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582 People Prayed
1836 People have read this article

ARE YOU CONCERNED ABOUT THE NATIONAL DEBT?

Lord, we pray that we would have no debt outstanding except the continuing debt to love on another (Rom 13:8)

Ten to 20 years from now, we will not be talking about impeachment, and believe it or not, we won’t still be talking about Donald Trump either. We will be talking about our debt crisis.

For all the good that came from this era, the Bush, Obama and Trump administrations will all be remembered as the ones that caused the crisis that will hammer our children and grandchildren. To understand where we are, it’s helpful to review the past few years of this issue’s development.

Weigh in on this important topic–is there an impending debt crisis? What do you think? Leave a comment.

At the Bush White House, where I worked for eight years, we knew we had a long-term entitlement program spending problem coming down the track, but we thought of it as far off in the future. Unfortunately, the Bush administration was horrible about spending.

For an administration that campaigned on limited government, we increased nondefense discretionary spending 8% a year during our first term. We also added even bigger increases to the defense side. We introduced a new entitlement for prescription drugs for all Americans instead of targeting it for the needy.

By the second term, the budget hawks were trying to put on the brakes, but with war spending and then Hurricane Katrina, we never really got discretionary spending under control.

Finally, with the financial crisis, we stopped even trying. Throw in the booming entitlements, and we left a really bad legacy. To George Bush’s credit, he did expend a lot of political capital on Social Security reform. He jumped on this issue before the country was ready — and nothing got done.

In 2008, federal government spending neared an inflation-adjusted record of $28,388 per American household—the highest level since World War II— up from $21,891 per household in 2001. Sixty percent of all that new spending was in areas unrelated to defense and homeland security.

During the Obama years, with all the talk of stimulus, the spending just got worse. President Barack Obama ran historically massive trillion-dollar-plus deficits his first few years, when he had a Democratic congressional majority.

Republicans in Congress tried to fight this massive spending with limited success. Some Republicans also tried to raise the entitlement issue, again with no real success. The Obama years were notable as a time when most Republican voters and politicians seemed to really care about our spending and debt problem.

After screaming about spending for eight years of Obama, Republicans have been pretty silent about it during the Trump years. There has been no Republican discussion of entitlement reform, which makes things look more than a little partisan after all the shutdown fights over spending under Obama. Trump has taken the entitlement issue off the table completely, which makes sense politically, because voters are not open to it, but from a policy perspective, we are getting closer and closer to the tipping point into a debt crisis.

The presumption in Washington has always been that as we get closer to an entitlement-driven budget crisis, both parties would finally be motivated to tackle the problem. But we are now close. We are over 100% on our debt-to-GDP ratio, which is widely viewed as problem territory.

This is when we always expected to make a deal. Do you see a deal on the horizon? The two parties can’t even get the most simple bills passed. Do you see any chance of fundamental entitlement and spending reform passing in the environment we have?

This year, we have strong economic growth, low unemployment and low interest rates—and we are still going to run a $1 trillion deficit. The Congressional Budget Office estimates that we will add over $12 trillion to our national debt over the next 10 years.

This is all presuming a good economy. A recession would push it all up—maybe by a lot. So would a war. We are already at $15 billion to $20 billion of total federal debt, depending on whether we count intergovernmental debt. This comes out to $67,000 just in federal debt per person in America. . .

This means that when the debt crisis comes in 10 to 20 years, there will be plenty of blame to go around. This period from Bush to Trump will not be remembered for the Iraq War or impeachment; it will be remembered as the period where we sold our kids and grandkids down the river.

(Excerpt from The Daily Signal. Article by Neil Patel.)

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13 Replies to “ARE YOU CONCERNED ABOUT THE NATIONAL DEBT?”

  1. We need to seek God’s wisdom and His ways of government: for the LORD has established His throne in the heavens, and His sovereignty rules over all. In Matt. 6:33 Jesus says we are to seek His kingdom first. What a privilege we have to voice our values of godly character and pray as we join with others for a revival of Truth to infiltrate our nation with God’s TRUTH. We need to LISTEN to the LORD and stand firm in His strength and the Holy Spirit as we are called: To be His LIGHT and bold witness of love and obedience, for His glory. In Romans 13, Paul gives us a godly view of government: we are to be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God. Please find a copy of Romans 13. (13) Let us behave properly as in the day, not in carousing and drunkenness, not in sexual promiscuity and sensuality, not in strife and jealousy. But put on the Lord Jesus Christ, and make no provision for the flesh in regard to its lusts.

  2. People need to understand something. There are always consequences for living beyond our means. Whether the consequences are physical, emotional or other…those consequences come as a result of not living within the boundaries God has told us to.
    Right now our debt is out of control. It has been for sometime and no in DC really addresses it. They give it lip service and then think it will disappear. It won’t. As of now, the “exponential curve” is working against us. The EC can work in our favor…or against us as it is now. That is what happens with unaddressed debt. The more we ignore it, the worse it gets at an accelerated rate. Its actually simple math but we continue to ignore it at our nation’s peril. The debt could be erased through cancellation (like a Year of Jubilee) but since much of the money we owe is to other nations, internal banking system & other conglomerate elitist, that probably won’t happen because they don’t want to lose money. Elitist thinking just wants to get richer and richer. One of our biggest debts is to China and their gov’t. does not lean toward getting rid of debt because it gives them leverage against us.
    We truly have to pray that God will show us a way. Our leaders need conviction with courage to talk about it. It will be painful but its necessary if this nation is to have a good economic future.

  3. America’s debt has escalated with America’s sin. The solution must involve repentance and return to godliness, as well as sound fiscal steps. The porn show and evil portrayed at the (last two)’Super-bowl half-times’ must come down. The abortion must end. This will happen as God’s people live godly and pray. God can certainly wipe out our debt.

    3
  4. I pray that we become responsible for the debt as we continue to drain the swamp. I believe that our revenues from oil reserves along with the property confiscated from President Trump’s Executive Order of 12/2017f regarding those caught in Human Rites abuse and trafficking will be applied to help. Thankful we have a President who is reigning in Foreign Aid, United Nations funding and overall wasteful spending. God’s mercy is on the United States as we do not let up being humble and praying for Him to guide our nation.

    3
  5. Yes , I also will pray about reducing the deficit. I am also wondering if a reduction may start occurring soon. What effect will it be when other countries pay their “fair share” and the tariffs the USA has paid are reduced? Might we have a slow down on the deficit? If our businesses continue an upward growth, the taxes paid would increase. I pray for financial wisdom for those in political positions and for our selves as consumers.

    3
  6. Lord Your word reminds us the debtor is slave to the lender. We have allowed our govt leaders to enslave us to lenders we did not choose, and they use the tax money taken often times for programs that go against your very teaching, allowing for idle hands or to promote liberal agendas referred in scripture as warning of impending judgment. Forgive us Lord. May each of us take seriously our own household indebtedness, and if we belong to a church that is in debt let us take seriously that as well for You do not take well to decisions made against Your spoken word. May we have a change of heart, and may You give wisdom to our Leaders, especially our President to reign back this evil excuse of lack of fudiciary policy. May this wrong be righted by godly decisions made by officials in our govt choosing to fear God above fearing man in the next election. We pray in Jesus name for repentence and faith in Christ alone for Your glory alone. Amen

    5
    1. Exemplar gratia
      Just on one thing that is isolated and insignificant. A 12 pack of original Coke has increased one dollar in the last year. Now closing the “last year, another 59 cents added.total $1.59 cents. Also the state Governor wants an increase in sales tax to almost 10. cents. No big deal. Just noticing as I ponder the increase of cost of living among all things increasing in price? Little things mind you, but the quantam leap in the cost of consumer goods will be suddenly upon us.

      1
  7. Father forgive us of our greed. We as a nation have chosen to live beyond our means. Your word says that fear of the Lord is the beginning of wisdom. Restore to Your people a fear of the Lord that we would walk in wisdom. I pray that You will put this at the forefront of our leaders’ minds. Far more immediate a concern for the next generation is the effect of living beyond our means – far greater than any “climate change” concerns. We do not want to see our children and grandchildren enslaved to this nations creditors.
    Deliver our nation from the identity of the benevolent big brother to so many nations and people. Your word says “If anyone doesn’t provide for his own, particularly his own household, he has denied the faith and is worse than an unbeliever.” In Your mercy, may we enter into a time of fiscal responsibility, individually and as a nation.
    We repent of the pride that has led us to spend beyond our means and leave the problem to others to deal with. We declare our only hope is in You and cry out for mercy on this nation.

    5
    1. There’s been bad administration with money. God said to be wise. Everyone thinks about themselves only. It look like no one cares we really need Christians Presidents!!! Or really we are going to be in bigger debt. I think they should seize every one of the past President who got rich. Not our present President!! I pray for the next Presidet. Father give us wisdom Amen.

      1
      1. we have had Christian presidents, it didn’t help. Lord, we repent of building our own lives and businesses on the whirlwind of debt. this is not your way. as your people, help us to clean our houses and admit to our addiction to overspending. help us to place our faith in You and Your provision system. have mercy on me in tjis regard.

  8. A trillion dollar deficit means borrowing about $3000.00 for every citizen.
    Much of what people like in government action is supported by this borrowing.
    It’s time for citizens to stop cheering for the enlarged programs and to
    call for integrity about the deficit/debt.

    9
  9. Lord You are our God and many of us are You people. Too many of us are not Your people. Many of us are controlled by money. Many sell our future for today. Most politicians lie cheat and steal to get in office and stay in office. The media is no help and quite a hindrance to the truth and big business is absolutely disgraceful. Lord we need help from You on our debt issues. Please help us Lord. I pray this in the name of Jesus Christ. Amen.

    11

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