Will the U.S. government default?

U.S. lawmakers and the President have been “haggling” for months over how to deal with the current debt ceiling crisis.  Many commentators have compared the stalled arguments to children who will not give in unless the other party completely adopts their view.  If a deal is not struck by August 2, the U.S. will be unable to pay about 45% of its bills for the month of August, which could result in the nation losing its AAA bond rating (MSN Money, July 25, 2011).  The International Monetary Fund warned last weekend that because of the dollar’s world reserve currency status and the amount of U.S. bonds owned by world nations, “… a downgrade will be very damaging for both the U.S. economy and the rest of the world… But there is a lot of uncertainty; nobody really knows what would be the true effects” (CNN Money, July 25, 2011).

Many now realize that efforts to solve the debt problem will just delay an inevitable collapse unless major cuts are made, because the U.S. debt is expected to exceed the entire U.S. gross domestic product in 2012 (Telegraph, July 26, 2011).  If the government defaults, many predict major job losses in government and military sectors and rapidly rising interest rates.  Lawmakers in both political parties appear to want “their own way” and seem unwilling to work together for the benefit of the nation (Associated Press, July 24, 2011)—ignoring the biblical principle of  “submitting to one another in the fear of God” (Ephesians 5:21).

Bible prophecies contain warnings for the leaders of Israelite nations, “You eat the fat and clothe yourselves… you slaughter the fatlings, but you do not feed the flock… with force and cruelty you have ruled over them…” (Ezekiel 34:3-4).

Our dysfunctional governments of today are a result of leaders who serve themselves and their personal desires instead of working for the benefit of those whom they serve.  Jesus Christ is going to return and appoint righteous leaders who will put serving others first in the coming Kingdom of God.  The result will be true peace, stability, and prosperity for the peoples of this earth.  For more information on this exciting subject, review our free booklet, The World Ahead: What Will It Be Like?