For the first time in history, the United States national debt has reached 14,025,215,218,708.52. That is 14 Trillion!
Just seven months ago the National debt was 13 Trillion dollars. Within days the statutory limit set by the Obama administration for the debt ceiling will be at 14.294 Trillion. At that point the Federal government cannot borrow any more money and could default on it’s former obligations.
If the Federal Government of the United States should default on any loan as a result of this, it would be the first time in history this has happened.
If you and I reach our limit on how much we can borrow, we have to stop borrowing. We then cannot spend more than we have earned. This is not true for our Federal Government. When they reach their limit they simply print more money and keep on spending. Over the past 50 years, the Federal government has gone past their budget limit 44 times.
The Federal Government sells U.S. Treasury bills which are really I.O.U’s that are used to pay off the money that it has borrowed. If the debt limit is enforced and we cannot issue any more Treasure bills/I.O.U.’s to ourself, then the government will cease to function.
That is how serious our situation is and how close we are to National bankruptcy.
Back in 1983 Ronald Reagan said that “The deficit problem is a clear and present danger to the basic health of our republic”. When he said that our national debt was 1.4 Trillion and the deficit was just 207 Billion.
During taxable year 2011 the federal government will collect 2.3 trillion in taxes from the American taxpayer. That sounds like allot of money and it should be more than enough to run the country right? Wrong. The Federal government will spend in 2011; 3.6 Trillion dollars. That is 1.3 Trillion more than they will take in. Over half of all the governments spending goes to mandatory expenses such as Medicare, Medicaid and Social security. Over 2 percent or 700 Billion of your dollars goes to fund congressional pet projects, otherwise called “earmarks”.
Many people have wondered why a nation as big and prosperous and the United States, does not appear to be mentioned in Bible Prophecy with the exception of a few indistinct verses. I believe that the reason that we are not mentioned is that by the time that Jesus removes all of those who love Him at the Rapture, that the United States may well have become a former great power and will be insignificant on the world scene.
The whispers of this possibility are quickly changing to a shout as we hear of the unbelievable and unsustainable financial crisis that is already upon us. For all practical purposes the United States is already bankrupt. When your debts out pace your income and you cannot borrow any more to pay your debts and no one will lend you any more money, then you are bankrupt. We have only a very short time before this becomes such a reality it will be openly declared by the Federal Government.
When this happens, our country will take the same course that others have in history. The American dollar will become almost worthless. In Certain countries around the world that have fallen into this same peril, it takes a million their dollars now to buy a loaf of bread. If you are a million aire, congratulations, when the United States becomes bankrupt you will have enough to buy your family a loaf of bread.
The return of the Lord is so very near. As we hear of these very frightening reports it should cause us to fall on our knees in prayer and intercession for our nation and it’s leaders. Much as Daniel realized the grave errors that Israel had made that led to their demise, we should be praying and repenting for our national sins of turning away from the Lord. That national backsliding of our nation who formerly followed the Lord and His Word, is why we are in this financial mess in the first place.
Make no mistake, these financial woes that all of us are experiencing are only the symptoms of the greater problem. We have forgotten the Lord who made us a great nation. We have allowed a minority of Atheists and Agnostics to dictate to the rest of the population that God has no place in our government, schools and homes.
Unless the entire nation turns back to God in repentance and changes the way that individuals live their lives everyday, we are going to fail as a great nation. That fall will be great and it will be heard and felt around the world. Unfortunately, the effects of America’s sin will cause many other nations to also fail. We owe such great debt to so many that we will never be able to repay it. When the United States defaults on it’s loans to China, then it will cause the failure of China’s economy. This will have a domino effect around the world as global markets will collapse.
All of this will set the stage perfectly for one man to come on the scene that the Bible calls “The Beast”. He will heal the financial catastrophe that the United States has created by it’s greed and unite the world under one monetary system.
From the appearance of the U.S economy, his coming cannot be that far off. Before he does arrive on the scene, Jesus will come and remove all those who love Him at the Rapture The departure of Jesus church as the present restraining force used by the Holy Spirit, described in 2 Thessalonians as holding back the beast from coming to the forefront.
For those who know Jesus and are trusting in His Word, there is no cause now for alarm or fear. We understand that Jesus said all of these things would happen before He came for us and that when we see them happening to Look up for His appearing is near.
Rob Robinson
