view of foreigners. Other than offshore funds, such as the Cayman Islands, Ireland, Luxembourg and Switzerland, major holders of the coincidental $7.6 trillion in US government debt such as Japan and China have been net sellers. And of the top twenty holders, seven are arguably categorised as either leaning towards China or threatening to reduce their exposure to US dollar hegemony. On these grounds alone, future foreign participation in US government funding cannot be guaranteed.
In large measure created by debt funding problems, rising interest rates will make this situation even more difficult. …
In the process of relying increasingly on short-term funding, the debt maturity profile shortens, so that the costs of rolling over maturing debt rapidly rises. It’s a situation made worse by growing foreign apathy towards investing in dollars, of which they already own too many. …
Foreign holders of dollars, some $33 trillion onshore, a further $85 trillion in foreign exchange derivatives, plus a further $10 trillion in eurobonds cannot be expected to stand idly by and just watch their dollars lose value. …
It was economist Robert Triffin who pointed out that you cannot fool markets all the time. Back in the early 1960s, he pointed out that for the dollar to act as a reserve currency trade policy must ensure that there is an adequate international supply. …
The Triffin crisis is set to become a self-fulfilling prophecy again, potentially on a far greater scale than the failure over fifty years ago. All it needs is a loss of faith by foreign holders of dollars in the US government’s finances and its self-serving statistical manipulation. 12/18/23 https://quoththeraven.substack.com/p/underestimating-washington-dcs-debt
The USA is the most indebted nation in the history of humanity. Rising interest rates increase the debt and look to one day result in a debt spiral that will be a factor in the elimination of the USA!
This increasing of debt cannot go on forever.
Even when he was President of the United States, Barack Obama said the levels of debt his Administration oversaw was “unsustainable,” yet the debt keeps going up.
Notice the following levels of official US debt:
- January 20, 2009, $10,626,877,048,913.08, date Obama-Biden Administration inaugurated.
- January 19, 2017, $19,944,429,217,106.77, date Obama-Biden leave office, replaced the next day by Trump-Pence.
- January 19, 2021, $27,752,835,868,445.35, the date Trump-Pence leave office, replaced the next day by Biden-Harris.
- December 18, 2023, $33,891,285,134,712.08: https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny
Official US debt nearly doubled under the Obama-Biden Administration. It also greatly increased by about the same amount in only four years under the Trump-Pence Administration. Debt is already up over $6 trillion in less than three years of the Biden-Harris Administration and is still expected to increase greatly.
The Bible warns about debt, disobedience, and foreigner involvement:
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 28:43-45,47-52).
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)
Now, you may wish to read and re-read something that the prophet Habakkuk was inspired to write over 2600 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’? 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 2:3,5,6-8).
9 “Woe to him who covets evil gain for his house, That he may set his nest on high, That he may be delivered from the power of disaster! 10 You give shameful counsel to your house, Cutting off many peoples, And sin against your soul. 11 For the stone will cry out from the wall, And the beam from the timbers will answer it. (Habakkuk 2:9-11)
The above prophecy 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 use 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.
And that is not a new idea. The Dead Sea Scrolls discovered last century were helpful in various ways, and included something related to Habakkuk.
Dead Sea Scrolls’ Commentary on Habakkuk
The Dead Sea scrolls have the following in a Commentary on Habakkuk from roughly 2000 years ago. The following was 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 been fulfilled then and were for the time of the end.
As far as to who these passages in Habakkuk are directed to in the end, it makes little sense that these verses in Habakkuk 2 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?
Since the USA is the most indebted nation of all time, and since the tiny nation of Israel does not have enemy creditors, it is logical that the prophecy in Habakkuk is directed towards the USA.
And the timing?
Well, over a decade before I saw the Dead Sea document, I concluded that because Habakkuk 2 states it is for the appointed time of the end, that it pertained to our current generation.
After Jesus warned about the beginning of sorrows (Matthew 24:4-8), other problems (Matthew 24:9-13), the great tribulation (Matthew 24:21-22), His return (Matthew 24:29-31), etc., He stated:
32 “Now learn this parable from the fig tree: When its branch has already become tender and puts forth leaves, you know that summer is near. 33 So you also, when you see all these things, know that it is near — at the doors! 34 Assuredly, I say to you, this generation will by no means pass away till all these things take place. (Matthew 24:32-34)
The sorrows have begun, we are in that GENERATION.
In light of that, consider that the Book of Proverbs teaches:
12 There is a generation that is pure in its own eyes,
Yet is not washed from its filthiness.
13 There is a generation — oh, how lofty are their eyes!
And their eyelids are lifted up.
14 There is a generation whose teeth are like swords,
And whose fangs are like knives,
To devour the poor from off the earth,
And the needy from among men.15 The leech has two daughters —
Give and Give!There are three things that are never satisfied,
Four never say, “Enough!”: (Proverbs 30:12-15)
It appears that for many USA politicians, the debt is never enough.
This will not end well for the USA.
Related to USA debt, we put together the following video:
And the Debt Goes On …
On June 3, 2023, US President Joe Biden signed a bill to increase the official debt-ceiling of the United States. According to the US Treasury the “ceiling” has been changed, increased, or delayed 78 other times. The official debt has nearly tripled since the Obama-Biden Administration. The official debt increased about $2 trillion per year under Donald Trump’s Administration and has done close to that in the Joe Biden Administration. While the USA has been able to increase debt with limited consequences (like inflation) so far, does the Bible show this can end in destruction? What did God warn about debt through the prophet Habakkuk? Is getting into high amounts of debt a blessing or curse according to the Bible? Do Democrats or Republicans currently have a plan that will now be implemented to pay off the debt? Has the USA been functioning as an international “leech” consistent with statements in the Book of Proverbs? Does the Bible say it is wicked to borrow money you do really intend to repay? Steve Dupuie and Dr. Thiel cover these matters.
Here is a link to our video: And the Debt Goes On …
Perhaps it should be pointed out that the old Radio Church of God did teach that Habakkuk 2 had future fulfillment and tied it in with Isaiah 10 (Hoeh H. The Race Question. Plain Truth, July 1957 p. 22).
Furthermore, the old Worldwide Church of God 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 understood that Habakkuk 2 was prophetic for the end time–not that it was fully fulfilled thousands of years ago (which many in certain COGs wrongly believe).
On the other hand, some will discount Habakkuk because it is prophetic.
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?
The rising USA debt cannot continue indefinitely–there is a major price to pay.
Some items of possibly 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? 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: 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.
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?
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.
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.
Herbert W. Armstrong, the Philadelphia Church, & the Mantle Herbert Armstrong claims God had him raise the Philadelphia up. Are there reasons to believe that the Philadelphia mantle in now within the CCOG? Here is a link to a related sermon: Herbert W. Armstrong and the Philadelphia Mantle.
There is a Place of Safety for the Philadelphians. Why it May Be Near Petra This article discusses a biblical ‘place of safety,’ Zephaniah 2 to ‘gather together,’ and includes quotes from the Bible and Herbert W. Armstrong on fleeing to a place–thus, there is a biblically supported alternative to the rapture theory. Two sermon-length videos of related interest are available Physical Protection During the Great Tribulation and Might Petra be the Place of Safety? Here are two related items in the Spanish language: Hay un lugar de seguridad para los Filadelfinos. ¿Puede ser Petra? and Existe un Lugar de Seguridad.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
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.
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. And here is a link to a related Spanish language sermon: La obra corta y el Hambre de la Palabra de Dios.
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.
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