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| I Wonder What George Would Say |
The reason the world is in such bondage is debt. The only people who are at true peace with themselves are those who have no debt. The same concept works for the globalization of the world economy. The countries that have no debt will be the decision makers in the end-times. In fact, the lending countries will be the real “players” in the global empire of one world government; while holding the countries that owe them money in financial bondage.
If you’re like most, you have heard the numbers being thrown around regarding the amount of debt the United States is in? According to a report by the New York Times in 2010, our national debt is about $12 trillion. The truth of the matter is this $12 trillion is only the “visible debt” the government wants you and me to see. Just to see a snapshot of the real picture, let’s do a quick calculation of the real numbers:
Keep in mind that these numbers are dated back from 2009. Allow me to quote Dr. David Jeremiah:
“Fiscal economists use a term that designates the cause and magnitude of our debt: infinite horizon discounted value. While this term represents a highly complicated formula that determines the value of all promised benefits, current and future, in terms of our presenting day dollars going forward into the infinite future, its simple meaning is: the gap between promised Social Security and Medicare benefits accruing to every American with a registered Social Security number and the actual income from taxes in a given year. It is an approximation based on life expectancy in actuarials. For Social Security alone that gap is $17.5 trillion!
Unfortunately, Social Security is not our greatest problem. Medicare is many times worse. Our current Medicare program has three separate centers of coverage and funding. Medicare Part A covers hospital stays. Medicare Bart B covers doctor visits. The most recent addition to the Medicare programs, Part D, which covers prescriptions, took effect in 2006.
The current unfunded liability for Medicare Part A is $36.7 trillion; for Part B it is $37 trillion; and for Part D it is $15.6 trillion. The total liability of all three unfunded Medicare programs is $89.3 trillion. This is five times as much as the unfunded Social Security bill.”
Now let’s calculate some of these numbers. If we add the unfunded liability of all three parts of Medicare to the already unfunded liability of our Social Security, we will arrive at the mind-bending amount of $106.8 trillion. Wait, we are not done. Now, add our national debt of $12 trillion and that gives us the mind-altering total of $118.8 trillion. If we were to distribute that debt to all taxpaying citizens, each of us would be responsible for $383,000 or $1,532,000 per family of four. Those are the numbers of 2009. A June 2010 report says that another $1.4 trillion can be added to the 2009 debt and yet another $100 billion since January 1st of 2011. That is a grant total of $120.2 trillion dollars of actual debt.
In 2009, the interest on just the first $12 trillion alone (which we have to pay), was $383 billion. To help us put this into perspective, just to pay the interest on our national debt, the government took 40 cents from every dollar that came in from taxes. I hope it sank in what I just wrote – that is 40% of every American taxpayer just to stay above these eight countries calling in their debt!
Did you know that in 2009, 50% of our nation’s public debt (that means our debt) is owned by foreign governments and financial institutions, like global banks? It is true. Here is a list of the top eight countries that hold the U.S. in debt:
China $798.9 Billion
Japan $746.5 Billion
United Kingdom $230.7 Billion
Muslim oil countries $188.4 Billion
Caribbean bankers $169.3 Billion
Brazil $156.2 Billion
Hong Kong $142.0 Billion
Russia* $122.5 Billion
*Russia became so angered by President Reagan’s “star wars” and “Reaganomics” that they decided to work to put the U.S. into debt to their own country; just like Japan did after the U.S. did their checkmate, post-World War II. As you can see, Japan is now the #2 lending master. In 2007, Russia owned no U.S. debt and now she is #8 on the grand master list.
Here is a mind-bending factor: the U.S. is in so much debt that we are racking up an accursed amount of interest of $41 million per hour. To even make it more real: that’s $984 million per day; $690,000 a minute; and $11,500 per second. If the government was to pay the interest and principle on our nation’s debt, they would have to raise the taxes to 70 cents per dollar, increase the population by 400% and even then, it would take 7 generations to pay – that is assuming the United States government would never go into debt AGAIN. With the abortion and euthanasia rate tripling each year, this simply will never happen! It has already been determined that the countries, or religions, that defy divorce, abortion, euthanasia, and debt will rule in the end. The sobering reality is – the United States of America will not be one of them. We are too far gone. Am I being a defeatist? No – a realist! So, what is to happen to our country?
Since the odds of America honoring Biblical guidelines when it comes to spending money is next to nil, we have to consider the proposed idea of the European Common Wealth Commission and the G20; turn America the Republic over to Europe. Some say this will never happen. Really? Since when does the slave tell the lender what to do? If Americans are still so arrogant to think we are the “most powerful country in the world,” we deserve to be humbled in such a fashion. Let’s take a look at what common sense commentator, Charles Goyette says:
“America’s debts at any level -$12 trillion…won’t be paid. They will simply be rolled over again and again until America’s creditors are unwilling to loan any longer. The nation is in the same position as someone who has taken a cash advance from his Visa card to meet his mortgage payment, and then has taken out a new MasterCard credit line to pay his Visa bill. Credit card debt juggling may appear to work in the short run, but it is a road to financial ruin. And just as compound interest is said to be the investor’s best friend, it is the debtor’s worst nightmare, as debt growth becomes exponential.”
What is a nation to do? As with personal debt, cut up the credit cards and decide NEVER to go into debt again. Next, develop a plan that will ultimately get itself out of debt and stick to it. Finally, start selling off everything in the nation that is NOT a necessity. Commit to giving 50% of the sale profits to national debt; 40% to internal debt; and 10% to caring for the needy, by starting with the elderly. Is this plan too simple for a complex nation? Here is what God has to say about it:
“The law of the LORD is perfect, restoring the soul; the testimony of the LORD is sure, making wise the simple” (Psalms 19:7, NASB).
“The LORD preserves the simple; I was brought low, and He saved me” (Psalms 116:6, NASB).
“The unfolding of Your words gives light; it gives understanding to the simple” (Psalms 119:130, NASB).
God’s ways are absolute and perfect. When an individual or a nation obeys them, the person, or nation, is restored. The only tangible way to make this a real possibility is to humble the self-proclaimed “wise men” to simplicity. Without functioning simply, we will not be preserved by the Lord. Those who are not preserved by Him erode and are turned over to the consequences of their wrong (see Col. 3:25).
This article is an excerpt from “Finances & the End-times,” by Stephen R. Phinney.
