DEBT: Let My Kids Deal with It!

by McGoo84 from www.sxc.hu

by McGoo84 from www.sxc.hu

“There will be peace and security in my days”

This is the thought of King Hezekiah of Judah when he heard the prophet Isaiah say his nation would be plundered and ransacked by Babylon (Is. 39:8).  He was glad that it would not happen in his day, but would happen later during the days of his children.  Isaiah’s prediction will come to fulfillment with the carrying away of Manasseh to Babylon (2 Chron. 33:11) and members of the royal family being carried away as eunuchs to Babylon (Daniel 1:3-4).

His attitude of carelessness for future generations seems astounding and so starkly selfish.  Yet as I thought about this passage I wonder if we often have the same attitude.

We could select many areas in which we tend to have this philosophy.  But the issue of financial debt seems to be the most prominent in my mind.

Our national debt is soaring out of control.  Consider these numbers:

As of this posting (May 14, 2013) the National Debt is $16,772,863,748,364.08. I can’t really fathom that number, but I can understand that this equates to $53,254 per person in the U.S.  This is even worse when you consider it is $148,071 per taxpayer in the U.S..  I remember the national debt being a concern when I was in high school in the early ’90s, now it is a grave concern.   Yet, nothing has been done to really address the problem.             (Source1) (source2)

Our individual household debt is also out of control.  Here are some numbers for you:

“Average credit card debt stands at a distressing $7,073 – a startling number considering that if you look at only those households that have debt, the average rises to $15,162. And the American debt profile only gets worse.”  (source).

“The average mortgage debt is $147,967 and student loan debt $33,445” (source).

The problem on a national and personal scale is the same — a failure to be fiscally responsible.  For Christians this is more than just an economic issue; this is about our stewardship.

It seems that a contributing factor to debt is the philosophy of King Hezekiah.  This is why borrowing money and credit cards can be so appealing because they allow us to have “peace and security” now and pass on the cost to a later time.  For us it is not typically peace and security it is stuff, ease, and social status.  But we are borrowing upon the future.  We are selling our children to the slavery of debt (Prov. 22:7).

Christians must through our prayer, voting, and personal examples work for financial responsibility and accountability.  Don’t live for today with no respect for tomorrow.  If we continue to do so a Babylon of our time may plunder our wealth and carry our children into slavery!

What can Christians do to address this issue?

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