Author Topic: The federal debt is worse than you think - Brookings Institute  (Read 2981 times)

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Mimi

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The federal debt is worse than you think. Realistically, the number is more like $210 trillion according to some experts. Brookings article

Also see CNS story: Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Richard Myers

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #1 on: April 10, 2015, 09:14:03 AM »
America  is no longer the nation it once  was. We are nearing the end of time that has been allotted to sinful man.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

colporteur

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #2 on: April 10, 2015, 09:44:11 AM »

 At this rate it does not take a prophet to see that there is going to be big fall out shortly.
It's easier to slow a fast horse down than to get a dead one going.

ejclark

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #3 on: April 10, 2015, 06:44:26 PM »
Who is it we owe all this money to?

I've asked this question before but I've never heard a real answer.

Mimi

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #4 on: April 11, 2015, 08:02:07 AM »
This is Kotlikoff's answer. It is not so much as who we owe, as how we account for what we owe.

America’s Fiscal Insolvency and Its Generational Consequences
Publication:
Testimony to the Senate Budget Committee
Author(s):
Laurence J. Kotlikoff
Date:
2015

http://www.kotlikoff.net/sites/default/files/Kotlikoffbudgetcom2-25-2015.pdf
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

colporteur

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #5 on: April 11, 2015, 01:19:21 PM »
Who is it we owe all this money to?

I've asked this question before but I've never heard a real answer.

For one thing, a fair amount of it is owed in social security to all those baby boomers that paid in their whole life. That money has been spent long ago.
It's easier to slow a fast horse down than to get a dead one going.

Richard Myers

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #6 on: April 12, 2015, 10:34:29 AM »
Yes, as pointed out in the article Mimi linked for us, transfer payments make up a large portion of the real debt. $25,000,000,000 is owed to Social Security. Like General Motors or Detroit, pension plans which generally include health plans, create huge debts that are sinking cities, states, corporations, and the United States. Not enough monies are set aside to provide for these debts. The Federal Gov does not set any ss aside. They spend it all.

Politics do not look past the present year. If it did, religion would figure into their plans. The leading men of the world are attempting to set things on a solid foundation, but because God does not figure into their plans, they will not be successful.

Let me add one more factor into what Kotlikoff presented. The figures that he used are based on the current economic situation. There is something that he did not speak of, the change in interest rates. Because this is all a shell game, they cannot hold interest rates low forever. We have reached the breaking point. The Fed has continued to hold the  rate down, but soon the  piper must be paid. When rates go up, the national debt will rise dramatically. Interest on the debt is huge at low rates. When rates go up, interest payments go up. Just think  about the increase in that payment if interest rates reach market rates. There is inflation. We know it even if they tell us there is none. So, compute the amount of money that the US will have to pay on the  debt if rates go to five percent. It is a huge increase.

How likely is it that rates will go up?  Only God knows if we will have hyper inflation or deep depression or both.  My guess is  the last. But, only God knows.  The easiest way to wipe out the debt is to monetize it. Just keep printing money and inflation will reduce the  debt. Leave the social security payments the same and let the value of the dollar sink to pennies. The debt problem is solved. The middle class will be decimated.

So, what shall we do? Do not speculate. Do what we have been told to do. Get out of the cities. Pay off your debt. And buy that which you need now. If you need a rake and shovel, get it now. Don't buy gold, buy what is needed to grow food. Make sure your real estate taxes are paid up. When we walk in the light of God's counsel, we will be blessed even if we do not understand why.

More important than financial security is our  spiritual security. It is time to make sure we are fully surrendered to Jesus. When the end comes, we shall lose all of the earthly things we possess. What an exchange!! Trading the things of this world for the things which are eternal!!
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

colporteur

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Re: The federal debt is worse than you think - Brookings Institute
« Reply #7 on: July 31, 2015, 09:25:13 AM »
September promises to be an eventful month. Many big $$$ people have or are rapidly moving their $ out of US banks.  There is talk of an interest rate hike in September.The pope will address Congress in a month and we know where that is leading. Jade Helm is currently engaged.  Lastly there is being a proposed threat of a 2 1/2 mile in diameter asteroid hitting the earth in September. I was handed some papers while working the literature booth at the fair yesterday. While the latter sounds like classic conspiracy theory it is interesting. While I do not take those threats very seriously we as SDAs know that something of that nature is coming as Mrs. White saw balls of fire raining down on the cities causing fires that burn out of control.  The proposed threat of a asteroid/meteor hitting South America was accompanied with the "rapture" and Jesus feet touching down in Puerto Rico. Obviously there are serious theological problems. However, one of these times it would seems likely that Satan is going to pull something in regard to these stories. We know that there will be balls of fire hitting the earth and we know that the feet of a counterfeit jesus will touch down several places in the future.
It's easier to slow a fast horse down than to get a dead one going.