“California, for instance, has an unfunded liability of its pension system of over $1.3 trillion. When you add the nearly $500 billion in outstanding bonds, state taxpayers will ultimately have to fork over nearly $2 trillion to cover the costs, which will only increase in the coming years. At the same time, Gov. Gavin Newsom is keeping much of the economy closed and is demanding millions in federal funds be given away to illegal immigrants.”
(Bryan Preston – PJ Media) Once in a lifetime, and sometimes not even that often, a crisis comes along that requires extreme measures.
We’re living through one: COVID-19. In just a few weeks it has devastated our economy. Fully 38.6 million Americans are out of work. Thousands of small businesses are going to be eliminated. The federal government is throwing money around to bail out everyone in sight, and will have to keep doing that for the foreseeable future. We are already on an unsustainable path, as I’ve repeatedly written.
One budget analysis recently estimated that the federal budget deficit for 2020 could reach $4 trillion, up from what had been estimated at $1 trillion. That’s an unthinkable amount of deficit spending. And while it may be necessary, we should be finding ways to reduce waste so we can focus all our deficit spending on COVID-19 and its economic effects. That is, after all, the unforeseen crisis we’re dealing with.
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Book Recommendation
It seems presumptuous to speak of understanding God and his ways. And yet, he has graciously revealed himself to us! It’s not an exhaustive revelation, but it is a true and sufficient revelation. God’s self-disclosure is sufficient to humble us and make us aware of our need for his grace. It’s enough to bring us to our knees, to drive us to repentance, and compel us to worship. Order here