How great is the problem?
Jul 13th, 2010 by Randy Toman
The latest from one of my financial e-mail newsletters, the dollar can’t do anything but cave in. Where is the leadership —-the church—the government —the political party’s—the local leadership. Something is going to happen and everyone will be asking—— What the heck happen to this country? DON’T ASK
Consider these facts …
The officially recognized national debt is $13.1 trillion
Unfunded national obligations of Social Security, Medicare, government pensions and more equal $107.8 trillion
$1.6 trillion U.S. Federal deficit
Another $9 trillion in cumulative deficits over the next ten years
$3.5 trillion owed to foreign investors
Plus, another trillion dollars for health care reform, no matter what bill finally makes it through Congress
Grand total of U.S debts: 136 TRILLION.
To give you an idea of how big that is, imagine the government could somehow pay off that debt at the rate of $100 million per day, every day starting right now.
Even at that rate, it would take more than 3,450 years before the total government debts and obligations are paid off.
Bottom line: Savvy domestic U.S. and international investors are now realizing what I’ve been warning about for years … that …
America’s massive debts are un-payable!
The Bethlehem Area School District of PA is $295 million dollars in debt plus the City of Bethlehem, plus Northampton County, plus the State, plus the Federal government. Are you kidding me—-have no idea what that number might be. Add in all the States and school districts, counties, cities Etc. Etc. and what do you think—-that is one hell of a debt—don’t you think??????
Scary when you think of the culture, the mind set and attitude the people and the politicians have toward each other and the divide is getting wider, now throw in racism that is being promoted and you have the beginnings of a major problem.
We Shall See don’t you think?????
My point—-I don’t hear anyone saying we have this type of or this great a magnitude of a problem.—NO one and if you think that is not true—- tell me who is saying what—– and be very specific—– I want names. We have a major problem and no one seems to know and/or agree on the magnitude.
Here is just how great it is, for Jeremiah knew it was a problem of the 10th magnitude.
Jeremiah 23:1
“Woe be unto the pastors that destroy and scatter the sheep of the pasture! saith the Lord.”