DW: ‘S&P sounds alarm over US debt ceiling.’ AW: Hurricane Harvey may cost $160 billion.


The German publication Deutsche Welle (DW) reported the following: from Standard & Poors (called S&P below):

S&P sounds alarm over US debt ceiling

The US ratings agency has warned that failure to raise the country’s debt limit by the end of September could have worse consequences than the collapse of Lehman Brothers during the financial crisis.

31 August 2017

US President Donald Trump has warned recently that he is prepared to shut down the government if he didn’t get funding for his controversial wall to be built along the Mexican-US border.

The threat comes during fraught bi-partisan debates in Congress about Trump’s budget and the need for raising the US debt ceiling by the end of the month. Currently, the government is funded through the end of the fiscal year ending September 30 under a temporary measure passed in May. …

US debt default in the cards

The debt ceiling is a legal cap on how much money the government can borrow to fund its budget deficits and meet debt obligations. The United States actually surpassed its official debt limit at the end of 2012, but it has been suspended and reset multiple times over the years, most recently on March 15. The national debt currently is $19.84 trillion, compared to the $19.81 trillion limit.

Failure to raise it from the current level could lead to default, sending shockwaves across global markets.

“With markets somewhat jittery about a possible selective default of the US sovereign, worries of a shutdown threat only adds to their concerns,” the Bovino report said. http://www.dw.com/en/sp-sounds-alarm-over-us-debt-ceiling/a-40309037

Many have expressed concerns about the impact of the USA not increasing its so-called debt ceiling (see WP: 5 reasons why hitting the debt ceiling would be disastrous. COGwriter: Bible teaches something worse about debt.).

It is ‘so-called’ because unlike real ceilings, this one has been raised repeatedly.

The USA continues to spend money that it does not have.

Hurricane Harvey looks to add to the debt according to Accuweather (AW):

Hurricane Harvey will be most expensive U.S. natural disaster at up to $160 billion: AccuWeather

Hurricane Harvey will be the most expensive natural disaster in U.S. history, AccuWeather said Wednesday, estimating the full cost at close to $160 billion. That would be similar to the combined cost of Hurricanes Katrina and Sandy, the weather service said in a report. The cost will shave 8/10 of 1% off GDP, said the report. “Business leaders and the Federal Reserve, major banks, insurance companies, etc. should begin to factor in the negative impact this catastrophe will have on business, corporate earnings and employment,” said Dr. Joel Myers, founder and chairman of AccuWeather. “The disaster is just beginning in certain areas.” http://www.marketwatch.com/story/hurricane-harvey-will-be-most-expensive-us-natural-disaster-at-up-to-160-billion-accuweather-2017-08-30

While I will refrain from commenting on the accuracy of forecasts from Accuweather, the reality is that disasters like Hurricane Harvey do cost money.

And any money from the US Federal Government will be money that is borrowed.

The moral direction and political acrimony in Washington, D.C. will prevent real solutions to the debt.

Oh yes, the debt ceiling will be raised (‘legally’ or otherwise), but that will not reduce the debt of the USA.

The USA is going in the wrong direction and needs to repent.

The prophesied consequences of its debt are worse than the politicians seem to be able to realize. Notice the following prophecy:

2 And the Lord answered me:

“Write the vision;
make it plain on tablets,
so he may run who reads it.
3 For still the vision awaits its appointed time;
it hastens to the end—it will not lie.
If it seems slow, wait for it;
it will surely come; it will not delay. …

6 Shall not all these take up their taunt against him, with scoffing and riddles for him, and say,

“Woe to him who heaps up what is not his own—
for how long?—
and loads himself with pledges!”
7 Will not your debtors suddenly arise,
and those awake who will make you tremble?
Then you will be spoil for them.
8 Because you have plundered many nations,
all the remnant of the peoples shall plunder you,
for the blood of man and violence to the earth,
to cities and all who dwell in them.  (Habakkuk 2:6-8, ESV).

The increasing USA debt is so serious that people need to take action–which is why God said people should run once they understand it.

While Standard & Poors is correct that the debt-ceiling should set off alarms, the alarms it should set off is that the USA needs to change and quickly work to reduce its debts.

Several items of possibly related interest may include:

The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. A video of possible interest may be Will Will USA Spying Help the Beast Power?
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? 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? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch 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? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
When Will the Great Tribulation Begin? 2017, 2018, or 2019? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2016 o 2017? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Will the Great Tribulation Start in 2017?
Are You Being Called by God? Norman Shoaf wrote various points to consider.
Is God Calling You? Alfred E Carrozzo wrote this.
What Did Christ Mean – Many Are Called, But Few Are Chosen? This article was by Raymond McNair.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Could a Donald Trump presidency be apocalyptic? A related video is titled: Donald: ‘Trump of God’ or Apocalyptic?
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.

Get news like the above sent to you on a daily basis

Your email will not be shared. You may unsubscribe at anytime.