Unsustainable Policies and Practices with Deficits, Is America On A Burning Platform?
By: James Quinn
Market OracleOct 15, 2010
David Walker, the former Comptroller of the United States from 1998 until 2008, has been warning politicians, the media, and the American public for over a decade that we are off course and headed for disaster. In August 2007, before the financial system meltdown of 2008, Mr. Walker declared:
The US government is on a “burning platform” of unsustainable policies and practices with fiscal deficits, chronic healthcare underfunding, immigration and overseas military commitments threatening a crisis if action is not taken soon. There are 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. The fiscal imbalance meant the US was on a path toward an explosion of debt. With the looming retirement of baby boomers, spiraling healthcare costs, plummeting savings rates and increasing reliance on foreign lenders, we face unprecedented fiscal risks. Current US policy on education, energy, the environment, immigration and Iraq also was on an unsustainable path. Our very prosperity is placing greater demands on our physical infrastructure. Billions of dollars will be needed to modernize everything from highways and airports to water and sewage systems. Three years have passed since Mr. Walker sounded the alarm and issued his dire warning. The National Debt in August 2007 was $8.9 trillion. Today it stands at $13.6 trillion, a 53% increase in just over 3 years. It took 205 years as a country to accumulate $4.7 trillion of debt. We’ve added $4.7 trillion in the last 38 months. It doesn’t appear that anyone in government heeded Mr. Walker’s warnings.
The Rest…HERE
I don’t have to “heed Mr. Walker’s warnings”. I have already heeded Jesus Christ’s warnings. He was thousands of years ahead of “Mr. Walker”!
“Their lies lead thea astray, Lies their fathers followed.” Amos 2:4
“Everyone loves bribes and follows after rewards.” Isaiah 1:23
“And those who earn wages, earn wages to put into a bag with holes.” Haggai 1:6
“They have stiffened their necks, that they might not hear My words.” Jeremiah 19:15
“How Babylon has become a desolation among the nations! I have laid a snare for you; You have indeed been trapped, O Babylon, And you were not aware; You have been found and also caught, Because you have contended against the Lord.” Jer 50:23,24
“Repay her according to all her work; [war, genocide, greed, theft, pornography,oppression, abortion, etc.] According to all she has done, do to her, For she has been proud against the Lord, Against the Holy One of Israel.” Jer 50:29
“For by your sorcery, all the nations were deceived.” Rev 18:23
“Arise, O Lord, Do not let man prevail; Let the nations be judged in Your sight. Put them in fear, O Lord, That the nations may know themselves to be but men.” Psalm 9:20
“Fire and brimstone and a burning wind shall be the portion of their cup.” Psalm 11:6