OUT OF CONTROL
“Moody’s is one of three major credit agencies and the third to give the US Government a downgrade in credit worthiness. They said, “The US is letting its debt get out of control.
“Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs” over the past decade, Moody’s said.
Here’s what they’re talking about:
The US government paid over $1.1 trillion in interest on its debt last year, Bloomberg Opinion noted. That’s more than the Pentagon’s entire budget.
Moody’s is concerned that the US won’t generate enough tax revenue to cover interest on its debt, meaning it would have to borrow money just to pay interest on…the money it already borrowed.” (Morning Brew)
The US National Debt is $36.21trillion dollars (May 2025) and that does seem a little Out of Control. That’s about $106,000.00 for every USA citizen.
A comparison might be a person with a $10,000 credit card debt. ‘According to Lending Tree the average credit card interest rate in the United States is 24.59%. To make a minimum 1% of debt payment of the balance plus interest, it would take 29.5 years or 354 months to pay off $10,000 in credit card debt making only minimum payments. You would pay a total of $19,332.21 in interest over that period.’
The average American is $6,000 -10,000 in credit card debt.
Buy Now… Pay Later is scary business.
None of this is the Kingdom way. It is another way.
I’m headed over to the other side of the Pond to have some Cuban Coffee and Apricot Thumbprint Cookies and think of my emotional debt, forgiveness debt, anger debt, giving debt, revenge debt and all the interest I owe. Have mercy, Lord.
“A man loaned money to two people—500 pieces of silver to one and 50 pieces to the other. But neither of them could repay him, so he kindly forgave them both, canceling their debts. Who do you suppose loved him more after that?” Simon answered, “I suppose the one for whom he canceled the larger debt.” “That’s right.” Jesus