WHY Is Our Economy THAT Bad? — StandingWatch #177
Norbert Link | August 2, 2008
The U.S. budget deficit will reach $500 billion in 2009. A new law raises the nation’s debt limit to $10.6 trillion. Fannie Mae and Freddie Mac have issued $5 trillion in debt. Ford Motor Co. posted the worst quarterly performance in its history. General Motors lost $15.5 billion in the second quarter. So far, seven banks have been shut by regulators in 2008, with many more to follow. 463,000 jobs were lost so far this year. An economic recovery is not expected any time soon, if at all. WHY should this happen to the greatest nation on earth? Is GOD really pleased with how we are living today?