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commentary: Skyrocketing Indebtedness



Given 28-May-16; Sermon #1324c; 12 minutes

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John Ritenbaugh, observing a gigantic chasm between conservative talk radio, alternative media, and the 'official' Federal Government's portrayal of the American economy, concludes that the Obama Administration's calculations of economic indicators are not only full of equivocation and sleight of hand, but also weighed down by shameless prevarication. The rosy 5% unemployment figure touted by the government is deceitfully achieved by counting a plethora of part-time entry-level jobs, enough to provide spending money for teenagers but not enough to support a family, under-employed workers compelled to make ends meet by cutting the neighbor's grass or driving Uber taxis, and tens of thousands of unemployed people who have given up looking. Government statisticians and economists smugly count people working 30 hours a week at a minimum wage as fully employed. The real statistics, suppressed by the government-controlled media, bare the truth that only 41percent are employed, with most people skimping by, succumbing to indebtedness. Not even considering the shameful national debt amassed by the current Administration, personal indebtedness is now in the trillions of dollars: College students owe one trillion dollars in accumulated tuition debt, while millions of Americans will never fully "catch up on the credit card debt. A recent article in the Atlantic Monthly exposed the fragility of the disappearing middle class, suggesting that most Americans, because of governmental economic policy, are so cash poor that they could not scrape $400 together for an unexpected bill unless they sold something or borrowed money from a friend or relative. 47% of the American citizenry are dependents of the Federal government, which sadly, because of gross incompetency, is also cash poor. Most of our citizenry is ignorant about the causes of this demise, failing to realize that God is plaguing this nation for its blatant, calloused sin.

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