Impending Economic Cataclysm: The Organized Christian Church
Has Buried Its Head in the Sand
by Bill Sardi
Strange as it may seem, the organized American Christian church appears to be silent about the unbearable load of debt that Americans carry. There are few if any preachers warning their congregations of the inevitable economic cataclysm that approaches. This is despite many admonitions in the Bible to avoid debt, both at the governmental and personal level.
The Bible-believing churches were quick to respond to a technological crisis, Y2K, and to send their sons to war in the aftermath of the 9-11 attacks at the World Trade Center. The Bible-believing churches oppose abortion and a gay lifestyle, but when was the last time you heard of a clergyman who warned the faithful for incurring debts beyond their ability to repay, or derided our nation’s leaders for miring America into onerous debt?
It’s not like this issue only affects a few in the church pews. In 2007, before the recession began, 14.7 percent of U.S. families had debt exceeding 40 percent of their income.” (U.S. Congress’ Joint Economic Committee, “Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing Consumers and Undermining the Recovery,” May 2009)
In the fourth quarter of 2008, 13.9 percent of consumer disposable income went to pay interest on this debt. (U.S. Congress’ Joint Economic Committee, “Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing Consumers and Undermining the Recovery,” May 2009)
From a collective standpoint, the nation’s leaders have driven America into $12 trillion of debt, about $39,000 of indebtedness per person says the US Debt Clock. The Federal government has financial obligations it cannot possibly deliver, particularly Medicare which has an $89 trillion shortfall. This year (2009) the Federal government will spend far more ($3.9 trillion) than it collects in taxes ($2.4 trillion). The difference ($1.5 trillion) is added to the national debt.
Regarding the national debt, the Bible says: “For the LORD your God will bless you as He has promised you, and you will lend to many nations, but you will not borrow; and you will rule over many nations, but they will not rule over you.” (Deuteronomy 15:6) Currently, nearly half of the national debt is owed to foreign interests.