OpenHeaven.com






Home   |   Contact Us   |   About Us



Home


>
Forums



Active Topics



Member List



Search



Register



Log In



Help



News



Free Download
Books & Videos




Articles



Links
Kingdom Revival
House Church
Market Place




Networking



Prayer



Library



Old Reports



Audio/Video
Live Webcasts




Contact Us



About Us




NEW!
Ron's Newest Book
END OF THIS AGE
God's Intervention
on Planet Earth
Free Download
 

OpenHeaven.com
DIGEST ARCHIVE
by Article Titles
and Date


VOICE of
PROPHESY
FORUM


KINGDOM
GROWTH GUIDES

Kingdom
Prophetic
ARTICLES by
Ron McGatlin

RON'S KINGDOM
BOOKS
Free Download

Watch This
Powerful 2 min
Video

Baptized With
HOLY SPIRIT
AND FIRE

Holy Spirit
Filling/Baptism

Holy Spirit
Power
 

Deliverance
Ministry

Hearing God

Deeper
Spiritual Life

RaisingThe
Dead


Billy Graham's
Message to
America - Video

How I Escaped
the
Mormon Temple



TOP NEWS - Worldwide Kingdom/Revival NEWS
OpenHeaven.com Forum : TOP NEWS - Worldwide Kingdom/Revival NEWS
Subject Topic: Experts Warn Europe-Like Crisis around the Corner Post Reply Post New Topic
Author
Message
<< Prev Topic | Next Topic >>
News Room
Admin Group
Admin Group


Joined: 07/25/2004
Online Status: Offline
Posts: 5192
Posted: 04/25/2012 at 8:03pm | IP Logged Quote News Room

Experts Warn Europe-Like Crisis around the Corner

CBNnews.com

Video Link>

WASHINGTON -- As the days go by, the U.S. national debt steadily goes up. Since 2007, it has been increasing at a pace of $397 billion a day.

If that doesn't worry you, consider what's happening in Europe. This week, the Dutch government gave up after not being able to come up with a plan to bring down their deficit.

Some experts warn if the United States doesn't take care of business soon, America will be going down the same path.

Sen. Tom Coburn, R-Okla., author of the book The Debt Bomb , talked about how a debt crisis could soon affect ordinary Americans on "The 700 Club," April 25. Video Link>

"If we have a debt crisis, which is just around the corner, then all those programs that people organize their lives around, their retirements around, are going to be broken promises, and we're going to have severe disruption in peoples' lives," Rep. Paul Ryan, R-Wis., warned.

"That's what happens when you have a debt crisis," he continued. "That's the kind of austerity that is imposed if politicians keep kicking the can down the road, and not solving these problems, like what President Obama is doing."

Coburn agreed, saying that the nation's skyrocketing debt would "destroy the middle class."

"It will wipe out your savings and your retirement and the value of the things you plan on living off of. Your purchasing power will go down immensely," the Oklahoma lawmaker told CBN News.

"Its called financial repression and what happens is it's a sneaky way for governments to raise tax on you because they devalue the value of everything you have so youre purchasing power declines," he explained.

"If we stopped borrowing money today, by 2022 the entire budget would be made up of Medicare, Social Security, and interest. This is deadly for our future and our freedom," he warned.

How to handle the nation's debt is a signature issue in the 2012 presidential race. It's been a constant theme in stump speeches by the likely GOP nominee Mitt Romney, who's been critical President Obama's economic policy.

"We sure hope things are getting better. We sure hope the economy is getting better. There are signs that it is getting better. I sure hope it keeps getting better. And the president is going to stand up and say he deserves credit for that. No, if it gets better, it's not because of him, it's in spite of him," Romney charged.

"And so if I'm president, I will cut spending, I will cap federal spending as a percentage of the budget, and I will finally get America on track to have a balanced budget," Romney vowed.

The Obama administration, however, is pointing the finger at Congress for not controlling spending.

"Part of why it hasn't worked yet is because Republicans in Congress refuse to accept the basic premise that we need to take a balanced approach to our deficit and debt reduction," White House press secretary Jay Carney said.

Both sides agree something needs to be done, but they're far from agreeing on exactly how to do it. Meanwhile, the debt keeps rising.   

Back to Top
View News Room's Profile Search for other posts by News Room

If you wish to post a reply to this topic you must first login
If you are not already registered you must first register

  Post Reply Post New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum