Why Doesn’t Congress Do Something About the National Debt?
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Why Doesn’t Congress Do Something About the National Debt?
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America’s national debt is increasing at a staggering $1 trillion every 100 days. While both parties recognize the issue, both refuse to take any real steps to address it. Why?
From The Telegraph. An economic specter haunts America. It’s also one that many American politicians — Republican and Democrat — say a great deal about but are reluctant to address.
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The name of that shadow is the United States National Debt: what the US Treasury Department defines as “the amount of money the Federal Government has borrowed to cover the outstanding balance of expenses incurred over time.”
If you go to the Treasury’s website, you can see just how big that debt is. In mid-May, it was 34.5 trillion dollars. The pace of the growth in that debt is equally stunning. Approximately 1 trillion dollars is being added to America’s National Debt every 100 days. …
The truth is that the rapid growth in America’s National Debt is driven by two factors. The first is spending on major entitlement programs like Social Security, Medicare, and what is called Income Security (for example, unemployment benefits).
Taken together, these programs constituted 68 per cent of Federal Government spending in 2023. …
The second factor at work is that US government tax revenues aren’t covering government spending. In 2023, the federal government collected almost 4.5 trillion in revenue, but spent 6.16 trillion. …
These problems are well-understood by legislators on both sides of America’s political divide. Back in October 2023, a bipartisan group of Congressmen proposed creating a bipartisan federal debt commission to try and address the challenge. But for months, this proposal has struggled to gain traction. Why so?
One reason is that legislators from both parties have few incentives to tackle the problem. It’s hard to see, for instance, how significantly reducing the pace of the national debt’s growth (let alone diminishing the national debt’s size in real terms!) can avoid making substantial reductions in entitlement programs. …
Anyone even suggesting that spending cuts are unavoidable would face an electoral backlash from these sizable segments of the American electorate. …
Then there is the revenue side of the equation. Democrats insist that any national-debt reduction must involve tax-increases. They regard this as essential if they are to sell expenditure reductions to their constituencies. In response, Republicans point out that tax increases will suck more capital out of the private sector, thereby diminishing productivity and growth. …
America’s political class consequently chooses to live in a fiscal unreality. Yes, that may save their political skins. In the long-term, however, the specter of America’s National Debt’s profound dysfunctionalities will darken more and more of America’s economy. In that world, there are no winners.
Share your prayers and scriptures for America and its national debt below.
(Excerpt from The Telegraph. Photo Credit: P_Wei/Getty Images Signature)
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God may need to help America , if he so choses. When the day comes that federal govermentals cannot pay the interest on the national debt.
Yes both parties are doing nothing to address the problem, but the democrats are the party using so called free handouts as a way to buy votes to win elections in an exponential way. No politician should leave office a millionaire. Our government has not been a constitutional republic but a socialist democracy for most of my 69 years and getting worse. God Almighty give us public servants to govern us who seek Your guidance and follow Your laws. Thank You Amen🙏😇🙏
Hey guys I assure you that without a doubt the sun is going to rise in the morning. And just as sure our nation’s financial system will crumble. No different than if we borrowed way more than we could ever begin to repay …
The issue with us as intercessors is that GOD uses the reconstruction to get America back on track for him !!!
Satan undoubtedly has his master plan for our destruction so we as gatekeepers must pray and decree against his evil plans.
AMERICA will return to its roots and put God first !!! In our savior Jesus name we pray and confidently believe !!! Hallelujah!!!
Lord, I repent of any part I have played in living in fiscal unreality and usury. Thank you for revealing your will to your people in regard to fiscal responsibility – may we take seriously your commands and principles and obey them. I do not trust our government, social security, my income, or any financial system that man has devised – the arm of flesh is guaranteed to fail, even my own – but YHVH will never fail those who trust in Him and live in obedience to Him. So in this world of financial instability, I proclaim the truth printed on our currency – “IN GOD WE TRUST”. I trust you, YHVH.
Almighty Father, we don’t deserve your mercy, but I pray for you mercy. Without the blood of your son, we have no hope, but your word tells us if we humble ourselves and pray, repent of our sins, and turn from our wicked ways, you would hear from heavenand you would forgive our sins and heal our land!!!
In Jesus’s name Amen
Lord God Almighty, this country is in a complete stalemate and only you can save this country 🙏! This debt has been incredibly ridiculous for so many years and nothing surprises you. Long overdue, repent and come to Jesus. He is the only answer to this gigantic mess!
Thanks for restating the problem. Still looking for solutions.
To Mr. Gregg:
The debt is a real problem, however, Social Security is NOT an entitlement program. We were required to contribute, and promised the return of income when we were unable to work. The funds we paid in were used as a slush fund to fund the debt.
The last paragraph copied here covers it. The degree of sacrifice and the level of change of personal living/ spending habits necessary for each person.. except maybe for the very wealthy.. would be so dramatic that it would completely upend all of our lives. Think of the news reports of the collapse of the oft- mentioned nations in recent years.
Venezuela,..etc.
It’s called usury,as we all know, spending money that we don’t have. As I understand it the worst part of it is the Social Security System, – not to mention-, the all too well documented credit lines that people live on. I myself am guilty of being in the social security system- as I just have not been able to get work I can do,because of infirmities at 70 years of age, and not being trained in another field out of my lifetime career.. also having not created a retirement during my working years.. and unfortunately I know there are millions of others who are living on Social Security as well. Remember that Social Security was never designed to be a lifestyle.. only a safety net. Saying these things over and over again is just preaching to the choir, – and we are headed for some scary and dark times because this balloon will burst. And I’m just in the echo chamber here.. I’m just parroting what I’ve heard- but I know it’s true. Here’s the link to open bible verse references to usury
https://www.openbible.info/topics/usury
“America’s political class consequently chooses to live in a fiscal unreality. Yes, that may save their political skins. In the long-term, however, the specter of America’s National Debt’s profound dysfunctionalities will darken more and more of America’s economy. In that world, there are no winners.”
Lord, grant us favor and mercy as we undergo either a complete breakdown of our system and or financial disciplining..that will undoubtedly duplicate the tragic scenarios we have seen-, even in our own country in the 1930s..and repeated again throughout history- in Nations succumbing to socialist tyranny. Have mercy on us Lord and grant us internal strength and please manifest your Holy Spirit in our lives that we can viscerally sense your presence.
In Jesus mighty Name, Amen
Holy Father please give our government wisdom, discernment and a heart for the citizens they were elected to serve as well as for you.
The funding for foreign “aid ” and benefits for illegals (giving them free housing, money, phones, medical, etc. that are not only unavailable for citizens, but come at the cost of cutting government services like First Responders, veterans benefits) are major spending issues. These are the true entitlement programs whic also are a major drain. Unfortunately. Social Security has been used to pay many other things other than returning money people have put in money for retirement. I don’t believe getting back your hard earned money should be called entitlement.
The Bible says that the borrower is servant to the lender. We do not come into agreement with going into national debt or having our taxes used for evil ( abortion, transgender “treatment,” indoctrination of children, etc).
In Jesus’s mighty name, we pray for the salvation of Everyone In government and side agencies from the top to the bottom and for boldness and unity among believers to do what is right and just in God’s eyes.
“Having our taxes used for evil.”…
I definitely agree on that.
Thank you for your observation about having our hard-earned money return to us in Social Security.. yeah I guess it should not be called entitlement.. although what has become painfully obvious is all of these systems from their Inception were designed to enslave Us in debt and to cushion the ruling class and the wealthy from the fruits of our labors.
It has been pointed out to me recently on a prophetic prayer website, that the Lord knows the systems were evil from their Inception -,and designed to enslave us, and He takes that into consideration in his Mercy.
If anyone is interested.. the prophetic prayer site is Julie Green Ministries.. I access her platform first on Telegram-, and then just click the link and it goes to Rumble