Ostrich economics means burying our head and waiting in denial.
When President Bill Clinton left office in 2000, the U.S. national debt was 4 trillion dollars.
When President George Bush left office in 2008, the national debt was 8 trillion dollars. When President Barack Obama left office in 2016, the national debt was 15 trillion dollars.
In Donald Trump’s presidency prior to the pandemic, the national debt was 20 trillion dollars.
During the pandemic starting in March, 2020 the national debt rose that year to 27 trillion dollars.
During the pandemic year of 2021 it is estimated the national debt will rise to 34 trillion dollars.
Economists estimate at the end of the year 2022, the national debt will rise to 40 trillion dollars, double our debt of 2,019 and 10 times our debt of 2000. In monetary figures, that would be $40,000,000,000.
This is much more than was the post war experience of Nazi Germany in the 1920’s that re sulted in the election of Adolph Hitler, who brought forced austerity on the German people and World War Two.
We can no longer bury our heads with the oyster economic theorists.
In 1987, the Federal Reserve took an active role in assuming the responsibility of backing up whatever amounts the U.S. Treasury and our politicians wanted by simply printing money and selling certificates.
If debts occur, don’t worry, pass it on to our children and grandchildren.
Reminder: We are preparing for the return of King Jesus.