Deficit Will Harm USA Economy to the Point of Destruction

More and more economists and economic writers are recognizing that the massive USA deficits will severely harm the economy of the USA:

Eventually, the huge federal deficit likely to hurt stocks

Dallas Morning News – Jan 18, 2010

…Interest rates will almost certainly rise as the government tries to float trillions of dollars in bonds in the coming years to service its debt.

http://www.dallasnews.com/sharedcontent/dws/bus/columnists/wdeener/stories/DN-deenercol_18bus.ART.State.Edition1.3cf1a10.html

Why the deficit will raise taxes

The nation’s debt must be brought to heel, and doing so will require tough choices beyond spending cuts, experts say.

CNN Money – Dec 10, 2009 by Jeanne Sahadi, senior writer

“Taxes would rise to levels that would make a Scandinavian revolt. And the government would not be able to provide anything but the most basic public services. We would no longer be a great power (or even a mediocre one), and the social safety net would evaporate,” tax policy expert and Syracuse University professor Len Burman wrote in a recent op-ed cheerfully titled “Catastrophic Budget Failure.”.http://money.cnn.com/2009/08/27/news/economy/deficit_taxes/index.htm

If interest rates rise to their 1982 levels in a few years, the interest on the USA debt will likely exceed the total of all income tax revenues. This will likely raise interest rates to even higher levels. Levels that creditors will finally realize cannot be paid back. Taxes simply cannot be raised enough without destroying economic growth to solve this. The USA will have to discover some great new technology to extend its dominance (remotely possible), nationally repent (highly unlikely), or come to an end (most likely).

What most pundits have not dared to say is that if the USA is not the leading economic power, it will also have to cease to be the leading military power. If this USA is not even to be a “mediocre” power (as the second article above suggests), it will be considered vulnerable and quite weak.

Here are two scriptures for readers to consider as they will come to pass:

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…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 2:3,6-8).

39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain (Daniel 11:39).

(The “he” in Daniel 11:39 is the European King of the North.) Since the USA has the most debt of any nation on the earth and it still has the “strongest fortresses” in the world, the prophecies cited above seem to be pointed towards it. And these prophecies in the Bible will come to pass.

As more and more economic pundits start to figure out that the USA economy is doomed, what will you do about it?

Perhaps studying the scriptures related to all of this may be a good step.

Some articles of possibly related interest may include:

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?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?
Prophecies of Barack Obama? Eight reasons why Barack Obama is apocalyptic and eight reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? This is the longest and most complete article on this page on Barack Obama prophecies. Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?