Well, each year, there is a mismatch between spending and revenues… When our federal government spends more than it takes in, we have to borrow money to cover that annual deficit. And each year the deficit adds to our growing National Debt. Our deficits are caused mainly by our aging baby-boom generation, rising healthcare costs, and a tax system that does not bring in enough money to pay for what the government has promised its citizens… Checkout the ratio, Revenues vs. Spending: Total Revenues $3.42 Trillion Total Spending $6.55 Trillion. SOOO…you may have been asking yourself, “why is this happening in America?” We are a nation full of rich minerals, mining, agriculture, dairy, forestry, etc. to name a few… America is so much richer than other rich nations especially when it comes to minerals and agriculture and other commodities. After all, America feeds the world! America benefits greatly from its fertile soils, plentiful freshwater, oil and mineral deposits, and forests. It is a land with vast natural resources including: coal, copper, lead, uranium, molybdenum,
nickel, phosphates, silver, rare earth elements, gold, iron, tungsten, petroleum and natural gas, among others. For example: the mining industry in the U.S. is one of the most technologically advanced industries. It provides some of the safest and best technological options available. It not only strengthens the country’s economy, but it provides numerous well-paid job opportunities. Did you know that every state in the USA is actively involved in the mining sector? The total direct and indirect value of U.S. mining is $1.9 trillion dollars. American agricultural products exported around the world, sells more food and fiber to world markets, and in 2020, the top ten agriculture-producing States in terms of cash receipts were California, Iowa, Nebraska, Texas, Kansas, Minnesota, Illinois, Wisconsin, Indiana and North Carolina. Also in 2020, the U.S. produced farm commodities such as cattle, corn, soybeans, dairy products, miscellaneous crops, broilers, hogs, wheat, chicken eggs, and hay… The ERS (Economic Research Service) forecasts retail food price inflation is on the horizon, and President Biden stated as much on a trip overseas CHRISTIAN TIMES MAGAZINE ISSUE 58 | PAGE 26
