With $5 trillion added to government debt during the past four years, and the U.S. government’s unfunded liabilities for Social Security and Medicare now at $106 trillion, the day of economic reckoning is close at hand, warn experts on the program.
They say out-of-control government growth, reckless spending, and burdensome regulation are combining to create a perfect storm of economic havoc in the very near future.
“We’re in a very fragile state of affairs, as far as the taxing and spending and we could easily go the way of some of the European countries with a debt crisis, a major debt crisis,” notes Walter Williams, John M. Olin Distinguished Professor of Economics at George Mason University.
But will Americans wake up in time to demand a course correction at both the federal and local levels? Williams isn’t sure, suggesting that in fact, “It’s going to take a real calamity to bring Americans to their senses and say this kind of spending is unsustainable.”
Chuck Bentley, CEO of Crown Financial Ministries, says, “We’re overspending as a nation and we’re overspending as a society and Christians should set the example and go the other direction.”
Genevieve Wood, a Vice President at The Heritage Foundation, says “It’s immoral to pass off to the coming generation the kind of debt we’re passing on right now.”
Wood and others on the program suggest the solutions to America’s economic problems lie in the actions that the American people will take in the coming months and beyond.
What to do? Dr. Karen Gushta, author of the documentary’s companion book by the same title, counsels a return to free enterprise and renewed attention to the U.S. Constitution, which she calls a national “building code” that, if followed, will “earthquake-proof” America. And, Gushta, says, “It’s time to move out of the moral hazard zone and restore America to a biblically based Judeo-Christian morality.”
The documentary, How Can America Survive? The Coming Economic Earthquake, will air in two parts on the Sundays of April 29 and May 6, on Truth That Transforms, the weekly television program launched by the late Dr. D. James Kennedy. Future airings on other nationwide media outlets are planned.
The website, www.HowCanAmericaSurvive.com, provides more information on the book and the documentary. Click here to view a trailer for the documentary.