Originally posted at Christian Post June 24, 2016.
To learn Biblical answers to your financial questions, you can AskCrown by clicking here. Questions used may be lightly edited for length or clarity.
With the Fourth of July coming up, I’ve been thinking that the Founding Fathers would roll over in their graves if they knew the kind of debt America is in. Time magazine recently reported that “Most critics of the (national) debt cite the fact that at $19 trillion, the national debt represents about 102% of the U.S. gross domestic product, the sum total of all the economic activity in this country each year.” Consider me a critic! It’s amazing to me that our country can owe more than the economy makes. What advice would you have for Uncle Sam? Is America in financial trouble?
Praying God will Bless America
I saw that story in Time which noted that with the debt load the U.S. carries, it amounts to $42,998.12 owed per man, woman and child. I find that tragic and ridiculous considering the decreasing number of Americans in the workforce. Add this amount to every household budget in our country and we have a serious problem. The math for repayment simply does not work.
The best piece of advice I can first offer you is found in your letter. We Christians – especially on America’s birthday – need to be praying for our country and for the election coming up. America needs God’s help for all the issues we face, and certainly a leader that can rein in the out of control federal spending should be among our prayer requests.
When it comes to debt, it’s important to understand the tension between having some debt and balancing a budget. The country’s debt has been allowed to increase, in part, because the government can manipulate the currency, interest rates and a number of factors to force the math to look good… on paper.