US state governments’ debts soar; The hearts of the people all begin to weaken and to fail because of what is going on and what they see is coming!

GREETINGS,

    ” Their head is going to and fro to the nations of the earth to find a way of peace between the heads of the nations. “A Great Time! A Troublesome Time! A Terrible Time!”

 The hearts of the people all begin to weaken and to fail because of what is going on and what they see is coming!

 America and her people have lived so rich and so joyfully in wickedness, murder, robbery and hatred of one another until it has hardened their hearts so much they are made to think that they can make friends and live on with those upon whom they had no mercy.

 They crushed all the weak nations of the earth with their power and brought them into the clutches of slavery. They forced other nations to bow. They pushed their borders around the earth as Nebuchadnezzar did in his days and time.

 But, in those days, Nebuchadnezzar boasted — and think over it, England made the same boast. England used to boast that the sun did not set on her empire. Take a look at England, today. There is no British Empire for the sun or moon to set on!”–pgs.192&193(THE FALL OF AMERICA)

American states have taken drastic measures, bracing for more cuts, layoffs, and tax increases as they collectively owe trillions of dollars in debt.

Some of the measures include releasing the prisoners early or laying off police officers. Some analysts, though, believe the root of the problem is that government employees have traditionally been overpaid.

States now do not have enough money to pay for pensions and will be forced to renegotiate retirement benefits of government workers.

“Unless they can renegotiate these liabilities, because they can’t pay them, they’re far too big, you have to look at bankruptcy by state governments as an alternative,” economist Rollin Amore told Press TV.

The problem has been kept mostly hidden from the public eye. The finances of some states and local governments are comparable to the run-up to the subprime mortgage meltdown or that of the debt crisis hitting nations in Europe, analysts say.

Although the federal government is battling to reduce its deficit of nearly USD 1.5 trillion, President Barack Obama has stressed that he is hopeful about a recovery.

“We’ve seen some encouraging signs that a recovery is beginning to take hold. An economy that had been shrinking for nearly a year is now growing. The challenge now is to do whatever it takes to accelerate job creation,” Obama said.

No state has gone bankrupt since the Great Depression but currently a handful of cities have declared or are considering bankruptcy. At least 15 million Americans are currently jobless.

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