The scenes from the border are unbelievable.  Here they come.  It was bad before, but now it’s even worse.  It’s not like a one time arrival of some group, it’s thousands of people waiting to be signed up for a court date two years out.  Who can stand to watch?  When, in world history, has any nation agreed to such a thing?  Reports come only once or twice a day, but this travesty goes on around the clock.  The pretender says it’s Trump’s fault.  Texas Governor Abbot has declared an invasion, for all the good it will do.  Even talking about the situation at the border is terribly depressing. 

Zelensky appeared at the United Nations this week.  Why, you ask?  To lecture us about global warming?  He’s fixing to start WWIII at our expense and he thinks we’re going to listen to him blather on about global warming?  Something about this whole Ukraine war thing doesn’t make sense.  Why are we contributing many times what the Europeans are?  And they want planes.  Everything we’ve got, military wise, Zelensky needs.  Does somebody think Ukraine is going to defeat Russia?  

He may have queered the whole deal.  It seems he’s irritated his benefactors in Poland, which had contributed money and arms.  Now Zelensky is suing them over a grain deal?  That might be a mistake.  

We knew when we saw the first example of a flash mob that there was going to be trouble.  Now they’re flash-mobbing department stores, high end stores, and stealing everything whether it’s locked down or not.  In some places stores are having to leave their expensive real estate and close.  It’s a trend.  The downtown districts of America are becoming dangerous, if they weren’t already. Big name merchandisers can’t make a go of it if their luxury items are walking out the door.  The thieves always get away.  Social justice, you know.

I don’t know how, but everyone seems to think the pretender is going to run for a second term.  They better cheat even better than last time.  They better hope they don’t win.  They’ve already put the U. S. in a downward spiral, economically and internationally.  With the national debt now at something like 32 trillion, and spending money that doesn’t exist on global warming and the war in Ukraine, it makes you wonder what’s next?  It’s like those in power are in a race to destroy everything.  The Constitution can just take a back seat, they’ve got problems to solve.  At our expense.

We’re going to leave to go to the Feast of Tabernacles next week. The day of Atonement, an annual High Day, begins at sundown Sunday night and we will be conducting a service on Monday.  We have Feast of Tabernacles sites in several wonderful locations and we are looking forward to the celebration of the time when we won’t have to worry about thievery and destruction. We won’t have to worry that we’re being spent into oblivion. It’s a wonderful break when God’s people get together, away from the nonsense. But some of us will still be paying attention. Have a great Feast! 

Mark

The post Weekly Update by Mark Armstrong – September 22, 2023 first appeared on Garner Ted Armstrong Evangelistic Association.

Sure hope the pretender doesn’t get in more trouble.  Every time he or his reprobate son gets bad news, they indict Trump for something else.  Except this isn’t something else.  Don’t hold me to it, but chances are the powers that be are going to be sorry they ever dreamed this up.  Having heard the logic behind the latest indictment, it’s the same ole, same ole.  The brilliant legal strategy the “special council” has come up with ends up with Trump denying voters their rightful vote.  What?

It’s very inventive the way they’ve structured the argument.  Whether it dies a very public and embarrassing death remains to be seen.  Laurence Tribe (respected lawyer) said it was brilliant the way Jack Smith had tailored the charges.  When I heard the upshot, I almost laughed out loud.  So, Trump “conspired” to make people’s lawful votes not count?  This is going to be great!

A risky peek at CNN, and they’re back to a panel that fills the screen.  The pretender (big guy) is in more trouble than ever, but they’re full of dark suspicions on the panels.  Why, Trump tried to overthrow the elections!  TV time is burnt like it’s worthless, speculations about how Trump committed treason.  They better be careful what they ask for, they’re liable to find themselves in the spotlight.  Trump says he’s only one indictment away from winning the next election.  At least he’s got a sense of humor, unlike all the talking heads.  

American policies have been sold.  We know the parameters, but the media is still in the dark.  They pretend not to understand what the rest of us know.  If the pretender was smart, he’d resign.  Due to medical complications, of course.  But Dr. Jill probably won’t give up the perks.  So we’ll all have to suffer more of this.  

The war in Ukraine better have nothing to do with Biden shenanigans.  Why is it that the U. S. is spending many times what the Europeans are, and it’s on their doorstep.  Meanwhile, the Ukranian prosecutor that Biden got fired says there was an attempt on his life.  They’re calling him names on the liberal sites, and saying his claim is preposterous.  We may never know.  You can read about it, the liberal outlets said he’s just in bad health and had an episode.  But there are medical claims that he was suffering from mercury poisoning.  Seems like this happened once-

You probably heard, the ratings agencies have downgraded U. S. debt, again.  Now we’re two stages below optimum.  Is our paper currency going to become worth less?  It already is, especially at the gas station.  The question is whether or not the value of the dollar will crash, hard.  So, who is purchasing U. S. debt?  The Federal Reserve, and…  

America is spending money on foolishness, and adding it to the national debt.  Surely the next couple of generations will understand.  We get the global warming nonsense from every car maker, as if we’re all going to buy battery cars.  They’ve lost millions for the manufacturers, and ships carrying electric cars keep burning down with high-end cars on board.  Gas burners.  The car companies may have to be bailed out again, but this time on account of doing the government’s bidding.  No doubt everyone will be made whole.  Just add it to the debt. 

I guess we’ve learned the hard way, they’ll tell us anything.  Nothing is off limits.  It’s hard to say whether the U. S. will survive in the long run.  The people who have circled the wagons around the pretender hate this country.  Can the United States succeed and prosper when we have leaders that hate everything we stand for?  Or are we being punished for all the nonsense by rotten individuals that have been allowed to take us down?  The Lord works in mysterious ways.         

Mark

The post Weekly Update by Mark Armstrong – August 4, 2023 first appeared on Garner Ted Armstrong Evangelistic Association.

But as unfathomable as this number is, the national debt can impact ordinary Americans’ lives.

Daniel Rodriguez, COO at Hill Wealth Strategies, says that if the government wants to maintain the same level of benefits and services to Americans and its international allies without running up both the deficit and the national debt, more revenue will be required.

“The only way to get more revenue is to increase taxes on the American people or reduce spending,” he says. “The government may choose to reduce spending on things like infrastructure, social safety nets, first responders, and education. Those programs have direct impacts on Americans’ day-to-day lives.”

Here’s what the national debt is, the factors responsible for making it rise and fall and how it can impact your life.

What Is the National Debt?
Just like the debt you have is a figure that represents how much you owe your creditors, the national debt represents how much the United States government owes its creditors.

When the U.S. government spends more money than the revenues it brings in each year, it creates an imbalance called a budget deficit. The government must then borrow money to cover its expenses.

It’s more common than not for the government to run a deficit, regardless of which party is in charge. In fact, the government has run a deficit for 77 of the past 90 years and first carried debt after the Revolutionary War in 1790.

How Could the National Debt Impact Consumers?
Congress is responsible for ensuring the government stays funded, but you might still be curious about the national debt and how it relates to the federal deficit.

Here are six ways the rising national debt could potentially impact Americans.

1. Higher Interest Rates
When the government needs to borrow more, they’ll need to increase yields on Treasury bills, I Bonds and other fixed-income instruments to make those investments attractive to investors. And while this can translate into higher yields on savings accounts, it also means higher mortgage rates, making the housing market unaffordable to some Americans. Consumers will likely pay more in interest on their credit cards and other loans as well, since those interest rates rise when the Fed raises interest rates, too.

2. Higher Product Prices
While America’s grappling with paying more at the grocery store, the national debt at current levels could cause inflationary trends to continue.

Increased Treasury yields could make American businesses appear to be riskier investments abroad, which could force companies to raise yields on new bonds to make them attractive investments. The more companies have to pay to keep their debts in good standing, the more pressure to increase product prices. Higher product prices mean higher revenues, which is how companies can pay their debt obligations.

3. Lower Home Prices
As interest rates go up, Americans will likely qualify to borrow less since more of their payment each month goes to interest and less toward principal. Thus, buyers won’t be able to afford as many homes as they would when interest rates are lower. This will place downward pressure on home prices, which can impact the equity of all homeowners.

4. Less to Spend on Other Government Initiatives
The more money the U.S. has to spend on meeting its debt obligations as interest rates increase, the less financial capacity it could have to fund programs focused on education, veterans benefits and transportation.

This breakdown of the 2019 Federal Budget from the Council on Foreign Relations shows how the budget pie is only so big, so when one area increases (like interest payments), another must decrease.

5. National Security Issues
The higher the national debt becomes, the more the U.S. is seen as a global credit risk. This could impact the U.S.’s ability to borrow money in times of increased global pressure and put us at risk for not being able to meet our obligations to our allies—especially in wartime. This could negatively impact the U.S.’s position as a global political, economic and social power.

6. Lower Returns on Your Investments
Bonds issued by the Treasury are typically seen as low-risk investments. When interest rates rise, the yield on these low-risk investments also rises, making them more attractive investments for income-minded investors over other riskier income-generating investments like corporate bonds.

This could leave companies that typically rely on bonds short on the loans they need to finance expansions and operations and translate into lower returns for equity investors when companies fail to meet revenue targets.

What Causes the National Debt to Increase?
Sometimes the government needs to increase spending to stabilize the economy, and protect Americans and businesses from unexpected economic conditions.

During The Great Recession (Dec. 2007 to Jun. 2009), for example, Congress passed legislation injecting $1.8 trillion into the economy. But that pales in comparison to the $4.5 trillion the Trump and Biden administrations have pumped into the economy since the Covid pandemic began in March 2020.

However, there are other reasons the national debt increases, even during years where spending is moderate and the economy is in good shape.

Tax Cuts
On one hand, tax cuts can stimulate the economy and put more money in Americans’ bank accounts every payday. But those same tax cuts mean the federal government brings in less revenue across the board.

For example, the Tax Cuts and Jobs Act of 2017 slashed taxes for individual and corporate payers, but created a $275 billion shortfall in revenue even though the economy grew. The Act caused revenue from corporate taxes to decrease by $135 billion, a 40% reduction from projected revenue.

Rising Healthcare Costs
According to data from the nonpartisan Peter G. Peterson Foundation, per capita healthcare spending in the U.S. is three times higher than in comparable developed nations like the United Kingdom and France. As America’s population ages, more people enroll in Medicare—and older Americans typically require more care. This translates to the federal budget bearing the burden for rising healthcare costs.

Interest Costs
If you’ve ever had a car loan or mortgage, you’re familiar with how much of your payment each month goes toward interest. The same is true of the federal government’s debts. As the national debt rises, the government will pay more interest to keep those debts in good standing.

Using data from the Congressional Budget Office and the Office of Management and Budget, the Peter G. Peterson Foundation estimates that the government will pay a staggering $5.4 trillion in interest over the next 10 years.

Who’s Responsible for the Current National Debt?
In short? Pretty much every administration.

“Regardless of political affiliation, parties in power have run up the deficit through higher spending and lower revenue collection,” says Brian Rehling, head of Global Fixed Income Strategy at Wells Fargo Investment Institute.

While it’s easy to say a particular president or president’s administration caused the federal deficit and national debt to move a certain direction, it’s important to note that only Congress can authorize the type of legislation with the most impact on both figures.

Here’s a look at how Congress acted during four notable presidential administrations and how their actions impacted both the deficit and national debt.

Franklin D. Roosevelt
As the nation’s last four-term president, FDR helped Americans weather an abundance of economic crises. His presidency spanned The Great Depression and his signature New Deal economic recovery package helped lift America out of financial rock bottom. But the most significant increase to the national debt was the cost of World War II, which added roughly $186 billion to the national debt between 1942 and 1945. Congress added $236 billion to the national debt during FDR’s terms, representing an increase of 1,048%.

Ronald Reagan
During Reagan’s two terms, Congress enacted two historic tax cuts that decreased government revenue: the Economic Recovery Tax Act of 1981 and the Tax Reform Act of 1986. These Acts passed by Congress decreased revenue as a percent of the GDP by 1.7% between 1982 and 1990, creating a revenue shortfall that contributed to the national debt increasing 261% ($1.26 trillion) during his administration, from $924.6 billion to $2.19 trillion.

Barack Obama
Over two terms, the Obama administration oversaw both The Great Recession due to the collapse of the mortgage market and the ensuing recovery. In 2009, Congress passed the Economic Stimulus Act, which helped countless Americans save their homes from foreclosure, pumping $831 billion into the economy. Congressional tax cuts accounted for another $858 billion added to the national debt when passed by a strong bipartisan showing. All in all, Congressional action increased the national deficit by 74 percent and added $8.6 trillion to the national debt during Obama’s two terms.

Donald Trump
During his single term, Congress passed the Tax Cuts and Jobs Act in 2017, which slashed corporate and personal income tax rates. Considered by many a boon for the wealthiest Americans and corporations, at the time of its passage, the Congressional Budget Office estimated the cuts would increase the federal deficit by $1.9 trillion.

While the Treasury Secretary estimated that the tax cuts would decrease the federal deficit, the deficit increased from $665 billion in 2017 to $3.13 trillion in 2020. The tax cuts drove some of this increase but multiple Covid relief packages were responsible for the majority of the increase.

The federal debt held by the public increased from $14.6 trillion in 2017 to over $21 trillion in 2020. Public debt and intragovernmental debt (the amount owed to federal retirement trust funds like the Social Security Trust Fund) make up the national debt. It’s the amount of money the U.S. owes to outside debtors such as U.S. banks and investors, businesses, individuals, state and local governments, Federal Reserve and foreign governments and international investors like Japan and China. The money is borrowed to raise the cash needed to keep the U.S. operating. It includes Treasury bills, notes, and bonds. Other holders of public debt include Treasury Inflation-Protected Securities (TIPS), U.S. savings bonds and state and local government series securities.

“The national debt continues to grow as it has not for decades,” says James Cassel, chairman and co-founder of investment bank Cassel Salpeter. “This is the result of this simple concept of spending more money than you have in revenue.” Cassel also mentions that both major political parties have, at times, spoken seriously about a commitment to reduce the national debt yet conversations and strategy remain stalled.

However, the national debt is more commonly used as a bargaining chip when both parties posture about raising the debt ceiling each year. Without raising the debt ceiling, the U.S. would default on its debt obligations. Thus, Congress always votes to raise the debt ceiling (how much money the U.S. government can borrow), but not before parties negotiate on other legislation.

Read more: The Debt Ceiling Fight Could Bruise Your Finances. Here’s How.

Are We Helpless When It Comes to the National Debt?
In some ways, yes. But there are actions you can take to mitigate the effect of the national debt on your life.

Pay your taxes: According to the IRS, the federal government loses $1 trillion each year due to unpaid taxes.

Put pressure on your Congressional reps: Call or write to your Representatives and Senators in support of tax code reform, increased funding for the IRS to track down tax cheats and closing loopholes that give the country’s most profitable companies tax bills that are lower than most Americans.

Follow your reps’ voting history: If you’re curious how your Representatives and Senators have voted on fiscal policy issues, that’s easy to check. You can use voting history to back up your concerns when writing or calling your reps.

Learn about healthcare reform: While national healthcare remains a contentious topic, it could pay to learn how other countries control healthcare costs and how those policies could benefit you, your neighbors and the impact rising healthcare costs has on the national debt.

Rehling from Wells Fargo Investment Institute says that while the national debt has increased substantially over the past decade, the U.S. isn’t unique in this regard. The rest of the developed world has seen similar trends.

“While these budget trends are unsustainable over the long run, there is no indication that current debt levels are overly worrisome,” he says.

Ed. note: This article has been corrected to more accurately reflect the U.S. national debt increased numbers.

Source: US Debt Clock

Source: https://www.forbes.com/advisor/personal-finance/u-s-national-debt-surpasses-30-trillion-what-this-means-for-you/

The post U.S. National Debt Surpasses $30 Trillion: What This Means For You first appeared on Garner Ted Armstrong Evangelistic Association.

They can’t seem to get Brexit done.   Britain is having a mighty hard time leaving the European Union.   The sticking point seems to be the Irish “backstop.”   Any Brexit deal with the EU would require a closure of the Irish border, likely prompting the IRA to resume its campaign of bombings and terror attacks in “protest.” Prime Minister Theresa May just lost another vote to conclude the British exit, and the whole thing is up in the air once again. As it stands, if March 29 rolls around and there is still no vote for a “deal” in the British Parliament then a hard exit would take place without trade and immigration agreements with the EU as to how business will proceed.   Britain is already making side agreements with individual European nations, and probably should tell the EU where to get off.

We’ve got a mess here too, and it is equally convoluted.   The President invoked a national emergency this morning, because Congress would not fund a border wall that was one of Trump’s primary campaign promises, perhaps the one most responsible for his victory.   The news media is in lock-step with the President’s opponents in government declaring that there is no crisis at the Southern border.   Now it’s off to the courts.

In fact, there has been a border crisis for decades.   A casual stop at any public place in any city in Texas is enough to convince you that the damage is largely done.   Never mind the crime statistics showing that hundreds of thousands of crimes have been committed by illegal aliens in Texas alone.   Try stopping at McDonalds for something to eat on “the good side” of town on the outskirts of Dallas, as I did with family yesterday.   For most of the time, we were the only English speaking people there.   Mind you, the “immigrants” haven’t been starving.   And they’ve got kids. Lots of them. The crisis has been going on for decades but if you notice that nobody speaks the language, you must be a racist.   You don’t suppose these people help choose our leadership?   Nothing against Hispanic people, but this place is no longer anything close to the country we knew. These swarming immigrants are foreigners, period.

Expect now that there will be angry wailing over the declaration of national emergency. Somehow some 30 such emergencies have been declared since 1977 and this is the one that is a bald outrage, media wide.   Most previous national emergencies dealt with foreign entities and military foes, and went by almost without notice.   Obama invoked them over such things as the tainted water in Flint, Michigan and swine flu. The current one is about infrastructure to keep millions from simply walking into the United States across the Southern border. The problem is that we’ve already got some 22,000,000 (if you can even conceive of that many) and untold tens of thousands more who plan to simply come on in.   If this President can’t get a handle on it this flood will overtake every generation to follow.

The real outrage is that another “budget” is being signed into law.   It funds the gargantuan bureaucracy and all the social “safety net” programs. The military is being beefed up with hundreds of billions in spending.   Our resources and massive debt spending are being used for the needs and protections of nations all around the world.   But America’s Southern border?   That, they tell us, would be immoral and racist to worry about.   It looks as if that battle was lost a long time ago.   The cartels apparently control the Southern border, and Congress is determined that it remain so.

America carries a $22 Trillion debt, run up at least another trillion this year.   President Trump believes that increased productivity and the roaring economy will prevent disaster. Let’s hope he’s right.

If you suspected all those parading priests at the Vatican were a little light in the slippers, you were right.   A new book by a French author claims that eighty percent of Vatican priests are homos. But the priests claim this has nothing to do with all the children (little boys) being abused by Catholic priests all over the world.   No, they’ve taken a vow of celibacy.   So the priests say, neither has anything to do with the other.   Figure that one out, Mr. gay-friendly pope.

It looks like several of the instigators of Russia, Russia, Russia, can’t get their stories straight.  If the new Attorney General, just approved and sworn in, is going to make a good faith effort at doing his job things might get entertaining.   Not that it will save western civilization, but it would be good to see the perpetrators of the attempted silent coup get exposed.   Even better if the queer TV anchors have to eat the last two years of their nightly coverage. They’re whistling in the dark, pretending that their two year “collusion” narrative still has merit. Time is running out, thankfully. Another blessed Sabbath has arrived, and none too soon.   Have a great one, knowing that Almighty God knows all and will in His time institute righteous governance on earth.

Mark

Source: http://www.intercontinentalcog.org/fridayupdates.php

The post Weekly Update by Mark Armstrong – 15 February 2019 first appeared on Garner Ted Armstrong Evangelistic Association.