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!!