Millennials are poorer than any living generation
American Millennials (born between 1981 and 1996) are in worse financial condition than any previous living generation, according to data published by the Wall Street Journal on May 19. Though they have more formal education, they are staying in school longer, making harmful personal financial choices, and taking longer to start families.
Delaying buying a home, marrying and having children, Millennials have accumulated 40 percent less net worth than their parents had in 2001, and 20 percent less than their grandparents had in 1989. The student loan debt of the average Millennial in 2017 was $10,600, more than double that of Generation X in 2004, according to economist Christopher Kurz.
The Bible discourages debt and outlaws coveting and related sins. Psalm 37:21 says, “The wicked borrows, and cannot pay back, but the righteous is generous and gives” (Revised Standard Version).
Trumpet editor in chief Gerald Flurry wrote in the April 2018 issue, “Deficit spending is not limited to America’s government. The average American citizen loves to accumulate debt just as much as his government does! We are addicted to it at every level of society.”
America five years from debt death spiral
The United States government has borrowed more than $22 trillion. Last year, it paid an astounding $324.7 billion in interest on its debt—half of what it spends on defense. New data from the U.S. Treasury Department’s Office of Debt Management, published on May 1, shows that the government is only five years away from spending every new dollar it borrows from outside investors on interest on the national debt. This is called a debt death spiral.
The report states that in 2024, all new government debt will be used to pay interest (an estimated $700 billion to $1.2 trillion per year). The government will be borrowing money to pay the interest on the money it has already borrowed. Then it will have to borrow more money to pay the interest on the money it borrowed to pay the interest on the money it borrowed. Unless the government drastically cuts spending, economic collapse is unavoidable.
God instructed the ancient nation of Israel that blessings come from obedience to His laws, and curses come from disobedience. In Deuteronomy 28, God warned if the Israelites turned away from Him, strangers would lend them money, but they would not lend to others. Today, the U.S. government owes more than $6 trillion to foreign nations, in addition to the $10 trillion it owes to domestic investors and the $6 trillion it has looted from its own Social Security Trust Fund. America’s financial predominance is about to disappear as it struggles to borrow enough money just to pay for the interest on the money it has already borrowed.
Colleges caving to leftists
Pew Research data indicates that the more college education a person has, the further left their political views become.
In the late 1960s, 43 percent of U.S. college professors self-identified as left of center. Around 2001, that number began to shoot up, increasing to 60 percent by 2016. Between 2001 and 2010, those identifying as “far left” more than doubled, according to the American Institute for Economic Research (May 1).
The result can be seen in radicalized, angry students marching or even rioting en masse. It can be seen in the places these college graduates go on to inhabit: businesses, news media, entertainment studios, law firms, legislatures, courts and political offices.
Abortion laws: Battle lines drawn
The legal battle over abortion is intensifying in American state legislatures. On May 15, Alabama’s governor signed a law that makes providing an abortion a felony in nearly all cases. Similar bills have been introduced in Louisiana, Texas and South Carolina. Other states are also increasing their protection of life in the womb. So far, Arkansas, Georgia, Kentucky, Mississippi, Missouri, Ohio and Utah have passed laws making the cutoff point for legal abortions earlier. Most of these allow abortions only before six or eight weeks, which is when existing technology can first detect the baby’s heartbeat.
Other states are moving in the opposite direction, considering bills to promote abortion until the point of birth. New York passed its law on January 22. Rhode Island and Virginia have debated similar measures. Illinois Democrats are pushing a bill that would be the nation’s most extreme, removing all abortion restrictions and expanding insurance coverage of abortion. Virginia Governor Ralph Northam supported a bill that would allow an “abortion” after a baby was delivered.
As conservatives finally push back against abortion in a meaningful way, how radical will abortionists get? The more that people acquiesce to Satan’s influence, the uglier things will get. For more on this subject, read “The Inspiring Truth Abortionists Should Know.”