The New American: The report from the U.S. Treasury coming on the heels of news reports about Indonesia’s earthquake and resulting tsunami is unnerving. According to the Treasury, the government’s national debt jumped in the fiscal year ending September 30 from $20.2 trillion to $21.5 trillion, or by $1.3 trillion. That’s more than a six-percent increase year over year which, if not reined in, will double the national debt to $43 trillion in less than 12 years.
Unlike the Indonesian earthquake and tsunami, however, Americans have had plenty of warning about what’s coming. And yet Senators just voted 93-7 to spend another $854 billion in a “stopgap” measure.
Six of those Senators opposing the bill were Republicans (Independent Senator Bernie Sanders was the seventh). more …
Opinion: “For as in the days before the flood, they were eating and drinking, marrying and giving in marriage, until the day that Noah entered the ark …”
Editor and I learned at the Ark Encounter that it took Noah almost 100 years to build the Ark. Can you imagine the progressives of that day?
Why is Noah cutting all those acacia trees and causing deforestation which will cause the polar ice caps to melt and millions will die? Noah and his three sons should be arrested!
From the article:
In July, former Representative Ron Paul pointed out that the national debt now exceeds the total economic output of goods and services in the United States in a year, but even that isn’t the whole story: “Social Security and Medicare trust funds will both soon be bankrupt, putting additional strains on the federal budget [and] on American taxpayers.”
That’s because the “reserves” in those trust funds have already been spent by the federal government and have been replaced with promissory notes to be redeemed by the Treasury in the future. The future is now, and as those reserves are tapped, those promissory notes will be redeemed by the Treasury, adding to the national debt.
There is a reason the progressive politicians of today have no problem with massive debt and a bankrupt Social Security scam. They have a separate government medical plan and their salary for life after just 2 years of service.
What they don’t know is that once SSA, Medicare and Medicaid go bankrupt, the only option will be to print their way out, causing the dollar to crater.
“… and the flood came and took them all away” Matthew 24:37-39.