(July 14, 2010) Earlier this year President Obama created a bipartisan Debt Commission to analyze America’s fiscal status and future financial outlook. The co-chairmen of this commission are former Republican senator Alan Simpson from Wyoming and President Clinton’s former chief of staff Erskine Bowles. These two men spoke at the National Governors Association this past Sunday.
A Washington Post article (Obama’s debt commission warns of fiscal ‘cancer’) states,
“Bowles said that unlike the current economic crisis, which was largely unforeseen before it hit in fall 2008, the coming fiscal calamity is staring the country in the face. ‘This one is as clear as a bell,’ he said. ‘This debt is like a cancer.’
The commission leaders said that, at present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid. ‘The rest of the federal government, including fighting two wars, homeland security, education, art, culture, you name it, veterans — the whole rest of the discretionary budget is being financed by China and other countries,’ Simpson said.
‘We can’t grow our way out of this,’ Bowles said. ‘We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can’t tax our way out. . . . The reality is we’ve got to do exactly what you all do every day as governors. We’ve got to cut spending or increase revenues or do some combination of that.’”
In February of this year Richard Fisher, president and CEO of the Federal Reserve Bank of Dallas, spoke before the World Affairs Council of Dallas/Fort Worth (Roadblocks to Recovery). In that speech he said,
“Pundits and analysts like to focus on the year in which Social Security will go permanently into the red on an annual cash flow basis—which recently was projected to occur in 2019 but could occur as early as 2016. But they largely ignore the severity of the broader problem: accumulated entitlement debt over the infinite horizon. According to our calculations at the Dallas Fed, that unfunded debt of Social Security and Medicare combined has now reached $104 trillion—trillion with a ‘T’—in discounted present value. And while much attention in recent years has been devoted to Social Security, the lion’s share of the total entitlement shortfall (nearly $90 trillion) actually comes from Medicare. This is a prodigious number. Others—like Pete Peterson’s foundation, which uses a different time horizon in its methodology—calculate the unfunded liability at north of $40 trillion, growing by a sum of $2 trillion to $3 trillion per year. No matter. The problem is frightful, whether you take his numbers or ours.”
The picture these governmental and financial experts paint for America’s future seems to be one of apocalyptic economic devastation. What is the prophetic significance of such an outcome? In September of 2007 I wrote an article titled “The Decline and Fall of America“. In that article (before the 2008 meltdown of America’s economy) I wrote,
“If you read the article “The Coming Invasion of Israel” on this web site, you know that Bible prophecy reveals that a conglomeration of countries will invade Israel in the future. In the last sixty years no non-Arabic nation has dared attack it. There is one very simple reason for this. Any country outside the Middle East knows that America would defend Israel militarily if they initiated a war with them. During the 1967 Six Day War, Russia saw that Israel was decimating its Arab allies. They considered intervening in the conflict but knew that America would have to respond. Thus, a major conflict between the superpowers was averted. Such is the case to this day. However, because of the prophecy God gave to Ezekiel, I believe that America has to lose its superpower status. With a weakened America the invasion of Israel can take place.
Is this another Christian fanatic declaring the sky is falling? Not if you listen to what the U.S. Comptroller General (who heads the United States Government Accounting Office) stated recently in an interview. He is very pessimistic about America’s future as these excerpts from the Financial Times article will reveal:
David Walker, comptroller general of the US, issued the unusually downbeat assessment of his country’s future in a report that lays out what he called “chilling long-term simulations”. Drawing parallels with the end of the Roman empire, Mr Walker warned there were “striking similarities” between America’s current situation and the factors that brought down Rome, including “declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government”.
Inspector General Walker lays out a pretty dismal scenario for America’s future. I agree with him. In the 1960s, Ruth Graham, wife of Billy Graham, read a chapter out of her husband’s new book. After handing the book back to him she said, “Billy, if God doesn’t come soon and bring judgment upon the United States, He’s going to have to apologize to Sodom and Gomorrah!” We as a nation continue to live our lives as if God doesn’t exist. Our political leaders’ only goal is to maintain their power at whatever the cost to America’s security. The Judicial system releases child predators, rapists, murderers on a frequent basis. A segment of America wants to ignore the laws of America by allowing anyone to violate the Immigration Laws of the United States. There is a mindset in our culture that declares the criminal is the victim, a victim of bad upbringing or bad circumstances. Pornography, homosexuality, adultery are prevalent throughout our entertainment and in our lifestyles. The legalization of abortion has resulted in the deaths of nearly 50 million unborn babies. The difference now is that society accepts these behaviors as alternative lifestyles. Liberal Churches deny the miracles of the Bible. They deny the Bible’s authority to guide human beings. The lists of America’s ills goes on and on. The rest of the world is no better. Although God’s judgment is coming upon the world, I believe He will start with America…
The downfall of America may come as a result of a financial collapse. It could come from a military defeat. The War on Terror is not going to go away. Just ask the Israelis after six decades of fighting it. The moral climate which declares there is no right or wrong will also play a part. Whatever it takes for the rest of the world to see that America is weak will happen. Once this occurs, the other powers in the world will have a free hand to wreak havoc wherever they please. This will lead to the invasion of Israel and the End-Times.” [end of my 2007 article]
Another factor in the downfall of America could be political in nature. Even if we are economically or militarily capable of continuing our protection of Israel we may be politically unwilling to support it. President Obama’s administration, unlike all the previous administrations since 1947, seems to be turning away from Israel in favor of the Arab nations of the Middle East (see my blog article from March 18th of this year The Decline and Fall of America Redux and Ezekiel 38-39.
I personally do not want to see America decline in any fashion. However, if it is God’s will for this to happen then I want to keep my eyes on Him and be in His will for my life.
Related posts:
- The Decline and Fall of America Redux and Ezekiel 38-39 (March 18, 2010) In September of 2007 I wrote an article for my website titled The Decline and Fall of America. The point of this article was to say that America had to decline in power in order for a prophecy in Ezekiel ch. 38-39 to come to pass. Another...
- CNBC article agrees that America will decline (March 25, 2010) Yesterday the CNBC website ran a news story titled Health Care Law Signals US Empire Decline? The opening paragraph of this article states, "The passage of the health care law shows that the US empire is declining because it illustrates the fact that people expect the state...
- Pat Buchanan’s book “Day of Reckoning” predicts the end of America (November 25, 2007) In his new book "Day of Reckoning: How hubris, ideology and greed are tearing America apart", Pat Buchanan declares that America will not survive if it continues on its self-destructive course......
- America: “Curiouser and curiouser” (April 10, 2010) A friend of mine recently forwarded an email to me titled "Budget in Wonderland" written by Bill Miller who is the Senior Vice President and National Political Director of the U.S. Chamber of Commerce. The email stated, "'Curiouser and curiouser,' Alice exclaimed after falling into Wonderland and...
- POLL: 14% of Americans believe President Obama is the Antichrist! He’s not but he is treading on dangerous ground (March 26, 2010) According to a recent Harris poll 14% of the American people think that President Barack Obama may be the Antichrist! Strictly speaking, an American President would not meet the requirement of either the Eastern interpretation or the Western interpretation of End-Times biblical prophecy which declares where the...
- The Election of Barack Obama as President (November 9, 2008) Someone recently asked me if Barack Obama would become a player in End-Times events. My overriding concern for whoever becomes President of the United States is what is God's will for this country. The Bible makes it clear that it is God who raises up rulers and...
- U. S. Comptroller General warns that America parallels the fall of the Roman Empire (August 14, 2007) "Drawing parallels with the end of the Roman empire, Mr Walker warned there were 'striking similarities' between America’s current situation and the factors that brought down Rome, including 'declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility...
- President Obama, like every other President, is wrong on Israel (April 17, 2010) The New York Times reports that President Obama is initiating a "far-reaching shift in how the United States views the Israeli-Palestinian conflict, and how aggressively it might push for a peace agreement." (Obama Phrase Highlights Shift on Middle East) The article states, "Mr. Obama said conflicts like...
- October Updates: Economic Crises, Antichrist, Russia and Israel (October 12, 2008) According to the September 25th Financial Times the United States will lose its superpower status. ("US ‘will lose financial superpower status’")...Russia continues to assert their military strength after invading Georgia and making arms deals with Venezuela. Now they have test-fired long-range ballistic missiles. ("Russia test-fires ballistic missiles")...
- If this man should fall… (August 12, 2010) In the 1989 Civil War film Glory there is a poignant moment towards the end of the movie. The Union black troops are in a formation of readiness to charge up the parapet of a Confederate fort in what will be a futile attack and lead to...
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