Excuse me? We are already in a huge financial crisis. When the Chinese are calling the shots on what is arguably American Domestic policy - what's next? Our Iran policy? (Oh excuse me, they already torpedoed our attempt to rein in Iran's nuclear program. They get 20% of their oil from Iran. Sorry! I forgot!). How about Taiwan?
Recognizing the fact that, as the Bible says: "The borrower is a slave to the lender," that means our crisis is a lot more fundamental than just financial. We have practically sold ourselves to the Chinese and others (who don't love us, btw).
We have not even begun to pay the Chinese in the coin they will demand.
And the truly sad thing is that we are suffering from self-inflicted wounds.
Here are a few charts to show what is happening to the dollar, and how long it has been happening. This debt is not something that jumped up over night.
Do you see where most of the money is going? Not one cent of that largest category is being spent according to the US Constitution. A good deal of the "Other" category would probably not stand the constitutional light of day either. Just think what our country would look like after the unconstitutional "air" were to be let out of this balloon.
What could you do with all the money left in your pocket? (Assuming you are one of those actually earning a living, versus those who are on the "dole", taking what is not theirs? Those folks better plan on working for a living again.)
Oh, by the way, our tax receipts fall short of funding this huge ball of spending. Look at the chart below to see where that deficit spenging is taking us.
Do you notice anything unsettling about this curve? It seems to be getting higher and higher, faster and faster. Does that maybe hint that it is going bust sometime soon? Any signs of letup, or is it getting worse?
Our crisis is moral. And only a moral renewal will fix our situation.
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