“Tell us, when will these things be, and what will be the sign of your coming and of the end of the age?” … And Jesus answered them… “and because lawlessness will be increased, the love of many will grow cold. But the one who endures to the end will be saved.” Matthew 24:3, 12-13
Of interest, the original title for the post was in the last days lawlessness will abound but it was censored and immorality substituted.
The current generation of U.S. politicians do not blink an eye at racking up $3 trillion in debt in one year that the next generation of politicians will have to figure out how to pay off. If you truly believe that government debt matters (and it does), America and many other nations are overleveraged and way into debt with no way out. The immorality (lawlessness) of what they are doing is staggering and further evidence that we are living in the days of the “end of the age“.
Politicians used to discuss solutions for reducing or eliminating government debt. It was a conservative-virtue talking point for them. But they can’t pretend anymore… There is no conceivable way that government can continue to send taxpayers into debt at record rates without consequences to the stability of the government and severe impact on the economy. The U.S. is entering dangerous territory, and it needs to take a hard look at ways to cut spending going forward but we know this will not happen. The Coronavirus has and is escalating the problem and a massive wave of bankruptcies is coming that will put many banks into a precarious position, e.g. reports indicate that government efforts to help the private sector in the wake of state shutdowns for the economy may not have worked. Shane Shifflett of the Wall Street Journal wrote on November 17, “About 300 companies that received as much as half a billion dollars in pandemic-related government loans have filed for bankruptcy.“ So in addition to the lost economic activity, as a result of the pandemic and government shutdowns, the federal government wasted borrowed cash on an ill-conceived plan to save small businesses. There are also legendary stories of fraud in the Paycheck Protection Program. According to the New York Post, as of September, there have been 2,495 suspicious activity reports thanks to companies self-certifying that they qualified for loans. Fox Business reported that one Virginia man “lied to obtain $2.5 million in loans” that he ended up using to purchase a Cessna aircraft and a luxury car. Another report indicated that a Florida man used his loan to purchase a Lamborghini.
A lot of the information in this article was obtained from the report, The Exploding Debt Crisis… We Can No Longer Ignore This Massive National Threat, by Brian Darling, former counsel and senior communications director for Senator Rand Paul (R-KY). He is also, a seven-year veteran of The Heritage Foundation where he was a senior fellow for government studies.