USA has now decided against an official debt limit

Official Photograph

US President Barack Obama signed a bill that allows the federal government to borrow without a debt limit:

(Reuters) – President Barack Obama signed legislation on Saturday that raises the U.S. debt limit through March 2015, taking the politically volatile issue off the table with congressional elections coming up this November.

Without an increase in the statutory debt limit, the U.S. government would have soon defaulted on some of its obligations and would have had to shut down some programs, an historic event that would have caused severe market turmoil.

On a long holiday weekend in a desert resort area in southern California, Obama put his signature on the legislation without fanfare, while behind closed doors at the Sunnylands retreat. http://www.reuters.com/article/2014/02/16/us-usa-debt-obama-idUSBREA1E11D20140216

Congress rendered the debt limit statute inoperative, thereby waiving the debt limit, through March 15, 2015. This means that there is no debt limit in place to control borrowing for more than an entire year…

The debt limit last bound the Treasury on February 8, when the agency reported the new limit at more than $17.2 trillion. The Bipartisan Policy Center estimates that, absent major changes in spending policy, the debt limit suspension will result in a $1 trillion increase in the debt limit on March 15, 2015…

When Congress suspended the debt limit through March 15, 2015, it did not limit the Treasury’s borrowing at all. The debt limit will not bind the Treasury until midnight on the day the suspension expires. This is like Congress handing the executive a blank check with an expiration date. The blank check authorizes the Treasury to borrow as much as needed to finance all government spending authorized by law to occur during the period of the suspension. With a debt limit suspension, Congress effectively abdicates its constitutional power to control the borrowing of the federal government. http://www.heritage.org/research/reports/2014/02/blank-check-what-it-means-to-suspend-the-debt-limit

The majority in the US Congress, as well as Barack Obama, do not seem to have the concerns about increasing to acquire debt that they should.

Notice some passages from the Bible:

7…And the borrower is servant to the lender.

8 He who sows iniquity will reap sorrow,
And the rod of his anger will fail. (Proverbs 22:7-8)

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. (Habakkuk 2:6-7)

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). Can those in the USA see the Handwriting on the Wall?

Some items of possibly related interest may include:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Two videos of possible interest may be Will Will USA Spying Help the Beast Power? aand Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? 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? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
When Will the Great Tribulation Begin? 2014, 2015, or 2016? 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 comenzar la Gran Tribulación en 2013 o 2014? ¿Es el Tiempo de los Gentiles? You can also see the English language video The Great Tribulation Will Not Begin Before 2017.
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? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
WTO/TTIP and the Babylonian Beast Will international trade agreements like WTO/TTIP/CETA lead to the fulfillment of end time prophecies concerning the Babylonian Beast power that the Book of Revelation warns against? What does the Bible teach? A related video would be WTO Trade Deal and the Rise of the European Beast Power.
Can those in the USA/UK see the Handwriting on the Wall? Is everything fine in the USA/UK or is it like the days of Noah? Can we learn from the handwriting that appeared on a wall thousands of years ago? Here is a link to a related YouTube video Can you see the ‘Handwriting on the Wall’?
The Snowden Leaks are Leading to the Destruction of the USA Can what happened with the leaks of what the NSA has done help the USA to be taken over? What does the Bible teach that seems to be related to this? Here is a related YouTube video titled Are the Snowden NSA leaks leading to the destruction of the USA?
Pornography: A scourge on society Is pornography harmless fun? Does the Bible teach anything about it? What are the views of some involved with it? Here is a link to a YouTube video Pornography: Harmless Fun or a Scourge on Society?
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?
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.
Cross-dressing and other assaults against your children. What should you do? Is there an agenda to turn your children and/or grandchildren away from biblical morality and towards practices promoted by homosexuals? What does the Bible teach about cross-dressing? What should parents do? If there is an agenda, what has been going on? There is also a YouTube video on this, titled Cross dressing and Other Assaults Against Your Children.
The Bible Condemns Homosexuality “Same-sex marriage” for “gays” and lesbians is becoming more acceptable to many. What does the Bible teach about homosexuality? Can homosexuals change?
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 real Church of God? Some may also, or instead, wish to view the YouTube video Abortion, the Bible, and US Debt.
Weather Blessings and Sorrows Are weather problems a warning? What should be done? What does the Bible teach about weather? What about floods, droughts, heat, earthquakes, tornadoes, and solar storms? Here is a related YouTube video Does God Use Weather? A related item in the Spanish language would be Bendiciones y maldiciones del clima.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
When Will the Great Tribulation Begin? 2014, 2015, or 2016? 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 comenzar la Gran Tribulación en 2013 o 2014? ¿Es el Tiempo de los Gentiles? You can also see the English language video The Great Tribulation Will Not Begin Before 2017.
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?
Hillary Clinton in Prophecy Prophecy, Hillary Clinton? Are there prophecies that Hillary Clinton may fulfill? Are there any prophecies that she has already helped fulfill? Could Hillary Clinton be apocalyptic? Could Hillary Clinton be the final Antichrist?
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? Here is a link to a video titled: The Future King of the North.
Prophecies of Barack Obama? Reasons why Barack Obama is apocalyptic and reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? Read it and decide for yourself if President Obama seems to be fulfilling various prophecies. Watch also the YouTube Barack Obama and the State of the Apocalypse.