Dealing in Debt

There is a crushing weight weighing on the backs of every man woman and child in this country.  A weight so heavy that it has the potential to destroy us and our way of life.  It is a burden we loaded onto ourselves, voluntarily, both privately and publicly.  That heavy burden that we shoulder is debt.

If we look at our relationship with debt over the years, that relationship can be closely tied with the movement of the Christian faith from our public and private lives.  The Baby boom generation was the first in the nations history grown up (or saw it removed) without Bibles in school, prayer in school.  Without those Biblical guidelines being taught and even rejected, that generation became a me first generation, a generation where self gratification became the most important thing.

That generation enjoyed the good life, buying things on credit and paying for it later.  They unionized and got grand benefits and fabulous retirement plans.  Meanwhile, in Washington, that generation took power and began to spend.  Entitlements grew and expanded.  Bureaucracies increased since they felt they knew best how to do things (going back to the me attitude).  There never seemed to be a problem since they were all prospering tremendously.

We are now at a point where all of the greed and self interest is coming home to roost.  The lavish lifestyles our parents enjoyed was at the current generations expense and we are left to deal with the aftermath.  My generation is the first in the nations history that is not more prosperous than the previous.  Why?  Because they spent all the money and now we have to pay the price.

Had we not moved away from those Biblical principles, we would not be in the situation we are in.  What are those principles?  Many are probably unaware of them since they are no longer taught in any public venue. 

 Romans 13:8    Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.

Sounds simple enough, but is it practical in today's World?  Can one live not owing anything?  Sure, if you are willing to live with a simple car that runs, not the new Mustang convertible.  Sure, if you can be content in a smaller dwelling, not that 5000 sq ft mini mansion.  Sure, if you can be happy with tube steak (hot dogs) rather than filet Mignon.  It is a matter of learning to differentiate between needs and wants.  We need a car, but we want the Mustang.  We need shelter, but we want the fancy house.

"The rich rules over the poor, and the borrower becomes the lender's slave" (Proverbs 22:7)

Ain't that the truth.  When we owe money (car loans, mortgages) we are forced to continue to work to pay those debts off.  We are bound by those agreements and our freedom to do things is hampered.  When we sign a mortgage, we are basically signing our life away, enslaving ourselves for the next 30 years in order to finally at the end of our days (if we live that long) own a small piece of land.  We must always hold a job and continue working.  We have to take the abuse the job gives us because we know, to lose the job is to lose the house.

This works on a national level too.  Most of our debt is held by the Chinese.  If they really wanted us to do something, just the mere threat of calling in the loans is enough to make us comply as it would make our money valueless and destroy our economy (and thus our world strength).  Of course, it is already diminished with the fact that they hold this power over us.

"A good man leaves an inheritance to his children's children" (Proverbs 13:22)

What inheritance have we been given?  A debt which needs to be repaid and a lifestyle that is diminished because of it.  Is the 'greatest generation' so great in light of this scripture? How can we leave something for future generations if we have spent money like a drunken sailor and not stored away our resources for the future generations to partake in?

"The wise man saves for the future, but the foolish man spends whatever he gets" (Proverbs 21:20)

"Steady plodding brings prosperity" (Proverbs 21:5)

In this last generation of me first get it now pay later attitude, we have not followed this Godly principle.  It is hard work and dedication, attention to detail, being patient and waiting that allows for true wealth to grow.  Getting it now sucks away not just the money spent, but all the added interest further decreases potential wealth.  We need to learn again to look at the big picture and down the road and not be so hung up on having to have that 'thing' right now.

We in this country are going to have to make sacrifices, starting right now.  We have to be willing to give up all the perks and benefits.  We have to be willing to give up the entitlement programs.  We have to be willing to buckle down and be content with a little rather than a lot.  If we as individuals people and a nation are unwilling to make the future better for our children and our children's children, we will have for them nothing to give.
1 Timothy 5:8

But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel.