From the Weatherford Democrat, by David Nowak, 03/12/12 – If the only thing God expected us to do was to preach the Gospel, why did he give us a voluminous Bible, which is filed with examples, principles, and truths relating to virtually every important area of life?
If one takes only those Scriptures that deal specifically with the Gospel, he or she is going to have a very small Bible. The stories of the Old Testament, for example, were written for “our learning.” (Romans 15:4). Hebrews 11 challenges us with the examples of Old Testament men and women who were “not afraid of the king’s commandment,” who did not fear “the wrath of the king,” who “subdued kingdoms,” “waxed valiant in fight,” and who “turned flight the armies of the aliens.”
IN THIS ISSUE:
1. The Economic Recovery Remains Soft
2. What is the National Debt?
3. A Brief History of the National Debt
4. What is the National Debt Ceiling?
5. The Republicans Have No Leverage
6. What Happens When the Bond Market “Blows Up”?
As this is written, the US national debt that is subject to the “debt limit” stands at apprx. $14.27 trillion. The current statutory debt limit is $14.3 trillion. With a projected budget deficit of $1.65 trillion for this year, we are set to hit the debt ceiling sometime in the next few weeks. A battle is brewing in Washington over how much to raise the debt ceiling.
Congress has raised the debt ceiling limit many, many times before, and there is no doubt that it will be raised again… and again and again. Yet every time we face an impending increase in the debt limit, the media makes it out to be a dangerous and potentially apocalyptic battle. Nothing could be further from the truth. Continue reading →