It is official: The national debt of the United States just surpassed the $19 trillion mark. Though seen as one of the wealthiest nations of this world, the truth is that the US is the biggest borrower in human history. It has, even more, significant debt compared to the combined debt of all the members of the European Union.
Financial analysts all agree that the United States will never be able to pay off its debt. As a matter of fact, the consequences of amassing such a large public debt only means a grim future for the country. The United States is like a house of cards waiting to collapse.
With this in mind, it is important that we learn valuable lessons from the situation the United States is in. In this article, let me share with you some vital insights that we all should gain from this problem.
The borrower is a servant to the lender
Financial trends and concepts can be very tricky and sometimes, deceiving. However, one thing for sure and the Bible tells us about this: the borrower is a servant to the lender. Proverbs 22:7 states:
The rich rules over the poor,
And the borrower is servant to the lender.
The largest foreign holders of the US’s debt are China, Japan, and Belgium. Of these three, China is the largest single holder of U.S. government debt. We know that the US and China today are not in good terms due to the South China Sea disputes. This factor may play a vital role in how the US will handle tension in the southeast region of Asia.
Though it may not be evident as of this time, there will be a time of reckoning when the LENDERS will have to exact the penalties and consequences of the inability of the US to pay its debt.
Interestingly, God has promised the United States, as one of the descendants of Israel, that they are supposed to be the lender and not the borrower. It is one of the blessings God gave to the United States (Deuteronomy 15:6). However, because of the moral decay that is currently plaguing the United States, God is withdrawing His blessings to this nation once under Him.
Sacrifice is needed to lower debt
There are two fundamental ways for the US to solve its national debt. First is to cut federal spending. Second is to increase taxes. Of course, this is easier said than done because the majority of people will oppose this. No one wants to make the necessary sacrifice, and therefore, the US national debt will continue to dangerously rise.
Politicians should stop being people-pleasers
Many politicians have mastered the art of using money to gain or maintain power. They would love to deceive people with sweet promises that in the end will only bring more problems and debt.
For example, many politicians support the expansion of the number of individuals put on welfare. This has been one of the favorite programs of the Obama administration. This has caused more problems than solutions. With more people relying on the government’s subsidies to survive, fewer will strive harder to attain the American dream. The government needs to spend more money to support more people.
Like what I mentioned before, it is unpopular for the majority of Americans to either cut national spending or increase taxes. Politicians know this, and they don’t want to lose the favor of the people. Thus, what they do is just to go with the flow and sweep the problem under the rug, hoping that the problem will not catch during their term.
As of this time, I don’t hear presidential candidates talking about the growing national debt. They would rather ignore that and just focus on things that will be pleasing to the ears of voters.
So where are we heading?
No matter where you are living right now, what happens in the United States will surely have a direct or indirect effect on your life. As one saying goes, “When the United States sneezes, everyone gets the cold.”
Everyone agrees that the United States debt will continue to rise. There will come a time when the United States will not be able to pay its interest rates. This will send a wrong signal to lenders, and they will eventually be reluctant to provide money to the United States.
When this happens, the US will not have sufficient money to sustain its economy. The US will be forced to cut national spending or raise taxes. Both of these solutions will result to super inflation and eventually, the FALL of the United States.
Interestingly, the Bible has long ago prophesied the rise and fall of the English-speaking nations, and these include the United States. Jacob’s trouble will soon be upon us.
The United States has long been the police officer of the world. Now, imagine your society without police. The same thing can also happen to the world without the United States policing it.
This will create a power vacuum and will soon give way to the rise of the Beast coming out from Europe.
The world is being set for the second coming of Jesus Christ. Biblical prophecies are unfolding right before our eyes. The big question now is, are you spiritually ready? Time is running out and before you know it, you’ll be caught off guard. Our time is now to turn to God before it’s too late!