“I will break the pride of your power” (Leviticus 26:19)
US hits credit limit, setting up 11-week fight
(AP) – 16 May 2011, pm
WASHINGTON (AP) — The government has maxed out its credit card.
The United States reached its $14.3 trillion limit on federal borrowing Monday, leaving Congress 11 weeks to raise the threshold or risk a financial panic or another recession.
Treasury Secretary Timothy Geithner formally notified Congress that the government would halt its investments in two federal pension plans so it won’t exceed the borrowing limit.
Geithner said the government could get by with bookkeeping maneuvers like that through Aug. 2. After that, the government could default on its debt for the first time, threatening the national credit rating and the dollar. http://www.google.com/hostednews/ap/article/ALeqM5gCUKXWzemfXrBBcp4t6RHMH1rknA?docId=8592bda2aa1247c29c6adf3c8f9b72fe
Debt has risen, inflation is rising, in not too many years more painful Bible prophecies will be fulfilled. I saw people on the Sunday talk shows who do not really understand economics put forth “solutions” that simply will not work in the long run.
Although national repentance is the only real long-term hope (and it seems to be too late for that), even the carnal “solutions” offered will not get the USA back on track economically.
According to Bible prophecy, the end of the Anglo-dominance of the world is coming, and the final age of the Gentiles will be here in a relatively few years. The debt of the USA is a strong indicator that not too many more years are left.
To learn more, please check out the following articles:
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? 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?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
End of Mayan Calendar 2012–Might 2012 Mean Something? Are there Mayan calendar predictions for change in 2012? Changes were centuries ago predicted by the Hopi Native Americans. Do Mayan/Hindu/Hopi/Buddhist/New Age/Nostradamus prophecies have any value here? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012? How might Barack Obama be involved in 2012?