Debt Exploding, US at Risk of Fiscal Crisis
Here is another recent news release that reminds us all of the stark reality facing the nation if the Lord tarries His coming:
The federal government is heading ever deeper into debt and could be on track toward a "fiscal crisis," the director of the Congressional Budget Office warned.
CBO Director Douglas Elmendorf said federal deficits will add just over $7.5 trillion more to the national debt within 10 years. That would bring the national debt to more than $25 trillion.
He also told the House Budget Committee Tuesday that the national debt will be bigger than the entire economy within 25 years -- and grow even more from there.
Elmendorf explained that will eventually mean "the risk of a fiscal crisis."
Actually we are already living on borrowed time. The amount of debt through-out our nation is staggering. Take a look at the charts below. They speak for themselves:
Here is another recent news release that reminds us all of the stark reality facing the nation if the Lord tarries His coming:
The federal government is heading ever deeper into debt and could be on track toward a "fiscal crisis," the director of the Congressional Budget Office warned.
CBO Director Douglas Elmendorf said federal deficits will add just over $7.5 trillion more to the national debt within 10 years. That would bring the national debt to more than $25 trillion.
He also told the House Budget Committee Tuesday that the national debt will be bigger than the entire economy within 25 years -- and grow even more from there.
Elmendorf explained that will eventually mean "the risk of a fiscal crisis."
Actually we are already living on borrowed time. The amount of debt through-out our nation is staggering. Take a look at the charts below. They speak for themselves:
These slides tell a story we don’t really want to face. Not only is the Fed in trouble, but the private sector banking system is drowning in debt. These slides do not touch on other debt that exists through-out our nation. Yet, in spite of these realities our current President has submitted a 4 trillion dollar Federal budget that will run about a 500 billion dollar deficit again this year. This in spite of the fact that the Federal government is taking in record amounts of revenue through taxes! It would seem to me that instead of raising the Federal budget beyond the record revenue we would simply balance the budget. After all, we could spend more this year than last without running a deficit simply because we took in more tax revenue. But that’s evidently not good enough. Sadly, there is no political answer to this dilemma. Our leadership is bent on spending us into oblivion. Quite frankly we are almost there.
Can We Weather the Storm?
It is no secret that trouble is brewing in our nation. Beyond the problem of a sea of debt is the growing attack upon religious freedom. Of course, I’m really talking about a growing attack upon the expression of Christianity in the general culture. And if that isn’t discouraging enough we must now stand against the advances of Islam within our nation. Legitimate immigrants are certainly free to worship per their conscience in America as citizens of this great nation. However, no one has the right to promote ideology of any kind that destroys our Constitution. The Islamic community in America does not have the freedom to institute law in their communities that violates the US Constitution. Trust me. If this is left unchecked our nation is headed for a crisis like no other we have ever faced in our history. I challenge you to become familiar with Sharia Law. It will not take you long to discern that Islamic law is simply not compatible with the spirit of America.
How should those who know the Lord respond to all of these growing challenges? Well, in the first place we should actually pray for America. I’m afraid we simply are not engaged in meaningful prayer for the nation. Next, we need to resolve to confess Christ without apology in the days ahead. We must not be weak in this hour, rather we need to step up and lovingly confront our culture with the truth of the gospel and the Lordship of Jesus Christ. The Lord Jesus Christ is our only hope and we need to confess that! And finally, we need to refocus on things eternal (2 Cor. 4:18). It matters not what it may cost to follow Christ in terms of the loss of temporal things. They will pass away anyway. Set your affection on things above and not on things on the earth. Our treasure is in heaven from whence Christ is soon to return to gather us unto himself. Until then let’s trim our lamps and keep them burning bright as we take our stand for the Lord Jesus Christ.
Can We Weather the Storm?
It is no secret that trouble is brewing in our nation. Beyond the problem of a sea of debt is the growing attack upon religious freedom. Of course, I’m really talking about a growing attack upon the expression of Christianity in the general culture. And if that isn’t discouraging enough we must now stand against the advances of Islam within our nation. Legitimate immigrants are certainly free to worship per their conscience in America as citizens of this great nation. However, no one has the right to promote ideology of any kind that destroys our Constitution. The Islamic community in America does not have the freedom to institute law in their communities that violates the US Constitution. Trust me. If this is left unchecked our nation is headed for a crisis like no other we have ever faced in our history. I challenge you to become familiar with Sharia Law. It will not take you long to discern that Islamic law is simply not compatible with the spirit of America.
How should those who know the Lord respond to all of these growing challenges? Well, in the first place we should actually pray for America. I’m afraid we simply are not engaged in meaningful prayer for the nation. Next, we need to resolve to confess Christ without apology in the days ahead. We must not be weak in this hour, rather we need to step up and lovingly confront our culture with the truth of the gospel and the Lordship of Jesus Christ. The Lord Jesus Christ is our only hope and we need to confess that! And finally, we need to refocus on things eternal (2 Cor. 4:18). It matters not what it may cost to follow Christ in terms of the loss of temporal things. They will pass away anyway. Set your affection on things above and not on things on the earth. Our treasure is in heaven from whence Christ is soon to return to gather us unto himself. Until then let’s trim our lamps and keep them burning bright as we take our stand for the Lord Jesus Christ.
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