Over $27 trillion in USA debt


(Pixabay picture)

COGwriter

The damage that the USA federal, state, and local governments have caused the economy with COVID policies is greater than many realize.

One of the longer term damage is the accumulation of debt.

Here is the latest total amount of debt according to the USA Treasury website:

01/04/2020 $27,051,135,958,210.00 https://www.treasurydirect.gov/govt/reports/pd/pd_debttothepenny.htm

Here is a report about this:

The national debt has pushed above $27 trillion.

The US government has added over $3 trillion to the national debt this year alone and there is no sign that the borrowing and spending will stop.

In fact, most people don’t even seem to care. …

Most people blame the coronavirus pandemic for the surging debt. But the Trump administration was running up massive deficits before COVID-19 reared its ugly head. It simply continued and accelerated the spending problem inherited from the Obama administration. …

Even as the fiscal 2020 budget deficit surged past $3 trillion, more than double the previous record deficit, US Treasury Secretary Steve Mnuchin called for more federal spending, saying  “now is not the time to worry about shrinking the deficit.”

That raises the question: when exactly is the time? Because the Trump administration wasn’t worried about the debt when the economy was supposedly good.

As Peter Schiff put it in a podcast, “When we had the strongest economy, or they were telling us that we had the strongest economy in the history of the world, were we worried about the debt then? No. Did we do anything about the debt then? No. Well yes, actually we did do something about the debt. We made it bigger.”

It’s easy to simply shrug off the debt. People have been warning about it for years. But it’s not a problem until it is. Debt is neither free nor is it irrelevant.

At some point, somebody has to pay for all this. 10/06/20 https://schiffgold.com/key-gold-news/national-debt-surges-past-27-trillion/

Yes, this is important.

Yet, the hope that many people, companies, as well as state and local governments is to have the federal government further increase MORE of its debt and give them funds to pay off their debts and/or and keep them going.

While the USA has more time, and the world for a time will not do much more related to debt, people would do well to pay attention to biblical prophecy on debt.

Notice a prophecy God inspired the prophet Habakkuk to write:

2 Then the Lord answered me and said:

“Write the vision
And make it plain on tablets,
That he may run who reads it.
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. (Habakkuk 2:2-3)

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,
Because of men’s blood
And the violence of the land and the city,
And of all who dwell in it. (Habakkuk 2:6-8).

The above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. Notice that the prophecy says it is so bad, that people should run who read it. That is, they should seriously consider what this means and take the appropriate steps.

The Bible shows that foreign creditors will rise up.

Because US and British-descended leaders ignore, and even despise, instructions and warnings from the word of God, destruction will come to them. Notice something God inspired the prophet Isaiah to record:

12 Therefore thus says the Holy One of Israel:

“Because you despise this word,
And trust in oppression and perversity,
And rely on them,
13 Therefore this iniquity shall be to you
Like a breach ready to fall,
A bulge in a high wall,
Whose breaking comes suddenly, in an instant.
14 And He shall break it like the breaking of the potter’s vessel,
Which is broken in pieces;
He shall not spare.
So there shall not be found among its fragments
A shard to take fire from the hearth,
Or to take water from the cistern.” (Isaiah 30:12-14)

Most of the leaders in the USA, UK, Canada, Australia, and New Zealand despise the word of God, trust in perversion, and think nothing of oppressive debt levels.

Increasing debt for the USA was number 11 from my list of 20 items to prophetically watch in 2020:

11. Debt

The Bible teaches that the result of debt accumulation will be far worse than even many pessimists believe. …

(Habakkuk 2:2-8; English Standard Version)

The USA is the most indebted nation in the history of humanity and those in it should try to understand this prophecy.

God told Habakkuk that this should be a very serious matter.

US debt will increase in 2020.

Have you been paying attention to this?

This year it looks like the USA will increase the absolute dollar amount of its debt higher than any year since its founding!

Increasing debt will not end up well for the USA and its British-descended allies.

Some items of possibly related interest may include:

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