Federal Debt: The Ticking Bomb in Your Wallet

Heritage Foundation: If you don’t think the interest on the federal debt is a problem, try this quick exercise. Grab your pay stub for June and see how much you paid in federal income tax, then realize that over 75% of that was effectively your contribution to interest on the debt last month. No roads, schools, military or hospitals—just interest. Houston, we have a problem.

For the first time ever, the government spent $140 billion in a single month to service its gargantuan debt of nearly $35 trillion. By the end of this fiscal year, the Treasury will spend almost $1.2 trillion in interest alone. And the problem is getting worse.

For June, not a single line item in the Treasury’s monthly statement was larger than the $140 billion interest expense. It was larger than either the Social Security Administration ($129 billion), Department of Health and Human Services ($90 billion), Department of Education ($87 billion) or Department of Defense ($63 billion).

>>> Trump’s Record Far Superior to Biden’s on Debt and Inflation

Interest is now equal to more than three-quarters of all personal income taxes, and over 30% of all taxes and duties received by the Treasury in June. Not only is the nation drowning in debt, but now the interest payments are an anchor around its neck. Read More…

Opinion: Last week I posted this headline “We’re “Going Bankrupt, Warns Musk”. You may disagree with Elon Musk on many things, but as the wealthiest man on the planet he probably really does know something about money.

The website Musk posted on was for members only, but I found the same stats on Heritage (above), from July 19.

Don’t say we weren’t warned.

“For the Lord your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many.” Deuteronomy 15:6

I have no idea how Moses knew about money but he is the man who led 2-3 million Jews on a 40 year hike across a land with some very unfriendly inhabitants. Even then, the Edomites refused the Israelites passage over their land – but I digress.

Then we have Solomon in Proverbs 22:7

“The rich rules over the poor, And the borrower is servant to the lender.”

1 Kings 3:1-15 tells us that Solomon is the man who when given the choice of a gift from God asked for wisdom to rule over his people well.

Imagine that.

Fast forward approximately 1100 years to the Apostle John who at 90+ years old penned the Book of Revelation. John was taught by Jesus Himself that in the last days, hyperinflation would engulf the world, causing chaos.

The 3rd judgment of the Tribulation:

Revelation 6:5-6: The Black Horse Rider carries scales with which to measure the comparative value of money and food.

When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.”

A quart of wheat, representing one person’s food for the day, will cost a day’s wages. But many will be forced to buy barley, a less expensive food usually used for animals. Three quarts of barley will also cost a denarius, but only the 1% will still be able to afford the luxury of oil and wine. Affordable access to economic commerce will be strictly limited.

Here the true picture of hyperinflation emerges, that a person will be forced to work a full day to have enough money to feed themselves for one day.

This economic event can happen suddenly following war and pandemic with the collapse of a major currency. When hyperinflation grips the world, food prices will rise out of control as happened in the post-World War I Weimar Republic, and in Venezuela today.

Casting shadows:

Notice the economic chaos is caused by war and pandemics, which over the past half decade, is pretty much all we have talked about.

Revelation 6:7-8

But we have wars that are not yet global, and we had a nasty pandemic, that was not by any stretch equal to the 4th judgment called the Pale Horse.

“So I looked, and behold, a pale horse. And the name of him who sat on it was Death, and Hades followed with him. And power was given to them over a fourth of the earth, to kill with sword, with hunger, with death, and by the beasts of the earth.”

The Pale Horse will bring death to 25% of the population of the world. And that is only the 4th judgment with 17 more to come.

Do you know Jesus?

You see, He told His followers that He would keep us out of (Greek ek) the hour of trial that will come upon the whole world (Revelation 3:10).

(see our paper “The 1% and Revelation: Do not Harm the Oil and Wine” the paper is free, the consequences are expensive)