America is in a state of potentially irreversible calamity. Government at almost every level in the nation is financially insolvent. The Federal Government has a $1.6 trillion 2011 budget deficit. The deficit is projected to be $1 trillion a year over the next 8 years. Federal debt now totals approximately $14 trillion. State governments are also bankrupt. California, the largest state in the union, has a current deficit of $25 billion. New York faces a $3 billion deficit. Forty-eight of the 50 states are facing massive spending reductions as a consequence of budget deficits. Major cities are also facing shortfalls. Chicago is furloughing city employees in an effort to reduce the city’s deficit.
Unemployment is skyrocketing; currently 9.4% nationwide and at its highest level since 1983, with projections exceeding 11% nationally for the next several years. The real unemployment rate, accounting for the unemployed and underemployed is approximately 17.5%. The price of gold has reached new records, at over $1,100 per ounce, as the US dollar is devalued. The dollar is now 30 cents lower than its value 10 years ago. The Democratically controlled Senate and President Obama continue to spend trillions of taxpayer dollars in the form of economic stimulus money, and banking and auto industry bailouts.
Sheet Anchor is a Christian ministry providing a Biblical perspective on American national, social, cultural, and other domestic affairs, and focused instruction in the application of the word of God to everyday living. This ministry is directed toward individuals in all stations of life including those who are confined for any reason; who are traveling extensively; who do not currently have a church home; and others who may be interested in an internet-based fellowship.