Can you believe it? Recently, I read in the USA Today an article by a national “expert” economist that said she felt the American national debt was not a problem.
Not a problem? If you or I lived way far in-the-stratosphere beyond our means for 40 years, what happens? What if we kept two sets of books and told the IRS in an audit that we used the set of books that underestimated our income by 600%?
And very recently, the real national debt of $60,000,000,000,000 (trillion) made the front page of the news for the very first time: so we guess the government has planned something significant for its populace since it no longer fears any retribution from the citizens that allowed it to bankrupt them!
Not a pretty scene. So, the invincible US government in their infinite wisdom has been a liar to the people who it swears to represent.
I’ve known a bit about the chicanery of the government financial system for some time. And also about the two sets of books they keep to grossly underestimate the enormity of the national debt. It’s a house of cards.
And it’s intentional…since the one-world globalists have an agenda that controls the global populace through financial and military terror. So, ultimately, who’s the terrorist here?
When I saw this article by long time columnist George Will as he openly exposed the chicanery, the Spirit spoke and said that we’re to take notice.
Total economic collapse, He said. The domination of a fearful, controlled people – even worldwide.
The mark of the beast to buy and sell. Rejoice, for our redemption is drawing near! For those insistent on the American Way (which is where Amway got its name), this does not bode well. You’ve been forewarned.
We here at Walk Worthy applaud Mr. Will for his insight…and courage. Remember this was written at the beginning of ’09, and things are measurably worse.
I’m going on record as saying that there’s no way out. Absolutely no way. George uses the word “implosion.” Sounds much too weak to me! God has to judge this wicked nation, both its leaders and citizens, for the irresponsibility is every area of it’s existence: financial, physical, relational, and spiritual.
How much is a trillion? Well, say you and I began a business the day Christ was born, and it did not go well. Matter of fact, we lost $1,000,000 (million) a day, every day, right up until today. That’s right. $1,000,000 (million) a day.
You know how long it would take us to lose a trillion dollars? Another 700+ years. That’s right. Almost 3,000 years of losing $1,000,000 a day.
Wow. No way out folks. And that’s exactly what the New World Order globalists desire! This is a well orchestrated enslavement of the entire worldwide financial system.
Congress Will Have the Buffet
By George F. Will – Sunday, February 1, 2009
“Recidivism” is Rep. Jim Cooper’s laconic explanation of why he, although only 54, has spent portions of five decades on Congress’s payroll. Responding with aphorisms (e.g., “Bad government starts at the grass roots”) to the tedium of Congress’s culture of avoidance, he grows more laconic as the welfare state’s implosion approaches.
The son of a Tennessee governor, Cooper, a Democrat who represents Nashville, was a congressional page starting in 1969 and then a Rhodes scholar before being elected to Congress in 1982. Having run unsuccessfully for the Senate in 1994, he returned to the House in 2002. A mordant Cassandra (“If members of Congress were paid on commission to cut spending, we’d see fabulous results”), he is no longer astonished by Congress’s bipartisan avoidance of the predictable crisis coming to the big three entitlement programs — Social Security, Medicare and Medicaid.
“Astonishing,” says Cooper of the new president’s avowed determination to confront the crisis. Leadership, says Cooper, who has seen precious little of it concerning entitlements, enlarges the number of “things that can be talked about.” Such as the Social Security payroll tax, which Cooper would cut for several stimulative years from 12.4 percent to 8 percent. It suppresses job creation, is raising more revenue than Social Security is dispensing and will continue to do so until 2017. The surplus is invested in Treasury bonds. That amounts to lending it to the government, “which in turn,” Cooper says, “spends it on everything except Social Security.”
President Lyndon Johnson, to make the deficit numbers during the Vietnam War less scary, adopted the “unified budget,” under which Social Security’s surplus was mingled with general revenue, thereby reducing — disguising, really — the deficit’s size. That, Cooper says, was the “original sin” in the budgeting sleight of hand that prevents the public from knowing, and Congress from being compelled to act on, facts about the entitlement programs’ unfunded liabilities — promises to future beneficiaries that future taxpayers may not be willing to keep.
Cooper, who has an unshakable appetite for unappetizing numbers, wishes that more Americans were similarly eccentric and would read the 188-page 2008 Financial Report of the United States Government — the only government document that calculates what deficit and debt numbers would be if the government practiced, as businesses must, accrual accounting.
Under such accounting, future outlays to which beneficiaries are entitled by existing law are acknowledged as expenditures before they are paid. Were the Social Security surplus sequestered for accounting purposes, reflecting the truth that it is already obligated, and were there similar treatment of the other entitlement programs’ liabilities, the deficit for the fiscal year that ended Sept. 30 would have been $3 trillion rather than $454.8 billion. The report’s numbers show that the true national debt is $56 trillion, not the widely reported $10 trillion.
The report says that in 25 years the portion of the population 65 and older will increase from 12 percent to 20 percent, while the share of the population that is working and paying taxes will decrease from 60 percent to 55 percent. If Medicare spending continues to grow, as it has for four decades, more than 1 1/2 times as fast as the economy, the big three entitlements, which currently are 44 percent of all federal expenditures (excluding interest costs of the national debt), will be 65 percent by 2030. Under current law, 30 years from now government revenue will cover only half of anticipated expenditures.
For years, many conservatives advocated a “starve the beast” approach to limiting government. They supported any tax cut, of any size, at any time, for any purpose, assuming that, deprived of revenue, government spending would stop growing. But spending continued, and government borrowing encouraged government’s growth by making big government cheap: People were given $1 worth of government but were charged less than that, the balance being shifted, through debt, to future generations. In 2003, Republicans fattened the beast with the Medicare prescription drug benefit (Cooper opposed it), which added almost $8 trillion in the present value of benefits scheduled, but unfunded, over the next 75 years.
Liberalism’s signature achievement — the welfare state’s entitlement buffet — will, unless radically reduced, starve government of resources needed for everything on liberalism’s agenda for people not elderly. Conservatives want government limited, but not this way.
Although President Obama promises entitlement reforms, what can be expected from a Congress with a long bipartisan record of reckless enrichments of the entitlement buffet?
Saints, we’re one day closer to Home, and Him! Love Him wholeheartedly!
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PREPARING FOR GREAT TRIBULATION: Being On The Alert and Prepared For The Great Tribulation; Moderated by Marc White, Director, Walk Worthy, Central Florida, USA
Jesus prophesied “For then there will be a great tribulation, such as has not occurred since the beginning of the world until now, nor ever will.” Matthew 24:21; Preparing For Great Tribulation, Copyright, a Walk Worthy ministry; permission granted to repost in full.
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The writers and speakers we quote may preach certain doctrines in their ministries and/or live lifestyles that we disagree with mildly or wholeheartedly. However, something of eternal value from them has been delivered to us by the Holy Spirit. And in that leading, we pass it on to you for your edification!