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Tuesday, June 15, 2010

Declaring War on Debt

I have been been very concerned about debt; both my personal debt and that of our nation. I am working hard to get completely out of debt. It means hard decisions. It means that I must deny myself some pleasures that would be met simply by allowing the debt to exist.

Don't misunderstand me. I am not saying that I want to get out of all expected debt. I want to get out of all debt. I don't have a car loan or recurring credit card bills now. I would like to pay off my house and the debt of apology I owe others, as well. I don't want to owe anyone anything but love.

Proverbs tells us that we should not allow debt to be our normal way of life. It tells us that we are under obligation to others when we owe something. It says that we are unable to do what we would like while we are under this burden. It says we will have to make painful choices to remove the burden.

This is also true of our nation. We cannot continue to borrow with no thought of repayment. We cannot think that someone else will pay our debt for us. We must humble ourselves to the reality that we cannot have everything we want. We cannot bail out everyone who is hurting. We cannot give security to those who choose to make bad decisions.

We will eventually have to declare war on our debt. The worse we pile up the debt now; the worse it will be later. We will have to shrink our government. We will have to lay off government employees. We will have to stop the flow of entitlements. We will have to curtail our spending as a nation or the burden of debt will soon crush us. We will have to raise taxes. We will have to tax everyone. It will become the greatest depression that has ever been known. It will make us a nation who must answer to all who have loaned us money. But it will be done or we will no longer exist as the "land of opportunity." We will become like the European countries who are being destroyed by their debt. Anarchy appears in their future.

Why don't politicians know this? I think they secretly do but don't admit it. They are concerned about getting re-elected. Promising more to more people seems to get you re-elected. Saying that you are going to make others pay your bills seems to be the best answer to the debt. Claiming that this spending is necessary or things will get worse resonates with many. Avoiding the hard question of how you will pay for it is always met with the need of the moment rather than the attitude of responsible living. Emotions are used for excuses.

I had a local businessman tell me that he was scared a couple of weeks ago. He immigrated to American many years ago and started his own business. He has done well for himself. He is afraid it will all disappear soon. I have heard that many others have the same fear. We are desperately in need of leaders who will say, "No more!" Yes, it sounds negative but it is the most positive thing we can do for our future.

Think of it. If we do nothing the government will have to print money faster than Zimbabwe did. It will redefine hyper-inflation. It will not be that you will spend the money you make as fast as you can but that you will borrow before you are paid so that you can pay with inflated dollars. Interest rates will soar since lenders know their payments will be made with money that isn't worth as much as the money they  loaned. Where does this end? I don't know but I do know that I don't want to go there.

The Bible has told us what to do. We must not rest until we have unburdened ourselves from debt. I believe that is both personally and as a nation. What do you think?

Romans 13:8 (NIV)
8 Let no debt remain outstanding, except the continuing debt to love one another, for he who loves his fellowman has fulfilled the law.

Proverbs 6:1-5 (NIV)
1 My son, if you have put up security for your neighbor, if you have struck hands in pledge for another, 2 if you have been trapped by what you said, ensnared by the words of your mouth, 3 then do this, my son, to free yourself, since you have fallen into your neighbor's hands: Go and humble yourself; press your plea with your neighbor! 4 Allow no sleep to your eyes, no slumber to your eyelids. 5 Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.

1 comment:

Tami said...

i agree! my husband and i are now out of debt totally and we feel so free!!!