Chapter-5.5   Nine Signs We Are Under Judgment

5.5  Our Growing National Debt
 

On the same day I discovered the key verse for the last chapter (regarding the outsourcing of our jobs), I discovered the following two verses regarding our increasing National Debt:

ON THE BLESSINGS SIDE:

Deuteronomy 28:12 The LORD will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none. *1*

ON THE CURSES SIDE

Deuteronomy 28:44: They will lend to you, but you will not lend to them. They will be the head, but you will be the tail. *2*

THEY WILL LEND TO YOU BUT YOU WILL NOT LEND TO THEM.

While in the balance of finance, there are nations we loan money to, in the final analysis, we are so in debt to the ones we borrow money from that the proportionally smaller loans, we have made to other nations, recede by comparison.

Again this verse was (and is being) fulfilled before my very eyes.

Watch dogs have been sounding the alarm on this for years. Larry Burkett, a financial planner turned radio broadcaster from the 1980s and 1990s sounded the alarm on his radio show. I remember distinctly the warning, but I cannot find a specific quotation — so I will simply share what he said as accurately as I can recall. It wasn’t the kind of warning one easily forgets. He said, “The Federal deficit is so large, that it takes all of the income tax revenue collected east of the Mississippi River just to pay the interest on the loans.”. He went on to indicate that the line was moving west at an alarming rate. He forewarned that, “When the line has reached the West Coast (and all the income tax revenue can no longer cover the interest), we will experience a significant financial meltdown!” *3*. (I will estimate that I heard this warning in 1995 for the comparisons I make below).

According to the NY Times, (Nelson D. Schwartz), 9/25/2018, the Federal Government will soon be spending more money on interest for the Federal Deficit than for Defense. *4*. According to Kimberly Amado in an article cited below, military spending represents 1/4th of our annual expenses. *7*

Below I reference three articles on the national debt from a website called “thebalance”. These are all very well written by Kimberly Amado and simplified things greatly so even I could understand them.

The first “National Debt By Year Compared To GDP And Major Events”, points out when considering the national debt, other key factors need to be considered. You need to factor in the ‘Gross Domestic Product’ as well to get a ratio that (figuratively speaking) allows the comparison of apples to apples! But for the simplest of comparisons, I will ignore this important guideline and simply bring into focus the national debt (from the chart contained in this very article).

In 1995, the year I first heard Larry Burkett’s warning, the national debt was $5 Trillion (actual number from the chart $4.974 Trillion). Today that number has grown to $21 Trillion. *5*

In a second informative article on this topic: “Who Owns The US National Debt?” We learn that while ‘China’ is the foreign country that owns the largest portion of our ‘foreign’ debt, our ‘Social Security Trust Fund’ actually owns the greatest portion of America’s total debt. *6*

In her third article. “Will the US Debt Ever Be Paid Off?” Kimberly nets out the three ways that the deficit can be reduced:

(1) Cut Spending – which tends to slow economic growth. *7*

(2) Raise Taxes – which also tends to slow growth. *7*

(3) Drive Economic Growth at a Rate Faster Than The Debt. Most Democrats advocate INCREASED SPENDING. Most Republicans advocate LOWER TAXES to stimulate the economy the most. Tragically, both of these increase the debt at their inception. *7*

She then offers a fourth option, to spend beefing up our national infrastructure (road and bridge repair — desperate needs we have), as well as increases in education. *7*

If at the time of this writing the debt is $21 Trillion, and the population of the US is 327 million, that translates to a debt figure of $64,000 for each man woman and child in this country!

Needless to say, I would peg these articles as must reads! But just like the ‘Whirlwind Considerations’, if we leave God out of the equation, and fail to recognize that OUR DEBT falls into the realm of being a Divine Curse, are we really going to solve it without His help?

Since these Bible verses (regarding how God’s blessing and cursing influence our DEBT STATUS) are being fulfilled before YOUR very eyes the question reamerges:

America, Where are you? And how did you get there?

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REFERENCES & NOTES:

*1*. Deuteronomy 28:12

https://www.bible.com/bible/111/deu.28.12.niv

The Holy Bible, New International Version®️ NIV®️ Copyright ©️ 1973, 1978, 1984, 2011 by Biblica, Inc.®️ Used by permission of Biblical, Inc.®️ All rights reserved worldwide

*2*. Deuteronomy 28:44 NIV

https://www.bible.com/bible/111/deu.28.44.niv

The Holy Bible, New International Version®️ NIV®️ Copyright ©️ 1973, 1978, 1984, 2011 by Biblica, Inc.®️ Used by permission of Biblical, Inc.®️ All rights reserved worldwide

*3*. I estimate that this warning was given around 1994 or 1995.

*4*. NY Times / Nelson D. Schwartz / Sept 28, 2018 / As Debt Rises, the Government Will Soon Spend More on Interest Than on the Military / https://www.nytimes.com/2018/09/25/business/economy/us-government-debt-interest.html

*5*. “National Debt By Year Compared To GDP And Major Events” / By Kimberly Amado / thebalance / Updated September 18, 2018 / https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

*6* “Who Owns The US National Debt?” By Kimberly Amado / thebalance / Updated October 03, 2018 / https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124

*7*. “Will the US Debt Ever Be Paid Off?” / By Kimberly Amado / thebalance / Updated September 10, 2018 / https://www.thebalance.com/will-the-u-s-debt-ever-be-paid-off-3970473

 
 

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–©️2018, Dale Petersen, all rights reserved. Published for Non-profit by Pleasepraywithus.info