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Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece
CNSNews.com ^ | 03/09/2015 | Barbara Hollingsworth

Posted on 03/10/2015 3:11:57 PM PDT by Jan_Sobieski

(CNSNews.com) -- The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25.

“The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today. "Indeed, it may well be in worse fiscal shape than any developed country, including Greece," he said. (See Kotlikoff---Testimony-to-Senate-Budget-Committe)

In January, Fitch downgraded Greece, whose debt-to-Gross Domestic Product (GDP) ratio is 175 percent, from Stable to Negative.

“This declaration of national insolvency will, no doubt, shock those of you who use the officially reported federal debt as the measuring stick for what our country owes,” Kotlikoff told committee members who are considering President Obama’s proposed budget for Fiscal Year 2016...

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events; US: Massachusetts
KEYWORDS: 114th; alexistsipras; bankrupt; bhoeconomy; boston; bostonuniversity; congresstestimony; debt; europeanunion; greece; greececrisis; kotlikoff; laurencekotlikoff; liabilities; massachusetts; syriza; underfunded; uscrisis; usdebt
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To: Jan_Sobieski

.
>> “ We know there will be a Rapture, but we do not know when” <<

.
We know that it’ll be the event that ends Satan’s tribulation of the saints, at the last trump, just as Paul and Yeshua told us.

We know that Yehova’s wrath begins as the trib ends, and the seven bowls of wrath are poured out on The man of sin and all that took his mark.
.


61 posted on 03/10/2015 6:59:20 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Mark17; rdcbn

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>> “I don’t see how this can go on indefinitely, without something blowing wide open.” <<

.
Actually, it blew wide open two months after the dems took congress in November ‘06, and the bankers have been trying to sew the economy some new clothes ever since, with the help of the propaganda ministry (MSM).

.


62 posted on 03/10/2015 7:03:49 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Jan_Sobieski
.
The 70th week is not the trib.

The last half of the 70th week is the trib.

As Paul said, it cannot come until the man of sin is revealed.

(2Thes 2:3 “Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed, the son of perdition;” )

63 posted on 03/10/2015 7:14:29 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: cuban leaf

” in a blink”

Brings to heart ....”in a blink of an eye, caught up to be with the Lord forever.”


64 posted on 03/10/2015 7:18:24 PM PDT by Varsity Flight (Extortion-Care is is the Government Work-Camp: Arbeitsziehungslager)
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To: editor-surveyor
Actually, it blew wide open two months after the dems took congress in November ‘06, and the bankers have been trying to sew the economy some new clothes ever since, with the help of the propaganda ministry (MSM).

It hasn't blown the way I expected. I expect a complete collapse, where everything comes to a complete halt. I am pretty sure the economy collapsed in Germany after WW1. I seem to remember the economy's of Mexico and Argentina collapsed in years past. I think the Great Depression caused some real hate and discontent in the world too.

65 posted on 03/10/2015 7:20:03 PM PDT by Mark17 (Calvary's love has never faltered, all it's wonder still remains. Souls still take eternal passage)
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To: Mark17

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The collapse will come in bits as they struggle to maintain the sham.

When neither Europe nor the US are able to respond monetarily, the IMF will step in with SDRs and all other fiat currency will make confederate money look strong.

That is when Yehova will take his bride to the “place in the desert.”
.


66 posted on 03/10/2015 7:26:20 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: cuban leaf

“That is the reason for the minimum wage increase push. They need to monetize the debt. And increasing wages (all wages will be affected and some union contracts are tied to it) will increase spending. More money chasing the same goods means price inflation.”

And why cashing out of their pension heavy weighted stock market into 30K plus vehicles, and 0% financing, and 20K houses going for 500K plus.


67 posted on 03/10/2015 7:30:51 PM PDT by Varsity Flight (Extortion-Care is is the Government Work-Camp: Arbeitsziehungslager)
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To: editor-surveyor

Up until 1830, Christians thought that Daniel’s 70 weeks prophecy had been fulfilled. John Nelson Darby gave us the Gap Theory.
But I do agree with you: the tribulation is 3 1/2 years and most of us will be martyred. If we don’t fall away.


68 posted on 03/10/2015 7:32:27 PM PDT by SisterK (its a spiritual war)
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To: editor-surveyor

I just learned that not only are there two lunar eclipses on high holidays this year (blood red moons), but there are also two solar eclipses on high holidays - March 20 the Jewish New Year, and September 13th the Feast of Tabernacles and also the 29th of Elul (Harbinger fame). But that means nothing. Absolutely nothing. Just fun coincidences.


69 posted on 03/10/2015 7:40:03 PM PDT by SisterK (its a spiritual war)
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To: Jan_Sobieski

I’ll be OUTTA HERE by the time Revelation 6 comes around ... :-) ...


70 posted on 03/10/2015 8:38:49 PM PDT by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Sergio

Thank you! ;-)

I was a photo hobbyist in the 70’s and 80’s and lost interest in it, but got it back around 2005.

And you’ve probably heard that the best camera is the one you have on you. The advent of good cameras in cell phones has totally changed my photography. My LG G3 has drastically reduced my use of my 4/3 camera.


71 posted on 03/10/2015 8:40:21 PM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: dforest

I can see you are proud of it!


The only place I’ve ever lived that I was “Proud of” is this place. I call it the garden of eden, but with more chiggers.


72 posted on 03/10/2015 8:42:06 PM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: Calpublican

I fear those who have planned ahead will be victimized by those who haven’t.


My faith is actually in the Lord, not this place, though we believe our coming here and the events that led to it were a “God thing”.

Life is a mist.


73 posted on 03/10/2015 8:43:54 PM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: SisterK

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Those that “watch” will not be martyred. Yeshua promised in Revelation 3:10 that they would be taken through “the hour of temptation.”

In Revelation 3:3, he warns those that will not “watch” that he will come as a thief for them.

Darby gave us confusion that will cost many their chance at eternal life.
.


74 posted on 03/10/2015 8:47:14 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: SisterK

.
Since Passover, and Tabernacles always come at the full moon, eclipses are always a possibility, but they are not the “Blood Moon” of prophecy.

The Biblical new year will begin at sundown, March 21 this year. (the first day of the month of the Aviv Barley)


75 posted on 03/10/2015 8:58:38 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: Jan_Sobieski

Bkmk


76 posted on 03/11/2015 1:28:36 AM PDT by AllAmericanGirl44
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To: editor-surveyor

Agreed. Darby has really mislead folks.
Without a Bible in front of me, is Revelation 3:3 in the letter to the Church of Philadelphia? I am lately thinking that there will be an end time remnant who will be like Daniel’s three friends, walking through the fiery furnace (tribulation) but coming out not smelling like smoke.
BTW I appreciate your responses as you seem to have an uncorrupted understanding of the Word.


77 posted on 03/11/2015 5:03:58 AM PDT by SisterK (its a spiritual war)
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To: SisterK; editor-surveyor

oops 3:10 not 3:3
correction to my post


78 posted on 03/11/2015 5:07:45 AM PDT by SisterK (its a spiritual war)
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To: Mark17

Because the Bible also talks the great delusion of the world. They will have eyes, but do not see.

The meltdown is several years away, America is no where near meltdown mode yet. We’re going to limp along for quite a while yet as other parts of the world go into fiscal meltdown.

We do not have enough social upheaval yet nor have enough fallen away from God. A lot of death and persecution will come to us before Jesus come back to judge the world.

I continue wait for Damascus to fall and then the Dome of the Rock to be destroyed...and a temple built on that axis mundi.

God tells us not to worry of these things, we are to pray and we are not to worry about what to say in the days of persecution for He will give us the words to say...and finally our redemption will come.

The lion faced eagle must have its wings plucked. America looms to large on the world stage. But, that is changing under 0bama’s foreign policy. Just this week Iraq gave great thanks to Iran for enjoining the Iraqis in the battle against ISIS. And opening Iran’s doors not only to soldiers, but to ANY weapons they have.


79 posted on 03/11/2015 5:23:05 AM PDT by EBH (And the angel poured out his cup...)
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To: editor-surveyor

Combined with the fullness of the dreams of one of your would be prophets?

You’re really full of something that isn’t godly. A wannabe Jew.


80 posted on 03/11/2015 7:07:16 AM PDT by HiTech RedNeck (Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
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