Americans can still boast that their nation’s economy is the strongest in the world. However, the strain on the financial system is sending half a million more workers each month to the unemployment lines. At that rate, by the last quarter of 2009 (if not before), perhaps one out of every 10 members of the workforce will be out of a job.

Even before this latest “stimulus” bill, how much money had the U.S. already committed to the bailout, in the hope of preventing total collapse of the economies of the U.S. and its financial partners?

Recipient	Dollars
Last spring’s Bush stimulus package	152 billion
Troubled Asset Relief Program (TARP)	700 billion
Fannie Mae and Freddie Mac	200 billion
Automobile Industry	42 billion
Bear Stearns	29 billion
AIG	150 billion
Citigroup	350 billion
Federal Housing Administration	300 billion
J.P. Morgan Chase	87 billion
Loans to banks under TAF Auction Facility	200 billion
Money Market Mutual Funds	50 billion
Various Credit Markets	500 billion
Banks in: Canada, U.K., Norway, Australia, Japan,
Sweden, Denmark, Switzerland, E.U., Brazil,
Mexico, South Korea and Singapore	740 billion
Fed purchases of asset-backed securities	500 billion
Subtotal of expenditures committed to date	4 trillion
Other Federal guarantees now in place	5+ trillion?
Grand total estimated to exceed	9+ trillion
(Source: Money and Markets, 2/16/09)

Yet, despite all the bailout and “stimulus” money that has been approved, the ailing economy continues to grow sicker by the week, as corporate earnings reports sink deeper in red ink.

Will more cash be thrown at the problem? And where will the U.S. government find all this money? Even in the best-case scenario, the national debt will grow ever larger, as Uncle Sam, hat in hand, begs investors to trust that America will be able to honor its Treasury bills and bonds. Will the government count on devalued currency to ease the pain of debt—a favorite ploy of broke sovereign nations? One way or another, Washington will need to reach deeper into the pockets of the dwindling number of U.S. citizens still blessed to be employed!

In Genesis 47:14-25, we read of Joseph’s role in saving Egypt, through which the entire nation ended up owned by the king. “Then Joseph said to the people, ‘Indeed I have bought you and your land this day for Pharaoh. Look, here is seed for you, and you shall sow the land. And it shall come to pass in the harvest that you shall give one-fifth to Pharaoh. Four-fifths shall be your own, as seed for the field and for your food, for those of your households and as food for your little ones’” (Genesis 47:23-24).

Now, as then, people who find themselves in debt, are working for others to pay off their financial obligations. “The rich rules over the poor and the borrower is servant to the lender. He who sows iniquity will reap sorrow, and the rod of his anger [the power to control others] will fail (Proverbs 22:7-8).

Under so much crushing debt, even America’s military strength will soon be broken! Who will pay and equip the armed forces when Washington runs out of money? Though many do not realize it, Scripture reveals what will happen to the U.S. and its allies at the end of this age. To find out, read our free booklet, The United States and Great Britain in Prophecy. God’s word will give you insights even today’s top economists do not have.

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