America just crossed the $16,000,000,000,000 national debt threshold. Annual interest on this debt will total more than $240,000,000,000.
According to the Census Bureau there are some117,538,000 US households. The current debt equals about $136,260 per household.
Projections for 2016 place our national debt at more than $20 Trillion. Unless America takes decisive steps to reverse this trend our nations future could be very bleak.
Insightful economists have looked beyond the horizon and revealed one of the dirty little secrets that is rarely mentioned and seldom discussed; our Nation's future debt liabilities, including our current $16 trillion national debt, plus current and future Social Security, Medicare, and Medicaid obligations stand at more than 100 Trillion dollars as of September 4, 2012! In addition, five American banks account for more than 96% of the $250 Trillion US derivative exposure.
Proverbs 22:7 states: "The rich rule over the poor, and the borrower is servant to the lender." Any person or nation that lives under oppressive debt is enslaved to his lenders.
Christian Retirement has watched the national debt clock for many years. It is no accident that we advocate financial freedom by following and advocating that people, families, states, and nations follow a simple biblical formula: become debt free, live within one's means, and live without debt. God warns us against personal and national debt that serves only to enslave those who choose to participate.
The threat of oppressive debt could literally bring America to her financial knees and possible bankruptcy. America's out-of-control spending and out-of-control borrowing, (43 cents of every dollar spent,) must come to an end.
One of the largest threats to our sovereignty as a nation, and to your present or future retirement, is our exponentially rising national debt. Along with an exploding national debt will necessarily come: inflation, restricted financial freedom, devaluation of your retirement dollars through the Federal Reserve's Quantitative Easing I, II, and now, QE III, reduced retirement benefits, and an array of other negative results.
Be judicious with your retirement funds and contact your congress person and encourage them to stop the out-of-control borrowing and spending.