Advertisement

Beliefnet News

Beliefnet News

Daily Ticker: Middle class facing austerity as U.S. government deals with debt crisis

The world is coming to the end of a 50-year debt supercycle, John Mauldin says, and the austerity required to put us back on solid financial footing will hammer ordinary Americans.

Mauldin, a financial analyst and the author of ENDGAME: The End Of The Debt Supercycle And How It Changes Everything, thinks that the the US will soon be forced to confront the fact that it has borrowed way too much in the past few decades and must severely cut back.

The U.S.’s $1.6 trillion-a-year deficit, Mauldin believes, must quickly be cut to about $300 billion a year, or the U.S. will face a debt crisis. And given that our current government can barely find ways to chop $30 billion of spending from the 2011 budget, these cuts are going to be painful.

What will the forced austerity mean for ordinary Americans?

CLICK HERE to read more

Previous Posts

Former Muslim Wants to See Change
https://www.youtube.com/watch?v=348P3ooQUPk   Author and former Muslim Ayaan Hirsi Ali spoke at the National Press Club on April 7th and said there needs to be five amendments to Islam. She said “individuals” within Islam today ...

posted 9:08:12am Apr. 10, 2015 | read full post »

Hispanics turning evangelical, Jews secular
Worship service attendance is up in New York City, but down among young adult Jews, according to recent studies. On the other hand, fewer Spanish-speaking teens are attending Catholic mass, but more are showing up at Evangelical ...

posted 3:10:30pm Nov. 05, 2013 | read full post »

Billy Graham: I know where I'm going
“Daddy thinks the Lord will allow him to live to 95,” said Franklin Graham recently. It was not a prophecy but a hope, Franklin explained, ...

posted 10:02:01am Oct. 24, 2013 | read full post »

Are All These Christians' Complaints of Persecution Just So Much Empty Whining?
The headlines are alarming: “Catholic-Owned Company Wins Religious Freedom Court Decision,” “Death Toll Rises to 65 in Boko Haram Attack on Students,” “Little Sisters Catholic Charity Victimized By Obamacare,” “Christians Sought ...

posted 2:41:26am Oct. 07, 2013 | read full post »

How can Christians defend themselves against today's random violence?
So, a crazed gunman opens fire and you’re caught in the middle. How can you survive? Heroes come in all sorts of packages. And they wield all sorts of defensive weapons. Such as guns and Jesus. Sometimes both at the same time. [caption ...

posted 2:53:48pm Sep. 27, 2013 | read full post »

Advertisement


Report as Inappropriate

You are reporting this content because it violates the Terms of Service.

All reported content is logged for investigation.