T. D. Jakes Quotes
We have gotten so nuanced into social issues that we fail to understand that China is buying up America, we have fallen into debt in such a pervasive way that social security is compromised, we are living longer than we lived before and in order to secure the kind of healthcare that we need without the deficits on our budget, we need really strong leadership that is focused only on the plethora of issues and not just the traditional concerns that have driven us to the ballot box.
At the time, the George W. Bush Administration policy was to have the United States running a very large trade and budget deficit—the largest in the history of the world. In order to finance the deficit, the U. S. Government had to borrow money and it did so by selling bonds and other financial instruments. Many of these were purchased by Asians, but Paul’s point was that they were “propping up” American spending habits and might not continue to do so.
Unmindful of the steady economic prosperity during the 1920s in America, Comintern “assured” American Communists that the economic growth was about to make an abrupt U-turn.
Greece, as a Euro member of the European Union, was able to borrow large amounts of money. However, most of it disappeared as the result of massive corruption and huge waste. The Greek government, to mask the facts, produced false economic reports to the European Union and other lenders. When this was discovered, no one was willing to lend money to Greece until there were major reforms.
With entitlement programs, Congress and the Administration have very little control over the annual expenditures because once someone is legally entitled to a benefit, the government must pay it. It is not a matter of discretion but an obligation.
The United States has an unusual set of laws with respect to paying the nation’s bills. Congress must vote for the budget which authorizes and triggers the buying and spending. Then when it comes to paying for what has been bought, Congress must vote again to raise the debt ceiling so the national can pay for what Congress has already directed to be bought. Congress, in 2012 and 2013, voted to spend the money and then balked at authorizing the administration to borrow the money to pay the bills.
Thomas Dexter Jakes Sr., known as T. D. Jakes, is an American bishop, author and filmmaker. He is the bishop of The Potter's House, a non-denominational American megachurch. Jakes's church services and evangelistic sermons are broadcast on The Potter's Touch.
