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CBS reported the following:

White House unveils details of Democrats’ revamped $1.75 trillion social spending plan

October 28, 2021

President Biden is unveiling a revamped social policy and climate change plan Thursday that the White House expects will make sweeping changes to American society and hopes to pass with overwhelming Democratic Party support. …

A mix of new taxes and government fees would be used to pay for the sweeping plan, including a 15% minimum tax on the earnings of the nation’s largest corporations and a surtax on earnings of multimillionaires and billionaires. A proposed tax on the nation’s roughly 700 billionaires was rejected Wednesday by moderates concerned about its targeted approach and by some Democrats with tax-writing experience concerned it might not pass legal muster.

The $1.75 trillion framework unveiled by the White House is the culmination of months of negotiations between Democrats over the size and scope of Mr. Biden’s domestic policy package.

Because the party holds 50 seats in the Senate, passage of the plan hinges on support from all Democrats in the upper chamber and made Manchin and Sinema central figures in the talks. Democrats are using a legislative tool called reconciliation to fast-track the legislation through the Senate and allow it to pass without Republican support. https://www.cbsnews.com/news/biden-spending-bill-build-back-better-house-democrats-meeting/

IF a plan like the above is adopted, expect that this will mean that the USA will increase its debt.

PCG posted the following today related to USA debt and Europe:

When America Defaults, How Will Europe React?

A key prophecy reveals how Europe will get its strongman.

October 28, 2021

Europe’s leadership is facing a deadlock. …

Crises are causing European leaders to only see dead ends. But one crisis is coming that will force a strongman to break forth. …

“France wants ‘European strategic autonomy’ and ‘European sovereignty,’ pet phrases of [French President Emmanuel] Macron, to become a reality,” the New York Times commented. “The case for a united Europe to chart its own course—after the submarine fiasco, after the Afghan mayhem, after President Donald J. Trump’s dismissiveness of Europe, after Brexit and in light of clear trans-Atlantic differences on China—could scarcely be stronger. For Le Drian, echoing Mr. Macron, it’s the only way for Europe to ‘remain part of history.’”

The chaotic withdrawal of the U.S. from Afghanistan has turned Europe’s fears into reality. Bloomberg noted, “Certainly it will infuse energy into the idea of a more muscular and independent military capability.”

But how can Europe “chart its own course” without a captain? How can it lead an independent foreign policy and command an EU army without a commander in chief? …

On September 30, the Biden administration in the U.S. signed legislation to avert a partial federal shutdown and provide government funding through December 3. But the crisis has not been averted. America has muddled through several debt crises in recent years, but each time, the debt grows and makes the eventual reckoning even worse and even more unavoidable. The recent crises may cause it all to blow up.

U.S. citizens fear growing inflation, a stock market crash and the government stopping Social Security or Medicaid payments. But U.S. financial woes could have even bigger consequences for the rest of the world.

Whether the U.S. keeps raising its debt ceiling or defaults, America’s financial woes are causing the rest of the world to lose trust in the dollar. Nations have been using dollars in international transactions for decades, and Europe is directly tied to the U.S. financial system. America’s lack of financial stability is therefore shaking European leaders to their core.

Even as the U.S. retires as global leader, Europe is conspicuously lacking in leaders and governments capable of handling the looming crisis. This will ultimately lead to radical changes in Europe. Watch for stronger European governments to set up a more independent financial system that excludes or takes advantage of weaker EU nations. The late editor in chief of the Plain Truth (predecessor to the Trumpet), Herbert W. Armstrong, predicted such an outcome decades ago. He wrote in 1984 that a massive banking crisis in America “could suddenly result in triggering European nations to unite as a new world power, larger than either the Soviet Union or the U.S.” …

The Bible prophesies in Revelation 17 that 10 kings will rise to lead Europe and will unite under one overarching leader. This unified empire will conquer and terrorize much of the world in a conflict that far surpasses even the world wars. The Apostle John saw this empire in a vision symbolized by a beast, with 10 horns. “And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast. These have one mind, and shall give their power and strength unto the beast” (verses 12-13). https://www.thetrumpet.com/24758-when-america-defaults-how-will-europe-react

Yes, a “strongman” called the Beast will be granted dictatorial authority in Europe.

He will fully arise after the the four horseman of Revelation 6 have all begun their ride. Related to that, we put out the following sermon:

1:16:57

Fourth Horseman, COVID, and the Rise of the Beast of Revelation

The 6th chapter of the Book of Revelation tells of the ride of the Four Horsemen of the Apocalypse. What do each represent? Is the novel coronavirus, also known as COVID-19, part of the fourth horseman? Does the Bible point to around 2 billion people dying from hunger, war, and the beasts of the earth? Was the ancient Roman Empire impacted by pestilences? What about the black death, also known as the Bubonic plague? Are disease epidemics part of the beginning of sorrow and troubles that Jesus spoke about in Matthew 24 and Mark 13? Does the pale green horseman represent Islam? Could genetically modified organisms (GMOs) or synthetic biology cause or contribute to coming pandemics? Is chemical and biological warfare (CBW) a real threat to humanity? What about a doomsday bug or antibiotic resistant superbugs? Is fear a contagion that will help people move away from democracy? Will scientists be able to stop what is coming? Is the good news that the Kingdom of God will? Could COVID-19 be setting the stage for the rise of the ‘prince,’ who will become the totalitarian Beast of the Sea (also known as 666 and the King of the North)? Is this leader similar to the Great Monarch of Greco-Roman Catholic prophecies? When is the Great Monarch supposed to arise according to the Eastern Orthodox? Why might Europe be less affected by the ride of the third horseman that the US, Canada, and the UK? Are governments taking steps now, consistent with the words of Adolf Hitler? What seal represents the start of the Great Tribulation? Which Christians did Jesus promise to protect from the coming “hour of trial”?

The coming Beast will be granted power because of economic, political, social, and health crises in Europe, as well as European displeasure with the USA.

Now, one scripture that PCG has often overlooked is Habakkuk 2:6-8. It talks about what will happen when creditors feel that the USA has defaulted or otherwise will not pay back its debt.

It is discussed in my book Biden-Harris: Prophecies and Destruction as follows:

Debt is a prophesied problem (cf. Habakkuk 2:6-8). But many in the media as well as politically-inclined economists do not see it that way—but that is too short sighted (cf. Ecclesiastes 8:11).

The time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue.

Make no mistake about it — massive inflation is coming.

The U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19).

A Biden-Harris Administration has asserted it will take debt raising steps. …

Let us also consider that there is a prophecy in Habakkuk, written about 2600 years ago, about debt which is preceded by the following:

² Then the Lord answered me and said:

Write the vision And make it plain on tablets, That he may run who reads it. (Habakkuk 2:2)

The Bible says that the ‘debt prophecy’ to be revealed later in Habakkuk 2 is so significant that those who read it should run—essentially that they should take steps because the results will be horrific. Joe Biden and many other American politicians have not run away from increasing U.S.A. debt—that will be to the nation’s peril.

The Bible warns about something that will happen to a heavily indebted nation. Notice what the Hebrew seer Habakkuk wrote over 2,600 years ago:

³ For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry … ⁵ Indeed, because he transgresses by wine, He is a proud man … 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. ⁸ Because you have plundered many nations, All the remnant of the people shall plunder you… (Habakkuk 2:2-3,6–8). …

Notice that what is to happen is so bad, that people who read the prophecy should run, when it is time for it to be fulfilled. Since that prophecy is to be fulfilled at the appointed time of the end, it is still for the future, but perhaps not too far distant in the future. No nation has ever been in as much total debt as the U.S.A. …

European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the U.S. dollar from its position as the world’s primary reserve currency. …

The Bible clearly warns against cheapening the money supply and encourages having money hold its value (Proverbs 25:4 Isaiah 1:25, Ezekiel 22:18-22). Yet policies enacted under the Obama and Trump Administrations, following certain other administrations, have ignored these warnings.

No nation in the history of humankind has ever accumulated as much debt as the United States of America (because the U.K. may have close to the highest amount of per capita debt {Conway E.  Britain showing signs of heading towards 1930s-style depression, says Bank.  Telegraph, March 16, 2009 },its fate would be similar). Destruction is coming.

However, the relationship between debt accumulation and prophesied destruction remains unapparent to many. Because there is a time lag, many ignore that there will be real consequences (cf. Ecclesiastes 8:11; Habakkuk 2:3,6-8). Yet, these increases of debt are utterly dangerous.

When the time comes that the Federal Reserve is no longer able to keep interest rates artificially low, the U.S.A. will continue past the point of no return. That will become one of the final factors that will cause creditors to rise up and destroy the U.S.A. (Thiel B. Biden-Harris: Prophecies and Destruction. Nazarene Books, 2021)

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This entry was posted on Thursday, October 28th, 2021 at 3:30 pm and is filed under COG News, Prophecy.

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